Franchise

Overview

A franchise is a commercial agreement under which a franchisee is granted the right to operate a business using the franchisor's brand and business model, in return for fees.

Common Use Cases

• Expanding a business with a proven model.
• Reducing the risk of entrepreneurial failure.
• Accessing an established customer base.
• Receiving ongoing support from the franchisor.

Examples in Small Businesses

• Opening a restaurant franchise.
• Adopting a recognised business concept.
• Benefiting from training and support.