Answer to Question #174825 in Management for Princess

Question

What is a franchise

Answer 1

Franchise refers to a type of business whereby business owners provide licenses and business rights to affiliates. Affiliate companies are allowed to have owners' proprietary rights and business knowledge, trademarks, and business processes, allowing them to trade products under the owner's business name. Other affiliate businesses, therefore, are charged initial start-up initial fees and an annual licensing fee.