1. Why franchise?
Businesses franchise for different reasons, not all of which are apparent in advance, and which may change in their relative importance over time as the business develops.1.1 To accelerate growth and increase market share
Franchising can provide a business with opportunities to open in markets not previously accessible. As a method of growth, franchising has the potential to facilitate rapid expansion into new markets that would otherwise be difficult or impossible to access under the constraints of a corporate model.Not only does this provide growth, but it also enhances first mover advantage – that unique window of opportunity to secure a following for a brand and its services and products before the inevitable arrival of “me-too” competitors. Continue reading.