What Exactly is a Franchise?

In today's Franchise Euphoria Tip of the Day, we get down to the basics.  What is a franchise?  Most people when they think of a franchise think of McDonalds or Subway, but they don't really understand the basic components of a franchise.  There are 3 elements that make up a franchise:  Brand, Marketing plan, Franchise fee.  In this episode, I explain this and share my favorite illustration I have ever read describing a franchise.  Hint:  Michael Gerber gets some attention in this episode!  Hope you enjoy & Happy Franchising!