What are the secrets behind the success of the biggest franchised businesses?
Without research here are some broad opinions:
STARBUCKS - reinvented the notion of ‘coffee’. Rather than it being FUNCTIONAL - he saw what they were doing with it in Italy and made coffee SOCIAL
MCDONALDS - Ray Kroc had high high standards for production . Introduced ‘Hamburger University’ in 1961 . Systematized the whole process of serving and running the restaurants such that EVERY restaurant feels the same worldwide. First of it’s kind to do this
PIZZA HUT founded by two brothers. Within 10 years they had 310 locations . Franchises were very new at the time. There wasn’t one in existence for Pizza. They found a gap in the market.
- First mover advantage seems to play a huge role here.
The landscape today is v.different
transcribed from secrets of successful franchises