Academic literature on the topic 'Franchises (Retail trade)'
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Journal articles on the topic "Franchises (Retail trade)"
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Vasiuta, Viktoriia, Vlada Yukhno, and Alina Yakovlieva. "Franchising as a form of entrepreneurial activity in Ukraine: realities and prospects." Galician economic journal 88, no. 3 (2024): 159–66. http://dx.doi.org/10.33108/galicianvisnyk_tntu2024.03.159.
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The article is devoted to the study and analysis of franchising as an effective tool for entrepreneurial activity. The state and prospects for the development of the franchising business model in the Ukrainian economy have been studied. Before the full-scale invasion of russia into the territory of Ukraine, the franchising market was developing dynamically in almost all sectors of the economy, despite the coronavirus crisis. In recent years, franchising has become the most popular in Ukraine in the field of consumer services, public catering and retail trade. The franchising market provides a great advantage for the development of the national economy. The current state of franchising in Ukraine, its positive aspects and opportunities for future growth are revealed. It can be the beginning of the development of small and joint ventures that will focus on innovation. Like any form of cooperation, franchising has its advantages and disadvantages that need to be taken into account. Now the development of the Ukrainian economy is a sensitive issue due to the war started by russia. Without activity in the economic sphere, the full functioning of the state is impossible. As a result of the military conflict, Ukrainian enterprises began to expand in Europe, which created the basis for the formation of a market for Ukrainian franchises. In safer regions of Ukraine, relocated businesses received a significant increase in income. With the stabilization of the situation in the country, entrepreneurs will have the opportunity to open their own businesses. In general, the Ukrainian franchising business offers ample opportunities for further growth and development. Entrepreneurs who understand the benefits of franchising and know how to effectively use its potential can achieve success in both domestic and international markets. However, it is important to carefully select franchisees, conduct a detailed analysis of the terms of the deal before launching the business. Despite the existing difficulties in implementing a franchising project, the number of “quality” franchises and conscientious franchisors in Ukraine is increasing every year. New initiatives are emerging that are successfully developing not only in Ukraine, but also abroad. This indicates that in the near future, the franchising market in our country will move to a new stage of development.
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Nur Rizky Aulia Rahmah, Muhammad Amin, Ramadhani Alfin Habibi, Erry Fitrya Primadhany, Baihaki, Novita Mayasari Angelia, and Muhammad Norhadi. "Perlindungan Pembeli Terhadap Kesalahan Harga Dalam Bisnis Ritel Modern." Mabsya: Jurnal Manajemen Bisnis Syariah 4, no. 2 (November 10, 2022): 132–42. http://dx.doi.org/10.24090/mabsya.v4i2.6940.
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The modern retail business is currently growing rapidly along with the times. Economic progress has also contributed to the development of the modern market and retail business in Indonesia. The modern retail business has now expanded to various cities in Indonesia. Even modern shops with minimarket franchises have spread to a number of cities and districts. Modern retail business in the form of hypermart, Indomaret, Alfamart, department store and wholesaler. While shopping centers can be in the form of malls and trade centers. The focus of this research is how are modern retail business practices and how is consumer protection in modern retail businesses?. The data in this study were collected using the methods of observation, interviews and documentation. This type of research is an empirical juridical research using a socio legal approach. The results in this study are first, modern retail business which is a development of traditional retail. In practice, the business applies modern concepts by utilizing technology and accommodates lifestyle developments at the community and consumer level. However, there are still frequent price mistakes made by business actors to consumers. This starts from the unsynchronized price listed on the displayed product with the price stored in the computerized system (product data input on the computer application) at the cashier. Second, business actors need to make efforts to synchronize prices so that price errors do not occur, as well as pay attention to the total purchases that are calculated automatically by the computerized system (product data input on computer applications) and the money that consumers give. Buyers as consumers get protection under the Consumer Protection Act and khiyar aibi in Islamic law. Increasing the accuracy and accuracy of modern retail business actors must always be done, and consumers are required to be smarter in this contemporary muamalah era, by understanding a good transaction method to avoid unwanted things.
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Alon, Ilan, and Michael Alexander Kruesi. "The enigma of franchising in China." Journal of Business Strategy 41, no. 5 (November 4, 2019): 15–25. http://dx.doi.org/10.1108/jbs-06-2019-0108.
