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Franchises Another type of business is a FRANCHISE. Gordon Chester could also consider changing his ownership to a Franchise- making him a FRANCHISOR. If Gordon Chester wishes to change his ownership to a franchise he will be controlling other businesses that want to trade under Fit - for - Life. A franchise ownership is one where a business gives other businesses the right to sell goods and services under its name, in return for total control over the business. A franchisee seeks independence that goes hand in hand with the business ownership. Unlike a PLC franchises do not have different owners. The FRANCHISEE is prepared to pay good money for this set up. To be ethical a franchise system must be transparent. There can be no part of the system that is hidden from the franchisee. The principle applies to everything in the system: the pricing structure, how the marketing money is...

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