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Franchising

What is the franchising industry?

Franchising is a time-honoured and beneficial sector of the marketing industry. It focuses on an enterprise that permits other companies to use its products. It includes using the system's trademark and branding for a set time. The sector is valuable to various industries. For example, the food, beverage, logistics, and transportation industries rely on the sector. Likewise, it is invaluable to the retail, beauty, fitness, and healthcare sectors. The medicine, consumer goods, and electronics industries also rely on it. It also links to the real estate, automotive, travel and entertainment sectors. This results in one in seven global enterprises being a franchise. Thus, around two million franchised firms comprise the international industry.

Is the sector innovative and of high value?

The franchising industry is a high-value segment. For instance, it has recently reached a market size of over $890 billion. The sector is among the innovative and network-focused divisions. It is due to novel solutions helping it maintain its position. Such innovations address challenges, such as sustainability. Often, presenters show novel solutions during trade expos in various countries. Such include the Kingdom of Spain and the Kingdom of the Netherlands. They also feature the Federative Republic of Germany. Such events occur every year, although there are exceptions held every three years. Franchising events often attract tens of thousands of attendants.