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Securities & Retail Franchisng history
Securities & Retail Franchisng company history timeline
The first franchises can be traced back to the Middle Ages (circa 476 CE – pre-Renaissance 14th century.) Although not quite the franchise business models of the 1800’s, these are the first franchises in recorded history.
In 1851, Isaac Singer became the first American product name franchisor when he began to sell to traveling independent salesmen the rights to sell his sewing machines to end users.
– In 1898, General Motors sold their first auto manufacturing franchise in Detroit Michigan.
– With the soft drink industry born from mass manufacturing, the first Coca-Cola bottling plant was franchised in 1901.
Perhaps the earliest retail franchisor is Ben Franklin stores, which started in 1920 and began to franchise around that time.
An early pioneer in service franchising was Arthur Murray® Dance Studios, which got its start in 1938.
– After pairing inventive soft serve ice cream and family atmosphere, Dairy Queen offered franchise opportunities in 1940.
– In 1952, Richard and Maurice McDonald franchised their second restaurant location.
In 1954, Ray Kroc began licensing the rights toMcDonald’s locations outside their home territory.
The Federal Trade Commission (FTC) initiated its first franchise fraud investigations in 1975.
In 2015, median average revenues generated by franchised units were $710,726, with over 50% of the brands generating more than the median topline revenues.
What does the world of Franchising look like in 2018? The food service industry is still one of the most successful and profitable businesses for a franchisee.
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