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- Dictionaryfranchise/ˈfran(t)ʃʌɪz/
noun
- 1. an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities, for example acting as an agent for a company's products: "Toyota granted the group a franchise" Similar
- 2. the right to vote in public elections: "the franchise was limited to Estonian citizens"
verb
- 1. grant a franchise to (an individual or group): "a franchised dealer"
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2 days ago · A franchise is a business whereby the owner licenses its operations—along with its products, branding, and knowledge—in exchange for a franchise fee.
Franchising is based on a marketing concept which can be adopted by an organization as a strategy for business expansion. Where implemented, a franchisor licenses some or all of its know-how, procedures, intellectual property, use of its business model, brand, and rights to sell its branded products and services to a franchisee. [1] .
The meaning of FRANCHISE is the right or license granted to an individual or group to market a company's goods or services in a particular territory; also : a business granted such a right or license. How to use franchise in a sentence.
Nov 7, 2023 · Understanding Franchise. A franchise is a business arrangement where one party, the franchisor, grants another party, the franchisee, the rights to use its brand, business model, and proprietary knowledge in exchange for a fee.
FRANCHISE definition: 1. a right to sell a company's products in a particular area using the company's name: 2. the…. Learn more.
A franchise (or franchising) is a method of distributing products or services involving a franchisor, who establishes the brand’s trademark or trade name and a business system, and a franchisee, who pays a royalty and often an initial fee for the right to do business under the franchisor's name and system. Technically, the contract binding ...
Franchising is an arrangement in which the franchisor gives the franchisee the right to distribute and sell the franchisor’s goods or services and use its business name and business model for a specified period, and possibly covering a geographical area.
Simply, a franchise is the right or license granted by a company (the franchisor) to an individual or group (the franchisee) to market its products or services in a specific territory or area. How Does a Franchise Work?
Franchise definition: a privilege of a public nature conferred on an individual, group, or company by a government. See examples of FRANCHISE used in a sentence.
a right to sell a company's products in a particular area using the company's name: a fast-food franchise. a franchise holder. Fewer examples. The Commission felt the company were overbidding and gave the franchise to their competitors instead. The company expanded rapidly during the 1980s by means of franchises.
