A business system in which an organisation with an already successful product or service becomes a ‘franchisor’ and sells the system to other individuals or organisations. In return for a fee, the ‘franchisee’ then operates using the franchisor’s brand name and operating systems, and under the guidance of the franchisor. A Franchise is ideal for entrepreneurial individuals or small groups of investors with limited expertise in a particular sector. Well known examples include McDonald’s, Nando’s, Pam Golding Properties, Tiger Wheel & Tyre, etc.

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