A franchise is a method of doing business in which ________. an entrepreneur

A franchise is a method of doing business in which ________.
      
an entrepreneur sets up and manages a small business based on an innovative idea or product
      
a company's products or services are sold to independent third-party operators under the company's name
      
a company buys ownership of another company and absorbs its employees and customer base into its own structure
      
a business is able to achieve rapid sales growth in the service sector due to taking advantage of many advertising opportunities
      
a small company is bought by a larger one and is absorbed into its existing structure