THE BLENHEIM/UNIVERSITY

OF WESTMINSTER
FRANCHISE SURVEY:
Spring 1993

Professor John Stanworth

David Purdy

INTERNATIONAL FRANCHISE RESEARCH CENTRE

SPECIAL STUDIES SERIES NO.1

SEPTEMBER 1993

PUBLISHED BY UNIVERSITY OF WESTMINSTER PRESS

ISBN 1 85919 085 5
THE INTERNATIONAL FRANCHISE International Journal (MCB University
Press). Additionally, Franchise Growth And
RESEARCH CENTRE (IFRC) 1993-2007
Failure In The U.S. And The U.K.: A
University of Westminster, London, UK.
Troubled Dreamworld Revisited received the
Best International Paper Award in 1997,
"The International Franchise Research
again from the Society of Franchising. This
Centre (IFRC) is committed to
paper was later published in Franchising
improving the understanding of
Research: An International Journal.
franchising. This is achieved by the
publication of impartial research and
Close links were fostered with universities in
by the encouragement of informed
Rome and Pisa (Italy), Haute Alsace
debate."
(France) and Boston, Minneapolis and
Texas (USA), with a view to research
Franchising operates in a dynamic environ-
collaboration. Professor Pat Kaufmann of
ment, with new issues and challenges
Atlanta, Georgia, addressed our inaugural
emerging, including: globalisation, coping
annual strategy seminar, in 1994. Overseas
with competition, disclosure, industry
speakers in subsequent years included
regulation, managing relations with
Cheryl Babcock, Director of the Franchising
franchisee associations, franchisee
Institute, University of St. Thomas,
recruitment & market saturation.
Minneapolis (1995), Professor Rajiv Dant,
University of Boston (1996), Professor
Against this backdrop, the IFRC was
Francine Lafontaine, University of Michigan
established in 1993 by Professor John
(1997), Professor Claude Nègre, University
Stanworth (Director of the Future of Work
of Haute Alsace (1997), Colin McCosker,
Research Group at the University of
University of Southern Queensland (1998),
Westminster), supported by Brian Smith (ex-
Professor Frank Hoy, University of Texas at
BFA Chairman, franchisee, franchisor and
El Paso (1998), Professor Jack Nevin,
author), and Chair of its Steering Group.
University of Wisconsin-Madison (1999),
Professor Tom Wotruba, San Diego State
FOUNDER MEMBERS
University (1999), Professor Bruce Walker,
University of Missouri, (2000), and,
Founder members and sponsors included:
Professor Wilke English, University of Mary
Barclays Bank, the British Franchise
Hardin-Baylor (2000).
Association (BFA), Dyno-Rod, Franchise
Development Services Ltd., Lloyds Bank
IFRC members were active supporters of the
(now Lloyds Group), Mail Boxes Etc.,
International Society of Franchising, and
Midland Bank (now HSBC), Prontaprint,
hosted the ISoF 2005 conference in London.
Rosemary Conley Diet & Fitness Clubs,
Royal Bank of Scotland, The Swinton Group,
The IFRC ceased its research activities in
and Wragge & Co.
2007, when John Stanworth took retirement.
PUBLICATIONS
Web versions of IFRC Special Studies
Series Papers 1993-2001 (listed overleaf)
Their support enabled the IFRC to publish a
number of reports, including its Special
Many of the earlier papers have been re-set,
Studies Series Papers, journal articles,
to allow a successful conversion to Acrobat,
book chapters and conference papers.
and are now available online.
Two IFRC papers received three awards
John Stanworth, Emeritus Professor,
over a period of 12 months (1996-97). The
University of Westminster
first being Business Format Franchising:
http://www.westminster.ac.uk/schools/
Innovation & Creativity or Replication &
business
Conformity ?, which received the Best
International Paper Award in 1996, from the
David Purdy, Visiting Fellow,
Society of Franchising. This paper also
Kingston University
received the Outstanding Paper of 1996
http://business.kingston.ac.uk/sbrc
award from Franchising Research: An
December 2010

