Franchise Strategies
FRANCHISING: It's a dynamic, entrepreneur-driven business format that has exploded over the last 25 years, and one that current trends show continuing at an equally exciting pace. In fact, according to the International Franchise Association, the business of franchising accounts for well over $1 trillion—40 percent of all annual retail sales in the United States. Coupled with dramatically lower turnover rates compared to all other new businesses, it's easy to understand the appeal.
When compared to more traditional models, franchising can offer exponential growth with less capital investment, significant competitive advantages over non-franchised businesses, and best of all, strategic flexibility for the future. For growth-minded companies, franchising is the business model of choice. Yet to be successful, a franchise system must excel in five key areas.
