franchise industry

The franchise industry involves a business model where one party (the franchisor) allows another party (the franchisee) to operate a business using its brand, products, and systems. The franchisee pays fees and royalties to the franchisor in exchange for support and the right to use the established brand name. This setup enables individuals to start their own businesses with established identities and operational support, while franchisors expand their brand reach without investing directly in new locations. Examples include fast-food chains, retail stores, and service providers, making franchising a popular way to own and manage a business.