How to start a franchise

Augustyn: Below is my business paper which has been fully researched as per the instructions as was requested to be submitted on July 30, 2018. In this paper i have discussed on ways of starting a franchise and effective ways of purchasing a franchise. All the more particularly, this paper will give all of you the data about How to Start a Franchise or Purchase an Effective Franchise. With the utilization of numerous incredible optional assets, for example, JSTOR, Business Week, PC Magazine, and Newsweek, the material found in this paper gives an awesome blueprint about How to Start a Franchise or Purchase an Effective Franchise. For my essential research, I chose to talk with three establishment proprietors in Macomb region. 4 How to Start a Franchise or Purchase an Effective Franchise What is Franchise?.

5 How it Works……………………………………………………………………. 6 Demand and Competition. 6 Hiring Process…………………………………………………………………. 9 Training………………………………………………………………. History of Franchise The principal establishment was set up by William E. Metzger who acquired a steam car from general engines enterprise in 1898, in initial two many years of 1900 each sort of dissemination was attempted in the vehicle business. Franchise system the first step you have to make when you try to purchase a franchise is to search in different franchise opportunities available. It’s important to find the right franchise according to how much money you want to spend and personal interest. There many different types franchises all over the untied state. Another good thing about franchise is that they provide all the training and they walk through every before starting even starting.

How to Start a Franchise or Purchase an Effective Franchise What is Franchise Diversifying is basic approach to degree a business and circulating administrations and merchandise through an assention that will enable the two gatherings to profit and profit. "in diversifying, franchisors is the individual or organization that concedes the permit to the outsider for directing of business under their imprints, franchisees is the person who granted the license to do business under the trade marks”. Also, the franchise provides operating system and supplies and training they almost walk you through all the steps to make sure that you’re on the right track (What is Franchise?, n. d). Sometimes When franchisee doesn’t agree with new company polices or doesn’t follow the rule correctly the company may take over the franchise.

Demand and competition Beginning a business is much the same as purchasing an auto, you have to look through all finished to locate the correct one. To begin with, see whether there's interest for the item or administration. Complete a focused examination. Discover a place to set up shop. More than 200 industries use franchising system including: food, fitness, automotive…etc. In other hand we have traditional or product distribution which is less common, traditional or product distribution is larger in total sale than business format franchising. In traditional or product distribution the main goal is to sell only the product or supplies. Examples of tractional or product distribution franchising can be found in gasoline, automotive…etc. Hiring Process As you open a new business the hiring process should be given a lot of time.

They usually outline the franchise fees, supplies requirement and opening day cost, and usually they numbers are reasonable and make sense. When it comes how much you are going to make it all depends on how much money you want to invest and how much time you are going to spend on you are business. Primary research did you have experience as a business owner or manager? How much money do you have to invest? Based on my interviews, it’s clear that franchising are good investments and help to grow the economy. To begin, over ½ of the people I interviewed personally think that franchises are good. From this fact, it shows that there are many different franchise options. ” Journal of Business Ethics, vol.

95, no. 2, 2010, pp.  JSTOR, JSTOR, www. jstor. Leibowitz, Martin L. “Franchise Margins and the Sales-Driven Franchise Value. ” Financial Analysts Journal, vol. 53, no. 6, 1997, pp. org/stable/3094151. https://www. franchise. org/what-are-the-criteria-for-selecting-a-franchise the interview questions are as follows: 1. How much money do you have to invest? 2. do you purchase the franchise alone or with partners? Ray: Self Joe: Partner Mike: Self 3. Did you finance? Ray: Yes Joe: Yes Mike: Yes 4. does the franchise require technical experience or specialized training or education? Ray: Yes Joe: Yes Mike: Yes 5. did you have experience as a business owner or manager? Ray: Yes Joe: No Mike: No 6. do you need a specific annual income? Ray: Yes Joe: No Mike: NO 7. INTRODUCTION In business format franchising, a franchisor owns a complete business format entailing a shared identity toward customers and detailed operating procedures and replicates it by forming alliances with independent business owners who use the business format in return for fees.

A franchise system consists of all the franchised units and units owned and managed by the franchisor itself (i. e. , company-owned units) that all operate under more or less the same business form. In the past few decades, business format franchising has become an increasingly popular business strategy in different industries in various parts of the world. The primary method of research is to interview 3 franchise owners at Macomb county. PRELIMINARY OUTLINE I. Introduction A. Purpose, Scope, and Limitations B. Sources and Methods C. training C. profit V. Conclusion WORK PLAN Collect/analyze preliminary secondary information 07/01/18 Draft primary research instrument 07/07/18 Finalize survey 07/11/18 Distribute survey 07/16/18 Collect all surveys and tabulate 07/22/18 Write first draft of research paper 07/22/18 Prepare graphics/visual aids for oral presentation 07/23/18 Submit research paper and present highlights 07/30/18 If additional information is required, please let me know.