Franchise Definition Business Studies
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A franchise is a license that a party franchisee purchases that allows them access to use a business s franchisor proprietary knowledge processes and trademarks to sell products or provide.
Franchise definition business studies. It does this by providing the person or other business with a licence. A franchisor grants a licence the franchise to another business the franchisee to allow it to trade using the brand or business format. Franchise definition 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. A franchise is a business that gives the right to another person or business to sell goods.
That might sound a bit complicated.