What is Franchising? How it works? How your existing work experience will help in our company work?

Question

Accepted Answer

Franchising is a business model where a company allows individuals to operate their own business using the company's brand and system.

Franchisor provides the franchisee with a proven business model, training, and ongoing support.
Franchisee pays an initial fee and ongoing royalties to the franchisor.
Franchisee operates their own business using the franchisor's brand, products, and services.
Existing work experience can help in understanding the franchisor's system and implementing it effectively.
For example, if the franchisor is in the food industry, experience in managing a restaurant can be beneficial.