The key to the success of franchising is its ability to harness the combined energies and talents of ambitious entrepreneurs under a single banner to gain market strength, become household names and realize their shared goals. Group advertising, buying power and the sharing of ideas are some examples of what can happen. Proof that franchising works is everywhere. Prominent national and international franchise organizations include McDonalds, Century 21, Hilton Hotels and Midas Muffler Shops.
Adaptability and Demand
While today’s consumers prefer to deal with familiar names and national brands, their continually evolving needs and desires help create in-roads for developing new specialized market niches. For example, franchises such as dry-cleaning, lawn care, day care, coffee houses and computer training for children are now considered mainstream.
Franchises offer services and products to meet the desires of their customers. Such adaptability makes it reasonable to conclude that the franchising industry has a very realistic chance of continuing to succeed where less well supported and individually directed businesses "go under."
Across The World
Although franchising is a uniquely American way of doing business, U.S. chains are finding great success in foreign countries. Converging consumer tastes and buying habits make global marketing a reality.