You may have just started to consider establishing new franchises but the world of franchising has existed in some way for as long as business and trade has existed. Franchising, as we know, it may not be the same that our ancestors may have known, but it has always been a successful way of spreading a business or expertise.
Today, it is regarded as the best ways for people of all ages who dream of running their own business while having the support and processes of an established company on their side.
The expert at Franchise UK have given us a brief insight into the ways franchising has changed over the years:
Franchising Through the Ages
Today, learning about new franchising opportunities and finding the latest trends in franchising is as easy as logging into a computer or searching it on your smartphone. Things were not that simple back in the day; franchising opportunities were few and far across and were not similar to how modern franchising works.
Different experts have contrasting opinions about the birth of contemporary franchising, and some believe that it started in the early 1850s while others think that modern franchising was founded recently during the last recession, which goes to show that franchising has existed in a conventional manner for a long time.
1850s And 1890s
Many experts crowned John “Albert” Singer as the father of modern franchising when he in 1951 attempted to expand the “Singer” brand. Unfortunately, his initiative did not bear fruit as his idea was rejected mainly by the business people of the time, which were set in their ways of doing business. Forty years later, in 1891, Martha Matilda Harper founded the Harper Method Shop franchise system. The International Franchise Association officially recognized her as the first franchisor in the year 2000.
1930s
In the 1930s is when we can see that the idea modern franchising took off and became widely accepted when food franchises UK became popular. Howard Johnson opened the first franchise restaurant, which will set into motion the golden eras of food franchises when fast food chains followed the successful example of Howard Deering Johnson.
1950s
The international fast food giant McDonald’s joined the world of franchising in the 50s, and by 1955 it had turned the franchising world on its head by opening numerous highly successful fast-food franchises across the US and then many years later went on to dominate the international fast food market. Soon after McDonald’s started expanding the business through franchising, KFC, another fast food giant joined the scene.
Franchising went through a phase of incredible growth during this time due to technological advancements and the growing demand for fast food.
1960s
Following the examples of McDonald’s and KFC, other fast food companies and coffee franchises started to franchise their business. During this period, other industries such as the hospitality industry, service industry joined the franchising world to spread their services across countries and around the globe. This branching out of the types of franchising business meant its popularity was also increasing and more people were willing to invest in franchising opportunities.
Franchising Of The Recent Past
Over the last two decades, the growth of franchising has gained even more momentum with the advent of the internet and the globalization movement. Borders no longer limit businesses as the internet has made connectivity and collaboration more straightforward and simpler than ever before.
During recessions, it has been noticed that franchising becomes even more popular, statistical data shows economy and franchising are inversely correlated.
During times when employees are laid off from work, there is a growth in the number of new franchises that have been bought by people who consider franchising as an alternative to having a corporate job or starting their own business from scratch.
Franchising Today
Even today, increasing amounts of people are opting to buying a franchise to counter the effects of economic uncertainty prevalent today. Franchising combines the best of both worlds – the freedom of running your own business and support and systems of a successful sizeable corporate organization helping you succeed. Franchising today has branched out to every industry and sector imaginable including mobile van based franchises.
