Edited by Jeremi Brewer and Stephen W. Gibson
Chapter 12: Microfranchising: a solution to necessity entrepreneurship
Microfranchising has emerged as a compelling solution to the entrepreneurial burden. It is an innovative, market-based approach for development practitioners, NGOs, aid administrators, microfinance institutions, and especially necessity entrepreneurs to consider. At its core, microfranchising is a development tool that leverages the basic concepts of traditional franchising, but it is principally focused on creating opportunities for the world's poor to own and manage their own businesses, and to restore their self-reliance and human dignity. In this chapter we pinpoint the entrepreneurial burden by first, identifying the fallacy of the entrepreneur; and second, by exploring the nature of the necessity entrepreneur. We review the inherent risks and rewards associated with microfranchising. We demonstrate that above any other development tool or poverty-alleviating solution, the microfranchising model is more suited for the necessity entrepreneur and more completely addresses the fallacy of the entrepreneur.
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