|Sin, Federick Wai-hung
|Critical success/failure factors : their identification & application in respect of local retail chain store franchise in Hong Kong
|Franchises (Retail trade) -- China -- Hong Kong
Chain stores -- China -- Hong Kong
Hong Kong Polytechnic -- Dissertations
|Department of Management
|vii, 88, 113 leaves ; 30 cm
|Despite of its great popularity in the well developed countries, franchising is not common in Hong Kong. Currently H.K. has 55 franchises, of which 40 are engaged in retail. Most (75%) of these running scheme are imported. With the aim to improve the understanding of retail chain store franchising in Hong Kong, the author conducted interviews with managements of retail chain stores in six different industries. They are video rental, fashion clothing, convenient store, fast food, photofinishing and optical shops. The Retail Management Association and the Hong Kong Franchise Association have also given their views on the future of franchising. Several factors has been identified that hindered franchise's popularity. These includes lack of quality local brands, small local geographic area, high shop rental, retail price inflexibility, concept too new, ample financial alternative and Hong Kong people too want to be a "real entrepreneur" that affect uniformity. The study also identified several successful factors of which some are particular critical. To run a successful franchise, the industry must have long product life cycle. The franchisor should have something unique to offer, taking a long term view and believe in mutual benefit. The system is so designed that franchisee are totally independent. Throughout the whole exercise, the franchisor should remain dominant control and has strong leadership to lead all people working for the same goal. The study is meaningful in this early stage of development. Consolidated views show the future of franchising is bright. Manufacturing is moving towards China and Hong Kong is becoming a service center. The opening up of the retail market in China is providing ample opportunities for the local chain store operators. But to be successful in China, the retailers must first be successful in Hong Kong.
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