Problem: Define franchising and describe its two basic forms. Franchising is a continuing relationship in which a franchisor grants to a franchisee the business rights to operate or to sell a product. Modern franchising takes two basic forms. In product and trade name franchising, a dealer agrees to buy or sell certain products or product lines from a particular manufacturer or wholesaler. Business format franchising is an ongoing business relationship in which a franchisee uses a franchisor's name, format, or method of business in return for several types of fees.
Questions: 1. What advantages does franchising provide to franchisors as well as franchisees?
2. Curves is the world's largest fitness franchise and was recently the fastest-growing franchise of any kind. What do you need to do to become a Curves franchisee? Visit the Web page of curves to find out. Does anything surprise you?