ANALYZE THE KEY SUCCESS FACTORS CONTRIBUTED TO FRANCHISE BUSINESS GROWTH IN THAILAND

Abstract

This paper aims to study the key success factors contribute to the franchise business growth in Thailand. The research identified the challenges and dangers in the franchising business which acknowledged to the entrepreneurs to be aware of the potential pitfalls and mistakes in a franchising business. The finding also justifies the key success elements that entrepreneurs can use for consideration in their franchise business growth includes strong brand, attractive business model and strong relationship between franchisee and franchisor, service and quality of the staff, product localization, creative food ideas and constant creation. This paper will contribute to the SMEs and future franchisor and franchisees in Thailand to help them to begin and succeed in a franchise business.