A ________ is a business that markets a product or service in the exact manner prescribed by the person who developed the business.

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A franchise is a business model in which the franchisor permits a franchisee to use its trademark, sell its goods or services, and operate its business according to the specific system and procedures laid down by the franchisor. The franchisor also typically provides training, marketing support, and other resources to help the franchisee succeed. The franchisee must pay an initial franchise fee and ongoing royalties to the franchisor in exchange for these benefits.

A ________ Is a Business That Markets a Product or Service