Definition of franchise in business terms Queenstown
Franchise financial definition of franchise
Franchise dictionary definition franchise defined. Franchise Terms The following glossary of franchise terms has been meticulously constructed to be as accurate as possible. While some terms are based on generally accepted definitions, other terms may be sub‐ ject to differing interpretations and uses. Franchising is an evolv‐, A “Franchise means any continuing commercial relationship or arrangement, whatever it may be called, in which the terms of the offer or contract specify, or the franchise seller promises or represents, orally or in writing, that: (1) The franchisee will obtain the right to operate ….
What is franchising? definition and meaning
Franchise Definition What is a Franchise?. 6/4/2019В В· Franchise vs Business Opportunity. So, how does a franchise differ from a business opportunity? Well, they are both ways to set up a business without having to start from scratch, but they have some fundamental differences. A business opportunity is the sale or lease of any product, equipment or service that enables the purchaser to start a, Franchisee's business organization is of great concern to the franchisor. Franchisor may require that the business have a particular form and capital structure. May also provide standards of operation in terms of sales quotas, quality, and record keeping..
You are granted a particular time frame in which to conduct business as a franchisee in your initial Franchise Agreement. The franchise agreement should also state the terms and conditions to renew that business relationship. Renewal is the resigning of a Franchise Agreement after the initial or subsequent terms of the franchise expires. Royalty Definition: Franchise. A franchise is a right granted to an individual or group to market a company's already successful goods or services within a certain territory or location operating under the franchisor's trade name and usually with the franchisor's guidance, in exchange for a fee.
By definition, a franchise is a form of business organization in which a firm is already successful because of a good product or service called the franchisor, who gets into a contract based relationship with another business called a franchisee, who operates under the name of the franchisor for a fee. Definition: Franchise. A franchise is a right granted to an individual or group to market a company's already successful goods or services within a certain territory or location operating under the franchisor's trade name and usually with the franchisor's guidance, in exchange for a fee.
What is Franchising? Franchising is not a business itself, but a way of doing business. It is essentially a marketing concept - an innovative method of distributing goods and services. It is also an extremely successful and rapidly growing aspect of Australia's small business sector. Franchisee's business organization is of great concern to the franchisor. Franchisor may require that the business have a particular form and capital structure. May also provide standards of operation in terms of sales quotas, quality, and record keeping.
While some franchise terms are based on generally accepted definitions, other franchise terms may be subject to differing interpretations and uses. Franchising is an evolving and changing business format and, as such, the terminology used by its practitioners is similarly fluid. Definition: Franchise. It is a word to explain the privilege or right to use any product or service. In business terms it can be said as giving the operational rights to use the trademark or brand.
Franchise definition, a privilege of a public nature conferred on an individual, group, or company by a government: a franchise to operate a bus system. See more. Definition of BUSINESS FRANCHISE TAX: A franchise tax is charged by a state to corporations and other business entities (LLCs in some states). The Law Dictionary Featuring Black's Law Dictionary Free Online Legal Dictionary 2nd Ed.
Franchise definition: A franchise is an authority that is given by an organization to someone, allowing them to... Meaning, pronunciation, translations and examples If a company franchises its business, Definition of franchise from the Collins English Dictionary. New … Definition of franchise: A right conferred or established by a government, such as the right to vote (exercise one's franchise) in a local or national election. Starting a franchise can be a good business decision. But deciding which company to work with can get confusing. Mentioned in These Terms. uniform franchise offering circular
6/4/2019В В· Franchise vs Business Opportunity. So, how does a franchise differ from a business opportunity? Well, they are both ways to set up a business without having to start from scratch, but they have some fundamental differences. A business opportunity is the sale or lease of any product, equipment or service that enables the purchaser to start a A franchise is merely a temporary business investment involving renting or leasing an opportunity, not the purchase of a business for the purpose of ownership. It is classified as a wasting asset due to the finite term of the license. Franchise fees are on average 6.7% with an additional average marketing fee of 2%.
What is a Franchise? Definition Meaning Example. What is Franchising? Franchising is not a business itself, but a way of doing business. It is essentially a marketing concept - an innovative method of distributing goods and services. It is also an extremely successful and rapidly growing aspect of Australia's small business sector., A franchise business is a business in which the owners, or franchisers, sell the rights to their business logo and model to third parties, called franchisees. It is hard to drive more than a few blocks in most towns without seeing a franchise business. Examples of well-known franchise business models include McDonalds, Subway, UPS, and H & R Block..
