In business, a one-of-a-kind idea is sometimes too good not to replicate, hence the success of franchising. Amanda Morrall does a double take on one of the fastest-growing business models in New Zealand. When it comes to franchising, nobody does it quite like McDonald’s.
The fast-food behemoth set an industry standard by taking a basic recipe and replicating it time and time again with unparalleled success. Its famed Golden Arches - found in 110 countries - are said to have greater recognition worldwide than the Christian cross.
Love or hate the Big Mac, it has the type of branding aspiring franchisors can only dream of.
But in the business of branding - as with franchising - the road is not always paved in gold.
For the 200 investors who got burnt buying into the fraudulent Green Acres franchise, the experience was more a road to hell.
Mostly immigrants, the would-be franchisees lost upwards of $20,000 a piece thinking they had bought into an innocuous home-ironing business. The case - still before the courts - was a wake-up call for the industry and franchisees.
Cutting The Risks Of Franchising Firms
February 27, 2008 by Cris | 0 Comments
In Franchises, How To, Strategy
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