Petrol Station Franchisor Selection Through Circular Intuitionistic Fuzzy Multicriteria Analysis

In a rapidly unstable business situation, the development of an ideal multi-criteria franchisor selection method is essential for effective business operations. Atanassov introduced the theories of index matrices and circular intuitionistic fuzzy sets in 1987 and 2020, respectively, which are appropriate theoretical tools for simulating a multi-criteria system for choosing a successful franchisor. For choosing a gas station franchisor, the research suggests an index-matrix interpretation of a circular intuitionistic fuzzy decision-making model (C-IFFr), in which the proposed algorithm takes into account the ratings of the experts as well as the priorities of the evaluation criteria. The evaluation criteria values and their relative importance are introduced as circular intuitionistic fuzzy numbers. Three scenarios - optimistic, average, and pessimistic - are suggested to help the entrepreneurial firm to make the best choice. Using the suggested C-IFFr analysis to select a franchisor for a chain of gas stations was successful.