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 receive the right is call ''franchisee''. Many large companies in the service industry | + | '''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 | + | ==See Also== |
*[[Glossary of Budget Terms]] | *[[Glossary of Budget Terms]] | ||
*[[Funds]] | *[[Funds]] | ||
Revision as of 03:18, March 5, 2009
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.