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 | Hey Lee, let's get something to eat. Maybe head to the nearest Pizza Hut franchise. | |
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| Sure thing, man. Let me call Tom to join us. | |
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| Sorry, I was late. So, what exactly is a franchise? | |
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| To start off, a franchise occurs when the owner of a business (the franchisor) grants a licence to another person or business (the franchisee) to use their business idea. | |
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| How does the franchisor and franchisee benefit from this? | |
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| As PIzza Hut is very successful, financing of the business may be easier, banks are sometimes more likely to lend money to buy a franchise with a good reputation. | |
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