Macro-Economic

Report
2021

Prepared by: Brandon, Sazain, Maaz, Simrah, Wasay

1
TABLE OF CONTENTS
Acknowledgment……………………………………………..…………3
Introduction…………………………………………………………...…4
Franchising……………………………………………………..….4
Global Economy .............................................................................5
Franchises drive Economic growth………………………………..5
Importance of Global Economy……………………….…………..5
Advantages of Franchising................................................................…...6
Disadvantages of Franchising………………………..……………….…7
Aggregate Demand of Labor…………………………….……………...7
Aggregate Supply of Labor ……………………………….....……...….8
Economic Growth .............................................................................…...9
Phases of Economic Growth…………………….….……………10
Importance of Economic Growth……………….…………….….10
Consumption and Saving ……………………………………………...11
Impact of Franchising on Local Economy ………………………….…12
Impact of Franchising on National Economy………………….………13
Governance Implications…………………………………….…...……13
S.W.O.T analysis of Franchising ………………………………….…..15
Research and Real life application……………………………………..16
References……………………………………………………………...18

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ACKNOWLEDGEMENT
We have made efforts in this project. However, it would not have been possible without the kind
support and help of many individuals.

We would like to express our gratitude towards Ma’am Hira Mujahid for her kind co-operation
and encouragement which helped us in completion of this project and we respect our teacher for
giving us such an opportunity to do this project.

Regards,
Brandon D’Souza 20201-27311
Simrah Rizwan 20201-28599
Sazain Zahid 20201-28454
Syed Abdul Wasay Ali 20201-28767
Muhammad Maaz Khan 20201-27315

3
 Role of Franchising in Global Economy

described time span (a couple of uncommon

cases do exist).
Introduction
What is franchising?
Diversifying is a kind of advancing and flow
There are two unmistakable sorts of
in which the owner of a business system (the
diversifying associations. Business Format
franchisor) grants to an individual or get-
Franchising is the sort commonly
together of individuals (the franchisee) the
unmistakable. In a business configuration
alternative to keep a business selling a thing
establishment, the franchisor provides for the
or offering a help using the franchisor's
franchisee its brand name, things and
business structure.
organizations, yet an entire system for
working the business. The franchisee
generally gets site assurance and progression
Franchisees are furthermore permitted to use
support, working manuals, getting ready,
the franchisor's stamping, hold, and
brand standards, quality control, an
perceiving marks under decided guidelines. It
advancing procedure and business cautioning
is critical for anyone deciding to start a
help from the franchisor. While less
business by transforming into a noteworthy
identified with differentiating, standard or
franchisee that in differentiating the
thing course expanding is greater in complete
franchisee is bound to an association
arrangements than business configuration
simultaneousness with the franchisor for a
broadening. Cases of customary or thing

4
scattering expanding can be found in the
bundling, fuel, vehicle and other collecting
endeavors.
What is a global economy?
The worldwide economy implies the
interconnected by and large monetary
activities that occur between different
countries. These monetary activities can
conversely influence the countries being
referred to.
The worldwide economy has changed
through and through throughout ongoing
numerous years, by they way it is facilitated
and addressed by cooperating nations. These
developments have repercussions that not
just effect the development of item and
undertakings between nations, yet
additionally the progression of individuals.
positions being made longer for every area
opened.
Successful brands help arrange the cards for
progress by offering significant regulatory
and promoting support for singular areas.
Accomplishment for the brands implies
accomplishment for the general economy,
driving a prudent pattern of development.
The financial effect of diversifying goes past
exercises inside diversified organizations, on
the grounds that their acquisition of items and
administrations and the individual acquisition
of their proprietors and laborers add to the
development of non-diversified
organizations.

Franchises drive Economic growth

Successful franchise brands can develop new
areas at a quicker rate than different kinds of
independent ventures. Individual franchise
areas make occupations, and establishment
networks multiply the positions they make by
recreating in more business sectors — or
regularly in more areas in a solitary market if
request permits. The more they succeed, the
more noteworthy the multiplier.