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Purpose Although China is among the most populated and fastest growing markets in the world, the reason why China’s franchising scale and scope is so limited remains an enigma. The purpose of this paper is to shed light on franchising in China and offer strategies for practitioners to more effectively operate under a franchise model in the Chinese market. Design/methodology/approach This paper reviews both literature and practical sources providing some primary data from interviews conducted with franchise industry practitioners in China. Findings The findings of this paper are that foreign entrants to China must carefully consider if they should enter the Chinese market through franchising or if the market may be too difficult to navigate. Franchisors, whose brand is unknown in China or have operations that are too Western-centric, should probably seek international markets closer to home. Those with a high value proposition in the local market and the capabilities to adapt effectively to China’s peculiarities may, however, find a promising and profitable niche to operate in. Originality/value This paper focuses on the under examined realities of franchising in the Chinese market. Based on the previous experiences of franchisors in China, the paper raises seven practical strategies that practitioners can use to more successfully enter the Chinese market through franchising. Although China is among the most populated and fastest growing markets in the world, the reason why China’s franchising scale and scope is so limited remains an enigma. According to the International Franchise Association and International Trade Administration reports, China is among the top-ranking countries in terms of trade opportunities, with the top 100 franchisor sales estimated at ¥428bn (about US$66bn). China is the largest franchise market in the world, with over 4,500 franchise systems and some 400,000 franchised outlets in over 70 industries. However, considering China’s US$13.6tn (2018) economy, this is still far lower than its full potential. In addition, the scope of franchising is limited and is mostly centered in food and beverage and retail outlets, which consists of approximately 40 per cent of all franchisors.
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Sveum, Matthew, and Michael Sykuta. "The Effect of Franchising on Establishment Performance in the U.S. Restaurant Industry." Cornell Hospitality Quarterly 60, no. 2 (June 4, 2018): 104–15. http://dx.doi.org/10.1177/1938965518777970.
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A central theme in much of the franchising literature is that franchising mitigates the Principle–agent problems between the owner of the franchise company and the operator of the local establishment by making the operator the owner-franchisee of the establishment. Despite the centrality of that assumption in the literature, there is little empirical evidence to support it. We use Census of Retail Trade data for essentially all full- and limited-service restaurants in the United States to test whether franchisee-ownership affects performance at the establishment level. We find a strong and robust franchise effect for full-service restaurants but little effect among limited-service restaurants. We argue this difference is consistent with agency costs given differences in work processes and the importance of managerial discretion.
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Kozłowski, Wojciech, and Jacek Michalak. "RETAIL TRADE IN POLAND. PART 1: THE CONSOLIDATION, AS THE LEADING ASPECT OF THE EVOLUTION OF THE TRADE." sj-economics scientific journal 21, no. 2 (June 30, 2016): 244–65. http://dx.doi.org/10.58246/sjeconomics.v21i2.355.
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Identify the key factors influencing the state and condition of the retail trade in Poland and the changes that have occurred in the market structure in the last several years, were the aim of the paper. An analysis of the potential of the Polish retail trade show that its distinctive feature was the growing sales while at the same time decreasing its dynamics in recent years. The current situation of the retail trade is resulting largely initiated in years 90 of last century of privatization and restructuring processes, the consequences of which revealed in the area of trade activities, as well as in market structure. Consolidation can be considered as the most important phenomenon of the transformation of retail trade in Poland. A visible manifestation of consolidation was the increasing market concentration (the dominance of large stores in the sales value) and the increasing importance of traditional shops associated with the changing model of consumer behavior and joining stores to the retailers franchise network.
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Fauzi, Inna. "The Nisbah of Indomaret Musyarakah Franchise in Indonesia: MUI Approach." Az-Zarqa': Jurnal Hukum Bisnis Islam 14, no. 2 (November 15, 2022): 261. http://dx.doi.org/10.14421/azzarqa.v14i2.2733.
