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 | Hey Lee, let's grab something to eat, maybe head to the nearest Taco Bell franchise. | |
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| Sure, man. | |
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| Sorry, I was late. So, what's the diferrence between franchisor and franchisee? | |
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| Franchising occurs when when the owner of a business (the franchisor) grants a license to another person or business (the franchisee) to use their business idea. | |
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| Oh okay, now I get it. In return, the franchisee usually pays an initial fee to the franchisor and a percentage of the sales revenue, right? | |
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| Yes, exactly. | |
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