<Tr> <Td> </Td> <Td> The examples and perspective in this article deal primarily with the United States and do not represent a worldwide view of the subject . You may improve this article, discuss the issue on the talk page, or create a new article, as appropriate . (November 2014) (Learn how and when to remove this template message) </Td> </Tr> <P> Franchising is based on a marketing concept which can be adopted by an organisation as a strategy for business expansion . Where implemented, a franchiser licenses its know - how, procedures, intellectual property, use of its business model, brand; and rights to sell its branded products and services to a franchisee . In return the franchisee pays certain fees and agrees to comply with certain obligations, typically set out in a Franchise Agreement . </P> <P> The word "franchise" is of Anglo - French derivation--from franc, meaning free--and is used both as a noun and as a (transitive) verb . For the franchiser, use of a franchise system is an alternative business growth strategy, compared to say expansion through corporate owned outlets or "chain stores". Adopting a franchise system business growth strategy for the sale and distribution of goods and services minimizes the franchiser's capital investment and liability risk . </P> <P> As with any business venture, franchising is not immune to risk . But if undertaken in the right way, franchising can be a vehicle of success for both the franchisor and franchisee . </P>

Explain the term franchise in relation to retailing
find me the text answering this question