Franchise prepared secure bike? (5,2)

'franchise' is the definition.
Although both the answer and definition are verbs in their base form, I can't understand how they can define each other.

'prepared secure bike?' is the wordplay.
I cannot really understand how this works, but
'prepared' could be 'up' (similar in meaning) and 'up' is found within the answer.
'secure' could be 'chain' (chaining is a kind of securing) and 'chain' is present in the answer.
This accounts for all the letters.
This may be the basis of the clue (or it may be nonsense).

Can you help me to learn more?