Definition:
A franchisor is a person or company that owns a brand and business system and allows others (franchisees) to open and run their own businesses using that brand, for a fee. The franchisor offers training, tools, and support so the franchisee can follow a proven path to success.
Use It in a Sentence:
The franchisor took their learnings from their original business to other geographic markets offering franchisees systems and support to ensure success.
Why Is a Franchisor Important?
A franchisor gives people a way to start a business without building everything from scratch. With a trusted brand like CoolVu, new business owners get instant name recognition, ready-to-use marketing, and real training.
Franchisors also offer ongoing support, which helps franchisees avoid costly mistakes and grow sizeable businesses. Instead of guessing, the franchisee follows a proven business model. That saves time, money, and stress.
For people who want to own a business but don’t want to do it alone, a franchisor like CoolVu makes the process easier and more secure.
Related Dictionary Terms:
- Marketing/Brand Fund Fee: Fee for franchise-wide marketing efforts.
- Franchisee: Someone who buys the rights to run a business from a franchise brand.
- Initial Franchise Fee: A one-time fee paid to start a business under a franchise system.
- Royalty Fee: A recurring fee paid to the franchise brand for ongoing support and use of the brand name.
- Technology Fee: A regular payment for software, tools, and tech support from the franchisor.
