What is a Franchise

A Franchise is the Agreement or License between two Legally Independent Parties which gives:             

  • A person or group of people (franchisee) the right to market a product or service using the trademark or trade name of another business (franchisor)
  • The franchisee the right to market a product or service using the operating methods of the franchisor
  • The franchisee the obligation to pay the franchisor fees for these rights
  • The franchisor the obligation to provide rights and support to franchisees

 

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