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Abstract: The retail industry is an Indonesian business that provides basic needs and daily needs. This industry is engaged in a promising trading business. Conducting joint ventures with the public and business entities who wish to open a business in the field of trade (business retail) with a franchise system. On the other hand, the concept of cooperation promoted by the DSN MUI fatwa No. 08/DSN-MUI/IV/2000 must also continue to be applied for the realization of the Musyarakah concept. The purpose of this study was to find out how the calculation of the musharaka ratio of retail products at Indomaret in Kudus and how to analyze the fatwa of DSN MUI No 08/DSN-MUI/IV/2000 on the implementation system of calculating the musharaka ratio of retail products at Indomaret in Kudus. This study uses a qualitative descriptive method with a juridical-empirical approach. The results showed that the calculation of the musharaka ratio for retail products at Indomaret in Kudus was not in accordance with Islamic law through the fatwa of DSN MUI No 08/DSN-MUI/IV/2000 on the principle of Distribution of Business Results. In addition, the implementation system for calculating the musharaka ratio for retail products at Indomaret in Kudus tends to be subjective, not as in the Qur'an letter an-Nahl:9.Abstrak: Industri ritel merupakan bisni Indonesia yang menyediakan kebutuhan pokok dan kebutuhan sehari-hari. Industri ini bergerak dalam bidang usaha perdagangan yang cukup menjanjikan Mengadakan kerja sama (joint venture) dengan masyarakat dan badan usaha yang ingin membuka usaha dalam bidang perdagangan (businessretail) dengan sistem waralaba. D isisi lain, konsep kerja sama yang diusung oleh fatwa DSN MUI No 08/DSN-MUI/IV/2000 juga harus berus diterapkan demi terwujudnya konsep Musyarakah. Tujuan penelitian ini adalah untuk mengetahui bagaimana pelaksanaan perhitungan nisbah musyarakah produk retail pada Indomaret di Kudus serta bagaimana analisa fatwa DSN MUI No 08/DSN-MUI/IV/2000 terhadap sistem pelaksanaan perhitungan nisbah musyarakah produk retail pada Indomaret di Kudus. Penelitian ini menggunakan metode deskriptif kualitatif dengan pendekatan yuridis-empiris. Hasil penelitian menunjukkan bahwa pelaksanaan perhitungan nisbah musyarakah produk retail pada Indomaret di Kudus tidak sesuai dengan Hukum Islam melalui fatwa DSN MUI No 08/DSN-MUI/IV/2000 tentang prinsip Distribusi Hasil Usaha. Selain itu, sistem pelaksanaan perhitungan nisbah musyarakah produk retail pada Indomaret di Kudus cenderung bersifat subjektif tidak sebagaimana dalam al-Qur’an surat an-Nahl ayat 9.
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Conde Gómez, Guillermo. "El contrato de franquicia en la Propuesta de Anteproyecto de Ley de Código Mercantil tras el Dictamen del Consejo de Estado." Revista de Derecho de la UNED (RDUNED), no. 26 (December 18, 2020): 77. http://dx.doi.org/10.5944/rduned.26.2020.29166.
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El presente trabajo aborda el análisis del contrato de franquicia a la luz de la regulación prevista para los contratos de distribución en los artículos 545-1 y ss. de la Propuesta de Anteproyecto de Ley de Código Mercantil tras el Dictamen del Consejo de Estado. Pese a su gran importancia, nuestro ordenamiento jurídico carece actualmente de un régimen legal que regule un marco jurídico propio del contrato de franquicia, teniendo por tanto dicho contrato la consideración de atípico. No obstante, si bien la Ley 7/1996, de 15 de enero, de Ordenación del Comercio Minorista y el Real Decreto 201/2010, de 26 de febrero, por el que se regula el ejercicio de la actividad comercial en régimen de franquicia y la comunicación de datos al registro de franquiciadores, regulan algunos aspectos del contrato de franquicia en España, dichas regulaciones resultan del todo insuficientes, de tal manera que a día de hoy el contrato de franquicia continúa teniendo al Código Civil y al Código de Comercio como principales referencias normativas. De esta manera, la regulación del contrato de franquicia prevista en la Propuesta de Anteproyecto de Ley de Código Mercantil tras el Dictamen del Consejo de Estado, pese a no ser el primer intento de regular el contrato de franquicia, de finalmente materializarse constituirá un importante avance en la regulación de dicha figura contractual en nuestro ordenamiento jurídico, aportando mayor seguridad jurídica al sector de la franquicia en España.This paper analyzes the franchise agreement in light of the regulation provided for distribution agreements in articles 545-1 et seq. of the Proposal of the Draft Law of the Commercial Code issued after the Opinion of the Spanish State Council. Despite its great importance, our legal system currently lacks a legal regime that regulates a legal framework of the franchise agreement, therefore, said agreement is considered as atypical. However, although Law 7/1996, of January 15, on Retail Trade and Royal Decree 201/2010, of February 26, which regulates the exercise of commercial activity under the franchise regime and the communication of data to the franchisor registry, regulate some aspects of the franchise agreement in Spain, these regulations are completely insufficient, therefore to this day the franchise agreement continues to have the Spanish Civil Code and the Spanish Commercial Code as its main legal references. Thus, the proposed regulation of the franchise agreement provided for in the Proposal of the Draft Law of the Commercial Code issued after the Opinion of the Spanish State Council, despite not being the first attempt to regulate the franchise agreement, if it finally occurs will constitute an important step forward in the regulation of such agreement in our legal system, providing greater legal certainty for the franchise sector in Spain.
