A franchise is an individually owned business that for a fee, allows the franchisee to use the name and trademarks, and to sell the products or services of a corporation. While a business owner may have decided to use franchises to reach more customers, increase market share, and/or shift responsibility for personnel and site-specific decisions, they still need to provide support to the franchisee. The Federal Trade Commission requires a franchisor to give Uniform Franchise Offering Circular (UFOC) to potential franchisees.
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