08 Sep, 2017
Global Franchise
Amongst the top global franchises, the food franchise sector has been one of the best performing industries, and have managed to survive the recessionary period, and have shown signs of continued expansion across the world. Names such as McDonald’s and Subway have become a household name, and are found nearly in every street corner and locality in major cities across the world. Also, there are other several global franchises that have made to the top list which follow a great customer following and have developed an established brand name, such as retailing outlets like 7 Eleven and Wal-Mart.
Amongst all franchising companies, the top franchisors, as mentioned above are fast food companies. The reason is that they are operating the largest number of outlets as franchises, and have expanded aggressively to every nook and corner, and have developed a very reputable brand name. Also, different industries have tried to replicate their financial stability models due to its strength and ability to cope up with different markets and economic environments. Food franchises have been operating in different parts of the world since the past many decades, with McDonald’s being the first amongst the fast food chains to operate franchises, and use this model to expand itself across the world. Apart from fast food chains, retailing and home improvement franchises have also shown great sustainability on a global scale, and are operating hundreds of stores in different major cities. These franchising companies have also been participating in different community and environmental programs, and have also been doing their bid in improving lives of people where they are operating and otherwise.
Global franchises have lucrative opportunities, and the start up costs may be quite high. The reason is that the brands are already quite established, and have a robust customer base, so where ever they go, their success is 99% assured. Most of these franchises have owed their success to franchising their outlets to different parts of the world, and in this manner, have also outsourced their production and manufacturing industries to those countries, enabling them to further cut down costs while maintaining the same standard and quality.
The concept of franchising is not just limited to companies established and incorporated in the United States, but also different companies worldwide have replicated this model and have experienced huge success. Examples are Nando’s from South Africa, Ikea from Sweden, Toyota from Japan and many more.
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