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Fawaiq, Muhammad. "ANALISIS MODA ENTRI PENYEDIA JASA RITEL INDONESIA KE ASEAN: STUDI KASUS PADA ALFAMART." Buletin Ilmiah Litbang Perdagangan 9, no. 1 (July 31, 2015): 25–43. http://dx.doi.org/10.30908/bilp.v9i1.14.
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Studi ini bertujuan untuk menganalisis moda entri jasa ritel Indonesia ke negara-negara ASEAN sesuai dengan komitmen setiap negara di AFAS Paket 8. Metode yang digunakan adalah analisis deskriptif dan indeks Hoekman. Hasil studi menunjukkan bahwa Alfamart masuk ke pasar jasa ritel Filipina tanpa memanfaatkan kerjasama AFAS. Hal ini disebabkan Filipina masih menutup jasa ritelnya pada kerjasama tersebut. Moda entri yang digunakan Alfamart untuk masuk ke Filipina adalah waralaba. Suksesnya Alfamart menjadi tolak ukur untuk mengembangkan alternatif moda entri ke negara-negara ASEAN lainnya sesuai dengan hasil pemetaan peluang akses pasar di AFAS Paket 8. Moda Entri yang diusulkan tersebut yaitu: a) Waralaba untuk negara yang belum terbuka (indeks Hoekman 0) yaitu Brunei Darussalam dan Laos, b) Usaha patungan pada negara-negara yang membuka akses pasar dengan pembatasan (indeks Hoekman 0,5) yaitu Malaysia dan Myanmar, dan c) Kepemilikan saham penuh pada negara-negara yang membuka akses pasar tanpa pembatasan (indeks Hoekman 1) yaitu Vietnam, Kamboja, Singapura dan Thailand. Faktor kunci suksesnya ekspor jasa ritel dalam kasus ini adalah mitra bisnis lokal yang membeli master franchise. Untuk itu, pemerintah dapat berperan dalam promosi dan misi dagang ke luar negeri untuk menarik mitra bisnis. The aim of this study is to analyze the mode of entry of Indonesia’s retail supplier into ASEAN countries in accordance with the commitment of each country in AFAS Package 8. The methods deployed in this study are the Hoekman Index and descriptive analysis. The study results show that Alfamart has entered into the Philippine market retail services without utilizing AFAS cooperation. This is due to Philippines’s policy that still close its retail services market on such cooperation. The mode of entry used by Alfamart is franchise service. The success of Alfamart can be a benchmark to develop alternative modes of entry into other ASEAN countries in accordance with market access opportunities mapping of AFAS package 8. The alternatives of entry modes proposed in this study are: a) franchise for countries that does not have open access yet (indeks Hoekman 0) such as Brunei Darussalam and Laos, b) joint ventures in countries which have limited open access (indeks Hoekman 0.5) such as Malaysia and Myanmar , c) and wholly owned subsidiary in countries with full access into the market without restrictions (indeks Hoekman 1) such as Vietnam, Cambodia, Singapore and Thailand. A key factor which contributes to the success of retail service exports is local business partners who purchases master franchise. For that, the government can play a decisive role in promoting trade missions abroad to attract business partners.
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Zhiglova, Yana A., Dariko K. Balakhanova, Aleksei Zh Yakushev, Sergey L. Ozerov, and Tamerlan R. Marzaganov. "ANALYSIS OF FOREIGN AND RUSSIAN PRACTICAL EXPERIENCE OF BUSINESS MODELING ON THE EXAMPLE OF GLORIA JEANS JSC." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 5/2, no. 146 (2024): 77–86. http://dx.doi.org/10.36871/ek.up.p.r.2024.05.02.009.
