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LIT1 -WGU-Franchises

Franchises

QuestionAnswer
What is a franchise? Companies operating under the name of, and selling products of, another company. It is the cooperative relationship of the franchisor and franciese.
What is a franchisor? A large company that has chosen to grant a license to use its name, product, and procedure to a smaller company.
What is a franchise? A business that pays a licensing fee to the franchisor
Who is responsible for obtaining a franchise license? Franchisor
What does the franchisor provide the franchise after the partnership is formed? The franchisor provides reasearch and development, logo, policies and procedures, marketing assistance, and ongoing quality assessments.
Created by: mfagre
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