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A Franchise is the right to use a brand name, usually coupled with training and support in operating a pre-defined business model. Typically, the franchise owner pays an up-front franchise fee plus ongoing royalty payments based on a percentage of gross sales.

Typically a franchise investment requires significant financial commitments, as well as incurring legal obligations that can last ten years or more. A high degree of franchise due diligence is highly recommended. Unfortunately many first-time franchise buyers leap into complicated franchise relationship with little or no prior franchise due diligence.

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Q: What does it mean to be a franchise?
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