Comparative analysis of the development of franchising in Serbia and worldwide

Abstract

The research of franchising as a business model is of great importance for the further development of this concept. At the global level, there is a constant tendency of development of existing and new franchise systems. This area is still unexplored in Serbia. The aim of the paper is to point out the importance of franchising on the global level and the need for more intensive development in Serbia, based on a comparative analysis of development of this concept in Serbia and worldwide. The paper presents the development of franchising as a business concept in the modern economy, with special focus on fundamental characteristics, advantages and disadvantages of franchising systems. Analysis of the franchise worldwide and in Serbia indicates that franchising is still insufficiently regulated by the law in Serbia. For the purpose of comparative analysis of the best known franchise systems in the developed market economies and Serbia, we start from the representative examples of franchise concepts in the United States, Great Britain and Serbia. The paper indicates that a small number of domestic franchise is internationalized, based on a review of selected franchise systems and the presence of foreign franchises in Serbia and Serbian franchise all over the world.

Keywords

• franchise
• comparative analysis
• legal regulation
• internationalization