Franchise

Business, Legal & Accounting Glossary

Definition: Franchise




What is the dictionary definition of Franchise?

Dictionary Definition


  1. n. a right granted by the government to a person or corporation, such as a taxi permit, bus route, an airline’s use of a public airport, business license or corporate existence.
  2. n. the right to vote in a public election.
  3. v. to grant (for a periodic fee or share of profits) the right to operate a business or sell goods or services under a brand or chain name. Well-known franchise operations include McDonald’s, Holiday Inns, Ace Hardware, Rexall Drug Stores, and Amway Distributors.
  4. n. the right one has to operate a store or sell goods or services under a franchise agreement, as in “we have the Taco Bell franchise in our town.”
  5. adj. referring to a “franchise tax” which is placed on businesses (especially corporations) for the right to conduct business, as distinguished from a tax on property, income or profits tax.

Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/franchise/
Modern Language Association (MLA):
Franchise. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 25, 2021 https://payrollheaven.com/define/franchise/.
Chicago Manual of Style (CMS):
Franchise. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/franchise/ (accessed: September 25, 2021).
American Psychological Association (APA):
Franchise. PayrollHeaven.com. Retrieved September 25, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/franchise/

Definition Sources


Definitions for Franchise are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 28th April, 2020 | 1 Views.