International Franchise Research Centre Special Studies Series Papers 1-16 Web Versions 2010 p.1
LIABILITY DISCLAIMER
The information and analysis in each report
is offered in good faith. However, neither the
publishers, the project sponsors, nor the
author/s, accept any liability for losses or
damages which could arise for those who
choose to act upon the information or
analysis contained herein.
IFRC Special Studies Papers 1993-2001
10 London: A Capital City For Franchisee
Recruitment, (Mills, Stanworth &
Purdy), 1997
11 The Effectiveness of Franchise
Exhibitions in the United Kingdom,
(Chapman, Mills & Stanworth), 1997
12 Franchising: Breaking Into European
Union Markets, (Stirland, Stanworth,
Purdy & Brodie), 1998

Web versions published online December 13 Succeeding As A Franchisor,

2010, via http://www.scribd.com/:
1 The Blenheim/University of
Westminster Franchise Survey:
Spring 1993, (Stanworth & Purdy),
1993
2 Improving Small Business Survival
Rates via Franchising: The Role of the
Banks in Europe, (Stanworth & Stern),
1993
3 Targeting Potential Franchisees:
Industry Sector Backgrounds and
Declared Areas of Interest, (Purdy &
Stanworth), 1994
(Stanworth & Purdy, published jointly
with Business Link London Central),
1998
14 Direct Selling: Its Location in a
Franchise Typology, (Brodie &
Stanworth), 1999
15 Unravelling the Evidence on
Franchise System Survivability,
(Stanworth, Purdy, English &
Willems), 1999
16 Survey: Professional Services For
Franchising In The U.K., (Stanworth &
Purdy), 2001

4 The Impact of Franchising on the

Development Prospects of Small &
Medium-sized Enterprises (SMEs) in
Europe, (Stanworth & Purdy), 1994

5 The Blenheim/University of
Westminster Franchise Survey: A
Comparison of UK and US Data,
(Stanworth, Kaufmann & Purdy), 1995

6 Developing a Diagnostic
Questionnaire as an Aid to Franchisee
Selection, (Stanworth), 1995

7 Franchising as a Source of
Technology-transfer to Developing
Economies, (Stanworth, Price, Porter,
Swabe & Gold), 1995

8 Aspects of Franchisee Recruitment,

(Macmillan), 1996

9 Business Format Franchising:

Innovation & Creativity or Replication
& Conformity ?, (Stanworth, Price,
Purdy, Zafiris & Gandolfo), 1996

International Franchise Research Centre Special Studies Series Papers 1-16 Web Versions 2010 p.2
WHO BECOMES A FRANCHISEE ? THE SPRING 1993 EXHIBITION SAMPLE

Blenheim Exhibitions and Conferences
Limited, organisers of bi-annual National
Franchise Exhibitions, and the International
Franchise Research Centre at the University
of Westminster, are launching this the first of
a new 6-monthly survey to find out more
about the type of people considering joining
the ranks of Britain's franchisees.
Each year, Blenheim organises two National
Franchise Exhibitions. The first of these, in
the Spring, is held at Olympia (London), and
the second, in the Autumn, at the National
Exhibition Centre (Birmingham). Each attracts
around 10,000 paying guests who complete a
brief registration card questionnaire on entry.
In addition, several hundred undergo a more
in-depth one-to-one interview.
As a result of an agreement between
Blenheim and Professor John Stanworth,
Director of the International Franchise
Research Centre at the University of
Westminster, the scope of the questions
traditionally used is being extended and
additional cross-tabular analysis undertaken
in order to gain, over time, a better
understanding of who becomes a franchisee.
This will, with time, investigate issues such as
age distributions, gender, background,
experience, available capital and sectors of
particular interest, plus what specific features
of the franchise format they consider most
attractive.
The current analysis is based upon nearly 300
usable in-depth one-to-one interviews
conducted by Blenheim staff in consultation
with the University of Westminster. The fact
that an entrance fee in the region was £10 is
levied from all visitors and that Blenheim's
own previous research shows that many
people travel considerable distances to attend
the exhibition, indicates that the act of
attendance is usually not undertaken lightly. In
short, there is currently no better access point
in Britain for research into potential
franchisees.
Given that previous research has shown that
many people considering taking a franchise
are, or have been previously, self-employed,
it was decided for the purposes of this first
survey to focus on this issue and cross-
tabulate this variable with other dependent
variables.
Tables 1-8 and figures 1-8 (below), cross-
tabulate eight issues against current
experience of self-employment, previous
experience of self-employment and absence
of prior experience of self-employment.

