[1] Franchuk graduated from the Krasnoyarsk State Technical University in 1961 and the Academy of National Economy in 1980.

After serving in the Soviet Army and holding various engineering jobs within the USSR, he became Minister of Economy of the Republic of Crimea from 1991 to 1993.

In 1994 the Ukrainian President Leonid Kuchma, a family friend, appointed him as Prime Minister of Crimea against the elected separatist President of Crimea, Yuriy Meshkov.

As a member of the Revival party, he served in the Verkhovna Rada from 1995 to 2006.

[2][3][4] His son, Ihor Franchuk [uk], was married to Olena Pinchuk, the daughter of former President Leonid Kuchma.