ENTREPRENEURSHIP

Detailed explanation-1: -A franchise is a commercial relationship in which the franchisor allows the franchisee to do business as an independent branch of the parent company using the franchisor’s business model, brand name, or method in exchange for a fee (franchisor).

Detailed explanation-2: -Franchising: It is an agreement between two parties where one party (hereafter referred to as the franchisor) permits another party (hereafter referred to as the franchisee) to use its brand name or business model for a fee conduct the business as an independent branch of the franchisor.

Detailed explanation-3: -A franchise is a type of license that grants a franchisee access to a franchisor’s proprietary business knowledge, processes, and trademarks, thus allowing the franchisee to sell a product or service under the franchisor’s business name.

Detailed explanation-4: -What Is Franchisor? A franchisor sells the right to open stores and sell products or services using its brand, expertise, and intellectual property. It is the original or existing business that sells the right to use its name and idea.