Some ex-Maersk Air UK employees might have something to say about BA and franchises. Some thought they would do better as an independent carrier - ie Duo - but for a number of reasons that didn't work.
Franchising was the "in thing" a few years back with CityFlyer being a prime example - but then it was taken into the BA fold and merged with BA Regional to become BA CitiExpress. There was also the short-lived National Jets Italia which is best not mentioned....