This first analysis is based on data collected

at the Spring National Franchise Exhibition,
held at Olympia on 26-28th March, 1993.
Questionnaires used for the Autumn
exhibition at the National Exhibition Centre,
Birmingham, will carry some questions
identical to those used previously in the
Spring as a check for consistency. Thereafter,
new questions will be added in order to build
up a profile of potential franchisees in Britain.
This will be complemented by additional
research on actual franchisees and
franchisors undertaken at the University of
Westminster.

International Franchise Research Centre - Special Studies Series Paper No.1 1

FINDINGS

Employment Profile of Interviewees
Table 1 and Figure 1 show that over half the
sample (53%) were either currently self-
employed (41%) at the time of interview or
had been previously self-employed at some
time in the past (12%).
This shows beyond any reasonable doubt that
experience of independent self-employment
(current or past) is a key variable indicating
those most likely to attend a franchise
exhibition and consider the purchase of a
franchise.

Fig 1 - EMPLOYMENT PROFILE OF INTERVIEWEES

41%

50%
46%

40%

30% Proportion
12%
Currently Self-employed of Sample
20% n = 297

Formerly Self-employed (but not presently)

10%

0%
Never Self-employed

Table 1 Employment Profile of Interviewees (Potential Franchisees)

Currently Self-employed 123 41%

Formerly Self-employed (but not presently) 36 12%
Never Self-employed 138 46%

(Usable reponses: n=297) 297 100%

International Franchise Research Centre - Special Studies Series Paper No.1 2

 Table 2a When did you first become interested in franchising ?
ALL Now S/ Ex S/ Never S/
Emp Emp Emp
Within the last month 34 11 2 21
Between 1 and 6 months ago 90 33 9 48
Between 6 and 12 months ago 50 13 11 26
Over a year ago 123 66 14 43

TOTALS: 297 123 36 138

Table 2b Within the last month 11% 9% 6% 15%

Between 1 and 6 months ago 30% 27% 25% 35%
Between 6 and 12 months ago 17% 11% 31% 19%
Over a year ago 41% 54% 39% 31%

100% 100% 100% 100%

When Did Interviewees First Become
Interested in Franchising ?
Tables 2a and 2b and Figure 2 show that, for
most interviewees, an interest in franchising
had not been developed solely by recent
publicity but had been developed over a
period of time. Forty-one per cent had been
interested in franchising for more than a year
and 58% for more than 6 months. Sixty-five
per cent of the currently self-employed and
70% of the previously self-employed had been
interested for over 6 months, compared with
50% of those never before self-employed.
Fifteen per cent of those never previously
self-employed had become interested only
during the last month, compared with 9% for
the currently self-employed and only 6% on
the previously self-employed.

Fig 2 - FIRST INTEREST IN FRANCHISING: BY EMPLOYMENT STATUS

54%
60%

41% 50%
Proportion
40% of Sample/
30% Sub-sample
(Employment
30%
20% status)
17%
n = 297
10%
Over a year ago
0%
Between 6 and 12 months ago
11%
Between 1 and 6 months ago Never
Ex S/Emp
Within the last month S/Emp
Now
ALL S/Emp

International Franchise Research Centre - Special Studies Series Paper No.1 3

 Table 3a Have you visited a Franchise show before ?
ALL Now S/Emp Ex S/Emp Never S/Emp
Yes 71 36 14 21
No 225 87 22 116
No data 1 1

TOTALS: 297 123 36 138

Table 3b Yes 24% 29% 39% 15%

No 76% 71% 61% 84%
No data 0% - - 1%

100% 100% 100% 100%

In summary, those with current or previous
experience of self-employment had been
interested in franchising for noticeably longer
than those without such experience.
Had Interviewees Attended a Franchise
Exhibition Before ?
Tables 3a and 3b and Figure 3 indicate that
practically one-in-four of respondents had in
fact attended a previous franchise exhibition,
almost invariably a Blenheim exhibition held in
the previous 12 months. However, there was
considerable variety here with 39% of those
with previous self-employment experience
having attended such an exhibition compared
with 29% of those with current self-
employment experience and only 15% of
those with no experience of self-employment
at all.

