In business, the right given by one company to another to manufacture, distribute, or provide its branded products. It is usual for the franchisor to impose minimum quality conditions on its franchisees to make sure that customers receive a fair deal from the franchisee and ensure that the brand image is maintained.
The franchisor is also often responsible for advertising and product development. It may insist on franchisees buying raw materials from it alone. The franchisee has to pay a levy, usually a percentage of either profit or turnover, to the franchisor.
Examples of franchise operations in the US include fast-food restaurants, auto-repair shops, and specialty stores, where the owner/managers have purchased the right to operate a brand-name business using materials supplied by the manufacturer for a percentage of the profits.
ETYM French, from franc, fem. franche, free. Related to Frank.
In politics, the eligibility, right, or privilege to vote at public elections, especially for the members of a legislative body, or parliament. In the UK adult citizens are eligible to vote from the age of 18, with the exclusion of peers, the insane, and criminals.
In the UK it was 1918 before all men had the right to vote, and 1928 before women were enfranchised; in New Zealand women were granted the right as early as 1893.1. A business established or operated under an authorization to sell or distribute a company's goods or services in a particular area; SYN. dealership.
2. A statutory right or privilege granted to a person or group by a government (especially the right to vote).
3. An authorization to sell a company's goods or services in a particular place.
.1 Ugovor kojim jedna država ustupa nekom licu ili drugoj državi pravo na obavljanje nekog privrednosg posla
2. Dopuštanje, ustupak, povlastica, davanje povlastice; odobrenje vlasti (državne, opštinske) za bavljenje nekim poslom koji je slobodan od nadzora te vlasti. (lat.)
Reč dana | 21.01.2021.
Više od 500.000 poseta u toku meseca. Pridruži nam se i ti.