ENTREPRENEURSHIP

Detailed explanation-1: -Franchising is an arrangement in which the franchisor gives the franchisee the right to distribute and sell the franchisor’s goods or services and use its business name and business model for a specified period, and possibly covering a geographical area.

Detailed explanation-2: -A franchise is a business whereby the owner licenses its operations-along with its products, branding, and knowledge-in exchange for a franchise fee. The franchisor is the business that grants licenses to franchisees.

Detailed explanation-3: -A franchise enables you, the investor or franchisee, to operate a business. You pay a franchise fee and you get a format or system developed by the company (franchisor), the right to use the franchisor’s name for a specific number of years and assistance.

Detailed explanation-4: -A product franchise is a franchising agreement where manufacturers allow retailers to distribute products and use names and trademarks. A manufacturing franchise is a franchising agreement where the franchisor allows a manufacturer to produce and sell products using its name and trademark.