Franchise

2017's Best of the Best Franchises
Franchise

2017's Best of the Best Franchises

Meet the top franchises of the year across different business categories, from pets to lodging.
Tracy Stapp Herold
What Franchisees Need to Know About Vendor Contracts
Franchise

What Franchisees Need to Know About Vendor Contracts

When you purchase a franchise, you'll most likely be doing business with some outside vendors. Find out what you're legally responsible for.
Rick Grossmann
The 19 Covenants of a Standard Franchise Agreement
Buying a Franchise

The 19 Covenants of a Standard Franchise Agreement

A quick look at the promises, rights or duties that the franchisee or franchisor owes to the other.
Rick Grossmann
Taco Bell's New Snack-Infused Item Is Cheesier Than Ever
Fast Food

Taco Bell's New Snack-Infused Item Is Cheesier Than Ever

If a quesadilla wasn't cheesy enough for you, Taco Bell has found a solution.
Entrepreneur Staff
4 Ways This Veteran's Military Background Helps Him Run His Business
Veterans Day

4 Ways This Veteran's Military Background Helps Him Run His Business

A marine and firefighter got a second career making others feel at home.
Nina Zipkin
The O.J. Simpson Trial's Surprising Impact on Molly Maid's Founder and Business
America's Small Business Heroes

The O.J. Simpson Trial's Surprising Impact on Molly Maid's Founder and Business

The trial inspired a special foundation -- one that's been instrumental in developing a base of franchisees.
Nina Zipkin
This Buzzy Company Failed and There's a Simple Reason Why
Franchise

This Buzzy Company Failed and There's a Simple Reason Why

Niche markets are tricky. This entrepreneur learned the hard way.
20 Subway Facts That May Surprise You
Franchises

20 Subway Facts That May Surprise You

From fashion shows to 11-inch 'footlongs,' these pieces of trivia may make your jaw drop enough to fit one of the restaurant's signature sandwiches.
Rose Leadem
From the NFL Locker Room to the Boardroom
Reinvention

From the NFL Locker Room to the Boardroom

Entrepreneurship was plan B for Chicago Bears offensive lineman Tafa Jefferson.
Tom Scarda, CFE
Pop Quiz: How Well Do You Know Ben & Jerry's?
Ice Cream

Pop Quiz: How Well Do You Know Ben & Jerry's?

From its legendary flavor graveyard to its iconic cow on its packaging, we want to test your Ben & Jerry's trivia for National Ice Cream month.
Grace Reader
5 Things to Consider Before You Open More Locations
Expansion

5 Things to Consider Before You Open More Locations

Once your first business succeeds, it's easy to get complacent. Ask yourself what you should do next.
Kyle Zagrodzky
Franchise of the Day: This Taco Shop Will Have You Feeling Warm and 'Fuzzy'
Franchise of the day

Franchise of the Day: This Taco Shop Will Have You Feeling Warm and 'Fuzzy'

After launching the restaurant in 2003, a father and son duo set out to make their Mexican-food concept a franchise.
Lindsay Friedman
Franchise of the Day: Hit a Grand Slam With This Franchise
Franchise of the day

Franchise of the Day: Hit a Grand Slam With This Franchise

This company helps folks get a snapshot of the big game.
Lindsay Friedman
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.  

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