There are many various terms attached with franchising – franchise, franchisee, franchisor, franchising, franchise agreement, franchise fees and so on, we will try to help you understand the various franchise definitions.
In simple terms the definition of franchise is “A franchise is an agreement or license between two parties which gives a person or group of people (the franchisee) the rights to market a product or service using the trademark of another business (the franchisor).”
If you visit our “All about franchising” section, we have an article on “what is a franchise business”. This will give you more information on the obligations of both the franchisee and the franchisor.
Our website is packed with useful information and advice on buying a franchise. If you work your way through the articles it will help you to gain a better understanding of the ins and outs of franchise.
We also have a franchise glossary which will provide franchise definitions for all common franchise terms.