A Franchise Is...
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A Franchise Is...
Without a thorough understanding of what a franchise is, it will be difficult to create and understand the legal documents, let alone sell the concept.
Franchising is a relationship between a company that wishes to franchise its business – the franchisor - and a person who wants to purchase and operate the franchise – the franchisee.
Franchising is a business method and relationship. Franchises offer a trademark and logo and a complete system of doing business.
The relationship between a franchisor and franchisee is held together by a contract called the Franchise Agreement that outlines the privileges, terms, conditions, restrictions and other details of the system.
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