Franchise definition

What does a franchise mean? Franchising is based on a marketing concept which can be adopted by an organization as a strategy for business expansion. Where implemente a franchisor licenses its know-how, procedures, intellectual property, use of its business model, bran and rights to sell its branded products and services to a franchisee. Franchise definition : A franchise is an authority that is given by an organization to someone, allowing them to. There are three main types of franchise : Business format franchise.

An agreement whereby a business (franchisor), licenses another business (the franchisee) to trade using their branding, business model and a number of other assets, whilst also supplying additional support and guidance as part of the package.

This is the most common type of. The definition of a franchise is not uniform in every state. Some states for example, may also include a marketing plan or community of interest provision in the definition. You’ve heard the term franchise thrown aroun but do you know its definition ? 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 a good or service according to certain specifications. The franchisee usually pays a one-time franchise fee plus a percentage of.

A franchise is a licence granted by a party (franchisor) which owns the brand to an individual or a corporate (franchisee) to have access to their business proprietary knowledge, process, trademarks, and to sell products or provide services under their name within a territory or a region. The other side of the franchise definition From a legal perspective, franchising is a form of a relationship between you and the company you buy a license from. Like in any other type of business partnership, you are supposed to enter into a contract with a franchisor to become the holder of a franchise , meaning that you have a range of legal obligations to fulfil.

Basic franchise definition explained At its most basic level, a franchise is simply a method of expanding an existing business. Licensing arrangements are used to define each individual franchise , with specific terms varying depending on the industry and the specific venture. A media franchise , also known as multimedia franchise , is a collection of related media in which several derivative works have been produced from an original creative work of fiction, such as a film, a work of literature, a television program or a video game.

In addition to paying an. A franchise is a legal and commercial relationship between the owner of a trademark, service mark, trade name, or advertising symbol and an individual or group wishing to use that identification in a business. Every franchise is governed by these terms, which are generally outlined in a written agreement between both parties. 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.

Although most people are aware of the term ‘ franchise ’, and many will have at least a vague understanding of its definition , there are still a lot of people out there who aren’t absolutely sure what a franchise is. Moreover many may be unsure of how it operates and how it differs from the traditional business model. To help clarify the role of the franchise in today’s complex business.

A franchise , also known as a turnkey business, is where a company, known as a franchisor, grants a license to another person or business,. Franchising, broadly speaking, is a means of running a commercial operation using some or all aspects of another business, including its name, brand and products. Franchise development consultants can help with some or all of the process, and will often offer a free initial meeting to discuss viability.

Taking the right advice from a British Franchise Association (BFA) accredited consultant is important, they have proven their understanding of best practice and have a track record of helping businesses franchise. English dictionary definition of franchised. A special privilege given by government to a. Inflection of this word is challenging as it does not readily adapt to Finnish spelling conventions.

In speech the pronouncing goes as if this was a risti-type noun with the exception that the. Franchisor definition , a person or company that grants a franchise. While the definition of a franchise may differ at the state level, under the Federal Trade Commission (“ the FTC Rule ”), which defines franchising throughout the United States, a business relationship qualifies as a franchise if three. A privilege or right granted by law, especially the right to vote in the election of public officials. One who purchases a franchise.

He or she is responsible for certain decisions, but many other decisions (such as the look, name, and products) are already determined by the franchisor and must be kept the same by the franchisee. A franchise differs from a lease, which is a contract for the possession and profits of property in exchange for the payment of rent. Definition of franchise _noun in Oxford Advanced American Dictionary.