Franch is an expiremental condiment developed by the test labs of the Madrigal fast-food division. The name is a portmaneau of its two ingredients which are mixed together in equal measure; french dressing and ranch.
The head test-marketer said he would leave it to the marketing department to come up with a catchier name if it came to it.
Peter Schuler, the only exterior person to taste it, indicated no strong feelings as he glumly ate it in the lab shortly before his death. Franch was part of his last meal; potato nuggets and other experimental sauces. ("Madrigal")
- Vince Gilligan came up with the concept for an older comedy script he wrote where a character achieves great fame through the invention of Franch. Vince Gilligan eventually concluded that the script would never really go any further from there, so he saw fit to cannabalise the idea for Breaking Bad. (source)