Franchising has proved, over the years, to be one of the most successful ways of
conducting business. Like most parts of the world, quite a number of Nigerian
businesses are exploring this upswing. With the growing presence of epicurean giants
such as Coca-Cola (U.S.), Dominoes (U.S.), Johnny Rockets (U.S.), Kentucky
Fried Chicken – KFC (U.S.), Krispy Kreme (U.S.), Pizza Hut (U.S.), The UPS
Store (U.S.), Mr Price (South Africa), SPAR (South Africa), Ocean’s Basket
(South Africa) and Shoprite (South Africa) in Nigeria, coupled with the recent entry
of Burger King, a top U.S. restaurant brand, into the Nigerian food and
confectionaries space in April 2021, franchise operation in Nigeria is propelling to
the upside.
As flourishing as the franchising industry seems, certain underlying
matters and challenges becloud its future. The kernel of this paper is premised on the
scope of Franchising in Nigeria, while laying emphasis on matters such as the lacuna
created by the dearth of legal framework on the subject, other extant challenges and
the prospects which the industry offers notwithstanding.