Tag: franchise

What are franchise systems?

Definition: Franchise systems are networks of independent entrepreneurs who practice the same business model and operate under the same brand. The initiator of a franchise system is the franchisor, who contractually obliges his franchisees to use his brand and implement his business model. The brand and business model are the intellectual property of the franchisor. In exchange for the payment of fees, his franchisees acquire a temporary right of use. […]