franchise

(redirected from Franchise player)
Also found in: Dictionary, Thesaurus, Legal, Encyclopedia, Wikipedia.

Franchise

An agreement in which an entrepreneur buys a license to use another business' products, brand, proprietary knowledge, and trade secrets. This allows the entrepreneur to start a business without building up his/her own brand or products. This is a common way to start a business, especially in highly competitive industries. An industry that utilizes franchises on a regular basis is fast food; because of stiff competition, it is generally more profitable for one who wishes to start a fast food restaurant to buy a franchise.

franchise

1. An agreement between a firm and another party in which the firm provides the other party with the right to use the firm's name and to sell or rent its products. Selling franchise rights is a method of expanding a business quickly with a minimum of capital. See also franchisee, franchisor.
2. A right granted to another party by a government to engage in certain types of business. For example, a firm may obtain a government franchise to supply certain public services within a limited geographic region.

franchise

the granting by one company to another company (exclusive franchise) or a number of companies (non-exclusive franchise) of the right/s to supply its products. A franchise is a contractual arrangement which is entered into for a specified period of time, with the franchisee paying a royalty to the franchisor for the rights assigned. Examples of franchises include the McDonald Burger and Kentucky Fried Chicken diner chains, Tie Rack and Dyno-Rod.

Franchises are a form of co-partnership, offering mutual benefits. They allow the franchisor to expand sales rapidly and widely, sometimes on a global basis, without having to raise large amounts of capital, by building on the efforts of a highly motivated team of entrepreneurs. Individual franchisees are usually required to contribute the bulk of the investment in physical assets and hence have a personal interest in the success of the venture. For his part, the franchisee obtains access to an innovative product or novel selling method, with the franchisor providing back-up, technical assistance, specialized equipment and advertising and promotion. See VERTICAL MARKETING SYSTEM, BUSINESS STRATEGY, EXTERNAL GROWTH, BUSINESS FORMAT FRANCHISING.

franchise

the assignment by one FIRM to another firm (exclusive franchise) or others (nonexclusive franchise) of the right(s) to supply its product. A franchise is a contractual arrangement (see CONTRACT) that is entered into for a specified period of time, with the franchisee paying a ROYALTY to the franchisor for the rights assigned. Examples of franchises include the Kentucky Fried Chicken and MacDonald's burger diner and ‘take-away’ chains. Individual franchisees are usually required to put up a large capital stake, with the franchisor providing back-up technical assistance, specialized equipment and advertising and promotion. Franchises allow the franchisor to develop business without having to raise large amounts of capital.

franchise

(1) A contractual relationship whereby one party (franchisee) is entitled to use the trade name, image, procedures, and trade secrets of another (franchisor) usually in return for paying an initial purchase price and a percentage of gross revenues over the period of the arrangement. In most instances,there is a separate fee for the franchisee's share of national and regional advertising campaigns. Real estate franchises include Century 21, RE/MAX, and ERA. (2) A government grant of some privilege, such as the ability to operate as a corporation or the ability to sell drinks and sandwiches in the county courthouse.

References in periodicals archive ?
The question is, can Taulava's long experience and his glowing reputation as a franchise player work wonders for his All-Star team?
DENVER BRONCOS -- Designated WR Demaryius Thomas as the franchise player.
Thinking about this franchise player, I started masterminding the different ways the team owner could keep the player's job fun, challenging and enjoyable.
A franchise player is a special category for restricted and unrestricted free agents.
Offensive lineman Stacy Andrews has been designated the Cincinnati Bengals' franchise player.
Often such fan-psychologies are prompted by a championship season (witness the flurry of tomes following the Red Sox World Series run) or by the heroics of a single long-run franchise player.
There's no reason at all why Matthew can't be a franchise player of the future and be here in five or ten years.
As someone who has worked hard for a number of years to establish Newcastle as one of the premier clubs within the British game, you could hardly blame him for wanting his stand-out franchise player to remain on Tyneside.
COACHES WHO ARE FORTU-nate enough to have a franchise player would do well to prepare something special for all the box-and-one defenses they are going to see throughout the season.
Comparatively, the administrator of a nursing home may very well be perceived as that team's franchise player.
But despite all of that, with the Beermen not over-depending on their 6-foot-10 franchise player, San Miguel posted its most authoritative win over the hard-fighting Aces at the Araneta Coliseum in Cubao and reduced this title showdown into a best-of-three.
The same amount was paid for the Uva Unicorns franchise by Success Sports Pvt Ltd, even though the team has no designated franchise player.