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The relevance of this article lies in identifying and building an adaptive business model for the rapidly changing and unstable business in the clothing retail industry in Russia. It is impossible to imagine the existence of a successful business without a clear visualization of its activities; it must not only be well thought out, but also properly designed. Business modeling can help with this. The purpose of the article is to analyze the conduct of activities of JSC Gloria Jeans, build a business model of the organization and formulate recommendations for its improvement. An assessment of the market and leading representatives in the retail trade was carried out, and a business model of Gloria Jeans JSC was built based on an analysis of its activities. The ways of developing the business model are proposed: segmentation of consumers, opening stores under a different brand, opening a franchise and scaling a business, founding a group of companies.
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Mookherjee, Dilip. "Decentralization, Hierarchies, and Incentives: A Mechanism Design Perspective." Journal of Economic Literature 44, no. 2 (May 1, 2006): 367–90. http://dx.doi.org/10.1257/jel.44.2.367.
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Separation of ownership from management, multidivisional firm organizations, delegation of production decisions to worker teams, delegation of pricing and advertising decisions to retail franchisers, reliance on intermediaries in trade or finance, and distribution of regulatory authority across different agencies represent examples of organizations that delegate and distribute decision-making authority instead of centralizing it. This paper reviews literature on costs and benefits of delegated decision making in hierarchical organizations or contracting networks with regard to problems of incentives and coordination. It starts by describing incentive and coordination costs of delegation in simple canonical examples of hierarchies where both information and incentives of different decisionmakers differ. One class of models pertain to contexts where the classical Revelation Principle applies, i.e., where costs of contractual complexity, information processing, or communication are absent, agents do not collude, and the mechanism designer can commit to the mechanism. Delegation may conceivably entail a loss of control and coordination arising from the divergence of information and incentives. Sufficient and necessary conditions for this loss to be mitigated entirely include risk neutrality, top-down contracting, and monitoring of transfers or production assignments between subordinates. The next class of models introduces communication costs that restrict the performance of centralized arrangements relative to delegation owing to a resulting loss of flexibility, which has to be traded off against possible control losses of delegation. Finally, consequences of collusion among agents is discussed, which typically enlarge the range of circumstances under which delegation can attain optimal second-best outcomes. The paper concludes with a discussion of the relevance of this theoretical literature to recently emerging empirical studies of industrial organizations where delegated decision making plays an important role: adoption of innovative human resource management practices, new information technologies and retail franchising.
Dissertations / Theses on the topic "Franchises (Retail trade)"
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Tam, Chiu-yung Carrie. "Franchising in Hong Kong : current and unexplored opportunities /." [Hong Kong : University of Hong Kong], 1992. http://sunzi.lib.hku.hk/hkuto/record.jsp?B13302267.
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Esmeraldo, Rosa. "How can a potential franchisor establish a successful franchise in fast moving consumer goods." Thesis, Port Elizabeth Technikon, 2004. http://hdl.handle.net/10948/235.
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Franchising has become the latest trend in business expansion and business acquisition and with the South African franchising market estimated at being around 12% and growing rapidly, enormous potential for future growth is indicated. Companies both local and international are seeking franchise expansion opportunities in Africa despite the higher risks. The significance of implementing franchises into Africa is the filtering down of business opportunities to the small and medium enterprise sector. It can be said that franchising promotes business growth and private ownership, while improving the quality of life of the poor through its impact on income and employment. A franchise organisation that grows too quickly might not have the necessary ‘factors’ in place to support all of the units properly. In the survey conducted, it was indicated that the franchise business practice echoed the literature reviewed. All the steps necessary to establish a franchise are important but not necessarily as equal. The more matured franchisee needed less guidance from the franchisor and relied more on the business concept and location. Potential franchisors need to take the necessary steps to establish a franchise and treat each step as an important part of the franchise process.
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Inma, Chutarat. "Building successful franchises: the influence of franchise heterogeneity and relationship management on franchise success." Thesis, Inma, Chutarat (2002) Building successful franchises: the influence of franchise heterogeneity and relationship management on franchise success. PhD thesis, Murdoch University, 2002. https://researchrepository.murdoch.edu.au/id/eprint/107/.
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Franchising is a form of business arrangement which has been claimed to offer a high possibility of business success. The reason for its growing support may be due to the benefits franchising offers to the individuals (franchisees), the organisations (franchisors), the public and the whole economy. The notion that franchising offers a successful guarantee for business operations warrants investigation into what factors contribute to likely success.
The characteristics of franchise firms have been identified as a significant factor in ensuring franchise success. In this study, franchise firms were classified into four groups using hierarchical cluster analysis: the beginners, the developers, the growers and the matures. The profiles were tested against reported performance measures, indicating that franchise firms in the growing group outperform firms in other groups. However, this is only one component which may influence a successful franchise development.
