Which of the following occurs, when a company offers a complete brand concept, supplies and logistics to a stakeholder that invests an initial lump sum, and thereafter, pays regular fee to continue the relationship?

Franchising is a business model where the franchisor provides the franchisee with a complete brand concept, supplies, and logistics support in exchange for an initial lump sum payment and ongoing fees. The franchisee operates under the franchisor's brand and system while maintaining independence in business ownership. Distributing involves moving products through channels, merchandising focuses on product promotion and display, and retailing involves selling directly to consumers.