IKEA was born in Netherlands in 1943 and it first started as a business model and later developed into IKEA concept. Some of the products on the IKEA list are home furnishing, food products, and retailing.
There are five business tasks that IKEA is known for. Firstly it is franchising, secondly it is retailing, then transfer of know how, implementation of IKEA concept and finally the protection of IKEA Concept.
Through the concept of franchising IKEA have stores even in the remotest corners of the world. It changed the world of retailing forever through this concept.