WHAT IS FRANCHISING?

The franchise industry refers to the business sector that revolves around franchising. Franchising is a business model in which a franchisor grants the rights to its established business concept, brand, and operational system to a franchisee. The franchisee then operates a business using the franchisor's established brand and receives support and guidance from the franchisor.

The franchise industry encompasses a wide range of sectors, including fast food restaurants, retail stores, service-based businesses, hospitality, healthcare, and more. It offers individuals or companies the opportunity to own and operate their own business while benefiting from the established brand recognition, proven business model, training, marketing support, and ongoing assistance provided by the franchisor.

Franchising has become a popular way for entrepreneurs to start their own business, as it provides a higher chance of success compared to starting a business from scratch. The franchise industry has experienced significant growth globally, offering a diverse range of franchise opportunities to prospective franchisees.