Franchise

Franchisee Pays Employees $144K Out of Pocket After Fire Destroys Restaurant
Franchise

Franchisee Pays Employees $144K Out of Pocket After Fire Destroys Restaurant

This Culver's franchisee says that continuing to pay employees as his restaurant was being rebuilt was not only the right thing to do, but a smart business move.
Kate Taylor
Franchise Players: My 5 Tips for Potential Franchisees
Franchise Players

Franchise Players: My 5 Tips for Potential Franchisees

From travel agent to CruiseOne franchisee, Michael Ramdial is dedicated to making vacation dreams a reality.
Kate Taylor
Franchise Players: A Former Banker Escapes Monotony Through Franchising
Franchise Players

Franchise Players: A Former Banker Escapes Monotony Through Franchising

While Steve Betts felt trapped working at a bank, franchising allowed him to find freedom in entrepreneurship.
Kate Taylor
Papa John's Founder on What Makes an Outstanding Franchisee
National Small Business Week

Papa John's Founder on What Makes an Outstanding Franchisee

John Schnatter started what is now a billion-dollar pizza franchise in a broom closet. Now, there are 4,500 Papa John's restaurants located across the globe.
Catherine Clifford
Franchise Players: From Selling Clothes Out of a Basement to Opening a Brick-and-Mortar Store
Franchise Players

Franchise Players: From Selling Clothes Out of a Basement to Opening a Brick-and-Mortar Store

In just a few months, these boutique franchisees' business was far too big for a basement.
Kate Taylor
Franchise Players: Don't Rush to Find the Right Franchise
Franchise Players

Franchise Players: Don't Rush to Find the Right Franchise

With the help of an entrepreneurial coach, this Maui Wowi franchisee learned that finding the right franchise was all about passion.
Kate Taylor
How to Spot the Ideal Franchise Opportunity for You
Franchise

How to Spot the Ideal Franchise Opportunity for You

No franchise is perfect, but some can come pretty close -- you just have to go in with your eyes open.
Joel Libava
Why Early Adopters Will Win the Franchise Game
New technology

Why Early Adopters Will Win the Franchise Game

A 'don't-rock-the-boat' strategy is no longer an acceptable option.
Franchise Players: I Grew My Business Through Co-Branding
Franchise Players

Franchise Players: I Grew My Business Through Co-Branding

Richard Helmey was grew his printing business by co-branding with FASTSIGNS. Here's how.
Kate Taylor
Survey: McDonald's Has the Worst Burger in America
Fast Food

Survey: McDonald's Has the Worst Burger in America

In the battle of the chain restaurants, Consumer Reports found that customers were sick of many of fast food mega-chains' specialties.
Kate Taylor
Franchise Players: Why You Need to Find a Mentor
Franchise Players

Franchise Players: Why You Need to Find a Mentor

Franchising provided Jasen Lawrence with mentors with direct experience and expertise in his business.
Kate Taylor
Winning is Simpler When You Don't Complicate Things
Make More Happen

Winning is Simpler When You Don't Complicate Things

If you're not getting the results you want and feel like your business is in a slump, you've probably just gotten away from your fundamentals.
John Brubaker
U.S.A.-Belgium World Cup Game Sparks a Waffle War
World Cup

U.S.A.-Belgium World Cup Game Sparks a Waffle War

Restaurant chains Waffle House and Bojangles are encouraging U.S. fans to boycott Belgian waffles to support the USA World Cup team.
Kate Taylor
Franchise Players: Never Let a Customer Leave Unhappy
Franchise Players

Franchise Players: Never Let a Customer Leave Unhappy

The key to this husband-wife duo's business? Realizing clients are the most important form of advertising.
Kate Taylor
Franchise

A franchise is way for companies to expand their business by licensing the rights to third-party retailers or individuals -- or franchisees -- who then can use the franchise’s logo, name and business model.  

There are three different kinds of franchises. They include:

  • Distributorships, such as with Toyota, which licenses the right for a third party to sell the parent company product.

  • Trademark licensing, which allows companies to buy the right to use the parent company’s trademark along with their own brand, such as what Coca-Cola licenses to other companies.

  • Business format franchises, such as Subway, which offer its franchisees the right to sell its goods and/or services using its business model.

Popular franchises: Some examples of popular and well-known franchise models are in the food industry -- many which have gone international -- such as McDonald’sSubway and DominosStarbucks, which is commonly thought to be a franchise, is not. 

For more information about top franchise businesses, check out Entrepreneur's "2015 Franchise 500 Rankings," or get the Entrepreneur Franchise 500.