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A franchise is where you “purchase” the opportunity to open a business that is associated with a company.

Most fast food restaurant chains both own some locations and franchise others (such as McDonald’s.) Now, many other types of companies offer franchise opportunities such as clothing, audio/video, health clubs and more. Although the actual franchise would be located outside your home, the franchise office could be located inside your home.

A franchise can be more costly to start up than say a MLM or Internet based business - but typically, a company won’t let you start unless they have done the math and there is a good chance of your success.