when a business owner purchases a license that gives them the right to use the name and business practices of a company, this individual owns a franchise.
What is a franchise? A franchise is a right granted to an individual or group to market a company's goods or services within a certain territory or location. Some examples of today's popular franchises are McDonald's, Subway, Domino's Pizza, and the UPS Store.
Added 12/6/2012 6:21:37 PM