Know Your Business and Management:
Franchising is a term that describes us about using philosophy of business from another person.
Franchisor is a person who grants the independent operator the right to contribute its techniques, trademarks and products for a royalty fee. Franchisor also provides various tangibles and intangibles like international training, advertising.
Franchise helps in increasing a unique concept in business and provides the business which is relatively inexpensive and easily duplicated. During business startup franchise may carry expenses. Agreements between franchise and franchisee are based on unilateral contracts. In US franchise may fall under jury of a number of state and federal laws.
