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Andrew Terry and Marko Grünhagen

Franchising is an international phenomenon which has long developed beyond its relatively humble origins in the US. It has expanded as a significant business activity into all regions of the world and is a key driver of internationalization in an increasingly integrated global economy. Franchising is not only an effective channel and key growth driver for enterprises looking to venture into international markets, but it also offers significant advantages to the host country providing an important means of economic, social and commercial development. The expansion of international franchise systems has also been the catalyst for the development of increasingly robust domestic franchise sectors. Franchising is a particularly important strategy in developing markets, many of which are in Asia – the region poised to dominate the global economy and which is home to a number of diverse, energetic and growing domestic franchise sectors. Asia has enthusiastically embraced franchising which is growing exponentially but is far from reaching its full potential. While some of the Asian economies were early adaptors to franchising – in particular South Korea and Japan where franchising is very firmly entrenched – the development of franchising in Southeast Asia, the focus of this chapter is, with the exception of Singapore, a much later development and is very much a work in progress. The growth and development of franchising in this region of the globe is, nevertheless, progressing strongly and every indicator points to significant growth of franchising as a means of economic and social development in the future.