Small Business, Entrepreneurship, and Franchises Franchisers grow by licensing their operations to local franchisees.
Franchisees receive training, name recognition, and proven operational methods.
They work hard, first learning the business and then finding ways to build a loyal customer following. In the process, they generate jobs and contribute to the growth of the local economy. Franchises are one of many types of small business discussed in this chapter. We begin with a definition of small business , a description of industries that often attract small businesses, and a profile of some of the people who start small businesses. Next we consider the importance of small businesses in our economy.