Luscomb said the company began re-franchising several years ago and has reduced the number of company-owned stores from 80% to 66%.

FORBES: Magazine Article

Fewer train operating companies, but also in the re-franchising process perhaps some sort of over-arching contract that all train operating companies subscribe to, to give passengers back the network benefits that were lost in the privatisation process.

BBC: George Muir and Stuart Francis

And part of that, you're right, will be this whole question of franchising.

BBC: News Online