It's likewise a matter of life span. As per the

Small Business Administration (SBA),
50% of new organizations fall flat during the
initial five years. Establishments can offer Why is the global economy important?
more noteworthy manageability than non- We can comprehend the significance of the
diversified organizations. Establishments are worldwide economy by taking a gander at it
substantially more liable to be working according to developing business sectors:
following five years. This implies more

5
1) Economic importance at a micro and
macro level:
The expansion in the total populace has
provoked creating business areas growing
fiscally, making them one of the
fundamental engines of world financial turn
of events. The turn of events and
adaptability showed up by creating business
areas is a good sign for the world economy.
Unquestionably the greatest firms with high
market regard a few the most lavish
individuals on earth hail from these creating
business areas, which has helped in the
higher movement of pay in these countries.
2) Long-term world economic outlook:
As indicated by monetary and financial
projections dependent on segment patterns
and capital profitability models, the GDP in
developing business sector economies in
2019 are probably going to continue to
increment at a positive rate. As indicated by
a developing business sectors monetary
gauge for 2019 led by Focus Economics, the
economy is set to increment by 7.5% in India,
6.6% in Philippines, 6.3% in China, 5.3% in
Indonesia, 5.1% in Egypt, 4.9% in Malaysia,
3.8% in Peru and 3.7% in Morocco.
6
Advantages of franchising
Expand the company - Franchise system
can become a cost-effective way to grow a
business. The costs of new facilities or
employees will not lie with them. Increased
revenue results in more profit, and if they
keep this in the company long enough, they
should be able to sell it in the future.
Costs - Each franchise owner is responsible
for funding their own franchise location.
They earn franchise fees, dividends, or a
mark-up on goods sold by the franchisee as
the franchisee covers all expenses and
receives the profits.
Develop the brand - The greater the number
of franchise owners someone have, the more
well-known their brand becomes. The
franchisee's financial investment benefits the
brand.
Purchasing power - A larger company is far
more stable, and increased revenue and profit
will lead to greater offers on office supplies,
cars, and other company expenditures.
More efficient management - Franchise
owners often operate their own businesses,
reducing the amount of administrative work
required. The best franchisees will be
extremely motivated and knowledgeable
about the region, which will make your life
much easier.
Ideas for future success - Franchise owners
will contribute new ideas for the brand's
potential growth, possibly highlighting
possibilities that they would not have seen
otherwise.
Other's assistance - A franchise program
can provide guidance and support because
becoming a business owner is sometimes
isolated.
Disadvantages of franchising
Suppliers cannot be changed - All
companies like to work with manufacturers
and suppliers on their own convenience, but
a new franchise must deal with others who
have a contract with the parent company in a
franchise model.
Not a fix for a failing business - When a
company is in trouble, franchising is not a
viable option for obtaining capital from
several other sources. A person can only
consider franchising if they already have a
profitable company.
Costs - Franchising your company would
necessitate a substantial initial capital
investment to establish a viable business
structure for potential infrastructure
development, including official
documentation, operations manuals,
marketing materials, and recruitment.
Franchise model will require a significant
investment in time, particularly when the
franchise model is first established. People
7
will also need to invest time in attracting the
right franchisees and controlling what they
do.
Sharing of information - All the relevant
outlets are actively helping to spread the
information. The parent company begins this
process by sharing pertinent information with
other franchises and instructing other outlets
to do the same. There is a risk of a leak, and
your rivals will gain access and learn about it.
Information sharing carries the risk of third-
party disclosure, which is a significant
disadvantage of franchising.
Time - Franchising would necessitate a
considerable time commitment, especially
when first developing the franchise model.
They will still need to devote time to
recruiting the right franchise owners and
retaining control over their operations.
A ruined credibility - The franchise owner
has quite a long history in the industry and
has developed a brand image and reputation
that is respected by others. If a newcomer
begins to cut corners, the brand's reputation
will be jeopardized because the goods and
services will be substandard. Because of the
fault of a single franchise, the brand's name
and reputation will suffer.
Aggregate demand of Labor
The way franchise effects the employment
aspect of an economy or a country is
interesting. The franchising business
provides many opportunities to the labor
force of a country to start working. It
influences the labor force in several ways.
First of all there are ones who show vested
interest in providing service also known as a
franchisee of your business, then there are the
ones who work for those franchisee making Beneficial Supply Shock:
sure to that the operations of the company run
Where in one way the demand of labor falls,
smoothly. An increase in franchise business
franchising also raises the demand of labor.
has 2 effects on employment. In a nutshell it
From the establishment of franchise business
increases the demand of labor but on a
in the home country, the franchiser needs
controversial side it also decreases their
labor-creating employment for the people
demand.
hence shifting the MPN curve to the right and
Adverse Supply Shock: upwards. This is also an example of
beneficial supply shock on the labor market.
A change in nominal wage due to the less
productivity of the home country’s brands
against the already established high
competition of the franchise, causes the home
country’s brand to lower its employment to
compromise with the less revenue being
earned. The consumers are attracted towards
a foreign reputable brand and less to its own
home country’s brands. Hence driving them
to shift their interest to the franchiser and
enabling them to generate higher profits as
compared to the local brands of the country.
Aggregate supply of Labor
Since the firms of the home county would be
Due to inflation, the wages that the franchisee
earning less they would tend to lower their
offers to its labor is typically higher that what
demand of labor, therefore creating an
is being offered by the local business, which
adverse supply shock on the economy. This
also attracts the labor and instigates two
will enable the MPN curve to shift to the left
effects known as income effect and
and downwards.
substitution effect

