How can franchisors balance standardization with innovation?
Franchising is a popular business model that allows entrepreneurs to replicate a successful brand and concept across different locations. However, franchising also poses some challenges for both franchisors and franchisees, especially when it comes to balancing standardization with innovation. Standardization ensures consistency, quality, and efficiency, while innovation fosters differentiation, adaptation, and growth. How can franchisors strike the right balance between these two forces? Here are some tips and best practices for managing franchise innovation and growth.
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Carlos Daniel Castro SoriaDirección Internacional de Franquicias, Restaurantes, Retail & Entretenimiento | Empresario en la Industria de…
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Prakhar SrivastavaTurning coffee into strategy, and confusion into curiosity. The only predictable thing? My unpredictability.
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RAMESHCHANDRAN VADALISeasoned Professional with a mastery in Internal Auditing, Risk Management, and Compliance Control | Consultant for…