There are many trends in franchising nowadays. Consider these 3 ones:
1. Women and minorities are discovering that franchising works. Franchising helps break through the walls that prevent many women and minorities from becoming a business owner. Financing is becoming easier to receive, training and business structure are already arranged, and special help (in terms of funding etc) is available for minorities and women.
2. International franchising is going through a growth spurt. Franchisors recognize the rise of the ‘international’ market. The world is getting ’smaller’ and the need for products and services is getting larger. People throughout the world recognize American products. Thus, the trend towards going global with franchises is proving to strengthen the franchising industry and its many companies.
3. Technology is changing the face of franchising and making already efficient business systems, almost flawless. From finding prospective franchisees to advertising and using extranets to communicate with franchisees, the world and the franchising industry is a very different and much more efficient place now that we have the internet and related technology.
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