Franchisor

Definition

A franchisor is a business entity that grants the legal right to an individual or group (the franchisee) to operate a business using the franchisor's brand, model, and system for a specified period. The franchisor usually provides the franchisee with ongoing support, including training, marketing strategies, and product development.

Related terms

Franchisee:

An individual or company that holds a franchise for the sale of goods or the operation of a service under the franchisor's brand and guidelines.

Franchise agreement: A legal contract between a franchisor and franchisee which outlines the terms and conditions for operating a franchise.

Brand standard: The specific guidelines provided by the franchisor that ensure uniformity in how each franchise operates, maintaining consistency across all locations