What is Franchise in Retail? Explained

A franchise is a business model where an entrepreneur (franchisee) acquires the rights to operate a proven business concept, brand, and support system from a parent company (franchisor). This arrangement allows the franchisee to benefit from an established brand, operational guidance, and marketing support while maintaining some degree of independence. Franchises are prevalent, offering entrepreneurs a turnkey solution to start and run their businesses under a recognized brand.