A capital needs to be invested to owe a franchise, which is usually needed for renovation, franchise fee and other necessasary tools/equipments. The fee paid to franchise is usually for using the brand name, traning and evaluation support.
A written contract/agreement is signed by both the parties, i.e franchise and franchisor which includes terms and conditions of the business. The agreement usually complies of rights, responsibilities, term of agreement and country specific laws.

Almost every leading company provides franchise opportunities to spread their business/brand in every part of the region, UK Franchise Opportunities is the best example of it. Franchise opportunities are good  profitable business for those who have some cash or time to invest.