FRANCHISING: HYBRID ORGANISATIONAL ARRANGEMENT FOR FIRM GROWTH AND NATIONAL DEVELOPMENT
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Authors:
• Olu Ojo, email: unknown, Afiliation: Department Of Business Studies, Covenant University, P. M. B. 1023, OTA, Ogun State Nigeria -
Keywords: Enterpreneurship, Franchising, Market, National Development
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Abstract:
This paper examines the practice of franchising as a strategy by which entrepreneurs can expand their venture and make substantial return from their investments. The paper tries to explore the extent to which franchising is being practiced in Nigeria and the resultant effect of franchising on the national economy. The study was done by taking intensive study of Nigerian business world to see the extent of the practice of franchising system of business. The result of this study shows that franchising is not well known or practiced in Nigeria. Only a handful of business entities such as the Nigerian Bottling Company and some fast food companies have been engaged in franchising. The paper recommends that government should create a greater awareness of the franchise strategy so that more investors will be aware of it and invest in it. This will create more employment opportunities, reduce poverty level, and ultimately improve the Gross Domestic Product of the nation.