What does it mean to be a franchisee and a franchisor?

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Also, what do these people do? What is the purpose of a franchisee and a franchisor?

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Franchising is a form of marketing and distribution in which the owner of a business system (the franchisor) grants to an individual or group of individuals (the franchisee) the right to run a business selling a product or providing a service using the franchisor’s business system.

See www.franchisedirect.com.

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