WHY FRANCHISING? Why is international franchising such an exciting opportunity for local entrepreneurs in emerging markets? First of all, because in countries like India, with a new middle class of 300 million people, the door is wide open. For the moment, franchisers have not penetrated these new markets: in China, franchising represents only 3% of all commercial activity. Secondly, the business model is perfect for markets where local entrepreneurs have limited skills and experience: following a successful franchise's manual is the ideal way to learn on-the-job. Thirdly, because franchisers can limit risk by helping new businesses avoid the mistakes that independent start-ups would make. Finally, with their franchise's marketing and financial influence, local outlets can grow more quickly than an unknown brand.