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Don’t Underestimate Comfort and Familiarity

trends-franchiseGreat ideas are recycled every day to tremendously lucrative effect. Just consider the recent success of the Transformers movie sequel. Consumers develop an affinity for certain products once they know what to expect. For them, a level of predictability is actually comforting rather than frustrating; they can walk into the movie theater confident in the fact that they will see some glorious explosions. Fast-food restaurants flourish because of the same principle. McDonald’s patrons in London are ensured the same products as those in Baltimore, more or less. Although a few regional dishes might be available, the menu is meant to appeal to travelers who long for a touch of familiarity. Entrepreneurs can capitalize on similar franchising opportunities by recognizing successful business models and pursuing their profits. The cost of licensing a franchise is often negligible when compared to the potential rewards.

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