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Franchises

Franchises

How Franchising Helped This Founder Scale His Business

Former NFL player Tafa Jefferson launched a business to provide care to senior citizens. But he couldn't do it on his own.

This Franchisee Ditched a High-Powered Corporate Career to Run Her Own Cycling Studios

Lisa Locker spent decades climbing the corporate ladder. But as a CycleBar franchisee, she's found a whole new challenge.

Why Painting With a Twist's Founders Replaced Themselves as CEO

After 10 years, the founders knew the business was ready for the next stage of growth. But they weren't sure they were the right people to lead the charge.

Chick-fil-A Is Giving Away Free Food Today -- Here's How to Get It

Check out how to get free lunch (yes, it does exist) at Chick-fil-A today, and at other restaurants throughout the year.

How Shaq Is Bringing Fun Back to Papa John's

The basketball legend is the franchise's new brand ambassador. He's got his work cut out for him -- but Shaq's never been afraid of a challenge.

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Franchising is a 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 withToyota, 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 of which have gone international -- such as McDonald's, Subway and Pizza Hut. Starbucks, which is commonly thought to be a franchise, is not.

For more information about top franchise businesses, check out Entrepreneur's 2016 Franchise 500® Rankings, or get the Entrepreneur Franchise 500.