DEVELOPMENT OF FRANCHISING IN MODERN ECONOMIC CONDITIONS

In the context of growing competition and dynamic economic and political changes, choosing an effective business development model is extremely important. Examples of management decisions in 2022-2024 at the level of multinational corporations confirm this thesis. The key elements of the franchise relationship are important for both the franchisor and the franchisee at all stages of franchise development. The franchise facility provides franchisees with access to a successful business model and competitive advantages. The franchise package provides the transfer of knowledge and experience necessary to conduct business according to the standards of the franchisor. Royalties are a source of income for the franchisor and stimulate the development of the franchise network, while for the franchisee they represent a fee for access to a successful business model and support for the franchisor.