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English definition of “franchise”

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franchise

noun [C or U]
 
 
/ˈfræntʃaɪz/ COMMERCE
an arrangement in which a company sells another business the right to sell its products or services in return for payment: The bank is trying a scheme to let local managers work under franchise. Do buy a franchise with a strong brand.hold/own/have a franchise I don't believe they are a fit company to hold a franchise.win/lose a franchise The company won the franchise to sell and service the luxury car in the west of Scotland area.award/give/grant a franchise The company announced that it was not yet ready to award the franchise to either party. a franchise agreement/holder/fee a franchise company/business/operation
a business that has bought the right to sell the products and services of another company: She returned to London where she now owns a Body Shop franchise.a rail/fast food/television franchise The most significant piece of news for the company was being declared preferred bidder for the rail franchise.
(Definition of franchise noun from the Cambridge Business English Dictionary © Cambridge University Press)
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