Glossary of Franchise Terms Common terms used in the
16 Common Franchise Terms Explained Entrepreneur. Franchise definition: A franchise is an authority that is given by an organization to someone, allowing them to... Meaning, pronunciation, translations and examples, Definition of Franchise. By definition, a franchise is a form of business organization in which a firm is already successful because of a good product or service called the franchisor, who gets into a contract based relationship with another business called a franchisee, who operates under the name of the franchisor for a fee.Franchise has become a popular business concept these days and many.
Franchise meaning and definition in business and
Glossary Franchise Terms. 6/4/2019В В· Franchise vs Business Opportunity. So, how does a franchise differ from a business opportunity? Well, they are both ways to set up a business without having to start from scratch, but they have some fundamental differences. A business opportunity is the sale or lease of any product, equipment or service that enables the purchaser to start a https://en.wikipedia.org/wiki/Media_franchise Definition: Franchise. A franchise is a right granted to an individual or group to market a company's already successful goods or services within a certain territory or location operating under the franchisor's trade name and usually with the franchisor's guidance, in exchange for a fee..
Licensing and franchising can be done both as a business owner and as someone looking to enter a specific market. If you are a business owner, you may want to license the use of your brand or products to another business in order to gain more exposure for your company and earn revenue on the side. Definition: A franchise is the license to make or sell a product under certain conditions granted by the owner of these rights. In other words, a franchise is the right to produce a licensed product by the owner of the license. In this contact, the franchisee pays the franchiser for the right to use the licensed material.
Franchisee's business organization is of great concern to the franchisor. Franchisor may require that the business have a particular form and capital structure. May also provide standards of operation in terms of sales quotas, quality, and record keeping. A “Franchise means any continuing commercial relationship or arrangement, whatever it may be called, in which the terms of the offer or contract specify, or the franchise seller promises or represents, orally or in writing, that: (1) The franchisee will obtain the right to operate …
6/4/2019 · As a start-up or experienced franchisor, it’s important to understand that franchising your business is a continuous journey of improving business systems and expanding your brand. Ensure you speak to a proper franchise solicitor, a franchise consultant and the franchise departments of your bank – all as a minimum. Definition of franchise: A right conferred or established by a government, such as the right to vote (exercise one's franchise) in a local or national election. Starting a franchise can be a good business decision. But deciding which company to work with can get confusing. Mentioned in These Terms. uniform franchise offering circular
6/4/2019 · As a start-up or experienced franchisor, it’s important to understand that franchising your business is a continuous journey of improving business systems and expanding your brand. Ensure you speak to a proper franchise solicitor, a franchise consultant and the franchise departments of your bank – all as a minimum. What is the meaning / definition of Hotel Franchise in the hospitality industry? A Franchise is the right to use the brand and the business model of a specific parent company for a prescribed period of time. It is a method for expanding a business and distributing products and services through a
Definition: Franchise. It is a word to explain the privilege or right to use any product or service. In business terms it can be said as giving the operational rights to use the trademark or brand. Definition: Franchise. It is a word to explain the privilege or right to use any product or service. In business terms it can be said as giving the operational rights to use the trademark or brand.
A franchise is a right granted by a government or corporation to an individual or group of individuals. One of the most important government-issued rights — so important it's … Definition of BUSINESS FRANCHISE TAX: A franchise tax is charged by a state to corporations and other business entities (LLCs in some states). The Law Dictionary Featuring Black's Law Dictionary Free Online Legal Dictionary 2nd Ed.
5/11/2016В В· The territory is one of the most important franchise agreement terms to negotiate, and it is one over which many companies are willing to budge. "You can push for a better definition of this Definition of franchise: A form of business organization in which a firm which already has a successful product or service (the franchisor) enters into...
Franchising is a major force in the business world. Consider this… • There are over 745,000 franchise locations in the United States. • There are approximately 3,800 franchise systems operating in the United States, as of the beginning of 2019. • Over the past few years, 250 to 300 businesses annually have developed their concept into a franchise. Business Plan A planning document that details the objectives for the business and establishes processes and measures for meeting those objectives. Capital Required The amount of cash you are required to have available in order to purchase a franchise or business opportunity. Churning
What Are the Basics of a Franchise?
