Real Dictionary

franchise
A franchise is an authority that is given by an organization to someone, allowing them to sell its goods or services or to take part in an activity which the organization controls.
verb: If a company franchises its business, it sells franchises to other companies, allowing them to sell its goods or services.

franchise in American English
designating a player on a professional team who is regarded as being essential to that team's success
freedom from some restriction, servitude, etc.
to grant a franchise to
noun: a privilege of a public nature conferred on an individual, group, or company by a government
transitive verb: to grant (an individual, company, etc.) a franchise

franchise in British English
noun
verb: to grant (a person, firm, etc) a franchise

franchise in Insurance
noun: In marine insurance, a franchise is a sum or percentage stated in a policy, below which the insurer does not have liability.

franchise in Retail
noun: A franchise is a type of retail business in which an individual or group is granted the right to market a company's goods or services within a certain territory or location.