I think one place where a franchise differs is that you are buying the brand as well. People are more likely to go into a Subway than a Ma and Pa sandwich shop. People are no more likely to buy real estate (or web apps) from you because you read book X or went to seminar Y.
While there are many franchises that fall into that category (have a network effect) there are actually many more where the brand means absolutely nothing and it is totally knowledge that you are getting.
