Franchising refers to

a contractual agreement between multiple retailers sharing the same business mission to operate with a consistent business model to not only achieve enhanced buying power but also increase customer loyalty.

a contractual arrangement between a parent company and an individual or firm that allows the latter to operate a certain type of business under an established name and according to specific rules.

purchasing the name, branding, and raw materials from one organization and transferring it to another.

a practice whereby one firm's marketing channel is used to sell another firm's product.

selling an idea to a larger company and letting it do all the manufacturing, distribution, and marketing.