Definition
Franchising is a business model and method of distribution in which a franchisor grants franchisees the right to operate under its brand name, business format, and operational systems in exchange for franchise fees, royalties, and adherence to franchisor standards and guidelines. Franchising allows companies to expand rapidly and cost-effectively by leveraging the entrepreneurial spirit, local knowledge, and financial resources of franchisees to establish and grow franchise outlets or locations. Franchising offers entrepreneurs the opportunity to own and operate their own businesses with the support, brand recognition, and proven systems of established franchisors.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.