The evolution of the theory of international franchising is traced and debated through 10 major papers (summarized in Table 1). The papersbuild on a general framework to explain the decision to internationalize the franchise but have been augmented over the years by ‘‘borrowing’’ from mainstream marketing theories. Capability theory, relationship theory, stakeholder theory, and governance theory are among the theories borrowed by researchers to enhance the theory of international franchising. The ongoing development and evolution of international franchising theory has certainly strengthened it. However, as the critique provided here shows, there is always scope to refine the theory further as well as continue the process of integration of theoretical perspectives. Future research is encouraged with this theory development.