Entrepreneurship
How would
you define franchising?
What
are the advantages and disadvantages of a parent business (the franchisor)
franchising its operations.
|
Advantages
|
Disadvantages
|
How
was the business created? (whose idea, history of the company)
Marketing/ Advertising
Provide
a basic understanding of the role of marketing in franchising.
Identify
the marketing strategy used for this company:
global, national, local?
Why
is this strategy the best choice for this particular business? (Knowledgeable
opinion)
Determine
the advertising fee arrangements for the franchisees
Operations Management (Procurement)
Provide
a basic understanding of the supply chain and procurement strategies used by
franchises. What is meant by
procurement? Why is procurement
different for a franchise?
Identify
the procurement process for the parent and its franchisees (e.g.central
procurement of supplies and/or raw materials)
Explain
the advantages and disadvantages of the procurement process this company uses
|
Advantages
|
Disadvantages
|
Costs
Provide
a basic understanding of the costs associated with opening and operating a
franchise. What costs are included?
Determine start up
costs and financial requirements for approval
Determine if the
parent assists in financing the new franchise
Identify royalty fees
owed to the parent, as well as the payment schedule
Human Resources
Provide
a basic understanding of the staffing and training requirements in franchising. Why is this different for a franchise?
Does
this company provide corporate training for its franchisees? If so, what skills are they trying to develop
in their franchise owners and their employees?
Identify
advantages and disadvantages of corporate training
|
Advantages
|
Disadvantages
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