What exactly is a franchise?
When one hears the word franchise, the first thing that comes to mind is the well-known brands in one’s town or suburb. In Australia alone, there are 1,100 franchised brands and they run over 80,000 franchises. Franchising business got a head start in Australia in the 1970s. Nowadays, one can find a franchise for nearly all products or services. Let’s take a closer look at what franchising means: Franchising may be defined as an ongoing …