Gresham Harkless introduces the franchising concept, exploring its potential as a business model.
He covers the history of franchising, noting its origins in the Middle Ages and its evolution into a formal business model in the 19th century with Isaac Singer's sewing machines.
Gresham highlights the "golden age" of franchising in the 1950s with the success stories of McDonald's and Dunkin' Donuts.
Gresham emphasizes that franchising offers a structured business system that includes branding, operations, and marketing, which can be advantageous for individuals seeking a proven model rather than starting from scratch.
Gresham explains impressive statistics about franchising's success rates compared to independent startups and the trade-offs.
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