The definition of franchising:
In simple terms, franchising is a business model based on a collaborative partnership between a franchisor and a franchisee. The franchisor has already developed an established business concept, including a recognized brand. As a franchisee, you have the opportunity to benefit from this concept and the existing brand perception. In order to operate under the franchisor’s name and system, a license fee and set-up fee are paid. The franchisee is an independent entrepreneur who receives support from the franchisor, such as know-how, marketing, or financing options.