Thinking about getting involved with a franchise? You’ll be in good company using this rapid-growth business model. Consider there are 792,000 franchise units in America as of November 2022. And they employ almost 8.5 million workers.
Read on to find out about the franchise relationship contract. And other important aspects that deal with this business format.
What is a Franchise Business?
A franchise involves two entities. The person who puts together the trade name, brand and business formula. And the other part of the franchise system pays fees, royalties and needs franchisor licenses.
These independent small business entrepreneurs get to use the products, logo, and business name of the larger company.
