Question

ICHOR Restaurant Group was started by Brian Bailey and Tim Hug in 2006 and has since opened three successful restaurant concepts, "Old Carolina BBQ," "Smoke: The Burger Joint," and "Baja West Coast Kitchen" with a dozen corporate-owned locations. They have begun to allow external entrepreneurs to purchase a license to operate their own location(s). Entrepreneurs purchasing such a license are engaging in ______

Answer 1

Answer:

franchising

Explanation:

According to my research on different business strategies, I can say that based on the information provided within the question Entrepreneurs purchasing such a license are engaging in franchising. This is when the owner of a brand licenses the name to a specific individual so that individual can open up his/her own store using that name and reputation. These licenses come with certain requirements placed by the owner of the brand that the buyer must follow.

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