Development of entrepreneurial networks based on branding and franchising
Abstract. The article investigates the main features of the franchising development in the contemporary economy of Russia. Advantages and disadvantages of this method of doing business are determined. The analysis of theoretical and practical data was carried out in order to identify key trends in the development of franchising in Russian business networks. In addition to franchising, the article examines such an approach to the expansion of entrepreneurial networks as branding, including through the creation of representations of large global companies in different countries. The peculiarities of branding in the practical activity are revealed, conclusions are drawn about its prevalence and frequency of application. In conclusion, a comparative analysis of two methods, their capabilities and impact on the development of business networks on the territory of the Russian Federation is carried out. The importance of the application of branding and franchising in modern conditions of a changing economic environment is assessed. The influence degree of restrictive measures related to the spread of COVID-19 on the stability of business networks has been revealed.
Keywords: franchising, franchise, entrepreneurship, small business, franchising development in Russia, branding
Highlights:
♦ specific features of franchising and branding development in a changing economic environment are considered;
♦ advantages and disadvantages of the franchising and branding mechanisms application in business networks are identified;
♦ current trends in the development of business networks are analyzed under the influence of internal and external factors.
Maria A. Bogatova, Ekaterina S. Smolina, Samara State University of Economics, Samara, Russia