A benefit of this form of business is that it is easier to raise capital and it is taxed at a lower rate.

On-going % of revenue is called this.

A benefit of this form of business is that the product and processes have already been done and you get training and support.

A person or organization purchasing a franchise.

A person or organization granting a franchise.

A con of this form of business is that it costs more to start and maintain and is subject to more paperwork and regulation.

A person who bears the economic uncertainties and risks of starting and running a new business to generate profit and economic value.