what is the difference between joint venture and franchising?

Joint venture  refers to a business agreement in which two or more organisations come together to achieve mutual benefits and gains.The business organisations in a joint venture share their physical, financial and human resources.Also, the partner firms share their losses and profits mutually in the joint venture form of business.

On the other hand,  
Franchising implies granting of rights by the franchisor or owner of a product or service to the dealers or franchisees to use their (franchisor’s) business model in return of monetary consideration. The franchisor may provide assistance in organizing, training, marketing and managing. For e.g. McDonalds store is a franchisee of parent company. 

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