Franchise

Your Company's Success Depends on Your Sales Skills
Sales Strategies

Your Company's Success Depends on Your Sales Skills

Even if you delegate the sales function, these three tips will make you a great salesperson by proxy.
Heather Ripley
Can You Bring Individuality to a Franchise?
Franchise Players

Can You Bring Individuality to a Franchise?

For these two entrepreneurs, creative control was key to becoming Scout & Molly's franchisees.
Kate Taylor
Meet the Ambitious Franchisees Who Turned Modest Investments Into Bustling Businesses
Franchises

Meet the Ambitious Franchisees Who Turned Modest Investments Into Bustling Businesses

Low-cost franchises are proving lucrative for those willing to put the time and energy into building them up.
Bouncing Back From Failure, a Fitness Business Gets It Right
Franchisors

Bouncing Back From Failure, a Fitness Business Gets It Right

MaxOut Strength Systems went through a serious rough period.
The Longest-Running Pizza Hut in America Is Closing Up Shop
Pizza Hut

The Longest-Running Pizza Hut in America Is Closing Up Shop

After nearly 55 years in business, the Manhattan, Kan., location is shutting down.
Kate Taylor
What Serving as a Marine and NYPD Officer Taught Me About Franchising
Franchise Players

What Serving as a Marine and NYPD Officer Taught Me About Franchising

Brendan Ryan believes that military and police personnel are perfectly prepared for the franchise industry.
Kate Taylor
Chipotle Just Put an Official Price on Its Most Famous Secret Menu Item
Chipotle

Chipotle Just Put an Official Price on Its Most Famous Secret Menu Item

Many locations used to ring up the off-menu 'quesarito' as a regular burrito. Now, all locations will charge an extra $3.50.
Kate Taylor
A 'Smooth,' Not to Mention, Sweet, Choice for a Franchise
Franchise Players

A 'Smooth,' Not to Mention, Sweet, Choice for a Franchise

"How awesome is it to be able to sell a product you are passionate about?" Quamisha Nelson says of her Smoothie King franchise.
Entrepreneur Staff
From Iraq to Lubbock: These Franchisee-Veterans Have Found Peace, and a Focus on Kids
Franchise Players

From Iraq to Lubbock: These Franchisee-Veterans Have Found Peace, and a Focus on Kids

The Little Gym franchise company now offers active duty military a 50 percent discount off the franchise fee.
Entrepreneur Staff
Papa John's Franchisee to Pay Employees $460,000 for Wage Theft
Minimum Wage

Papa John's Franchisee to Pay Employees $460,000 for Wage Theft

Officials say that the owner of nine Papa John's locations failed to properly pay employees minimum wage and overtime.
Kate Taylor
This Popcorn Franchisee Was 'The Boss' Until That Other 'Boss' (Springsteen) Popped Up
Franchise Players

This Popcorn Franchisee Was 'The Boss' Until That Other 'Boss' (Springsteen) Popped Up

Geoff Frischman was attracted to Doc Popcorn for its flexibility in the number of locations he could own and for its business support.
Entrepreneur Staff
I Became a Franchisee So I Could Be My Own Boss
Franchise Players

I Became a Franchisee So I Could Be My Own Boss

Business lessons from the owner of Wing Stop, Dunkin' Donuts and Papa John's restaurants.
Kate Taylor
Chipotle Is Giving Away Free Burritos to Any Customer Who Plays This Online Game
Chipotle

Chipotle Is Giving Away Free Burritos to Any Customer Who Plays This Online Game

Starting July 21, the burrito chain is launching 'Friend or Faux?' to take aim at its competition and give customers the chance to win free Chipotle for a year.
Kate Taylor
Franchisees

Franchise Industry Resolves California Conflict, Paving the Way for Law Protecting Franchisee Rights

The IFA agreed to drop its opposition to a bill backed by franchisee and labor organizations.
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.