Definition of Franchising:
Grant a franchise to (an individual or group).
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 sales revenue as royalty, and gains (1) immediate name recognition, (2) tried and tested products, (3) standard building design and décor, (4) detailed techniques in running and promoting the business, (5) training of employees, and (6) ongoing help in promoting and upgrading of the products. The franchiser gains rapid expansion of business and earnings at minimum capital outlay.
The right to vote in public elections.
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 companys products.
Synonyms of Franchising
Franchise, Right to vote, Voting rights, The vote, Enfranchisement, Ballot, Permit, Allow, Authorize, Give a licence to, Grant a licence to, Give a permit to, Grant a permit to, Give authorization to, Grant authorization to, Give authority to, Grant authority to, Give the right to, Grant the right to, Give leave to, Grant leave to, Give permission to, Grant permission to, Warrant, Charter, Licence, Permit, Authorization, Permission, Sanction
How to use Franchising in a sentence?
- The franchise was limited to Estonian citizens.
- If you have a small business and it starts doing really well you may want to consider franchising to open up many great new opportunities.
- My dad started his new business and immediately began franchising with other companies, which would give us more exposure and it made me excited.
- Toyota granted the group a franchise.
- A franchised dealer.
- Sometimes a small business is doing so well that the owners may get an offer to consider franchising it to expand.
Meaning of Franchising & Franchising Definition