This concept is called franchising. 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 a good or service according to certain specifications.
Franchising arises when a franchisor grants a licence (franchise) to another business (franchisee) to allow it trade using the brand / business format. Examples of well-known franchise business models include McDonalds, Subway, UPS, and H & R Block. Consider this… • There are over 745,000 franchise locations in the United States.
franchise: 1. It is hard to drive more than a few blocks in most towns without seeing a franchise business.
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. Franchising is a major force in the business world. A franchise is a business system in which private entrepreneurs purchase the rights to open and run a location of a larger company. A franchisor grants a licence (the "franchise") to another business (the "franchisee") to allow it to trade using the brand or business format.. That might sound a bit complicated!
franchise meaning: 1. a right to sell a company's products in a particular area using the company's name: 2. the…. The trick is to remember that the franchisor is in charge - the franchisor is the original owner of the business idea.. • There are approximately 3,800 franchise systems operating in the United States, as of the beginning of 2019. 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.
Franchising is based on a marketing concept which can be adopted by an organization as a strategy for business expansion. 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. Definition and examples 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.
See more. Definition of a Franchise Business. franchise: A form of business organization in which a firm which already has a successful product or service (the franchisor) enters into a continuing contractual relationship with other businesses (franchisees) operating under the franchisor's trade name and usually with the franchisor's guidance, in exchange for a fee. Learn more.
Franchise definition 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.
Franchising is a form of business by which the owner (franchisor) of a product, service or method obtains distribution through affiliated dealers (franchisees). Franchise definition 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 …
How to use franchise in a sentence.
• Over the past few years, 250 to 300 businesses annually have developed their concept into a franchise. 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. A franchise, in its simplest definition, is a business opportunity that allows the franchisee (possibly you) to start a business by legally using someone else’s (the franchisor’s) expertise, ideas, and processes. The basic idea for a franchise is this. A right conferred or established by a government, such as the right to vote (exercise one's franchise) in a local or national election.
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