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Meaning of franchise

 

 

 

Franchise

 

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Business glossary

 

Meaning of term franchise :

 

A franchise is a type of business organisation where the owner buys into an existing business idea but they keep control over the business. For the right to use the business name, idea and products they will pay a franchise fee and they may have to buy their products from the franchisor or pay a royalty. Examples of franchises include the Body Shop, Dyno-Rod, McDonalds, the Holiday Inn and Mailboxes etc. However, there are many other examples and franchising has grown much more popular as a method of business start-up over the last decade.

 

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Franchise

 

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Meaning of term franchise

 

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