Buying a piece of a tested idea is the central attraction of franchising. This unique approach to business has spread throughout the world, and its success far overshadows its youth as a method of doing business. Franchising is the fastest growing method of doing business in the world today. This book is written for students of franchising as well as franchisors, franchisees, or prospective franchisees. A three-part perspective is developed throughout the book concerning the franchisor-franchisee relationship: First, a franchisor and franchisee are independent businesspeople who must manage their separate business affairs, second, the franchisor and franchisee are dependent upon each other in order to be successful in business, and third, the franchisor-franchisee relationship brings with it an interdependent contractual obligation that is legally binding upon both parties. Many readers have a particularly keen interest in learning about franchising because they see themselves as prospective franchisees. Research. interviews. and observations consistently show that such persons should (1) learn about the nature of franchising. and (2) understand the role of franchisor before, (3) determining if they have what it takes to be successful franchisees. This book is intended to help people develop a clear picture of franchising and franchisors and to provide some insights that will assist them in making their own personal decisions about entering the field. The information in the text is presented in a format designed to answer major franchising questions.