franchise — a privilege of a public nature conferred on an individual, group, or company by a government: a franchise to operate a bus system.
Three-syllable rhymes
enfranchised — Simple past tense and past participle of enfranchise.
franchiser — Also, franchisor [fran-chahy-zer, fran-chuh-zawr] /ˈfræn tʃaɪ zər, ˌfræn tʃəˈzɔr/ (Show IPA). a person or company that grants a franchise.