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Business Franchises
Buying a Franchise- What Every Entrepreneur Needs to Know.
by: Howard Schwartz
The concept of franchising is a couple of centuries old. The franchising business and world economies have developed simultaneously. The term ‘franchise’ comes from old French where it meant freedom, or privilege. Franchising goes back to the feudal times when the feudal lords granted permission to their slaves and common men to hold fairs, markets, ferries, and even allowed hunting on their lands.
In the middle ages, kings used the concept of franchising when they gave contracts, or franchises for most of the commercial activities like developing roads, wells, and brewing ale.
As the concept of franchising developed further, it was seen as the right to monopoly that a person got...
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