What is franchise?

Question

What is franchise?

Answer 1

All the ins and outs of franchising are explained on the site listed below e.g advantage/disadvantage, royalties, territory, disclosure documents etc. Hope it helps.

Answer 2

A franchise provides the right or license granted by a company to an individual or group to market its products or services in a specific territory such as a a store, restaurant, or other business operating under such a license.

Answer 3

A franchise means, you pay a corporation for the right to use its name and make money. In return, you agree to send a percentage of the profits back to the corporation. You also have to purchase supplies from that corporation, further increasing its profits. The advantage to you lies in the fact that most people will recognize your franchise's name, for example, McDonalds. You buy the land, pay USD 1 million, build the building, and McDonalds will let you use its name and let you purchase food and supplies from the corporation. It's hard work but some people have succeeded with it.