Substitution effect:
In the Substitution effect the labor supply is
higher since he aims at earning more wage
and focuses less on leisure activities

Income effect:
In the Income effect the labor supply is lower,
since the labor is earning more from the raise
in Real wage, he becomes wealthier and
when he becomes wealthy he spends more
time on leisure activities and supply less to
the labor force
8
The supply of Labor will shift to the right for
the franchisee since the participation rate of
every labor would raise in order to earn a
higher wage rate by working for the
franchisee.
Franchising affect economic growth:
Franchise businesses bring growth in city,
state and on national level. Their contribution
in creating jobs is in every economy. On a
local level, franchises provide opportunity to
the labor force to work in different areas.
Franchises help the economy to generate a
handful amount of revenue at different levels.
For example, there are 733,000 franchises in
the U.S.A and they directly generate 7.6
million jobs. Franchises directly account for
13.3 million in GDP.
What is Economic Growth?
An upsurge in the production of economic
goods and services, equated from one period
of time to another in called Economic growth.
Usually, aggregate economic growth is
measured in GNP and GDP terms. It can be
measured in both nominal and real terms.
9
Understanding the Economic
Growth:
Simply, Economic Growth is an increase in
aggregate production in the economy.
Usually, but not essentially, An Increased
average marginal productivity correlates with
aggregate gain in productivity. Which means
a better income, which will encourage buyers
to spend more. Hence, the quality and
standard of life gets better.
In macroeconomics, the growth generally
exhibits as a function of human, physical,
labor and technology capital. Things that will
lead to an increase in economic growth are
increase in quantity or quality of the working
age population, methods of combining labor,
raw material and capital and the tools they
have.
Small business also increases the Economic
Growth. Business generates profit that helps
the stock prices to rise. This gives companies
more capital which encourages them to hire
more employees. Income rises as more jobs
are produced. Additional products and
services can be bought by the money.
Purchases drive higher economic growth.
Due to these reasons, every country wants
positive economic growth. Hence, the
economic growth is the most-watched
economic standard.
Phases of Economic Growth:
The economic growth rate:
Percentage change in real gross domestic
product from one year to the previous one.
Formula to determine the rate is:

Economists try to grab the data of growth to

understand in which phase the economy is of
the business cycle. Expansion is considered
as the best phase. This phase is when the
economy is growing at a maintainable rate.
But if the growing rate is way ahead of a Importance of Economic Growth:
healthy rate, it overheats. That creates an
assets bubble. This is the peak phase in the It leads to an increase in the incomes of
business cycle. workers and firms. It helps the government to
generate more taxes that will be spent on the
At some point, when people continue to sell public. It helps the government to reduce its
more than buying, confidence dispels in the debts. Economic growth helps the
economy, the economy contracts. When this government to lower the unemployment rate
phase goes along, it's a recession. These which will help to reduce absolute poverty.
recessions of the economy's depression last
for a decade. This happened only during the
Great Depression of 1929.
Following chart shows the different phases of
American economy from 2005 till 2018.

