What does "franchise" refer to in the context of Bojangles?

In the context of Bojangles, a "franchise" refers to a business model that permits individuals, or franchisees, to operate their own Bojangles restaurant while using the established brand name, products, and operational guidelines set forth by the parent company. This arrangement allows franchisees to benefit from the recognition and reputation of the Bojangles brand while following specific franchise agreements, which typically include support in areas such as training, marketing, and product supply.

This model is quite prevalent among fast-food chains because it enables faster expansion into new markets without the parent company needing to invest capital or manage every location. It creates a mutually beneficial relationship where franchisees gain from the brand's marketing and operational strategies, while the franchisor, Bojangles in this case, increases its presence through a network of independent operators.

The other answer choices do not accurately represent the concept of franchising. A company-owned restaurant model does not involve individual ownership under franchise agreements, while a non-profit business format and an online-only food delivery service do not align with the traditional definition and operational structure of a franchise system.