What is BUSINESS FRANCHISE TAX? definition of BUSINESS. What is the meaning / definition of Hotel Franchise in the hospitality industry? A Franchise is the right to use the brand and the business model of a specific parent company for a prescribed period of time. It is a method for expanding a business and distributing products and services through a, Definition of franchise. Used in print (The New York Times,...) When that failed , he enlisted Branch_Rickey 's aid in the formation of a third major_league , the Continental , with New_York as the key franchise.. The New_York franchise is headed by Mrs._Charles_Shipman_Payson ..
What is a franchise? definition and meaning
What is a Franchise? Definition Meaning Example. A franchise business is a business in which the owners, or franchisers, sell the rights to their business logo and model to third parties, called franchisees. It is hard to drive more than a few blocks in most towns without seeing a franchise business. Examples of well-known franchise business models include McDonalds, Subway, UPS, and H & R Block., Definition of franchising: Arrangement where one party (the franchiser) grants another party (the franchisee) the right to use its trademark or trade-name as well as certain business systems and processes, to produce and market.
Define franchise. franchise synonyms, franchise pronunciation, franchise translation, English dictionary definition of franchise. n. 1. A privilege or right granted by law, especially the right to vote in the election of public officials. 2. A special privilege given by government to a... Business Format Franchise definition "Business Format Franchise definition, In Business Format Franchise the franchisor gives the permission to the franchisee for use of product, service and trademark. The entire business format is also taught to the franchisee including marketing, selling, inventory, accounting and personnel pro
Definition of Franchise. By definition, a franchise is a form of business organization in which a firm is already successful because of a good product or service called the franchisor, who gets into a contract based relationship with another business called a franchisee, who operates under the name of the franchisor for a fee.Franchise has become a popular business concept these days and many Franchise An agreement in which an entrepreneur buys a license to use another business' products, brand, proprietary knowledge, and trade secrets. This allows the entrepreneur to start a business without building up his/her own brand or products. This is a common way to start a business, especially in highly competitive industries. An industry that
The definition of what is a franchise can vary significantly under the laws in some states and it is important that you don’t simply rely on the federal definition of a franchise in understanding any particular state’s requirements. Definition of BUSINESS FRANCHISE TAX: A franchise tax is charged by a state to corporations and other business entities (LLCs in some states). The Law Dictionary Featuring Black's Law Dictionary Free Online Legal Dictionary 2nd Ed.
Franchise: A franchise is a type of license that a party (franchisee) acquires to allow them to have access to a business's (the franchiser) proprietary knowledge, processes, and trademarks in A franchise is merely a temporary business investment involving renting or leasing an opportunity, not the purchase of a business for the purpose of ownership. It is classified as a wasting asset due to the finite term of the license. Franchise fees are on average 6.7% with an additional average marketing fee of 2%.
Meaning and definition of franchise : franchise a business that uses the name, logo and trading systems of an existing successful business. For the term franchise may also exist other definitions and meanings, the meaning and definition indicated above are indicative not be … What is the meaning / definition of Hotel Franchise in the hospitality industry? A Franchise is the right to use the brand and the business model of a specific parent company for a prescribed period of time. It is a method for expanding a business and distributing products and services through a
6/4/2019 · As a start-up or experienced franchisor, it’s important to understand that franchising your business is a continuous journey of improving business systems and expanding your brand. Ensure you speak to a proper franchise solicitor, a franchise consultant and the franchise departments of your bank – all as a minimum. Franchise Fee Law and Legal Definition Franchise fee is any fee or charge that a franchisee or subfranchisor is required to pay or agrees to pay for the right to enter into a business or to continue a business under a franchise agreement.
6/4/2019В В· Franchise vs Business Opportunity. So, how does a franchise differ from a business opportunity? Well, they are both ways to set up a business without having to start from scratch, but they have some fundamental differences. A business opportunity is the sale or lease of any product, equipment or service that enables the purchaser to start a Definition: Franchise. It is a word to explain the privilege or right to use any product or service. In business terms it can be said as giving the operational rights to use the trademark or brand.
The definition of what is a franchise can vary significantly under the laws in some states and it is important that you don’t simply rely on the federal definition of a franchise in understanding any particular state’s requirements. Licensing and franchising can be done both as a business owner and as someone looking to enter a specific market. If you are a business owner, you may want to license the use of your brand or products to another business in order to gain more exposure for your company and earn revenue on the side.
