Title

Introduction

Date of this Version

2011

Document Type

Book Chapter

Publication Details

Citation only

Spencer, E. C. (2011). Introduction. In E.C. Spencer (Ed.) Relational rights and responsibilities: Perspectives on contractral arrangements in franchasing (pp 1-4). Robina, Queensland: Bond University Press.

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© Copyright Elizabeth C. Spencer and individual contributors their contribution, 2011

ISBN

9780987150905

Abstract

Extract
Modern franchising has proved to be a remarkably successful business model. Today franchised businesses operate in about two-thirds of the approximately 192 countries in the world, making a major economic contribution. An estimated US$2 trillion in revenue every year is generated worldwide through this business form, enough to equal the fourth largest GNP in the world and to create more than 20 million job opportunities.1 McDonald’s Corporation has over more than 32,400 restaurants serving burgers and fries in more than 100 countries and in 2010 reported sales revenue of over US$24 billion (up almost 6 per cent). The operation of franchises impacts economic, social and political conditions,2 and has for the past quarter century been on the increase worldwide.3

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This document has been peer reviewed.