Franchising as a Tool for Small and Medium Business Development

Abstract

The article explains how to improve efficiency and extend the life of small and medium-sized businesses with franchising support. Franchising is a way of distributing products and services, the method of expansion of successful enterprises. The attractiveness of franchising is due to its extensive development in the global and domestic economy. The world practice shows that the franchising method of business organization and development is widely used in many countries around the world. Franchising significantly reduces the risks associated with the creation in starting business. Franchising is spread in different ways, depending on the country, customs, culture, and especially all that is related to the socio-economic history of the trade, the development level and economic system.

DOI: 10.5901/mjss.2015.v6n5p429