MANAGEMENT

Detailed explanation-1: -A multi-unit franchise is an agreement where the franchisor grants a franchisee the rights to open and operate MORE THAN ONE unit. There are two ways a multi-unit franchise can be achieved: ✔ an area development franchise or ✔ a master franchise.

Detailed explanation-2: -A franchise agreement is a contract under which the franchisor grants the franchisee the right to operate a business, or offer, sell, or distribute goods or services identified or associated with the franchisor’s trademark.

Detailed explanation-3: -A multi-unit franchise is an agreement where the franchisor grants a franchisee the right to open and operate more than one franchise location.

Detailed explanation-4: -There are 4 basic types of franchise agreements: Single-unit, multi-unit, area development and master franchising. A single-unit franchise is the most common and is simply where a franchisor grants a franchisee rights to open and operate one single franchise unit.

Detailed explanation-5: -The franchisor is the original or existing business that sells the right to use its name and idea. The franchisee is the individual who purchases the right to sell the franchisor’s goods or services using its existing business model and trademark.