“In the simplest sense, micro-franchises are ‘businesses in a box’ which can be taken on by low-income individuals,” says Joe Kallarackal, director of the International Centre for Social Franchising. “As a lot of the supporting systems have been tested and packaged up, the franchisee doesn’t need to have a lot of specific skills to take it on.”
Who would have thought that franchises could hold the key to stimulating local economies?
Director, Joe Kallarackal spoke to Sharon Thiruchelvam at The Times, about the contribution franchising can make towards alleviating poverty.
