A franchise is a business where the owners grant third-party operators the rights to use the business’s name, branding, and model in exchange for fees or royalties and ongoing support in the form of advisement or marketing.As part of the agreement, each franchisee provides the same goods and services for which the business is known. In the case of restaurants, franchisees serve the same menu (with occasional regional differences), feature the same advertisements, and use the same branding across the board.
