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image for OpenScout resource :: Franchising

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The primary trade association for franchising issues, the International Franchise Association, defines franchising as a "continuing relationship in which the franchisor provides a licensed privilege to do business, plus assistance in organizing, training, merchandising, and management" in exchange for fees and royalties from the franchisee. In other words, franchising is the process of expanding a business whereby a company (franchisor) grants a license to an independent business owner (franchisee) to sell its products or render its services.

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Copyright © 2011 Advameg, Inc.