Take a look at some of the largest businesses today, and you are likely to be blown away by the numbers they boast in terms of capitalization, revenue and profitability. Walmart, the world’s largest retailer according to Forbes, reported USD 482.13 billion in revenue and USD 14.7 billion net income as of February 2016.
There is Subway, the fastest growing franchise in the world with close to 45,000 restaurants as of September 2016, making it the largest single-brand restaurant chain and the largest restaurant operator in the world. British company The Body Shop currently operates franchises in close to 3,000 locations worldwide, and remains to be one of the most recognizable brands in specialty skin care, even after its acquisition by L’Oreal in 2006.
Very impressive, aren’t they?
What eventually made them break out of that group and charge ahead of their contemporaries?
The likeliest answer, aside from determination and good business practices, is the application of business growth strategies.