Explanation:

Types of Franchising :
There are 3 main type of franchising -
1) Product Franchise: A product franchise is a franchising agreement where manufacturers allow retailers to distribute products and use names and trademarks. A product distribution franchise model is very much like a supplier-dealer relationship. Typically, the franchisee merely sells the franchisor’s products. However, this type of franchise will also include some form of integration of the business activities. Example - Coca Cola, Maruti Suzuki  
2) Business format franchise: It is a franchising arrangement where the franchisor provides the franchisee with an established business, including name and trademark, for the franchisee to run independently. The franchisee not only distributes the franchisor’s products and services under the franchisor’s trade mark, but also implements the franchisor’s format and procedure of conducting the business. Example - KFC, Dominos.  
3) Management Franchise: is type of franchise in which The franchisee provides the management expertise, format and/or procedure for conducting the business. Some examples of Management Franchise are Hilton, Hyatt.