Difference between revisions of "Franchise"
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| − | '''Franchise''' is an [[agreement]] between two | + | '''Franchise''' is an [[agreement]] between two parties in which the first party (the ''franchiser'') provides the other party (the ''franchisee'') with the [[right]] to use the first party's name and to sell or rent its products. |
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| + | Many large companies in the service industry operate using franchising, such as most [[restaurant]]s and [[hotel]] chains. | ||
==See also== | ==See also== | ||
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*[[Free Enterprise]] | *[[Free Enterprise]] | ||
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[[Category:Business]] | [[Category:Business]] | ||
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Latest revision as of 01:10, April 22, 2019
Franchise is an agreement between two parties in which the first party (the franchiser) provides the other party (the franchisee) with the right to use the first party's name and to sell or rent its products.
Many large companies in the service industry operate using franchising, such as most restaurants and hotel chains.