To complete this assignment, you are required to perform a search for a business franchise based in the United States. You must pick a franchise that you think will succeed in your community and is not common to this area (don’t pick McDonalds, KFC, Subway, etc.).
Make sure there is enough written about the franchise that you choose. If you cannot find enough information from the company web site and additional research, you should choose a different franchise.
Include the following information:
Describe the franchise.
What is the mission and philosophy?
What is the management/marketing plan?
What do they sell?
What are the costs of opening and operating the business, including franchise fees, real estate, equipment, insurance, and other essentials?
Do franchisees need to have a minimum net worth?
Do you need to pay annual royalties to the franchisor?
How would you arrange to acquire the necessary funds, assuming you don’t have them?
What does the franchisor provide to assist the franchisee in starting the business? (marketing, management, purchasing, etc.)
What is required of the franchisee?
How much control does the franchisor have over the business?
Why is this opportunity attractive?
Do you think there is a good target market for the franchisor’s product/service?
What trends (demographic, socioeconomic, etc.) help make this opportunity good?
Where would you locate?
As the franchisee, how would you market your business?