With a few exceptions, true. Many are mixed though. For example, McDonald's is mostly (like 99%) franchised with a few company stores where they feel that the market in the area needs to be developed for a few years before it is profitable. A few are stores that the franchisee did not follow the rules and procedures set out by the company and the company exercised its option to take over the operation. Chains like In-N-Out and Carl's Jr are not franchised at all.