Franchise Fee Law and Legal Definition USLegal Inc.. You are granted a particular time frame in which to conduct business as a franchisee in your initial Franchise Agreement. The franchise agreement should also state the terms and conditions to renew that business relationship. Renewal is the resigning of a Franchise Agreement after the initial or subsequent terms of the franchise expires. Royalty, 5/11/2016В В· The territory is one of the most important franchise agreement terms to negotiate, and it is one over which many companies are willing to budge. "You can push for a better definition of this.
Franchising Definition Entrepreneur Small Business
Franchising Definition Entrepreneur Small Business. GLOSSARY OF COMMON FRANCHISE TERMS. Some brokers like to call themselves franchise consultants, but this is a misnomer (see franchise consultant definition below). Business Format Franchising (BFF): A franchise occurs when a business (the franchisor) licenses its trade name (the brand) and its operating methods (its system of doing business, franchisee definition: The definition of a franchisee is a person who is granted the right to market a company's product in a certain geographical area. (noun) A person who buys the right to open a store under the Dairy Queen brand name is an example of a....
Franchise definition of franchise by The Free Dictionary. A franchise is a right granted by a government or corporation to an individual or group of individuals. One of the most important government-issued rights — so important it's …, Franchise Terms The following glossary of franchise terms has been meticulously constructed to be as accurate as possible. While some terms are based on generally accepted definitions, other terms may be sub‐ ject to differing interpretations and uses. Franchising is an evolv‐.
What is a Franchise? IFA
What is a Franchise? IFA. Definition: A continuing relationship in which a franchisor provides a licensed privilege to the franchisee to do business and offers assistance in organizing, training, merchandising, marketing https://en.wikipedia.org/wiki/Media_franchise You are granted a particular time frame in which to conduct business as a franchisee in your initial Franchise Agreement. The franchise agreement should also state the terms and conditions to renew that business relationship. Renewal is the resigning of a Franchise Agreement after the initial or subsequent terms of the franchise expires. Royalty.
Franchise definition: A franchise is an authority that is given by an organization to someone, allowing them to... Meaning, pronunciation, translations and examples If a company franchises its business, Definition of franchise from the Collins English Dictionary. New … Franchise: A franchise is a type of license that a party (franchisee) acquires to allow them to have access to a business's (the franchiser) proprietary knowledge, processes, and trademarks in
While some franchise terms are based on generally accepted definitions, other franchise terms may be subject to differing interpretations and uses. Franchising is an evolving and changing business format and, as such, the terminology used by its practitioners is similarly fluid. franchisee definition: The definition of a franchisee is a person who is granted the right to market a company's product in a certain geographical area. (noun) A person who buys the right to open a store under the Dairy Queen brand name is an example of a...
By definition, a franchise is a form of business organization in which a firm is already successful because of a good product or service called the franchisor, who gets into a contract based relationship with another business called a franchisee, who operates under the name of the franchisor for a fee. Definition: A franchise is the license to make or sell a product under certain conditions granted by the owner of these rights. In other words, a franchise is the right to produce a licensed product by the owner of the license. In this contact, the franchisee pays the franchiser for the right to use the licensed material.
Definition of Franchise. By definition, a franchise is a form of business organization in which a firm is already successful because of a good product or service called the franchisor, who gets into a contract based relationship with another business called a franchisee, who operates under the name of the franchisor for a fee.Franchise has become a popular business concept these days and many • The European Franchise Federation promotes and defends the following definition of (business) Franchising because it details the essential elements of a franchise agreement. In particular it highlights the cornerstone of any franchise system which is the KNOW-HOW it …
A franchise business is a business in which the owners, or franchisers, sell the rights to their business logo and model to third parties, called franchisees. It is hard to drive more than a few blocks in most towns without seeing a franchise business. Examples of well-known franchise business models include McDonalds, Subway, UPS, and H & R Block. What is the meaning / definition of Hotel Franchise in the hospitality industry? A Franchise is the right to use the brand and the business model of a specific parent company for a prescribed period of time. It is a method for expanding a business and distributing products and services through a
What is the meaning / definition of Hotel Franchise in the hospitality industry? A Franchise is the right to use the brand and the business model of a specific parent company for a prescribed period of time. It is a method for expanding a business and distributing products and services through a Definition: A franchise is the license to make or sell a product under certain conditions granted by the owner of these rights. In other words, a franchise is the right to produce a licensed product by the owner of the license. In this contact, the franchisee pays the franchiser for the right to use the licensed material.
