Buying into a franchise offers entrepreneurs the opportunity to own and operate a business with an established brand, proven operating model, and ongoing support. Franchising provides a framework for individuals to leverage the resources and expertise of an existing company while minimizing the risks associated with starting a business from scratch.
Franchising has a long history, dating back to the Middle Ages. The first recorded franchise agreement was established in 1851 by Isaac Singer, the inventor of the sewing machine. Today, franchising is a global industry, with over 40,000 franchise systems operating in over 100 countries. This growth is attributed to the numerous benefits that franchising offers to both franchisors and franchisees, including: