Franchising is a business model where a company (the franchisor) allows individuals or other businesses (franchisees) to operate using its brand, products, and services. In return, franchisees pay fees and royalties to the franchisor. This arrangement helps franchisees benefit from an established brand and proven business methods, while franchisors expand their reach without directly managing each location. For example, popular fast-food chains like McDonald's and Subway use franchising to grow their businesses. Franchisees receive training and support from the franchisor, ensuring consistency in quality and service across all locations. This partnership can lead to mutual success for both parties involved.