You have probably heard the word franchise before but what does it mean? A franchise is when it comes to small business is a business you can buy into for a fee. Most fast food chains are made up of people buying the right and territory of that restaurant for a fee. Papa Murphy's is a well know franchise that is in most parts of the USA. Owning a franchise you not only have a recognizing trademark but will benefit from the parent's company advertising as well. Most of the time the parent company will issue sales fliers, coupons and TV ads as part of the franchise fee.
Franchises are not just limited to fast food places but come in all sorts of products as well as brick and mortar types of businesses.
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