Nancy has owned her own hair salon for ten years.She's recently signed an agreement with Budget Cutters to become one of their outlets.This is an example of conversion franchising.

Question

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Conversion franchising occurs when an existing business owner signs an agreement with a franchisor to become a franchisee and use their established brand name and business model. In this case, Nancy's hair salon is converting to a Budget Cutters outlet.

Nancy Has Owned Her Own Hair Salon for Ten Years