Isint the purpose of any franchise to take a successfull buisness model which requires (and allows for) little to no entreprunerial input, with a view that 'running' a buisness in the confines of a small box one cannot fail (McDonalds the classic example).
The product of the franchise is really not important but the model surrounding the buisness is.
Now correct me if im wrong but the Jetstar buisness model has proven to be somewhat of a failure. Franchising may work for the likes of South West or Easyjet but from what little I admittedly know about it, the Jetstar model has too many faults.
Sorry, but I can't see how the business model has proven a failure or has too many faults. It's not radically different from any other LCC. JQ has been profitable since its inception. 3K on the other hand has been a failure mostly because they couldn't get the traffic rights they needed, and the problem that SIN just isn't a great place for LCCs to get a start.
The model will become a bit like Air Asia who have bought into AWAIR in Indonesia and Thai Air Asia with minority stakes in those carriers and rebranding them as Air Asia. If they could, QF would buy all of 3K or any other SE Asian operator, but of course they can't keep their traffic rights.