The Social Sciences

Year: 2018
Volume: 13
Issue: 4
Page No. 908 - 915

Success Factors of Franchise Entrepreneurs Operating in a Volatile Business Environment: A Case of the Fast Food Industry Harare, Zimbabwe

Authors : Knowledge Shumba and Stanislous Zindiye

Abstract: Franchising plays a pivotal role in sustainable economic development through employment creation, improving the standards of living and increasing the growth of entrepreneurship world-wide. However, the volatile business environment in Zimbabwe has a negative impact on the growth businesses. Some franchise entrepreneurs in Zimbabwe have not allowed the negative business environment to stop them from realising their business goals. The current volatile business environment has pushed them to work harder and bring out their best in order to succeed with their franchise business ventures. The aim of the study was to uncover the success factors of franchising in a volatile business environment in Zimbabwe. Ten qualitative interviews were successfully conducted with franchise entrepreneurs using face to face semi structured interviews as a data collection method. Thematic coding was used to analyse the collected data. The results of the study reveal that franchise entrepreneurs have taken considerable measures to control their operating costs, motivate employees and retain their loyal customers, hence, they have managed to survive in the present volatile business environment. The empirical findings of the study indicate that, some franchise entrepreneurs find it easy to raise capital for their growth and expansion ambitions, incur lower rental charges and easily find convenient places to locate their businesses. This is largely due to the fact that they operate internationally well recognised, managed and invested franchise brands.

How to cite this article:

Knowledge Shumba and Stanislous Zindiye, 2018. Success Factors of Franchise Entrepreneurs Operating in a Volatile Business Environment: A Case of the Fast Food Industry Harare, Zimbabwe. The Social Sciences, 13: 908-915.

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