Franchises

These Millennials Are Running Franchises With Their Parents. Here's What They've Learned.
Franchises

These Millennials Are Running Franchises With Their Parents. Here's What They've Learned.

Faced with diminished job prospects, millennials are increasingly partnering with their parents in the franchising world.
Creepy Clown Panic Forces Ronald McDonald Into Witness Protection Program
Franchises

Creepy Clown Panic Forces Ronald McDonald Into Witness Protection Program

America has super-sized its rainbow-wigged wig out.
Dan Bova
Should Millennial Entrepreneurs Start a Business or Just Buy a Business?
Millennials

Should Millennial Entrepreneurs Start a Business or Just Buy a Business?

Don't let the glamour of having a startup blind you to the head start you can have simply buying a business.
William Craig
Did Ruth's Chris Steak House Bite Off More Than It Can Chew With its New Promo?
Franchises

Did Ruth's Chris Steak House Bite Off More Than It Can Chew With its New Promo?

Did the score of a Michigan-Rutgers game totally fork up this restaurant?
Dan Bova
3 Secrets to Franchising Success
Franchise Success Stories

3 Secrets to Franchising Success

Ongoing training and engagement are the keys to success for all concerned in the franchising relationship.
Lewis Schiff
7 Fast Food Restaurants That Feature Secret Menus
Franchises

7 Fast Food Restaurants That Feature Secret Menus

We bet you've never eaten the Land, Sea and Air Burger at McDonald's.
Rose Leadem
6 Franchises Making Our Lives Easier With Robots and Drones
Franchises

6 Franchises Making Our Lives Easier With Robots and Drones

From getting Slurpees delivered to our door to a robot bringing us water to our hotel room, here are six chains using technology to deliver better and faster service.
Rose Leadem
8 Franchises That Have Appeared on ABC's 'Shark Tank'
Franchise 500

8 Franchises That Have Appeared on ABC's 'Shark Tank'

Everyone's favorite reality TV show comes back this Friday, and no, we're not talking about 'Keeping Up With the Kardashians.'
Rose Leadem
Don't Choose a Franchise Until You've Talked to People Who Already Own It
Choosing a Franchise

Don't Choose a Franchise Until You've Talked to People Who Already Own It

Some lessons you shouldn't learn the hard way, like how a company treats the owners of its franchises.
Tom Scarda, CFE
20 Signs You Might Need a New Franchise Coach
Coaching Services

20 Signs You Might Need a New Franchise Coach

Conduct your due diligence on selecting a franchise coach helping you and beware of any of these warning signs.
Rick Bisio
5 Questions You Need to Answer Before Choosing a Franchise
Franchises

5 Questions You Need to Answer Before Choosing a Franchise

Businesses should be just as interested in you as you are in them.
Kyle Zagrodzky
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.
How 'Risky' Hires Can Become Your Most Loyal Staffers
Franchises

How 'Risky' Hires Can Become Your Most Loyal Staffers

Entrepreneur Tina Howell loves taking risks, even when it comes to hiring employees.
Franchising's Top 115 Personal Service Brands
Franchise 500

Franchising's Top 115 Personal Service Brands

Check out this year's top personal-service franchises.
Tracy Stapp Herold

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.