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Franchising is a popular business model that allows individuals to own and operate a branch of an established company. For entrepreneurs looking to run their own business, franchising offers a path to success with the support of a proven system. But how does franchising work, and what does it take to start a franchise business? In this article, we will break down the fundamentals of franchising, explore the benefits and challenges, and provide insight into franchise opportunities. Finding a Franchise Opportunity Initial Inquiry and Application Franchise Agreement and Fees Training and Support Running the Business Ongoing Royalties and Fees
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