Fig 3 - ATTENDANCE AT A FRANCHISE EXHIBITION BEFORE: BY EMPLOYMENT

STATUS

100%

80%
Proportion
76% of Sample/
60%
Sub-sample
40% (Employment
status)
20% n = 297

0%
24%
No Never
Ex S/Emp S/Emp
Yes
Now S/Emp
ALL

International Franchise Research Centre - Special Studies Series Paper No.1 4

 Table 4a What is your primary reason for visiting this show ?
ALL Now S/ Ex S/ Never S/
Emp Emp Emp
Obtain general information 241 101 24 116
Compare a number of companies 32 13 8 11
Get information from specialist advisors 13 3 3 7
See a specific company 10 5 1 4
No data 1 1

TOTALS: 297 123 36 138

Table 4b Obtain general information 81% 82% 67% 84%

Compare a number of companies 11% 11% 22% 8%
Get information from specialist advisors 4% 2% 8% 5%
See a specific company 3% 4% 3% 3%

100% 99% 100% 100%

Primary Reason for Visiting the Franchise
Exhibition
Tables 4a and 4b and Figure 4 indicate
respondents main reasons for attending the
franchise exhibition. Whilst the principal
response from all the 3 groups was to 'obtain
general information', the second strongest
response, to 'compare a number of
companies', was stronger for the previously
self-employed group than for the other 2
groups. This appeared to tie in with their
greater likelihood of having attended a
previous exhibition and thus being more
certain of their field of interest.

Fig 4 - PRIMARY REASON FOR VISITING EXHIBITION: BY EMPLOYMENT

STATUS

81% 90%
80%
70%
Proportion
60% of Sample/
50% Sub-sample
40% (Employment
30% status)
20% n = 297
Obtain general information 11% 10%
0%
Compare a number of companies
4%
Get information from specialist advisors Never
3% Ex S/Emp
See a specific company S/Emp
Now
ALL S/Emp

International Franchise Research Centre - Special Studies Series Paper No.1 5

 Table 5a How likely are you to buy a franchise ?
ALL Now S/ Ex S/ Never
Emp Emp S/Emp
Definitely 11 7 2 2
Very likely 51 22 9 20
Likely 104 46 11 47
Undecided 122 44 13 65
Unlikely 9 4 1 4

TOTALS: 297 123 36 138

Table 5b Definitely 4% 6% 6% 1%
Very likely 17% 18% 25% 14%
Likely 35% 37% 31% 34%
Undecided 41% 36% 36% 47%
Unlikely 3% 3% 3% 3%

100% 100% 100% 100%

How Likely Were Interviewees to Buy a
Franchise ?
Tables 5a and 5b and Figure 5 indicate how
the proportions of our 3 sub-samples
allocated themselves to a range of degrees of
certainty that they would actually go ahead
and buy a franchise. The response categories
ranged from 'definitely' through to 'unlikely'.
Overall, 4% considered a purchase 'definite'
and a further 17% 'very likely'. Thirty-one per
cent of those with previous self-employment
experience put themselves in one of these
two categories compared with 24% of those
currently self-employed and only 15% of those
with no experience of self-employment.

Fig 5 - LIKELIHOOD OF BUYING A FRANCHISE: BY EMPLOYMENT STATUS

47%

50%
41%
40%
35% Proportion
30% of Sample/
25% Sub-sample
20% (Employment
3% status)
Unlikely 17% n = 297
10%
Undecided
0%
Likely
Very likely 4% Never
Ex S/Emp
Definitely
Now S/Emp
ALL S/Emp

International Franchise Research Centre - Special Studies Series Paper No.1 6

 Table 6a What, for you, is the MAIN appeal of
franchising ? (RANKED)
ALL Now S/ Ex S/ Never S/
Emp Emp Emp
A proven business system 98 46 10 42
Independence/chance to be your own boss 90 19 11 60
A known trade name 35 18 5 12
Good long-term investment 21 10 5 6
Reduced risk 17 8 2 7
Good income 16 9 2 5
On-going support 13 7 6
Few alternatives available 4 3 1
No data 2 2
Help with funding 1 1

TOTALS: 297 123 36 138

Table 6b A proven business system 33% 37% 28% 30%

Independence/chance to be your own boss 30% 15% 31% 43%
A known trade name 12% 15% 14% 9%
Good long-term investment 7% 8% 14% 4%
Reduced risk 6% 7% 6% 5%
Good income 5% 7% 6% 4%
On-going support 4% 6% - 4%
Few alternatives available 1% 2% 3% -
No data 1% 2% - -
Help with funding 0% 1% - -

