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Forward Thinking Magazine : August 2010
36 Macquarie Adviser Services Spotlight on Franchise investing 36 For many people, the term franchise is synonymous with fast food restaurant chains like McDonalds. In the investment community however, franchise can describe a business model that gives companies a distinct competitive advantage over their peers. We examine what Independent Franchise Partners (IFP) looks for when investing in a franchise and consider why IFP selected one particular stock, Estee Lauder, for the IFP Global Franchise Fund.