franchise
A business that uses another company’s name and system.
The word franchise has several related meanings:
- A special right or privilege granted by a government or company. In American history, the franchise originally meant the right to vote. When people fought to extend the franchise, they were fighting so more citizens could participate in elections. Women won the franchise in 1920 with the 19th Amendment, meaning they finally gained the legal right to vote.
- A business arrangement where a company lets other people open stores using its name and methods. When you see McDonald's restaurants in different cities, each one is usually owned by a different person who bought a franchise. The franchise owner pays fees to use the McDonald's name, recipes, and system, but runs their own location. Many successful restaurants, hotels, and stores operate as franchises.
- A series of related movies, books, or products. The Star Wars franchise includes many films, shows, and merchandise all connected to the same story universe. Sports video game franchises like Madden or FIFA release new versions each year. When creators build a successful franchise, they've created something people want to experience again and again in different forms.
The connecting idea is permission to use something valuable, whether that's voting rights, a business brand, or a creative property.