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1. (Government, Politics & Diplomacy) the franchise the right to vote, esp for representatives in a legislative body; suffrage. 2. (Government, Politics & Diplomacy) any exemption, privilege, or right granted to an individual or group by a public authority, such as the right to use public property for a business. 3. (Commerce) commerce authorization granted by a manufacturing enterprise to a distributor to market the manufacturer's products.
When considering life as an entrepreneur, it is important to understand the definitions of a franchise, business opportunity and a start-up business. There are, of course, advantages and disadvantages to each style of business.In this article we will discuss the advantages and disadvantages of owning a franchise. FRANCHISE: A franchise is a right granted to an individual or group to market a company's goods or services within a certain territory or location.he franchisor (the company owner) sells the rights to the franchisee and then typically receives a fee for ongoing support, therefore having a vested interest in the success of each franchise. Franchising began back in the 1850's when Isaac Singer invented the sewing machine.