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...
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