Economic growth effects on

The growth of American economy was
because of their factors of production and
technological advancements.
Incomes:
Income is the amount of money that is earned
by an individual. Further on total income gets
divided into two components according to the
desire. Those two components are
Consumption and saving. In economics, it is
shown as Y = C + S.

10
As the result of economic growth in an
economy, individuals will be receiving
higher wages. As of the result, their
consumption and saving decisions will be
affected.
Their expenses will rise and they will be
spending much more money than they were
previously. Also, due to the higher income
they will be having a greater amount of
money left then previously after their
consumption.
Consumption and Saving:
The term consumption denotes the spending
of money or assets. While, the saving
represents the preservation of money or
assets. By nature, both of these terms are
completely opposite. It is a natural
phenomenon that we try to spend our present
income to meet current expenses. If there is
something that remains from the income, it is
saving.
Theory of Consumption:
Consumption can be defined as the final
purchase of good and service. We can also
refer to it as the consumer spending.
Consumption is considered as the biggest
factor for the economy because it measures
the economic growth of a country. A business
won’t stay long in an economy where the
consumption is low.
11
States Affecting Consumption:
There are such things that economists think
affect the consumption.
1. Price: Consumption will go high if
the prices go down.
2. Income: Income= Consumption +
saving, so if the income of individuals
rises, the consumption will rise.
3. Taxes: Government can earn more by
taxes because the public is willing to
pay more.
4. Saving: If people are more future
orientated, they will save more hence
the consumption will fall.
Concept of Saving:
For some it may be money deposited in the
bank, to some it might be investment in share
but to economists it is the reserving of the
resources in present for future consumption.
It is the most important factor in the long-
term economy.
Types of saving:
1. Personal Saving: When an
individual tries to consume less in
order to save from his current income.
These savings are saved in banks or
invested in shares, bonds or real
estate.
2. National Saving: When we add up
our personal saving, business saving
and public saving it is considered as
National saving. Business saving can
be measured by corporate saving.
Public savings are just simply taxes.
Impact of franchising on Local
Economies
Taxes paid by Franchises support the local
networks. Those assets go to help
universities, crisis administrations, and street
fixes. Franchises creates occupations and
grow to new areas a ton of rapidly than other
organizations. The franchises work with the
local state rates by giving jobs to many
people.

Franchises incidentally support numerous

Numerous Franchises engage in their
networks by assisting non-profit associations
and schools. Numerous Franchises can be
important for provincial business affiliations,
support local sports groups, volunteer staff
time, or contribute to charitable associations.
Consequently, the public is probably to
belittle their business keeping the capital
inside the local area.
positions and organizations. Through their
regular requesting of provisions or the
utilization of neighborhood benefits, the
franchises is returning cash to the local area
and supporting the nearby economy. 90% of
franchises created pay stays locally. 72% of
electors accept private ventures are bound to
reward their local area versus huge
partnerships. Franchises offer numerous
advantages to their representatives that
stretch out into the local area. Hands on
preparing enables individuals to acquire new
abilities and exchanges with or without post-
auxiliary instruction. Therefore, the
neighborhood economy acquires gifted and
semi-talented specialists that procure a pay.

