Pre-requisite: 51361/51119
The history and development of franchising will be examined, with particular attention to business format franchising growth in the USA and its subsequent rapid expansion in Australia and worldwide. Problems of defining and regulating franchising will be considered, including its various forms, innovations and changing expressions. Responsibilities and rights of franchisors and franchisees, their special relationship and respective contributions to mutual success will be discussed. The unique management skills necessary for franchisors will receive particular attention, using case studies from Australia and overseas. The role of franchisees and changes occuring to fully utilise their contributions will be examined. The potential franchisee will also be considered including means of assessing the viability and suitability of franchises being offered. The increasing attention of governments towards franchising, in supervising its practices and as a means of economic development, as well as other trends and opportunities in franchising worldwide, will complete examination of this important business technique.