ForumsLegal and Insurance

You profile doesn't say, but I assume from the question that you're in the UK. The parent company (the franchisor) may be a PLC or LTD, but the franchisees will normally be sole traders, partnerships, or private companies (LTD, not PLC) depending on the type of franchise and the market being sold to.

The franchise agreement will carefully spell out all the detailed terms and conditions that answer your other questions specifically -- but in general, the franchisee is licensing (buying the right to use) the tradename, trademarks, etc. of the franchisor. The franchisee profits from operating that licensed/franchised unit, but in most cases would not be an automatic shareholder in the parent (franchisor) company.

Hope that helps. Welcome to the community and best wishes.