12

Impact of franchising on the
National Economy
According to the International Franchise
association’s made yearly report enumerating
the most current industry insights. Franchises
make a monetary yield of $1.6 trillion and
record for 5.8% of the U.S. Gross domestic
product. 73% of electors accept that
franchises support the public economy. In an
indirect way, franchises produce $929.9
billion in GDP. Non-diversified
organizations develop due to the acquisition
of franchises and the buys made by the
proprietors and laborers. That cash goes
directly once more into the economy as a
recession fighter.
Governance Implications
13
Franchising gives many extraordinary
hurdles and prerequisites to the governance
work, when compared with many different
kinds of association. Chiefs and the heads
who discover franchising, their franchisees
design and franchising management, will be
very much positioned to collect the benefits
franchising can give.
Good administration proceed the choice to
venture the business. The principal liability is
to evaluate whether franchising is suitable
and, reckoning this is the demonstration, they
should make sure that the franchising
composition and design achieved is fitting
and crucial for its business. Repeatedly
frameworks are made with weak spots for the
franchisor or franchisee. The capability to
supervise will depend critically upon the
nature of revolution of events, as vital
substitutes to conventional system are
difficult to execute mid-term. Main guidance
from the executives advisors and official
instructor use gaining practical experience in
franchising is fundamental.

Moving ahead, the board and the executives
should have a clear working data on
franchising. They should apprehend the
Justifications for their own franchising
design and structure, how it differentiates
from rival, and its relationship for best
results. The hurdles of formation of
framework the board are virtuous to the
extent that neither of the roles can work
practically without expert knowledge.
The directorate should apprehend the
compelling difficulties and certainties of
installation framework the heads to design
feasible and survey the display of the
executives. The board organization, and
distribution of commitment ought to,
therefore, reflects the remarkable data and
prerequisites of allocating with an business
framework contrasted with overseeing
organization units.
The stack and the chiefs should frequently
advance and implement moral and reliable
dynamic. Franchisees are specifically
sensitive to the uprightness of the franchisor
and its set of experiences of dynamic.
Furthermore, the board and the executives
should be touchy to the public situating of
franchisees as fundamental partners to the
14
business. Chiefs should likewise know and
comprehend the monetary and non-monetary
pointers one of a kind to estimating and
checking establishment framework
execution. As specific illustrations, chiefs
should know the degree of franchisee
fulfillment, circulation of franchisee deals
and benefit, regardless of whether franchisees
are paying full sovereignties, restoration
program status, the extent of units available
to be purchased, whether regions are
completely abused, level of changes carried
out, level of consistence to the brand and so
on Note, the establishment framework should
be intended to give this data.
A sound framework should be set up to
perceive and oversee hazard. This is vital in
light of the fact that establishment networks
have one of a kind dangers. Expert
information is needed to perceive and oversee
key danger zones. Models incorporate market
changes prompting an obsolete establishment
structure, low franchisee fulfillment,
powerlessness to carry out required changes,
low brand consistence, channel struggle, and
so on Customary full establishment
framework the executives surveys ought to be
utilized by free experts to help here.
The capacity to reasonably audit and
empower upgraded board and the executives
viability is essential for both franchisor and
franchisee development. This again stems
back to introductory establishment
organizing choices, whereby the
establishment framework should be
organized to a given data ideally naturally
ready to exploring the executives and
franchisee execution, and furnish both
administration and franchisees with the
diversifying foundation and structure to
adequately create franchisee execution.
Lamentably, many establishment
frameworks, including some open
organizations, were not initially organized to
accomplish this.
In conclusion franchising is a hierarchical
structure giving benefits to many chain
organizations. Contrasted and different types
of association, including organization
possessed development, franchising gives
numerous exceptional difficulties and
necessities to the administration and
administration jobs. As featured over, the
capacity to determine the amazing benefits
franchising can give requires great starting
advancement of the diversifying structure
and foundation, and chiefs and the executives
who are learned and equipped for expanding
the capability of the two business sectors and
franchisees long haul.
SWOT ANALYSIS OF FRANCHISING
15
Strengths
 Many Franchisor provide beginning
and on-going pillar for franchisees.
This personalized backing up is a
characteristic of the business
composition franchise system. It can
help Lesser initial threa and costs with
it.
 Franchises can give many new
entrepreneurs a correspondence with
a popular, reputable brand. Many
franchisor have demonstrated
networks and supply chains to help
franchisees.
 Franchisor can give huge help and
cost-decrease toward the front by
offering franchisees market
examination and site-choice data for
likely areas.
 Many franchisor offer in-house
financing and outsider monetary
concurrences with loan specialists
that might be options in contrast to
traditional loaning.
 Franchisees can profit by a set up
bunch organization of individual
franchisees that can fill in as tutors.
Weaknesses
 Some establishments require huge
And advance expenses as beginning
up charges. Franchisees should pay
the franchisee an in progress
eminence charge, normally from net
deals. This sum, contingent upon
fixed expenses, could be a sizeable bit
of the franchisees month to month
benefits.
  Entrepreneurs should give up a e.g., pooling assets. Consequently,
specific degree of self-sufficiency. more modest, local establishments
Large numbers of the establishment that may zero in on more
arrangements are uneven, vigorously neighborhood financial improvement
preferring the franchisor. Franchisees objectives can in any case accomplish
might be left rivaling corporate economies of scale, diminished
retailers and autonomous expenses, the advancement and
organizations with over-valued execution of imaginative systems,
merchandise. At last, exacting and more prominent return of
Franchisor rules may smother speculation that are regularly
advancement. connected with bigger establishments
 Franchisees don't have power over the and corporate retailers.
corporate marking techniques or
Threats
advertising. One franchisee's
activities could fundamentally hurt  The expanding number of
other franchisees in the organization establishment sites and new
and the general brand establishments giving swelled
numbers, prompting conceivable
bogus assumptions. This event may
Opportunities
just escalate as the economy acquires
 The development of the establishment vigour and new establishments start
business in general has considered to arise.
more inventive establishment  Minimum pay laws may incredibly
methodologies. Establishments have affect franchisees with huge
started to conform to flooding sovereignty charges and low overall
monetary patterns like green revenues. Franchisor should step up
innovation, data innovation and to the plate in searching for elective
medical care. Moreover, the systems, for example, adaptable
development of local establishment territorial evaluating for products and
networks have permitted enterprises and representative
establishment organizations to take an advantage programs.
interest in financial improvement
techniques frequently connected with Research
autonomous organizations (e.g.,
In Pakistan, franchising is one of the most
privately sourced items,
appealing industries for investors and
neighborhood altruistic giving
companies. The idea of franchising is slowly
systems)
gaining popularity in Pakistan, especially in
 "Buying cooperatives," a part claimed
the hospitality industry. Many other U.S.
and controlled business made
hotel chains, as well as a variety of major
exclusively to exploit bunch benefits

