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The document defines franchising as a business model where a franchisor allows a franchisee to operate a business using the franchisor's brand name, trademarks, and systems in exchange for fees and royalties. It notes that the franchisor provides support like financing, advertising, marketing, and training, while the franchisee uses the brand name to expand the business. The main objectives of franchising are rapid growth, market domination, and brand building. There are two main types: product distribution franchises and business format franchises.










