Ever find a Starbucks down the street from another Starbucks? Although the coffee super-giant is not technically a franchise, it is clear that there is strength in numbers. After all, countless global companies use the franchise system.
How do franchises work and why are there so many of them? The model allows a franchise to create a tried and true business with a family brand. This makes commercial success much easier to achieve.
Video credits to FinLit YouTube channel