noun / verb
franchise
FRAN-chyze/ˈfræntʃaɪz/
An officially granted right to conduct a specified activity.
The owner holds a franchise to operate under the company's brand.
Etymology
The older sense of a granted privilege developed into a commercial right to sell. A franchise is the business operating under such authorization from another company.
In context
got a franchise to sell General Electric television sets
More examples
- The city grants a franchise to provide cable service.
- The bakery plans to franchise its business nationwide.
- Their franchise expires next year unless they renew it.
Forms
franchise · franchises · franchised · franchising
franchisee noun — A person or business granted a franchise.
franchisor noun — A company that grants franchises to others.
Similar words
- license
- Broader permission to do something, without necessarily sharing a brand.
- concession
- Often grants operating rights within a particular place or territory.