Franchise
Definition 1 of 5
Pro Tip 1/2
Exclusive Territory
A franchise often provides exclusive rights to operate in a specific area, preventing others from selling the same brand there. Her coffee shop franchise gives her exclusive rights in the downtown area.
Pro Tip 2/2
Initial Investment
Buying a franchise usually requires an initial fee plus ongoing royalties to the franchisor. He paid a large initial fee for his restaurant franchise.