Buying a Franchise- What Every Entrepreneur Needs to Know.

The concept of franchising is a couple of centuries old. The franchising business and world economies have developed simultaneously. The term 'franchise' comes from old French where it meant freedom, or privilege. Franchising goes back to the feudal times when the feudal lords granted permission to their slaves and common men to hold fairs, markets, ferries, and even allowed hunting on their lands.

In the middle ages, kings used the concept of franchising when they gave contracts, or franchises for most of the commercial activities like developing roads, wells, and brewing ale.

As the concept of franchising developed further, it was seen as the right to monopoly that a person got to perform any kind of a commercial activity. As time passed, several franchises became a part of the European Common Law.

Singer Sewing Machine Company is considered to be the father figure of franchising as most of the concepts of franchising developed by them, form a part of modern day franchising contracts.

.The way in which Singer made its sales and provided services is considered to be modern retailing that is a part of franchising. In the 1850s, Singer brought together teams of salesmen and dealers who were given the rights to distribute sewing machines in different regions. They made written contracts for franchising, which are the basis of modern-day franchise agreements.