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The term Franchise is one of the most common forms of business today. It is a method of practicing and using the rights of a person's business philosophy to your own business.
There are two parties involved which are the franchiser and the franchisee. The franchiser grants the operation rights to another group for distribution of products, techniques and trademarks. A percentage of gross monthly sales and also the royalty fee goes to the franchiser whereas in return the franchisee gets the expertise and training.
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