Franchise agreement: Difference between revisions
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'''Franchise agreement'''. An arrangement whereby someone with a good idea for a [[business]] [[sell]]s the [[right]]s to use the businesses name and sell a [[product]] or [[service]] to others in a given [[territory]]. Usually arranged by [[contract]]. |
'''Franchise agreement'''. An arrangement whereby someone with a good idea for a [[business]] [[sell]]s the [[right]]s to use the businesses name and sell a [[product]] or [[service]] to others in a given [[territory]]. Usually arranged by [[contract]]. |
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A franchise agreement will usually specify the given territory the franchisee can use as well as the extent to which the franchisee will be supported by the central company. Support usually coming through [[marketing]] campaigns. |
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Revision as of 19:01, 1 June 2004
Franchise agreement. An arrangement whereby someone with a good idea for a business sells the rights to use the businesses name and sell a product or service to others in a given territory. Usually arranged by contract.
A franchise agreement will usually specify the given territory the franchisee can use as well as the extent to which the franchisee will be supported by the central company. Support usually coming through marketing campaigns.
See also: franchise