16
U.S. restaurants, have franchisees in approximately 70% of the industry in
Pakistan. Pakistan.

Brand interest remains strong, and a With good brand marketing, American
significant increase in the number of brands were the first to penetrate Pakistan
shopping malls in larger metropolitan areas and now dominate the industry. Even before
would provide more opportunities for they began operations in Pakistan, American
grocery outlets, fashion retail, and movie brands such as McDonald's and KFC had a
theatres. There is also growth in the retail strong brand presence in the region.
sector, with a retail market size of $155 Pakistanis are proud of their high levels of
billion estimated by Delloite, consumer quality management and customer service.
spending in Pakistan has increased 83.4
percent in the last five years compared to 48.7
percent in the Asia-Pacific region reported by
Euromonitor International, and Pakistan is
the seventh largest food market in the APAC
region out of 24 countries reported by Planet
Retail. There is an emergence of many
international brands including Next, Splash,
Debenhams, Mango, Giordano, Timberland,
Levis, Dockers, Mother Care, Babyshop,
Accessorize, The Body Shop, Nike, Adidas,
Puma, Crox, Nine West, Charles and Keith,
Clarks and Sketchers, PF Chang’s, ALDO,
and SPAR.

Pakistan has the fourth-largest franchise

market in the world. Following the
phenomenal growth of telecommunications,
banking, and media in the last two decades,
retail marketing will have the next major
impact in Pakistan. By 2017, Pakistan will
have more than 30 malls open across the
world, bringing more business and foreign
brands to the country.

According to the World Franchise

Association, the current market value of
globally franchised restaurant chains in
Pakistan is estimated to be $150 million in
annual revenue. American brands account for

17
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