The China Twist: An entrepreneur's cautious tales on franchising in China

Two young Wharton MBA graduates competed for and won their bid for exclusive China Master Franchise rights for one of America's beloved snack brands, Auntie Anne's Pretzels. Leaving their lucrative careers in private equity and consulting, they landed in Beijing with big dreams, few connections and no experience in China.From the outset, they encountered non-stop challenges. Common business tasks in the United States were nightmarish obstacles in China, from registering a company, to import...