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'''Franchise''' is an [[agreement]] between two firms (or individuals) in which the first firm (''franchiser'') provides the other with the [[right]] to use the first firm's name and to sell or rent its products. The firm that receive the right is call ''franchisee''. Many large companies in the service industry operate using franchising, such as [[McDonald's]] and many [[hotel]] chains.
'''Franchise''' is an [[agreement]] between two firms (or individuals) in which the first firm (''franchiser'') provides the other with the [[right]] to use the first firm's name and to sell or rent its products. The firm that receive the right is call ''franchisee''. Many large companies in the service industry operate using franchising, such as [[McDonald's]] and many [[hotel]] chains.
==See Also==
==See also==
*[[Glossary of Budget Terms]]
*[[Glossary of Budget Terms]]
*[[Funds]]
*[[Funds]]