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To put it into simple words, the Franchise model can be defined as a business model where you lease the right to individuals or businesses to use a company’s business model, brand name and the product for a specific time with some partnership fees in return.
To acquire these rights, the individuals or aspiring businesses should have to invest a small capital and sign a deed by disclosing all terms and conditions which are mutually agreed upon by both the parties.
The Franchise business has the highest chance of getting success because the brands have already reached and proved themselves successful in the market and have a loyal customer base. So, you don’t need to spend a lot of money on marketing, advertising, and digital branding.