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. |
Many large companies in the service industry operate using franchising, such as most [[restaurant]]s and [[hotel]] chains. | Many large companies in the service industry operate using franchising, such as most [[restaurant]]s and [[hotel]] chains. | ||
Revision as of 23:58, March 24, 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.