A Review on the Rapid Growth & Popularity of Franchising: Conceptual Study

Rudolph Patrick Muteswa

Abstract


The main objective of this study focused on reviewing the rapid growth and popularity of franchising and how it has become of utmost importance to entrepreneurs across the world today. This study reviewed literature related to the introduction and global trends in franchising, definition of franchising and its history, types of franchising, benefits of franchising to entrepreneurs, characteristics of a good franchisor and a franchisee, recommendations about franchising to entrepreneurs. Nowadays, franchising is now a lucrative type of business ownership and a way to grow the business quickly both nationally and internationally especially for many retail and service businesses. Franchise systems provide franchisees with an opportunity to start their own business using an established powerful brand name, guaranteed market, inexpensive marketing costs thus offering them a good chance to succeed as entrepreneurs.

Aus. & NewZe J. Soci Busi. Env. Sus. Vol 4(2), October 2018, P 91-100


Keywords


Franchising; Rapid; Growth; Importance; Benefits; History

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References


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