Higher education franchise is actively discussed in academic and policy community as a successful internationalization. This study analyze the characteristics of higher education franchise program. To attain this aim, we review the meaning, characteristics, institutional status and necessity of franchise in higher education and analyze the characteristics of franchise in terms of quality assurance, standardization, localization. Comparing Korea, UK and U.S.A. guidelines, this research finds that Korean franchise guideline regulate pre-qualification, the type of franchise which focus on formal aspects while lack in content regulation such as student experience, performance and localization. In contrast to Korea, UK and U.S.A. do not regulate qualification for franchise while they focus on student experience and performance. From these results, this study provides some implications that Korean franchise have to consider comparability of program and focus on student experience, performance.