The Tim Hortons chain has more than 3,000 donut and coffee stores in Canada. The chain's red-and-white store banners are fixtures in many Canadian communities. In 2001, the first Tim Hortons appeared in the United States through a contractual agreement allowing an independent operation to adopt Tim Hortons' entire way of doing business. This agreement is an example of a(n)________.

Question

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The contractual agreement allowing an independent operation to adopt Tim Hortons' entire way of doing business is an example of a franchise.

The Tim Hortons Chain Has More Than 3,000 Donut and Coffee