franchisee |
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Definition
One who purchases a franchise. The franchisee then runs that location of the purchased business. He or she is responsible for certain decisions, but many other decisions (such as the look, name, and products) are already determined by the franchisor and must be kept the same by the franchisee. The franchisee will pay the franchisor under the terms of the agreement, usually either a flat fee or a percentage of the revenues or profits, from the sales transacted at that location.
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franchisee is in the Corporate, Commercial, & General Law and Entrepreneurship, Management, & Leadership subjects.
franchisee appears in the definitions of the following terms:
franchising,
master franchise,
territory,
protected territory,
business format franchising,
product franchising,
sales territory,
chain-style business,
uniform franchise offering circular (UFOC)
and
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