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''. | + | '''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 oeprate using franchising, such as [[McDonald's]] and many [[hotel]] chains. |
== See also == | == See also == | ||
Revision as of 01:52, March 4, 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 oeprate using franchising, such as McDonald's and many hotel chains.