business franchise paper
OBJECTIVE: Give students an opportunity to understand the role of franchising in the small business sector of the American economy.
OBJECTIVE: Expose students to business research resources.
Economics: Understand the role of small business ownership in the American economy. Explore the impact of recession on small business vs. larger corporations.
Problem Solving: Explore the options for small business ownership and weigh the advantages/disadvantages of franchising.
Career Planning: Explore a career in small business and contrast traditional small business ownership with franchise ownership.
Writing: Business writing using research data.
Entrepreneurship: 15% of your grade
GOAL: Provide a basic understanding of the benefits of franchising business operations
*How was the business created? (whose idea, history of the company)
*Explain the advantages and disadvantages of a parent business franchising its operations
Marketing/Advertising: 15% of your grade
GOAL: 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?
*Determine the advertising fee arrangements for the franchisees
Operations Management: 15% of your grade
GOAL: Provide a basic understanding of the supply chain and procurement strategies
*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
Costs: 30% of your grade
GOAL: Provide a basic understanding of the costs associated with opening/operating a franchise
*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
*Determine an estimated break even point from sales (see your instructor for more details on how to determine this for your specific company)
Human Resource Management: 15% of your grade
GOAL: Provide a basic understanding of the staffing and training requirements in franchising
*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
References: 10% of your grade
GOAL: Cite research sources appropriately in a bibliography