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Overview:
The video explains franchising as a form of business ownership, using the example of the MegaBeans coffee shop franchise. A franchisor sells the rights to operate under their brand to franchisees, who pay an initial setup fee and a percentage of profits. Franchising allows for quick expansion and consistency but comes with a lot of responsibility. Examples of franchises like McDonald’s and Starbucks are also used to explain the concept in more detail.
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