BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A franchise (or franchising) is a method of distributing products or services involving a franchisor, who establishes the brand’s trademark or trade name and a business system, and a franchisee, who pays a royalty and often an initial fee for the right to do business under the franchisor’s name and system.

Detailed explanation-2: -A business arrangement wherein an individual pays a larger company for the rights to use their name and general business plan.

Detailed explanation-3: -May 21, 2021. While a franchisor is an established entrepreneur with a licensed business model, a franchisee is a person or corporation that owns and operates the business using the business model licensed by the franchisor. Franchising describes the business relationship between the franchisor and franchisee.

Detailed explanation-4: -There is a wide variety of types of franchise structures used in the industry today. There are two main types of franchising, known as Product Distribution Franchising (Traditional Franchising) and Business Format Franchising, which are conducted under a variety of franchise relationships.