Definition Franchising – is an agreement by someone with a good idea for a business that sells others the rights to use the business name or sell a product or service in a given location with a specific manner. Some examples of franchise companies are, Burger King, Holiday Inn and Dunkin Donuts. Notice a franchise store front all have an identical color scheme and product / service. This is part of the franchising license. Think of a franchise as a chain of stores.

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