Reducing Business Failure Through Micro Franchising

Bizcommunity.com:
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Micro franchising could be an effective way to reduce the high failure rate among micro enterprises, because franchise businesses are subject to specific operational processes that make them sustainable.

The three key aspects of a business that can be franchised are:

* it can be easily branded
* it’s replicable
* it can be systematised

Being easily branded takes a great deal of the sweat out of finding a market, which is a problem for any business but especially so for a micro enterprise, where resources are more than usually limited.

Being replicable, means that the franchisee benefits from the success of the original business without having to worry about product development and marketing from scratch, which reduces the risk of the business failing. Full article.