Definition of BUSINESS FRANCHISE TAX: A franchise tax is charged by a state to corporations and other business entities (LLCs in some states). The Law Dictionary Featuring Black's Law Dictionary Free Online Legal Dictionary 2nd Ed. Definition: A continuing relationship in which a franchisor provides a licensed privilege to the franchisee to do business and offers assistance in organizing, training, merchandising, marketing
A “Franchise means any continuing commercial relationship or arrangement, whatever it may be called, in which the terms of the offer or contract specify, or the franchise seller promises or represents, orally or in writing, that: (1) The franchisee will obtain the right to operate … franchise definition: The definition of a franchise is permission granted by the government or by a company to take a certain action, or a franchise is the entity which has such authorization. (noun) When the Dairy Queen company gives an investor permi...
Franchise definition of franchise by The Free Dictionary
EFF Franchising definition & descriptions. The definition of what is a franchise can vary significantly under the laws in some states and it is important that you don’t simply rely on the federal definition of a franchise in understanding any particular state’s requirements., franchise definition: The definition of a franchise is permission granted by the government or by a company to take a certain action, or a franchise is the entity which has such authorization. (noun) When the Dairy Queen company gives an investor permi....
Franchise
Hotel Franchise Definition Glossary for Hotel Revenue. A franchise is a right granted by a government or corporation to an individual or group of individuals. One of the most important government-issued rights — so important it's …, The definition of what is a franchise can vary significantly under the laws in some states and it is important that you don’t simply rely on the federal definition of a franchise in understanding any particular state’s requirements..
GLOSSARY OF COMMON FRANCHISE TERMS. Some brokers like to call themselves franchise consultants, but this is a misnomer (see franchise consultant definition below). Business Format Franchising (BFF): A franchise occurs when a business (the franchisor) licenses its trade name (the brand) and its operating methods (its system of doing business Licensing and franchising can be done both as a business owner and as someone looking to enter a specific market. If you are a business owner, you may want to license the use of your brand or products to another business in order to gain more exposure for your company and earn revenue on the side.
Definition: A franchise is the license to make or sell a product under certain conditions granted by the owner of these rights. In other words, a franchise is the right to produce a licensed product by the owner of the license. In this contact, the franchisee pays the franchiser for the right to use the licensed material. A “Franchise means any continuing commercial relationship or arrangement, whatever it may be called, in which the terms of the offer or contract specify, or the franchise seller promises or represents, orally or in writing, that: (1) The franchisee will obtain the right to operate …
Definition: A continuing relationship in which a franchisor provides a licensed privilege to the franchisee to do business and offers assistance in organizing, training, merchandising, marketing Meaning and definition of franchise : franchise a business that uses the name, logo and trading systems of an existing successful business. For the term franchise may also exist other definitions and meanings, the meaning and definition indicated above are indicative not be …
A franchise is a right granted by a government or corporation to an individual or group of individuals. One of the most important government-issued rights — so important it's … Franchising is a major force in the business world. Consider this… • There are over 745,000 franchise locations in the United States. • There are approximately 3,800 franchise systems operating in the United States, as of the beginning of 2019. • Over the past few years, 250 to 300 businesses annually have developed their concept into a franchise.
5/11/2016В В· The territory is one of the most important franchise agreement terms to negotiate, and it is one over which many companies are willing to budge. "You can push for a better definition of this Definition: Franchise. A franchise is a right granted to an individual or group to market a company's already successful goods or services within a certain territory or location operating under the franchisor's trade name and usually with the franchisor's guidance, in exchange for a fee.
Definition: A franchise is the license to make or sell a product under certain conditions granted by the owner of these rights. In other words, a franchise is the right to produce a licensed product by the owner of the license. In this contact, the franchisee pays the franchiser for the right to use the licensed material. Define franchise. franchise synonyms, franchise pronunciation, franchise translation, English dictionary definition of franchise. n. 1. A privilege or right granted by law, especially the right to vote in the election of public officials. 2. A special privilege given by government to a...
Franchise Glossary A Resource of The Educated Franchisee
Franchise ReadyRatios Financial Analysis. Licensing and franchising can be done both as a business owner and as someone looking to enter a specific market. If you are a business owner, you may want to license the use of your brand or products to another business in order to gain more exposure for your company and earn revenue on the side., Franchise Fee Law and Legal Definition Franchise fee is any fee or charge that a franchisee or subfranchisor is required to pay or agrees to pay for the right to enter into a business or to continue a business under a franchise agreement..
