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What is a franchise

What is a franchise?

A way to establish your own business

Franchising is a system of associated business between companies that are financially and legally independent, but which are linked by a contractual relationship. One party (the franchisor) grants to the other or others (the franchisees), in exchange for economic compensation, the right to use a brand and/or a commercial formula as materialized in some distinctive trademarks, while at the same time ensuring the availability of the necessary technical assistance and regular services designed to facilitate such operations. It is important to have a clear understanding of what franchising is and how it works.

When starting the process there are many options that you must take into account. One of the most important is whether or not to initiate the business activity on your own, from the ground up, with all of the uncertainties this may involve, or else under a franchise brand and successfully tested business model, already operating in various different scenarios, and with established know-how that can be replicated for all of the franchising units.

Franchising is becoming increasingly important in terms of commerce and services in our cities, not just because of the revenues it contributes, but also because of the way it strongly promotes the creation of small businesses (franchisees) and generates employment.

What is a franchise?