Franchising is one alternative for expanding a successful, existing business. Franchises are generally of two varieties. The franchisee purchases the rights to a single location or buys a master franchise to develop an area (. multiple locations that may then be sub-franchised within a given geographic territory). When a business is franchised, a specially prepared contractual relationship (joint venture) is set up between the successful established business (the franchiser) and the hopeful buyer (franchisee) concerning sale and lease. This copy is based on the key elements of the original concept that are necessary to duplicate the success of the.
