WHAT IS FRANCHISING?
Business
format franchising
is the granting of rights to operate a business using the identity, system and methods
developed by the franchiser.
A
dynamic marketing technique, franchising has an array of tools that non-franchised
competitors rarely have. Based on the use of collective resources and maximizing
potentials through networking, it is being used by business operations representing more
than 60 different industries.
Success
from franchising lies in its built-in strategy of a WIN/WIN situation where all involved
benefits. The franchisee gains from instant expertise with continual support from the
franchiser, the consumer benefits from competent stores or services while the franchiser
prosper from an efficient network.
Because,
franchising has the ability to accelerate opportunities, it has created leaders in
industries. The most familiar is of course, McDonalds -- the largest fast food operator
with more than 20,000 restaurants. It has created household names and industry leaders
like Holiday Inn - the first hotel chain to franchise, Seven-Eleven the largest
convenience store network, the world's largest real estate organization - Century 21,
JaniKing, Dunkin Donuts, Uniglobe Travel and the list goes on...