Franchising. It is a system of selling goods or services that involves a franchisor, who creates the brand's trade name and business system, and a franchisee, who makes a royalty payment.
When a person or group of people (the franchisee) applies to become a franchisee, the franchisor, the owner of the business system, provides them the right to operate a business selling goods or offering services using the franchisor's business system. Franchisees may also make use of the franchisor's logos, trademarks, and distinguishing marks in accordance with certain rules. Any person considering opening a company as a franchisee must keep in mind that franchisees are subject to a partnership agreement.
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