Franchising Extant Literature Has Been Literature Review

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Another study by Guilloux, Gauzente, Kalika, and Dubost (2004) indicated that the most important aspects of successful franchising are advice as well as assistance then followed by the level of name recognition of the franchisor, the chances of eventually owning multi-outlets, support services as well as the potential profitability.

The existing literature indicate the need for more theoretical backing (Combs et at, 2011,p.102).

More studies are necessary in order to explain the reasons as to why one would be attracted to franchising as well as franchising is a wonderful opportunity for the aspiring/potential franchisees.

4. Consequences of Franchising

Extant literature has been dedicated to the study of the consequences of franchising. Combs et at, 2011,(p.102) explored the consequences of franchising. This is in line with the opinion of Busenitz et al., (2003) that the process of building a new business venture must involve the prediction of its success as well as failure rates. Nag, Hambrick, & Chen (2007) further indicated that the determination of the performance of a given company marks the cornerstone of various strategic management studies. In regard to franchising, Kalnins & Mayer (2004) studied the survival of franchises, Szulanski & Jensen (2008) studied growth while Yin & Zajac (2004) studied financial performance.

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Other outcomes such as franchise satisfaction were also studied by Bordonaba-Juste & Polo-Redondo (2008). Shane et al. (2006) studied the system size while the prospensity towards free riding was studied by Kidwell, Nygaard, & Silkoset (2007).

Consequences of Franchising

In regard s to the outcomes of franchising, Kaufmann & Lafontaine (1994) as well as Michael & Moore (1995) concentrated on the amount of profits which is allocated to various franchises.

The work of Holmberg and Morgan (2004) after an examination of eight hundred franchise systems within a four-year period indicated that the median exit rate was between 9-10.5%.

This suggested that this particular area should be researched on further.

The effect of franchise offers on exit were also studied by Michael and Combs (2008) who found that the level of franchisor investment on advertisement and training positively impacts the chances of survival.

Guilloux et al., (2004) on the other hand found out that the quality of the sev=rvice delivery by the franchisor is an important factor in the survival of a franchise.

5. Identification of critical successful factors for franchising

Several….....

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