Relationship management is a second, critical area in building a strong franchise network. Some significant relationship building factors are explored in this thesis. Control, influence strategy, franchisee information asymmetry and communication strategy were found to be significant factors which lead to franchise competitive advantage. The results show that control and coercive influence strategy negatively influence franchise outcomes, while noncoercive influence strategy, information asymmetry and communication strategy positively enhance the franchise relationship. The results of multiple regression analyses also indicate that the combined effects of these franchise strategies have a significant impact on franchise outcomes; namely, financial performance, franchise goal congruence and franchisee satisfaction.
The findings suggest that franchise firms can adjust their strategies to enhance their business success. Control, influence, information and information strategies can be used to maintain and induce healthy franchise relationships within the franchise dyad. The study also significantly extends the existing understanding of franchise heterogeneity theories, key criteria of franchise business competitiveness, the unique business relationship between franchisor and franchisee and franchise factors contributing to franchise success in the current franchising literature.
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Inma, Chutarat. "Building successful franchises : the influence of franchise heterogeneity and relationship management on franchise success /." Inma, Chutarat (2002) Building successful franchises: the influence of franchise heterogeneity and relationship management on franchise success. PhD thesis, Murdoch University, 2002. http://researchrepository.murdoch.edu.au/107/.
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Franchising is a form of business arrangement which has been claimed to offer a high possibility of business success. The reason for its growing support may be due to the benefits franchising offers to the individuals (franchisees), the organisations (franchisors), the public and the whole economy. The notion that franchising offers a successful guarantee for business operations warrants investigation into what factors contribute to likely success.
The characteristics of franchise firms have been identified as a significant factor in ensuring franchise success. In this study, franchise firms were classified into four groups using hierarchical cluster analysis: the beginners, the developers, the growers and the matures. The profiles were tested against reported performance measures, indicating that franchise firms in the growing group outperform firms in other groups. However, this is only one component which may influence a successful franchise development.
Relationship management is a second, critical area in building a strong franchise network. Some significant relationship building factors are explored in this thesis. Control, influence strategy, franchisee information asymmetry and communication strategy were found to be significant factors which lead to franchise competitive advantage. The results show that control and coercive influence strategy negatively influence franchise outcomes, while noncoercive influence strategy, information asymmetry and communication strategy positively enhance the franchise relationship. The results of multiple regression analyses also indicate that the combined effects of these franchise strategies have a significant impact on franchise outcomes; namely, financial performance, franchise goal congruence and franchisee satisfaction.
The findings suggest that franchise firms can adjust their strategies to enhance their business success. Control, influence, information and information strategies can be used to maintain and induce healthy franchise relationships within the franchise dyad. The study also significantly extends the existing understanding of franchise heterogeneity theories, key criteria of franchise business competitiveness, the unique business relationship between franchisor and franchisee and franchise factors contributing to franchise success in the current franchising literature.
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Spencer, Elizabeth Crawford. "The regulation of the franchise relationship in Australia: a contractual analysis." Gold Coast, QLD : Bond University, 2007. http://epublications.bond.edu.au/theses/spencer.
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Lafontaine, Francine. "Franchising as a share contract : an empirical assessment." Thesis, University of British Columbia, 1988. http://hdl.handle.net/2429/28849.
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Contractual arrangements have been the subject of a substantial body of economic
research. In particular, economists have sought an explanation for the existence
of share contracts. Under this kind of contract, two or more parties share in the output of the production process. These contracts present a problem to economists because they imply more than one residual claimant. Thus incentives are diluted and inefficiency is expected to result. But this type of contract has existed for centuries and continues to be used today. Why is that if they are inefficient? The answer is that under conditions of uncertainty and imperfect information, share contracts can be preferable to fixed-wage (vertical integration) or fixed-rent (market transaction)
agreements. In fact, many explanations for the existence of share contracts and their coexistence with fixed-wage and rental arrangements are found in the theoretical literature.
While the theoretical literature on the subject of share contracts has flourished over the last decade, empirical analyses of these models has lagged behind. This thesis aims to rectify the situation somewhat. More precisely, recent advances in the theoretical literature are applied to the analysis of franchise contracts. An empirical
model of franchising based on profit-maximizing behavior is developed which makes it possible to examine whether the factors theorists have suggested as potential
explanations for share contracts are relevant when it comes to explaining what one observes in the context of franchising, and whether their effects are consistent with predictions from the various theories. Both the contract mix, i.e. franchisors' decisions concerning the proportion of stores they want to operate and franchise, and the terms of the franchise contract, fixed and variable fees, are examined.
