ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A franchisee is a business owner who is licensed to operate a branded outlet of a retail chain. The franchisee pays a fee to the franchisor for the right to sell its established products and use its trademarks and proprietary knowledge. The franchisee receives guidance and support from the franchisor.

Detailed explanation-2: -Franchising is a contractual relationship between a licensor (franchisor) and a licensee (franchisee) that allows the business owner to use the licensor’s brand and method of doing business to distribute products or services to consumers.

Detailed explanation-3: -Professional Entrepreneur: A professional entrepreneur sells out the running business and starts another venture with the sales proceeds.

Detailed explanation-4: -Franchising gives you more guidance but less control A franchise is a business model where one business owner (the “franchisor”) sells the rights to their business logo, name, and model to an independent entrepreneur (the “franchisee”).

Detailed explanation-5: -small business. scalable startups. large company or intrapreneurship. social entrepreneurship. 07-Apr-2022