A franchise trend in which owners of independent businesses become franchisees to gain the advantage of name recognition is called ________.

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Conversion franchising is a trend in which independent business owners convert their businesses into franchise locations. This allows them to take advantage of the established name recognition and operating systems of the franchisor while still owning and operating their own business. Area development refers to a franchisee's rights to open multiple locations over a specified geographical area. Master franchising involves a franchisor granting rights to a third-party to open and operate franchises in a specific region. Cobranding is a marketing strategy in which two or more brands collaborate on a product or service.

A Franchise Trend in Which Owners of Independent Businesses Become