Meaning & Definition of word "Franchise"

noun:

• 1. A franchise is a legal and commercial relationship between the owner of a trademark, service mark, or trade name and another party that provides the rights to operate a business under that trademark or name.
  • Example: McDonald's is one of the most successful franchises in the world, with thousands of locations across the globe.
• 2. A franchise refers to the rights or privileges granted to an individual or organization to sell a company's goods or to operate a business using its brand.
  • Example: The coffee shop was able to expand rapidly due to the popularity of its franchise model.
• 3. A series of related products or activities, particularly in the entertainment industry, that share a common theme or brand.
  • Example: The Marvel franchise includes movies, TV shows, and comic books that feature superheroes.

verb:

• 1. To grant someone the rights to operate a business under a franchise.
  • Example: The company decided to franchise its brand to increase its market presence.
• 2. To create or establish a franchise in a particular market.
  • Example: They plan to franchise their restaurant concept to new cities across the country.