Franchising is based on a marketing concept which can be adopted by an organization as a strategy for business expansion. Where implemented, a franchiser licenses its know-how, procedures, intellectual property, use of its business model, brand, and rights to sell its branded products and services to a franchise. In return, the franchisee pays certain fees and agrees to comply with certain obligations, typically set out in a Franchise Agreement.
Three important payments are made to a ... Read more