New to franchising? If so, don't worry! If you want to know the vital facts and benefits of franchising, then read on in this new Business Franchise series!(NEW TO franchising?)

FRANCHISING IS often used to describe many different forms of business relationships, including licensing, distributor and agency arrangements. The more common use of the phrase (which relates to all businesses featured in this magazine) has arisen from the development of what is known as business format franchising.

This is the granting of a licence by one person (the franchisor) to another (the franchisee). It allows the franchisee to trade under the trademark/trade name of the franchisor and to make use of an entire package, comprising all the elements necessary to establish a previously untrained person in the business and to run it with continual assistance on a …