Through ________, a local firm purchases the right to use a company's processes and brands in a service business.

Question

Quizplus · Accepted Answer

Franchising is the business model in which a local firm purchases the right to use another company's processes and brands in a service business. The owner of the original company is known as the franchisor, and the local firm is known as the franchisee. Franchising provides a way to establish a business quickly and with lower risk, as the franchisor provides a proven business model and ongoing support.

Through ________, a Local Firm Purchases the Right to Use