OBJECTIVE 1: Give students an opportunity to understand the role of franchising in the small business sector of the American economy.
OBJECTIVE 2: Expose students to business research resources, and with the help of those resources, encourage them to think critically and form options on various business disciplines
Entrepreneurship:
How was the business created? (whose idea, history of the company, where the company was started)
Research how many stores are currently in operation, how many are franchises vs. company owned stores, and when why/the first franchise opened
Explain the advantages and disadvantages of a parent business franchising its operations
International Business:
Prepare a PMI (plusses, minuses, implications) for your firm's international expansion
Operations Management:
Does your firm have centralized or decentralized authority for decision making?
Given today's global marketplace, explain the benefits and drawbacks of your firm's authority structure.
Finance:
Explain all start up fees for your franchise
Identify any ongoing fees for franchise ownership (how much, payment schedule)
Determine the advertising fee charged to franchisees
Management:
Prepare a SWOT analysis for your franchise.
Compare your franchise's culture to that of a non-franchised competitor. What are the benefits and drawbacks of your firm's culture in today's global environment?
Human Resource Management:
What are the steps one must follow in order to become a franchisee?
Why might an entrepreneur be inclined to buy a franchise? 2
Using EXCEL, provide a graphical representation of your franchise's profits and stock price relative to a non-franchised competitor, covering the most recent 3 consecutive years.
What observations can you make about the competitive advantage or disadvantage of franchise ownership?