Representitives angie li josh steinegger michelle east susanna harbach
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Representitives : Angie Li, Josh Steinegger , Michelle East, Susanna Harbach. Franchise . “ A franchise is a business model that involves one business owner  licensing trademarks and methods to an independent entrepreneur ”. --U.S. small business administration. Pay fees.

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Representitives : Angie Li, Josh Steinegger , Michelle East, Susanna Harbach

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Representitives angie li josh steinegger michelle east susanna harbach

Representitives:

Angie Li, Josh Steinegger,

Michelle East, Susanna Harbach


Franchise

Franchise

  • “A franchise is a business model that involves one business owner licensing trademarks and methods to an independent entrepreneur”. --U.S. small business administration

Pay fees

Brand name, training, marketing plan, management support


Franchise types

Franchise Types

  • Product distribution franchises

    • Franchisor licenses its trademark and logo to the franchisees           

    • example: Coca-Cola, Goodyear-Tires, Ford Motor company

  • Business format distribution franchises

    • provides to franchisee a full range of services, including site selection, training, product supply, marketing plans and even assistance in obtaining financing.

    • example: Wendy’s, Great Clips, UPS store


Franchise arrangement types

Franchise Arrangement Types

Franchisor

franchisee

Franchise unit

Franchise unit

Franchisor

franchisee

Franchise unit

Single-unit (direct-unit)

Multi-unit

Franchise unit


Self evaluation

Self Evaluation

Chief

Cheerleader

Motivated by results


Representitives angie li josh steinegger michelle east susanna harbach

Step 1: Self Evaluation

Step 2: Pick a Franchise

Consultant to Assist You

Step 3: Research


Pros and cons

Pros and Cons

Pros

Cons

Name recognition

Support management

Long-standing training program

Prepared material and equipment

Small business learning experience

High franchise fees

Limited control

Limited duration

Company trouble can impact the local business


Step 4 attend discovery day step 5 speak to other franchisees

Step 4: Attend “Discovery Day”Step 5: Speak to Other Franchisees

1.“In the beginning, the last person paid is you”

2. Unknown competitors

3. Closed stores

4. Change in demand

5. New laws or government regulations

6. More than making money

7. Marketing support and training

8. Hype of a company. Check the facts with other sources.


Step 6 find a suitable location

Step 6 Find a suitable location

High demand of products and services

Relatively low competition


Step 7 c hoose a franchise and secure funding

Step 7 Choose a franchise and secure funding

Measure the potential growth

Compare companies’ business model

Six common cost

Franchise Fee

Legal Fees

Build-Out Costs    

Inventory

Supplies

working capital

Source: Fro Yo Spot Frozen yogurt


Franchise cost by categories

Franchise Cost by categories

http://www.franchise.com/franchise-news/Basic_Cost_By_Category.cfm


Representitives angie li josh steinegger michelle east susanna harbach

Top 10 Franchises for 2014

Source: http://www.entrepreneur.com/franchise500/index.html


Secure funding

Secure funding

  • Funding budget sources:

    • Government loans-U.S. Small Business Administration (SBA) loans

    • Bank loans

    • Franchiser internal financing


Step 8 sign the agreement step 9 obtain all necessary permits and insurance

Step 8: Sign the AgreementStep 9: Obtain All Necessary Permits and Insurance


Step 10 hire staff and attend training

Step 10: Hire Staff and Attend Training

Operations Manual

Headquarters Training

Onsite Training

Ongoing Training

Train, Train, and Over-train

Test for Competence

  • Soft VS Grand Openings

Who you hire

The kinds of training used


Activity

ACTIVITY


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