chain (noun, chain, \ tʃeɪn \) style (noun, style, \ staɪl \) business (noun, busi-ness, \ ˈbɪznɪs\ )
Definition: is a business format, which implies a certain business being divided into a chain of its smaller branches (for instance, a clothes store chain). In such a business system, the franchisor remains the only owner of the franchise, opening and operating its separate units. This business format can be sub-divided into a corporate chain business and franchising. In franchising, the franchisor sells the trademark to the franchisee, while each franchisee becomes an owner of a separate franchise unite. In a corporate-owned chain, the franchisor company remains the main and the only owner of all of the business units under its name and trademark. Chain style business can be expanded locally, regionally, nationally, or even internationally.
In a Sentence:
- Owning a chain style business is a great way to expand and develop your company.
- A chain style business allows for a fast growth and can attract more customers in a shorter period of time.
- Becoming a part of a chain style business and buying a franchise means that you don’t have to start your own business from scratch.
Synonyms and related words: business format, franchise, chain store, chain restaurant, franchiser, franchisee, corporate-owned chain, franchising
