ESL Podcast 356 - Starting a Franchise Business

franchise - a business that has permission from a larger company to sell goods and services using the brand, advertising, and operations of that larger company

Do you think you want to join me in starting a franchise of that successful sandwich restaurant chain?

franchise fee - an amount of money paid to a larger company for the right to open a franchise business

How much is the franchise fee to open a McDonald's restaurant?

recurring - repeating; happening many times; happening repeatedly, often on a regular schedule

Wayne has a recurring nightmare in which he sleeps too late and misses his school exams.

royalty - an amount of money paid to a company or person for being able to use something that it, he, or she has produced, usually based on the amount of sales

The Beatles receive a royalty every time that one of their songs is used in a television commercial.

quality control - something that is done to make sure that everything a company or person produces is very good or excellent and that bad products or services are not sold

The toy company's quality controls include testing every toy before it is packaged for sale.

to be subject to (something) - to have something apply to oneself; to have to do something; to be forced to do something

If you earn money in the United States, then you are subject to U.S. taxes.

proven formula - a system that has been shown to work well; a way of doing something that always works

Eating more fruits and vegetables and getting more exercise is a proven formula for losing weight.

turnkey - ready to be used immediately, without making modifications

Rafe bought a turnkey software program for accounting. He only had to enter the name of his business and then everything worked automatically.

spot check - a random, unannounced visit to verify the quality of something or to find out how well something is being done

The high school teachers decided to do a spot check of students' lockers, looking for drugs and alcohol.

from time to time - occasionally; every once in a while; sometimes

From time to time, after an especially difficult week at work, she sleeps in on Saturdays until 11:00 a.m.

to audit the books - to review a company's accounting records, looking for errors

When they audited the books, they realized that their accountant had been stealing money from the company.

standard - the quality or speed at which something should be done; the minimum acceptable quality or speed of something

Gray has very high academic standards for himself and expects to get into one of the best colleges in the country.

franchise rights - the permission that a larger company gives to a franchise to operate with its name and products or services

Kevin lost his franchise rights when he refused to use the company's marketing materials.

in (one's) own best interest - benefiting someone; to one's advantage; advantageous for someone

My doctor told me that losing weight was in my own best interest, since it means that I'll have a healthier, longer life.

troubleshooting - assistance with specific problems; advice on specific problems

When her computer stopped working, she called the manufacturer's troubleshooting service.