Franchises & Business Plans What is a franchise? Using examples from the real world, explain three advantages to the franchiser and to the franchisee. A franchise is where a business with a well-known brand name (the franchisor) lets a person (the franchisee) or a group of people set up their own business using that brand. This is in exchange for an initial fee and continuing royalty payments (a certain percentage of turnover or profit) for as long as the franchise lasts. A franchise is not
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Franchising What is a franchise? What are common franchise terms? What are the alternatives to franchising? What are the advantages and disadvantages of owning a franchise? What are the legal issues in franchising? WHAT IS A FRANCHISE? A franchise is the agreement or license between two legally independent parties which gives: • a person or group of people (franchisee) the right to market a product or service using the trademark or trade name of another business (franchisor) •
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franchise 1) n. a right granted by the government to a person or corporation, such as a taxi permit, bus route, an airline's use of a public airport, business license, or corporate existence. 2) n. the right to vote in a public election. 3) v. to grant (for a periodic fee or share of profits) the right to operate a business or sell goods or services under a brand or chain name. Well-known franchise operations include McDonald's, Holiday Inns, Ace Hardware, Rexall Drug Stores, and Amway Distributors
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Franchise My franchise which I chose was Mc Donald’s they sell food to people, they are based in many parts of the country. Franchise is when you use buy the name and products of a large and effective company. The size of this business is large because it has over 250 employees. It is also international according to scale because it is based in many countries like Pakistan, England, France, America and many more. A franchisee is a business or person who has the right to trade as a franchise no one
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Franchise Project In this paper I will go in depth about franchising opportunities from several franchisors, talking about service or products the companies they offer/sell, the different fees that are required, what kind of support system the franchisors offer, their competition, and where they are located in the Upstate if they are at all. The companies that I’m going to elaborate on are Cinnabon, Dominos, Maaco, and Anytime Fitness. Franchise Description and Background Cinnabon Inc. is a
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confidently into the future. One of the principal tactics in doing business in today’s current environment, particularly for SMSs, is franchising. This method has been improved ever many years through trial and error and has become a clear concise process. It has been exposed to many different business relationships such as agencies, distribution and licensing. Franchising has proved its worth as a more refined procedure by supplying the “business system” that guarantees that the company follows the set out
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other identifying information to protect confidentiality. Richard Ivey School of Business Foundation prohibits any form of reproduction, storage or transmission without its written permission. Reproduction of this material is not covered under authorization by any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, Richard Ivey School of Business Foundation, The University of Western Ontario, London, Ontario, Canada, N6A 3K7;
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Case Study: Franchise Strategic Planning 1. What inputs did Allegra management use to formulate their strategic plan? The basic model management of Allegra is franchising. Franchising - is an organization of business in which the company (the franchisor) transfers to an independent person or company ( franchisee) the right to sell the products and services of this company. Franchisee agrees to sell the product or service at a predetermined laws and regulations of doing business that sets the
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Case # 1: A typical education franchise organization had around 80 per cent of its outlets owned and run by the franchisor. The rest were all franchise outlets or “centres”. The franchisor had set up 10 of his centres initially and run them as successful centres before venturing into franchising. The brand name was popularized initially through aggressive traffic – oriented advertising for the franchisor’s centres. Franchise centres were started initially in the territories where these centres
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is among the successful franchises that have utilized information systems to get them to where they are today. Information systems are an important part of the plan for success. There is much to be said about a franchise unit that does not operate using an information system. According to Britannica Online an information system is an integrated set of components for collecting, storing, processing, and communicating information. It is the heartbeat of many franchises and allows owners to manage
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