Franchise: meaning, definitions and examples
๐ข
franchise
[หfrรฆntสaษชz ]
Definitions
business
A franchise is a type of license that a party (franchisee) acquires to allow them to have access to a business's proprietary knowledge, processes, and trademarks in order to allow the party to sell a product or provide a service under the business's name.
Synonyms
authorization, license, permit.
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| franchise |
Used primarily in business contexts, referring to a commercial arrangement where a company allows an individual or another company to operate a business under the company's brand. It may also refer to a right to vote in political contexts.
|
| license |
Often used in legal and business contexts to denote formal permission given by an official authority to do something.
|
| permit |
Generally used for specific permissions granted by an authority, often regarding activities or the use of property, frequently implying formal and bureaucratic approval.
|
| authorization |
Used in official or formal contexts, referring to the act of giving someone the power or permission to do something.
|
Examples of usage
- The fast-food chain offers franchise opportunities to entrepreneurs.
- She decided to buy a franchise of the popular coffee shop.
sports
In sports, a franchise refers to a team that is part of a sports league and has the rights to participate in the league's competitions.
Synonyms
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| franchise |
This term is commonly used in business or sports to refer to a brand or organization that includes multiple teams or branches operating under the same name or ownership. It has a commercial or organizational connotation.
|
| team |
A general word used to describe a group of people working together to achieve a common goal, often in sports or work settings. It's the most versatile and widely used term.
|
| club |
Often used to refer to an organization or a group of people with a common interest, especially in sports or social activities. It gives a sense of community or exclusivity.
|
| squad |
Typically used to describe a small group of people who work closely together or form a team, especially in military, police, or sport contexts. It has a more informal or tactical connotation.
|
Examples of usage
- The basketball franchise has a loyal fan base.
- The football franchise has a long history of success.
Interesting Facts
Etymology
- The word comes from the Old French 'franchir' which means 'to free' or 'to make free'.
- In medieval times, a 'franchise' referred to the right to hold a market or trade freely in a certain area.
- Modern use began in the mid-20th century, primarily in the context of restaurant chains and retail.
Business Development
- Franchising allows individuals to own a business with a proven model, reducing risks compared to starting from scratch.
- The franchise model has grown rapidly, with thousands of brand franchises operating in different sectors worldwide.
- A franchise agreement typically includes fees and royalties in exchange for brand support and operational guidelines.
Cultural Impact
- Franchising has changed how people consume products, leading to the global popularity of fast-food restaurants and convenience stores.
- It has also influenced local economies, providing jobs and contributing to community identity through recognizable brands.
- Franchise brands often face challenges of maintaining quality and reputation across diverse locations.
Legal Aspects
- Franchise laws vary widely by country, with some regions offering stronger protections for franchisors and franchisees.
- Franchise disclosure documents are required in many jurisdictions, ensuring transparency about the business operation.
- The legal relationship between a franchisor and franchisee is often outlined in a detailed contract to protect both parties' rights.
Pop Culture
- Franchises extend beyond food and retail; popular movie series and book franchises have created expanded universes and merchandise.
- The term 'franchise' is also used in sports when a team operates under the brand of a larger organization, like the NFL.
- Successful film or book franchises can span decades, creating a loyal fan base and multiple revenue streams.
Translations
Translations of the word "franchise" in other languages:
๐ต๐น franquia
๐ฎ๐ณ เคซเฅเคฐเฅเคเคเคพเคเคเคผเฅ
๐ฉ๐ช Franchise
๐ฎ๐ฉ waralaba
๐บ๐ฆ ััะฐะฝัะธะทะฐ
๐ต๐ฑ franczyza
๐ฏ๐ต ใใฉใณใใฃใคใบ
๐ซ๐ท franchise
๐ช๐ธ franquicia
๐น๐ท franchise
๐ฐ๐ท ํ๋์ฐจ์ด์ฆ
๐ธ๐ฆ ุงู ุชูุงุฒ
๐จ๐ฟ franลกรญza
๐ธ๐ฐ franลกรญza
๐จ๐ณ ็น่ฎธ็ป่ฅ
๐ธ๐ฎ franลกiza
๐ฎ๐ธ umboรฐ
๐ฐ๐ฟ ััะฐะฝัะธะทะฐ
๐ฌ๐ช แคแ แแแฉแแแแ
๐ฆ๐ฟ franลiza
๐ฒ๐ฝ franquicia