See How a Franchise is More than Just a Restaurant Branch
Franchises have existed in the world for a long time in some form or other, but the kind of franchises that we know of started around the turn of the nineteenth century. A franchise is an authorization offered to a party by the parent company, wherein the party represents the parent company and carries out its commercial activities on behalf of the company while sharing profits for the same. In other words, a franchise is an agreement made between the parent company and the franchise partner, where the franchise partner pays a sum of royalty to the company in exchange for using their brand name and for duplicating their business model www.frantastic.in 2 to run a successful business unit for the company. The profit is shared by the parent company and the franchise partner.
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