A franchise company is a business model where a company (the franchisor) allows individuals or other businesses (franchisees) to operate using its brand, products, and services. In exchange, franchisees pay fees and royalties to the franchisor. This arrangement helps franchisees benefit from an established brand and support while allowing the franchisor to expand its market presence. Franchise companies can be found in various industries, including fast food, retail, and hospitality. Popular examples include McDonald's, Subway, and Marriott. This model enables rapid growth and brand recognition while providing franchisees with a proven business framework.