The establishment, granting, or use of a franchise.
Franchising is the practice of using another firm's successful business model. The word 'franchise' is of Anglo-French derivation - from franc - meaning free, and is used both as a noun and as a verb. For the franchisor, the franchise is an alternative to building 'chain stores' to distribute goods that avoids the investments and liability of a chain. The franchisor's success depends on the success of the franchisees. The franchisee is said to have a greater incentive than a direct employee because he or she has a direct stake in the business. Essentially, and in terms of distribution, the franchisor is a supplier who allows an operator, or a franchisee, to use the supplier's trademark and distribute the supplier's goods. In return, the operator pays the supplier a fee. Thirty three countries, including the United States, and Australia, have laws that explicitly regulate franchising, with the majority of all other countries having laws which have a direct or indirect impact on franchising.
The numerical value of franchising in Chaldean Numerology is: 1
The numerical value of franchising in Pythagorean Numerology is: 9
Sample Sentences & Example Usage
I’d never really thought about franchising, i met a franchise broker at the expo. We started going through concepts, and I found Bar-B-Clean. I decided that’s the one I’m going with.
I spent what I needed to spend to build the best system, but I ’m also stubborn. I made the mistake in the first few years of trying to ‘ fix ’ franchising. I always looked around and did not want to do things like other franchises. But I was wrong.
When you think about the traditional massage industry, getting this service was very inconvenient. It wasn’t in retail shopping centers, it was often in people’s homes … or it was available at a day spa and would be very expensive. Franchising made massage affordable, and we offer a better experience for our customers at 50 percent of what they were paying before.
I think a lot of people come into franchising and buy a single unit because they want a job, if they get one unit and x amount of income, they’re happy. But enterprise-building franchisees must have the skills to manage multiple units at once and also run a back office. You’re dealing with lots of moving parts, and it’s not for someone just getting into franchising to pay the bills. It requires a radically different mindset than single-unit franchisees’.
Images & Illustrations of franchising
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