100% 100% 100% 100%

What Was the MAIN Appeal of Franchising to The differences in the option selections made
Interviewees? by our 3 main sub-groups were substantial.
Those currently self-employed opted strongly
Interviewees were presented with a list of 9 for the economic security of a 'proven
main reasons why people say they might want business system' whilst those never
to buy a franchise and asked to indicate which previously self-employed opted strongly for
was the most important to them (in a 'independence'. Those who had been
subsequent questionnaire in 1994, it might be previously self-employed but were currently
desirable to ask respondents to rank say their back in the wider labour market were very
3 most important in order). much in the middle, opting for these 2 factors
almost equally.
Very distinct differences appeared here, as
can be seen from Tables 6a and 6b and
Figure 6 (overleaf). Nine different options
were offered to interviewees and all were
selected by one or more respondents.
However, the least popular 6 of the 9 options
were each selected by less than 10% of
respondents and nearly two-thirds (63%)
selected one of the two remaining options: 'A
Proven Business System' or 'Independence/
Chance To Be Your Own Boss'.

International Franchise Research Centre - Special Studies Series Paper No.1 7

 Fig 6 - MAIN APPEAL OF FRANCHISING: BY EMPLOYMENT STATUS

43%

37% 30%
33% 28% 45%
31%
40%
30% 35% Proportion
30% of Sample/
15% 25% Sub-sample
20% (Employment
15% status)
A proven business system 12%
10% n = 297
Independence/chance to be your own boss 5%
7% 0%
A known trade name
Good long-term investment 6% Never
Ex S/Emp
Reduced risk
Now S/Emp
ALL S/Emp

Table 7a What is the maximum capital available for investment in a

franchise, including any loans ?
ALL Now S/ Ex S/ Never S/
Emp Emp Emp
Under £10,000 35 14 6 15
£11,000 - £20,000 59 19 5 35
£21,000 - £30,000 31 8 8 15
£31,000 - £40,000 32 15 3 14
£41,000 - £50,000 39 19 2 18
£51,000 - £60,000 19 8 4 7
£61,000 - £100,000 30 13 4 13
Over £100,000 38 21 3 14
No data 14 6 1 7

TOTALS: 297 123 36 138

Table 7b Under £10,000 12% 11% 17% 11%

£11,000 - £20,000 20% 15% 14% 25%
£21,000 - £30,000 10% 7% 22% 11%
£31,000 - £40,000 11% 12% 8% 10%
£41,000 - £50,000 13% 15% 6% 13%
£51,000 - £60,000 6% 7% 11% 5%
£61,000 - £100,000 10% 11% 11% 9%
Over £100,000 13% 17% 8% 10%
No data 5% 5% 3% 5%

100% 100% 100% 100%

International Franchise Research Centre - Special Studies Series Paper No.1 8

 Fig 7 - FINANCE AVAILABLE FOR INVESTMENT: BY EMPLOYMENT STATUS

25%

22%
20% 30%

11% 25%
12%
Proportion
20%
10% of Sample/
11%13% Sub-sample
15%
Under £10,000 17% (Employment
£11,000 - £20,000
10% status)
£21,000 - £30,000 n = 297
6% 10% 13%
£31,000 - £40,000 5%
£41,000 - £50,000
£51,000 - £60,000
0%

£61,000 - £100,000 Never

Over £100,000 Ex S/Emp
Now S/Emp
ALL S/Emp

The Maximum Capital Available for Investment
in a Franchise, Including Any Loans
Tables 7a and 7b and Figure 7 indicate the
capital sums that respondents felt able to
invest in a franchise, including loans.
Three observations emerge here. First, that
those who had never before been self-
employed were the least well positioned to
invest in a franchise with 70% able to invest
only £50,000 or less, and 47% able to invest
£30,000 or less. Twenty-four per cent had
£51,000 or more to invest.
Turning to those previously self-employed,
53% fell below the £30,000 level but 30% fell
into the higher (£51,000 and over) bands with
relatively few (14%) in the middle bands
(£31,000 - £50,000). This distinctly bi-modal
distribution could indicate the existence of two
fairly distinct populations here which will be
investigated using data from future
exhibitions.

Looking at respondents currently self-

employed, only 33% fell below the £30,000
level. There was a relatively strong showing
the middle bands (£31,000 - £50,000) of 27%
and the higher bands (£51,000 - £100,000
and over) of 35%.

