Franchising is the practice of using another firm’s successful business model. The word ‘franchise’ is of Anglo-French derivation – from franc – meaning free, and is used both as a noun and as a (transitive) verb. For the franchisor, the franchise is an alternative to building ‘chain stores’ to distribute goods that avoids the investments and liability of a chain. The franchisor’s success depends on the success of the franchisees.
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