What is a franchise?

A franchise is an agreement between two parties that gives a franchisee the rights to conduct business and market themselves using the name and trademark of another business, known as the franchisor.

In exchange for these rights the franchisee will pay the franchisor either a license fee or royalties (often both). As part of the franchise agreement the franchisor will normally be expected to provide help and support on an ongoing basis.

The franchise agreement will set out very clearly what is expected of both parties and there is usually a code of conduct or operations manual which must be followed by the franchisee to ensure that the good name of the franchisor is not tarnished in anyway.


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