ENTREPRENEURSHIP

Detailed explanation-1: -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-2: -A franchise agreement is a legally binding document between a franchisor, who owns a brand’s trade name, trademarks, and business systems, and a franchisee, who is given the legal right to create a business associated with the franchisor’s brand.

Detailed explanation-3: -The franchise agreement is a legally binding contract. It sets out the rules of the franchising relationship that both the franchisor and franchisee have agreed to.

Detailed explanation-4: -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.

Detailed explanation-5: -Job or operator franchise. These owner operator franchises are usually home based, which keeps overheads down to a minimum. Management franchise. Retail and fast food franchises. Investment franchise. 10-Jul-2019