Franchise business dictionary pdf

Franchising, business ownership, franchise information glossary of terms franchise. Franchising is a form of business by which the owner franchisor of a product, service or method obtains distribution through affiliated dealers franchisees. Definition of franchise written for english language learners from the merriamwebster learners dictionary with audio pronunciations, usage examples, and countnoncount noun labels. An overview of franchising in the hospitality industry of turkey.

With over 300 terms, our dictionary is designed to help you better understand the terms that you will come across daily while running your business. Franchise definition, a privilege of a public nature conferred on an individual, group, or company by a government. Browse through our collection of franchise opportunities. Franchise definition of franchise by merriamwebster. Franchisee characteristics that influence franchise business. However strong, smart and good looking, the franchise is nothing compared to his girlfriend. Franchising is an evolving and changing business format and, as such, the terminology used by its practitioners is similarly fluid. A glossary of common franchise terms, from acknowledgement of receipt to. Franchise meaning in the cambridge english dictionary. Advertising feean annual fee paid by the franchisee to the franchisor for corporate advertising expenditures. The franchisor grants to the franchisee the exclusive power to distribute its products or services in establishments which are equivalently equipped and furnished, as well as the right to use intellectual property rights commercial signs, brands, trademarks etc. Franchise definition is the right or license granted to an individual or group to market a companys goods or services in a particular territory.

While some franchise terms are based on generally accepted definitions, other franchise terms may be subject to differing interpretations and uses. The franchisee usually pays a onetime 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 decor, 4 detailed techniques in running and promoting the business, 5 training of employees, and 6 ongoing help in promoting and. When choosing a franchise, you want to find a business that produces. Arrangement where one party the franchiser grants another party the franchisee the right to use its trademark or tradename as well. Business format franchises, on the other hand, not only use a franchisors product, service and trademark, but also the complete method to conduct the business itself, such as the marketing plan and operations manuals. The franchisor will generally approve several suppliers for each item and the franchisee may purchase the items from any of. Acknowledgement of receiptincluded in the franchise disclosure document fdd, it is the last page that you sign and return. This list is made available for use by lenderscdcs in evaluating the eligibility of a small business that operates under an agreement. The word franchise is of anglofrench derivationfrom franc, meaning. A franchise is a type of license that a party franchisee acquires to allow them to have access to a business s the franchiser proprietary knowledge, processes, and trademarks in. A system based on the licensing of the right to duplicate a successful business format in foreign markets. A right conferred or established by a government, such as the right to vote exercise ones franchise in a local or national election. Franchise glossary a resource of the educated franchisee. Pdf the assessment of a franchising model by the south africa.

Business format franchises are the most common type of franchise. Pdf franchising is not a popular business development form in lithuania. Franchising is based on a marketing concept which can be adopted by an organization as a. It provides proof of the date that you received the fdd. The operations manuals enables the franchisor to alter and evolve the business. Pdf on dec 1, 20, fanie krynauw and others published the. Glossary of franchise terms the following glossary of franchise terms has been meticulously constructed to be as accurate as possible.