GIA announces the release of a comprehensive global outlook on the franchising industry. The nearly century old global franchising industry sector is quite profitable with low-risk and low cost of investment. The industry is flourishing and brimming with success, and growing at a brisk pace, in tandem with the world economy. With the concept of open market economy fast becoming an accepted trend even in the communist driven countries, the potential for franchising is immense and ripe with promise.
Franchising is one of the most effective means to spread global awareness about the company’s product offerings, thereby filling the gap between a product and its potential consumers. It also offers several business operators and industrialists with expansion and growth opportunities. The development of a franchising setup is directly proportional to the market and population size. Saturation of the conventional franchising business shifted focus of the franchisers to small and niche segments. Favorable macro conditions such as favorable business climate, effective legal and regulatory system, stable judiciary practices and a well organized banking system are expected to underpin progress in the franchising industry. Over the last two decades, the franchising business model has proved to be highly successful in the US, buoyed essentially by the free market economy and overwhelming demand for goods and services. Read more.