Difference between revisions of "Franchise"
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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 | + | '''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 receives the right is call ''franchisee''. |
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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== | ||
Revision as of 15:29, February 24, 2018
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 receives the right is call franchisee.
Many large companies in the service industry operate using franchising, such as most restaurants and hotel chains.