Problem
a) What are the kinds of purchases for which you'll "spare no expense"? What kinds of purchases do you want to buy spending as little as possible? What are the major differences between these two categories that drive your attitude regarding price?
b) Go online and compare three franchises (e.g., franchise.org, americasbestfranchsies.com, or whichfranchise.com). Choose two franchises in the same industry (e.g., fast food) and the third franchise from another industry (e.g., hair cutting). Make a table to report the fee structures (upfront, continued licensing), as well as benefits touted for franchisees of each franchise system. What would tempt you to pitch in with some friends and buy a franchise?
c) Identify and state at least two factors that can help to make a franchise successful from a marketing perspective. Why?