Question

Your uncle owns a convenience store that has branches nationwide. His store is an example of a _____.

Answer 1

 A Business Franchise.

Answer 2

The correct answer is a Business Franchise.

If your uncle owns a convenience store that has branches nationwide, his store is an example of a Business Franchise.

A Business Franchise is the business modality in which the owner of a Franchise sells its concept of operation and allows the use of its trademarks, logos, and slogans, as long as the know-how of the business in order to other businessmen can operate this franchise in other parts of the country. The main characteristic of this form of business is that the operation must be exactly the same as the original company, that is why the know-how is taught through operation manuals. Examples of U.S. successful franchises are convenience stores such as 7-Eleven, food chains such as McDonald’s, Wendys, Arby’s, Subway or Taco Bell.