35. What is a Franchise

Even though the franchise model has been around for over 100 years and it has exploded in the last 60, there is still a lot of confusion around what is a franchise. As a matter of fact, if a person is not directly involved in the industry at a mid to high level, they are hard-pressed to be able to accurately describe what a franchise is. In this week's show, we describe what a franchise is and tell you a little of its history so that you can better understand where the model came from and what it does and does not offer.

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