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What is franchising

What is franchising? Describe 3 types of franchising and give an example of each. How does franchising benefit the franchiser?

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Franchising is a license given by a company to an individual or an entity to sell its products or services under an agreement between the franchisor and franchisee.

3 types of franchising:

1. Product Franchise

The franchisor or the owner of the company grants the franchisee to market their goods or services using their brand, recipe, and trademark. The franchisee ...