Cricket was already a big business but now with the introduction of franchise system it is taking some better and more profitable shape which is helping all parties in good way like players have enough money with managements are also taking very good profit and many other parties are also having very good change with this all as we already have in European Soccer where many countries going with much luxury style and few have small models but still very helpful for them as they can handle all things in better way now we need this spirit into cricket as well which is not happening due to some political reasons but still many countries can do take some good advantage and enjoy their markets with this all which will more grow in future with time and better experience.
The trend with football will take quite a lotta time to get into cricket. One big reason could be football is a global sport, but cricket is only played by a few nations, and 2 or 3 boards control how cricket is played.
When was cricket a big business? Before IPL I do not think BCCI had those revenues. Only a few exceptional players were making good money through advertisement all others were getting paid what BCCI paid. Post IPL everyone player, the franchise and BCCI is making tons of money. It has now become a complete business, which in a way is good and also bad.
You are right. IPL is the kick-starter of the money game in cricket. As before it, players were only paid their salary but now, they make more than that by playing 1 month in the IPL. As you said, it has both advantages and disadvantages.,