Starting a franchise business involves obtaining the rights to operate a business that follows a proven model, using the franchisor’s trademark, products, and processes. This can offer numerous advantages, such as reduced risk, established brand recognition, and access to training and support.
Franchising has a long history, dating back to the Middle Ages when guilds granted exclusive rights to certain individuals to practice a trade. In modern times, franchising has become a popular way to expand businesses, with many well-known brands such as McDonald’s, KFC, and Subway operating as franchises.