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Franchise Mart-The Source of Indian Entrepreneur

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  • Upasna Joshi

Abstract

Most of us encounter dozens of franchised businesses each day, ranging from familiar fast-food restaurants to franchised educational systems such as Learn Right. Franchise means the special right given by the producer of a product (brand) to another firm to sell his product in a particular area. Franchising operation is a contractual relationship between a franchisor (the company offering the franchise) and the franchisee (the company undertaking to promote the sale of franchisor’s products). Individual franchises are a tightly knit group of enterprises whose systematic operations are planned, directed and controlled by the operation’s innovator, called the ‘franchisor’. Franchising continues to be a highly regulated industry that endeavors to promote the healthy growth of the economy. As an entrepreneur is a catalyst in the process of economic development, there is a need to develop the concept of entrepreneurship. Franchise Mart is a source to develop the Indian entrepreneurs. The present paper aims to discuss the concept of franchising, reasons for franchising and different opportunities provided by franchising for development of Indian entrepreneurs. The top established and emerging franchises both national and international are also discussed in our present paper. Finally, some suggestions are given for success in franchising.

Suggested Citation

  • Upasna Joshi, 2011. "Franchise Mart-The Source of Indian Entrepreneur," Journal of Education and Vocational Research, AMH International, vol. 2(1), pages 4-9.
    • Handle: RePEc:rnd:arjevr:v:2:y:2011:i:1:p:4-9
    DOI: 10.22610/jevr.v2i1.18
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    References listed on IDEAS

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    1. Ackerman, Karen & MacDonald, Stephen & Milmoe, Steve, 1990. "International Trade," Food Review/ National Food Review, United States Department of Agriculture, Economic Research Service, vol. 13(3), September.
    2. Dnes, Antony W, 1993. "Franchising Passenger Rail," Scottish Journal of Political Economy, Scottish Economic Society, vol. 40(4), pages 420-433, November.
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