In order to carry out the analysis, data on a cross-section of 548 individual franchisors
in 1986 were gathered. These franchisors are involved in a variety of business activities in the U.S., such as Fast-food Restaurants, Business Aids and Services, Construction and Maintenance, and Non-food Retailing. Censoring problems arise from the fact that a number of franchisors in the sample franchise all of their outlets. Also, some firms require no variable or no fixed fee. For these reasons, the maximum likelihood Tobit estimator is used.
Empirical work in an area such as this, where theories rely on concepts that are not easily quantifiable, can hardly provide unambiguous answers about the validity of the theories. Nevertheless, the following results emerge from the empirical analysis. First, the effect of risk, measured either by the proportion of discontinued outlets or by the variance of sales in the sector, is found to be the opposite of what pure risk-sharing and one-sided hidden-action models would predict. Second, firms resort to franchising more often when monitoring downstream operators becomes costlier, and use it proportionately less when the value of the inputs they themselves provide increases. This is consistent with two-sided hidden-action models. Results with respect to capital-market-imperfection arguments are rather inconclusive. It appears that franchising relaxes some form of constraint franchisors face in trying to expand their operations, since they use it more when they are growing faster, but whether this is a financial constraint remains unclear.
The explanatory power of the model is greater with respect to the proportion of franchised stores than it is for any of the two fees. Thus, in response to changes in the exogenous variables considered here, franchisors, who have a choice between modifying the terms of their franchise contract or changing the proportion of stores they want to franchise, tend to do mostly the latter.
Contrary to what one would have expected on a theoretical basis, the observed royalty rates and franchise fees are not negatively correlated in this data set. Combined
with the fact that the model is less satisfactory relative to the fees, this suggests that there are considerations in the determination of the royalty rate and the franchise
fee that have not been taken into account in the theories. One possibility in the case of the fixed fee is that it may include the price of services provided by the franchisors.
It also appears that franchisors use input sales as another means to extract rent from franchisees. This may contribute to the lack of correlation between the two fees. Finally, the equation for the franchise fee was derived under the assumption that all remaining surplus at the downstream level, given the royalty rate, should be extracted through the franchise fee. The lack of relationship between the fees could be an indication that this assumption is incorrect, and that there are in fact rents left at the downstream level. This would be consistent with the existence of queues of potential franchisees in many franchise chains.Arts, Faculty of
Vancouver School of Economics
Graduate
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Thomson, Guy. "Franchising a full service restaurant concept : a case study." Thesis, Nelson Mandela Metropolitan University, 2008. http://hdl.handle.net/10948/874.
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This treatise investigates the restaurant industry, entrepreneurship, franchising and restaurant franchising in order to develop a model that will enable a full service restaurant concept to be converted into a successful franchise system. Restaurants play a significant role in our lifestyle, and dining out is a favoured social activity. The industry plays an important role in the transfer of skills as many people start working in the restaurant industry before moving onto more formal careers. The restaurant industry offers many opportunities for entrepreneurial activity as a result of the relatively low barriers to entry. Entrepreneurship is the pursuit of opportunity regardless of the resources at hand and it requires a willingness to take calculated risks in order to build something of value from virtually nothing. The success of emerging economies such as China and India has proven that the only growth sectors in these economies are small and medium enterprises, which are driven by entrepreneurs. Franchising is considered to be a viable growth strategy for small business as it provides a means of raising capital and a method of expanding the business in a relatively low risk manner. There are many well established restaurant franchise brands that originated in South Africa, starting out as successful single outlets and then by means of the business format franchise model, developed into multi unit franchise systems. There are certain basic generic steps that must be followed when developing a franchise system. This was verified by the empirical study of this treatise which was conducted as a single unit case study on the Dulce Franchise Group. Finally, as a result of the analysis of the literature study and the findings of the case study, a restaurant franchise conversion model was developed.
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Kellner, Ashlea Kate. "Examining the Balance between Franchisor Control and Franchisee Autonomy in Human Resource Management." Thesis, Griffith University, 2013. http://hdl.handle.net/10072/367774.
