Who will imagine that the business that will propel the world economy to greater heights in 2022 and probably beyond that will be the franchising business? The overwhelming success of the franchise business became legendary since McDonald started doing it in 1953. There are lots of businesses who became very successful when they took the franchising route. Imagine this, in the Philippines alone there are more than 500 franchise brands from products ranging from French fries, milk tea, coffee, pizza, hamburgers and many others. And almost everyday, a new franchise brand is launched all over the world. That's how resilient franchise business is. During the time of the pandemic, majority of the franchise businesses were affected, however, they were able to adapt and pivot and now they are roaring to go back to the pre-pandemic level. Its a common knowledge that the products and services being offered by the franchisors are not really new. What they did was to transform these products and services into new packaging and re-branding them to make them more appealing to the intended customers.
The nature of the franchise business is not that complicated. It adheres to the same set of principles commonly employed by all businessmen. It may have some variations but still the business fundamentals are similar. When starting a franchise business, it is imperative that the important aspects of franchising will be attended to in order to attain business success.
This book will give you the basics that will help you if you are planning to go into franchising, either as franchisor or franchisee.
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