As globalization plays an increasingly prominent role in the world economy. Business are actively seeking to expand their operation abroad. The rise of franchise operations in countries such as China and India to name a few is sending a strong signal to long established franchise and newly established franchise alike that international franchise is here to stay. It is estimated that over 75 percent of the expected growth in the world’s trade over the next two decades will come from developing countries.
Specifically emerging markets. When you here the phrase “emerging markets”, typically the first countries to come to mind are the larger ones such as the “BRICS” countries. However, smaller countries have future growth potential that simply shouldn’t be ignored such as Iran who is now beginning to see an uptick in franchise activity. Although they are becoming more financially sound and developing a stronger middle class. Iran still hasn’t been cultivated by any franchisors. Consequently, entrepreneurs are generally eager to learn business principles through the methods and procedures franchisors have to offer.