2016 kicked off with McDonalds making the headlines again. For once, they were not related to the alleged harm the company causes to our waistlines and the environment. Instead, the multi-billion pound franchise has been accused of abusing its monopoly status in the market to squeeze franchises and exploit consumers in Europe.
In an action to come before the European Union, consumer groups in Italy have alleged that McDonalds have been breaching the rules of European Union by abusing its position as a landlord by levying exorbitant rents from franchisees which are 10 times higher than the market rates.
How the European Union will decide on this matter is anyone’s guess, but one cannot mention McDonalds without acknowledging the roaring success it has made of franchising its business model.
Franchising is a superb way of expanding a business which already has a successful formula. The franchise industry in the UK turned over £15.1 billion in 2015 and employs around 621,000 people.
If you are exploring the idea of expanding your business through franchising, this article is for you. In it, I will detail:
- How to start a franchise;
- Negotiating franchise agreements; and
- Maintaining a franchise.
Useful, I know.
Think of some of the most successful organisations: ‘Subway’, ‘Driver Hire’, ‘Barking Mad’, ‘Greensleeves’. What do they all have in common? That’s right – they are all franchises! And once upon a time, they were all start-ups, fighting to compete […]
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