Being a franchisor seems to be a mechanism for growth, but what are the growth prospects...

Being a franchisor seems to be a mechanism for growth, but what are the growth prospects for entrepreneurs that are franchisees? Isn’t the entrepreneur limited in his or her ability to pursue all the different types of growth strategies? Is being a franchisee simply substituting one type of employment for another type of employment? How can a franchisee grow his or her business (es)?

Expert Solution

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Entrpreneurs who work as franchisees have fairly good growth prospects. They represent a company and foster a strong company culture, they endorse the brand of the company to reach out to business partners contacts which eventually pays off the company. Franchisees typically increase the market visibility of a company especially over the Internet. This is is not true, a franchisee has got full autonomy to execute their own strategy to function as it is itself a business entity. The only condition is it needs to focus on its parent company's products and services only. Franchisee is just a normal employment like otherwise, though it may have parent company's staff coming for promotional activities or inspection. A franchisee needs to have an strategic marketing plan, understand their competitors, network with fellow franchisees and exchange ideas, increase social media presence will definitely give them an advantage and sustainable growth.

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ekkarill92 answered 5 months ago

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