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The franchise model has transformed modern retailing and the economic effects have been experienced on an international scale. Although the contemporary approach to franchising was only developed half a century ago, it has quickly evolved into a highly effective, profitable and widely adopted business strategy, particularly in the Australian market. Despite the current profusion of franchising and the potential for continued growth, fundamental questions about the management of people in these organisations remain relatively unexplored.
Franchising presents a unique composition of autonomy and control. The autonomy of franchisees is located midway between that of employed managers and independent business owners, while the powerful franchisor controls core business processes such as marketing and product development. Although agency theory suggests that heavy franchisor control over certain functions is integral to the success of the franchise model, the applicability of this concept to human resource management (HRM) is unclear. This thesis addresses research deficiencies at the junction of HRM and franchising through three research questions: how is the approach to HRM enacted in the franchise relationship; what factors influence the approach to HRM in the franchise relationship, and; what are the implications of the approach to HRM for franchisees?
The HR department is critical to determining the approach an organisation adopts to managing human resources. In this thesis, the work conducted by the HR department was identified and classified according to existing models, enabling comparisons with the roles performed in more traditional organisations. Determination of these roles was regarded as an outcome of the strategic decision-making process, influenced by certain contextual variables. Accordingly, this thesis considers how strategic HRM decision-making in franchises is impacted by internal and external factors determined by an extensive review of the relevant literature.Thesis (PhD Doctorate)
Doctor of Philosophy (PhD)
Griffith Business School
Griffith Business School
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Chui, On Kei. "A survey on franchising and an application of incomplete contract /." View abstract or full-text, 2004. http://library.ust.hk/cgi/db/thesis.pl?ECON%202004%20CHUI.
Full textAbstract:
Thesis (M. Phil.)--Hong Kong University of Science and Technology, 2004.Includes bibliographical references (leaves 34-36). Also available in electronic version. Access restricted to campus users.
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Chiu, Esther Y. "An exploratory study of franchisee turnover and its relationship with franchisee satisfaction." Thesis, This resource online, 1992. http://scholar.lib.vt.edu/theses/available/etd-10062009-020109/.
Full textBooks on the topic "Franchises (Retail trade)"
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Leahy, James D. Franchising: The perceived advantages to the franchiser and franchisee. Dublin: University College Dublin, 1994.
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1936-, West Thomas L., ed. Buying a franchise. Lexington, Mass: S. Greene Press, 1986.
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Ilan, Alon, and Welsh Dianne H. B, eds. International franchising in industrialized markets: Western and Northern Europe. Chicago: CCH Inc., 2003.
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Hall, Peter. Franchising. London: Pitman, 1988.
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Foster, Dennis L. Franchising for free: Owning your own business without investing your own cash. New York: J. Wiley & Sons, 1988.
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Stanworth, John. The Barclays guide to franchising for the small business. Oxford, UK: Blackwell, 1991.
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Baillieu, Danielle. Streetwise franchising: Everything you need to know about taking up and running a successful franchise. London: Century, 1994.
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Sugars, Bradley J. Successful franchising. New York: McGraw-Hill, 2006.
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Constance, Jones. The 220 best franchises to buy: The sourcebook for evaluating the best franchise opportunities. New York: Bantam, 1993.
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Constance, Jones. The 220 best franchises to buy: The sourcebook for evaluating the best franchise opportunities. Toronto: Bantam Books, 1987.
Find full textConference papers on the topic "Franchises (Retail trade)"
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Jović, Njegoslav. "PRAVNI ASPEKTI UGORORA O FRANŠIZINGU KOJI SE ODNOSE NA PROMET PRAVA INDUSTRIJSKE SVOJINE." In 14 Majsko savetovanje. University of Kragujevac, Faculty of Law, 2018. http://dx.doi.org/10.46793/xivmajsko.477j.
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The subject of this paper is the legal aspects of franchising contracts that relate to the transfer of industrial property rights. The Franchise Agreement is an unnamed commercial contract in most countries of the world. The areas where franchising activities are most common are retail, tourism, hotels, recreation, business and personal services. However, the areas in which this business arises is not exhaustive. The transfer of property rights to industrial property rights falls within the autonomy of the contracting parties. Owners of industrial property rights usually traded industrial property rights through a license contract as a form of constitutive traffic and a cession contract as a form of translational traffic. However, there is no impediment to the exercise of these rights as a form of constitutive traffic and through other more complex contracts. One of these contracts is the franchising contract. This work does not include the economic aspects of franchising, but exclusively relates to legal aspects.