외식 프랜차이즈 기업의 초기 가맹 비용 결정 전략이 가맹본부 수익성에 미치는 영향

This study investigates the relationship between pricing strategies for initial fee decisions and franchisors’ profitability. As the restaurant industry is getting excessively competitive, it has been more difficult for the firms to make profits. In this market condition, franchising has become a useful governance structure for restaurant firms by enabling them to grow rapidly and improve financial performance. The current study aims to uncover the mechanism how initial fee decisions affect franchisors’ profitability, using the framework of pricing strategies. Panel data analyses by employing the secondary data show the results that (1) cost-based pricing strategy on initial fee decisions was not statistically significant, (2) competition-based strategy on initial fee decisions has a negative effect on profitability, (3) value-based strategy on initial fee decisions has a positive effect on profitability. Findings of the study provide implications to franchising and restaurant management literature as well as industry practitioners.