A Franchise Agreement is a legal contract between a franchisor and a franchisee. It allows the franchisee to operate a business using the franchisor's brand, trademarks, and business model. In return, the franchisee typically pays an initial fee and ongoing royalties to the franchisor. This agreement outlines the rights and responsibilities of both parties, ensuring that the franchisee adheres to the established standards of the brand. The agreement also includes details about training, support, and marketing provided by the franchisor. It specifies the duration of the franchise, renewal options, and conditions for termination. Overall, a franchise agreement helps maintain consistency and quality across all franchise locations, benefiting both the franchisor and franchisee.