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<p>The choice between franchising or owning locations is critical for many restaurant chains. Yet, findings on the extent to which chains should franchise are inconsistent with some research showing positive, negative, or minimal relationships between franchise proportion and chain performance. We help to reconcile these inconsistent findings by applying agency theory to propose and subsequently find that higher franchise proportions are beneficial in less munificent environments and in more turbulent environments. Our findings create a more accurate understanding of the relationship between franchising and chain performance by identifying environmental munificence and turbulence as critical contextual factors.</p>

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Chains in context: environmental munificence and turbulence as moderators of the impact of franchising on restaurant chain performance

  • 期刊论文

  • 发表日期：

    2025年12月5日

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  • Jaeyoung Kang,
  • Bret Sanner

摘要

The choice between franchising or owning locations is critical for many restaurant chains. Yet, findings on the extent to which chains should franchise are inconsistent with some research showing positive, negative, or minimal relationships between franchise proportion and chain performance. We help to reconcile these inconsistent findings by applying agency theory to propose and subsequently find that higher franchise proportions are beneficial in less munificent environments and in more turbulent environments. Our findings create a more accurate understanding of the relationship between franchising and chain performance by identifying environmental munificence and turbulence as critical contextual factors.