Chapter 3. The Wealth-Creating Power of Franchising

Our first two chapters captured and detailed franchising as both an entrepreneurial vehicle and a systematic risk-reduction tool. We clearly established opportunity assessment as the core function of entrepreneurship and then illustrated how franchising must embody this principle. We also defined what a franchise is and how it is best assembled and/or examined using the franchise relationship model (FRM).

Now we discuss several issues that exist in virtually all businesses of scale: administrative efficiency, risk management, and resource constraints. Franchising can overcome such common obstacles. It is an efficient model for significant wealth creation. While making our case that a successful ...

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