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Franchise generally means a right or privilege.  In a business setting it is a method that involves the licensing of trademarks and methods of doing business from a franchisor to a franchisee. Sharing a brand, central management or the exclusive right to sell branded merchandise are the main forms of franchise opportunities. 

Franchises range from small opportunities such as restaurants, gas stations and retail stores to larger business agreements like hotels, spas and hospitals.  The largest, most widely recognized franchises today are Subway, MacDonald’s, and 7-11.  Choosing a franchise that has a good track record of profitability and is easily duplicated is of upmost importance. 

 
 
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