Franchising means giving the right to use a trademark or trade name to another party (franchisee) for commercialization. McDonald’s is one example of the largest franchise network in the world.
You can buy famous franchise rights for you to operate in your community. In return, you will pay the initial fee to the franchisor. After running, you also submit a percentage of sales revenue to the franchisor, depending on the agreement.
You must agree to abide by strict rules about how you do business. Franchisors often offer help and support for operations to ensure that your business meets the standards and does not jeopardize the franchisor’s reputation.