What are the different types of franchise?
What will be an ideal response?
Three types of franchises have evolved since their initial establishment at the beginning of the twentieth century:
A distributorship franchise: It exists when a manufacturer licenses a dealer to sell its products. A common example is an automobile dealership.
A chain-style business franchise: It is an arrangement in which a franchisee operates under a franchisor's trade name and is identified as part of the franchisor's business chain. Examples include McDonald's, KFC, Pizza Hut, and other fast-food restaurants.
A manufacturing or processing plant franchise: It comes about when a franchisor provides the franchisee with the formula or the essential ingredients to make a particular product. The franchisee then wholesales or retails the product according to the standards established by the franchisor. Examples of this kind of franchise are Coca-Cola, Pepsi-Cola, and the other soft-drink firms.
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