FRANCHISING AS A MODE OF BUSINESS EXPANSION
In an ever-changing and increasingly challenging global marketplace, franchising has shown great pliability and sustained continued advance despite the economic and political encounters presented over the past decades. If you run an efficacious company that proposes valuable products or services to consumers, you might want to open other locations to scope a grander audience. Not only will you gross a higher profit, but you'll also help countless novel customers while you shape your brand from a distance. Instead of owning and operating entire locations yourself, you can propose your business model as a franchise prospect and allow other painstaking entrepreneurs to run each institution under your brand name. Franchising has historically established to be a rather competent way of expanding the market saturation and consumer foundation of retail brands, both locally and transnationally. This is so because it permits the brand owner, the franchisor, to enlarge its business faster and with fewer financial and human-resource investments, while at the same time safeguarding the maintenance of the quality and operational canons of the brand, specifically when compared to other structures such as trademark licensing, agency and setting up a local lawful entity or joint venture with a local companion.
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