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Want Franchise With That?

No discourse on entrepreneurship past, present or future is complete without mentioning one of the most successful growth strategies going.

This story appears in the May 2002 issue of Entrepreneur. Subscribe »

Today, franchising's power is pretty hard to ignore. Fillingstrip malls and plazas, spreading over borders and oceans,franchising is making its way into every corner of the world and isservicing many needs in our lives. In the United States alone,nearly $1 trillion a year in sales are rung up at franchisedoutlets.

But only 25 years ago, franchising's place in the world wasa lot less certain. While many of today's big players, likeMcDonald's and Holiday Inn, were enjoying franchising successback then, the franchising industry was still suffering from a badreputation, dogged by lawsuits and horror stories aboutget-rich-quick schemes and fraudulent business opportunities.

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