What is a Franchise Business? Franchise Information. 1 a business arrangement whereby a trader allows another to use his business expertise and to utilize the goodwill of the business and perhaps share its intellectual property in return for fees and commissions or a single price. The legal implications and documentation differ depending on the kind of franchise, but the arrangement produces money only because of the web of contractual, A franchise business is a business in which the owners, or franchisers, sell the rights to their business logo and model to third parties, called franchisees. It is hard to drive more than a few blocks in most towns without seeing a franchise business. Examples of well-known franchise business models include McDonalds, Subway, UPS, and H & R Block..
What is Franchising Franchise Council of Australia
Franchise legal definition of franchise. Definition of franchise: A form of business organization in which a firm which already has a successful product or service (the franchisor) enters into... https://en.wikipedia.org/wiki/Media_franchise Definition: Franchise. It is a word to explain the privilege or right to use any product or service. In business terms it can be said as giving the operational rights to use the trademark or brand..
franchise definition: The definition of a franchise is permission granted by the government or by a company to take a certain action, or a franchise is the entity which has such authorization. (noun) When the Dairy Queen company gives an investor permi... Franchise An agreement in which an entrepreneur buys a license to use another business' products, brand, proprietary knowledge, and trade secrets. This allows the entrepreneur to start a business without building up his/her own brand or products. This is a common way to start a business, especially in highly competitive industries. An industry that
Definition of Franchise. By definition, a franchise is a form of business organization in which a firm is already successful because of a good product or service called the franchisor, who gets into a contract based relationship with another business called a franchisee, who operates under the name of the franchisor for a fee.Franchise has become a popular business concept these days and many While some franchise terms are based on generally accepted definitions, other franchise terms may be subject to differing interpretations and uses. Franchising is an evolving and changing business format and, as such, the terminology used by its practitioners is similarly fluid.
• The European Franchise Federation promotes and defends the following definition of (business) Franchising because it details the essential elements of a franchise agreement. In particular it highlights the cornerstone of any franchise system which is the KNOW-HOW it … Meaning and definition of franchise : franchise a business that uses the name, logo and trading systems of an existing successful business. For the term franchise may also exist other definitions and meanings, the meaning and definition indicated above are indicative not be …
Business Format Franchise definition "Business Format Franchise definition, In Business Format Franchise the franchisor gives the permission to the franchisee for use of product, service and trademark. The entire business format is also taught to the franchisee including marketing, selling, inventory, accounting and personnel pro You are granted a particular time frame in which to conduct business as a franchisee in your initial Franchise Agreement. The franchise agreement should also state the terms and conditions to renew that business relationship. Renewal is the resigning of a Franchise Agreement after the initial or subsequent terms of the franchise expires. Royalty
Definition of franchise: A form of business organization in which a firm which already has a successful product or service (the franchisor) enters into... A franchise is a right granted by a government or corporation to an individual or group of individuals. One of the most important government-issued rights — so important it's …
GLOSSARY OF COMMON FRANCHISE TERMS. Some brokers like to call themselves franchise consultants, but this is a misnomer (see franchise consultant definition below). Business Format Franchising (BFF): A franchise occurs when a business (the franchisor) licenses its trade name (the brand) and its operating methods (its system of doing business 6/4/2019 · As a start-up or experienced franchisor, it’s important to understand that franchising your business is a continuous journey of improving business systems and expanding your brand. Ensure you speak to a proper franchise solicitor, a franchise consultant and the franchise departments of your bank – all as a minimum.
A “Franchise means any continuing commercial relationship or arrangement, whatever it may be called, in which the terms of the offer or contract specify, or the franchise seller promises or represents, orally or in writing, that: (1) The franchisee will obtain the right to operate … Definition: Franchise. It is a word to explain the privilege or right to use any product or service. In business terms it can be said as giving the operational rights to use the trademark or brand.
Definition of franchise: A form of business organization in which a firm which already has a successful product or service (the franchisor) enters into... GLOSSARY OF COMMON FRANCHISE TERMS. Some brokers like to call themselves franchise consultants, but this is a misnomer (see franchise consultant definition below). Business Format Franchising (BFF): A franchise occurs when a business (the franchisor) licenses its trade name (the brand) and its operating methods (its system of doing business