A franchise is a business model where individuals purchase the right to operate a business using established branding and support from the franchisor.
A franchise is a business model where an individual or entity purchases the right to operate a business using the branding and support of the franchisor. In this arrangement, the franchisee pays fees to the franchisor in exchange for access to the established business model, training, and ongoing support.
For example, in the context of the given options, Karen being authorized to sell a specific brand-named experience in her store best describes a franchise, as she would be operating under the branding and guidance of the franchisor while paying fees for the privilege.
Franchises have been popular in various industries, such as fast-food chains like McDonald's, where individual owners operate under the McDonald's brand and system.
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