Phillips (Franchise)

Phillips (Franchise) refers to the concept of a franchise-based business model associated with Phillips, a company known for its electronic products and lighting. In a franchise, an individual or group (the franchisee) receives the right to operate a business using the brand and business model of Phillips. This includes guidance, support, and the established reputation of the brand. Franchisees typically pay fees and royalties to the parent company. This model allows Phillips to expand its market presence while enabling entrepreneurs to run their own businesses under a well-known brand.