ABSTRACTThe main goal of this study was to assess the motivations, prospects and challenges of franchising businesses in the Sunyani municipality, Bono region of Ghana. The case study with emphasis on in-depth interview to collect data from five (5) firms across major business sectors including food and beverages, water, automobile, …
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ABSTRACTThe main goal of this study was to assess the motivations, prospects and challenges of franchising businesses in the Sunyani municipality, Bono region of Ghana. The case study with emphasis on in-depth interview to collect data from five (5) firms across major business sectors including food and beverages, water, automobile, petroleum, and consumer goods operating in the municipality. Ten (10) managers from these five (5) franchising firms were purposively and conveniently sampled to provide answers to the research questions. In analyzing the data, the study used the case by case analysis to find similarities and differences based on the identified themes across the various cases. The study revealed that the brand name, support services, the demand from the market and the franchisor’s experience motivated franchisees. The study revealed that managers and owners of these firms perceived franchise business as good and with high prospects as a result of opportunities presented by the growth of the town due to higher institutions and other businesses. The study revealed that of franchise business is profitable in terms of patronage and sales. The benefits of the franchise business were seen in terms of support services which also are in the form of direct, product, training, marketing, and financial assistance. The challenges facing franchise business include lack of financial assistance from the financial institutions to their business, poor infrastructure impeding the operations of franchise businesses, and lack of business experience and poor management. The study recommends to the government through the Ministry of Finance, Trade and other agencies to institute some form of financial stimulus packages to support such firms, train these firms and provide business consulting.
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