Franchising is best described as:

Franchising is best described as a system where a franchisor grants a license to a franchisee. This relationship allows the franchisee to operate a business using the franchisor's established brand, business model, and support systems. The franchisor provides the necessary training, marketing assistance, and operational guidelines, while the franchisee pays fees or royalties for the rights to operate under the franchisor's trademark and business practices.

This arrangement benefits both parties: the franchisor expands its brand footprint with less capital investment and risk, and the franchisee gains the advantage of operating a business with a recognized name and proven model, which can increase their chances of success in the marketplace. This clear delineation of roles and responsibilities within the franchising model makes it an effective and popular approach in various industries.