In a franchise agreement, the right to produce and market the franchisor's product or service is granted to the franchisee.
In a legal arrangement known as franchising, a licensor (franchisor) and a licensee (franchisee) share the right to use the licensor's name and mode of operation in order to sell goods and services to consumers.
Franchising offers entrepreneurs and small business owners the ability to manage their own operations with the assistance and support of a larger organization with a formula for success. It also enables larger firms to expand out and flourish.
Commercial franchising was initially created to enable employees or journeymen to launch their own businesses with backing from the franchisors. In England and other parts of Europe, where the Crown controlled land and gave the church and other influential parties the right to manage it, franchising was practised.
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