Franchising has become very significant in the fast food industry and many other businesses. It is a very common business tactic, which either can be successful or can fail. The franchisor almost always comes out on top if a franchise does not go right, probably because the franchisor makes the rules that must be followed by the franchisee. Franchising is a great way to transform a company into an industry, which if successful, can create a huge profit. The fast food industry was what made franchising a big part of starting and growing a business. McDonald’s franchising endeavors proved to be extremely successful.
McDonalds tested their investors and made sure that they would be committed to the franchise. They also listened to their complaints and ideas. This method was successful and brought in much money. It shows when people work together and compromise in business endeavors, the more successful they could be. It is, sometimes, about working together as a team rather than as enemies.
In business as well, industries and companies will base their next moves off of methods of other companies. Many companies imitated McDonald’s franchising success. However, even if one company was successful in their methods, does not mean that method will work for another company.
When franchising, the looks of the building can also be important and something to consider. For instance, all McDonald’s should probably share somewhat of a cohesive style because that is what customers are used to. The golden arches of McDonalds are a key part of the McDonalds design and are recognized by many people through the United States. I think franchising can be a great way to increase a company’s success, but only if the right people are involved in the deal.
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