Franchise

Franchising may be defined as a business arrangement which allows for the reputation (goodwill), innovation, technical know-how and expertise of the innovator (franchisor) to be combined with the energy, industry and investment of another party (franchisee) to conduct the business of providing and selling of goods and services. The franchisee will operate under the franchisor’s Tradename, usually with the franchisor’s guidance, in exchange for a fee.

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