The following excerpt is from Rick Grossmann’s book Franchise Bible. Buy it now from Amazon | Barnes & Noble | IndieBound
The definition of a franchise (taken from the federal definition of a franchise — 16 Code of Federal Regulation 436 et seq.) and paraphrased here is: (a) “franchisor’s” (owner of the trademark) grant to franchisee (person or entity granted the right to use the trademark) of the right to use franchisor’s trademark; (b) for a fee; (c) and franchisor exerts a “significant degree of control over the franchisee’s method of operation,” or “provides significant assistance in the franchisee’s method of operation.”
Related: The 28 Facts
source http://www.omnipopmag.com/2017/03/17/the-pros-and-cons-of-franchising-your-business/
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