franchise
noun

a licence to trade using a brand name and paying a royalty for it

Example

He's bought a printing franchise or a pizza franchise.

verb

to sell licences for people to trade using a brand name and paying a royalty

Example

His sandwich bar was so successful that he decided to franchise it.

"...many new types of franchised businesses will join the ranks of the giant chains of fast-food restaurants, hotels and motels and rental car agencies" [Franchising Opportunities]

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