Franchise

A franchise is a business model where an entrepreneur (the franchisee) pays to use the brand, products, and support of an established company (the franchisor). In return, the franchisee operates their own business under the franchisor's name, benefiting from its proven methods and marketing. This arrangement allows the franchisee to start with a recognized brand and existing customer base, while the franchisor expands its reach and earns fees. It’s a way to own a business with the backing of a larger organization, reducing some risks associated with starting a new venture from scratch.