Franchising involves an established business owner, known as the franchisor, permitting the franchisee to distribute commodities under the franchisor’s label. Franchising is a prospering industry in the country: According to Statista, American franchises generate $670 billion yearly, and there are over 750,000 franchises nationwide. Franchises additionally see higher success rates than small businesses, as there is a business plan to follow and established name recognition.