product (noun, \ ˈprɑːdʌkt \) franchising (noun, fran-chis-ing, \ ˈfræntʃaɪzɪŋ \)
Definition: in the broadest sense, a product distribution. This implies an agreement between a supplier and a dealer, in which one supplies the product (franchiser), and the other one distributes it (franchisee). It is a common practice for a franchisee to take on the brand name of the supplier. The term is oftentimes called a trade name franchise or simply a traditional franchising. The peculiarity of this method and what makes it different from business franchising is the fact that the product takes the central place other than the franchiser’s trade system. Therefore, the franchisee may implement their own trade methods and frameworks under the name or the trademark of the franchiser.
In a Sentence:
- Product franchising is claimed to be among the most successful methods of launching your own business.
- This company’s operation depends solely on their product franchising and the income they get out of it.
Synonyms and related words: trade name franchise, product distribution, distributive trades.
