Growth Prospects of Franchising Under Current Business Scenario

• Published in: Webology 2022-01, Vol.19 (1), p.4006-4026
• Main Authors: K., Dr. Binith Muthukrishnan, Lourens, Dr. Melanie Elizabeth, V., Dr. Ramesh Kumar, Naved, Dr. Mohd, Devesh, Sonal, Athawale, Shashikant V.
• Format: Article
• Language: English
• Subjects: Agreements; Economic life; Franchisees; Franchising; GDP; Gross Domestic Product
• ISSN: 1735-188X; 1735-188X
• DOI: 10.14704/WEB/V19I1/WEB19264

The article aims to objectively examine the history of Franchising in Europe by focusing on ties between franchisors and franchisees. We also carried out a comprehensive study, interacted with numerous prospective European franchisors and franchisees, and have been in service since 2003. Our results suggest that Europe has a very difficult negotiating franchise agreement. Franchising, which promotes strengthening of mutual links between countries at this point in the history of world economic relations, penetrates virtually every field of economic activities, is thus one of the powerful instruments for the transition to the creative development of the States, thereby ensuring their sustainable development, franchising supports improving trade ties between countries at this point of their growth since, nowadays, this is one of the most efficient and democratic forms of transcending national economies, affecting almost all fields of economic operation. Because of this, it is essential for the research. Comprehensive research of the contradictions in perceptions and real commitments on all sides of the franchising arrangement helps one resolve misunderstandings and remove automated performance ambitions. This article aims to have real consequences for the growth of Franchising in Europe, which will boost the performance and reputation of franchise enterprises by offering a comparative review to a preliminary screening of subjective hypotheses about the advantages of franchising and to suggest incorporating additions and clarity to the partners.