International Franchise Research Centre - Special Studies Series Paper No.1 9

 Table 8a Will some of the money available be
borrowed ?
ALL Now S/ Ex S/ Never S/
Emp Emp Emp
Yes 187 77 23 87
No 99 41 12 46
No data 11 5 1 5

TOTALS: 297 123 36 138

Table 8b Yes 63% 63% 64% 63%

No 33% 33% 33% 33%
No data 4% 4% 3% 4%

100% 100% 100% 100%

Will Some of the Investment Money Required
to Buy a Franchise be Borrowed ?
Tables 8a and 8b and Figure 8 indicate the
proportions of interviews who felt they would
be likely to borrow money if they were to
purchase a franchise.
As can be seen, the figures are amazingly
consistent with 63/64% in each group
indicating that they would expect to raise
outside money. Future questionnaires could
be used to indicate ratios of loan to own
capital involved here.

Fig 8 - INTERVIEWEES PROPOSING TO USE BORROWED MONEY: BY

EMPLOYMENT STATUS

70%
60%
63% Proportion
50%
of Sample/
40% Sub-sample
30% (Employment
20% status)
n = 297
33% 10%
0%

Yes Never
Ex S/Emp S/Emp
No
Now S/Emp
ALL

International Franchise Research Centre - Special Studies Series Paper No.1 10

CONCLUSIONS
The main conclusions to be drawn from this
survey to date are:
■ Over half of the attendees at the twice-
yearly National Franchise Exhibitions are
already self-employed or have been so at
some time in the past.
process of goal replacement, as earlier
goals become partially or fully realised, will
continue throughout the economic lifespan
of actual franchisees and this current
survey research on potential franchisees
can operate as a bedrock for that
subsequent research.

■ Most of the attendees had been

considering taking a franchise for some
considerable time with one-in-four having
attended a previous such exhibition.

■ The sharpest levels of interest in buying a

franchise emerged amongst those who
had previously had their own businesses
but were currently located back in the
wider labour market. It appears that they
were keen to return to self-employment but
in a more secure form than a totally
independent conventional business.

■ Amongst those with no previous

experience of self-employment, the main
attraction of franchising was
'independence'. This accords with a whole
host of previous research into conventional
small business start-ups, indicating that
buying a franchise and starting a
conventional small business are acts
governed by the same decision-making
process.

■ For those already self-employed, the main

attraction of franchising was its ability to
provide access to a 'proven business
system'. Future questionnaires may
indicate how small or large their current
businesses are but most small businesses
in Britain are one-person enterprises
without employees and, as such, have
usually only very modest growth prospects
and yield only modest economic returns.
Franchising is obviously seen by our
respondents here as a possible route
forward into growth, profits and lifestyle.

■ Overall, a model of franchisee motivation

is becoming established. The most basic
motivational influence appears to be the
drive for 'independence'. Once that is
established, goals of a more economic
nature assume primacy. It is likely that this

International Franchise Research Centre - Special Studies Series Paper No.1 11

AUTHORS
John Stanworth is the director of the
International Franchise Research Centre
and has been engaged in research into
franchising since the mid-1970s. He also
leads the Future of Work Research Group,
based at the University of Westminster, which
has a record of specialist research in
Teleworking, Small Business Development
and Human Resource Management. Studies
have been undertaken for many clients,
including The Department of Trade &
Industry, The Department for Education and
The Economic & Social Research Council.
David Purdy is a researcher supporting the
Future of Work Research Group. He has
specialised in small business research since
1985, and publications include authorship of
'Risk Capital for Small Firms', commissioned
by the Small Business Research Trust. He
has also co-authored studies investigating
Small Business Management Development
and Teleworking.
The authors wish to express their gratitude to
Blenheim Group plc, London, for granting
permission to publish the survey findings.
International Franchise Research Centre - Special Studies Series Paper No.1
INTERNATIONAL FRANCHISE RESEARCH CENTRE
The International Franchise Research Centre
(I.F.R.C.) is committed to improving the
understanding of franchising. This is achieved
by the publication of impartial research and by
the encouragement of informed debate.
Membership is suitable for anyone with an
interest in franchising and further details are
available from the address on the rear cover.
SPECIAL STUDIES SERIES
Papers in the Special Studies Series are
supplied free of charge to I.F.R.C. members
and are published a minimum of four times a
year. They report upon a range of issues
which are felt to be of interest to the
franchising community. Subject matter
includes the findings of surveys of franchisors,
franchisees, and potential franchisees, and
also special interest matters, such as finance
for franchising.
12