Franchise Words You Need to Know

14 Industry Terms


franchise words you need to know

When exploring and entering the world of franchising, you might begin hearing words you’ve never had to use before. We compiled a list of the most commonly used franchise words you’ll want to know as you navigate this new career path.

Franchise Words You Need to Know

  1. Franchise:  A business opportunity that allows the franchisee to legally use a company’s (franchisor’s) expertise, ideas, and processes
  2. Franchisee: A person or group who enters into a contract with a franchisor to own a business that legally uses the franchisor’s expertise, ideas, and processes
  3. Franchisor: A person or company that grants the license to a third party (a franchisee) for the conducting of a business under the franchisor’s marks
  4. Franchise Agreement: An agreement made between you and the larger company that gives you the right to operate as a satellite of the larger company in a certain territory for a given period of time
  5. Contract: A legally binding document that explains what type of relationship and permissions the franchisee and franchisor will have
  6. Mentor: A trusted advisor who you can go to for advice
  7. Location: The territory your franchise will serve
  8. Entrepreneur: A person who organizes and operates a business and takes on greater than normal financial risks and responsibilities
  9. Marketing: Adverting that is used to gain customers and increase brand recognition
  10. Brand recognition: How well consumers know a company and what they think of it
  11. FAB: Features, advantages, benefits; the selling point for joining a franchise
  12. Market: The group of people or area your business serves
  13. Mission statement: What the goals and values of a company are
  14. JDog Offers Franchising Opportunities for Veterans

We started JDog Brands with the goal of helping reduce Veteran unemployment rate to under 1%. We find Veterans share our same ethos of Respect, Integrity, and Trust. Learn how you can open your franchise location in as little as eight weeks.