Franchising

It is the rights of privilege granted, the franchisee obtains the authority to exercise these rights under the guidance of the franchisor.

It is continuing relationship in which a franchisor provides a licensed privilege to business and assists in organising training, merchandising and management in return for a consideration from the franchise

A franchise system involves a franchisor, who lends his brand name and a business system, and the franchisee that pays for the right to do business under the franchisor’s name and system.The contract binding the two parties is the franchise.

Franchising also exists as a successful business module for various companies within different sectors.