Business Project Essay

Topics: Fast food restaurant, Fast food, United States dollar Pages: 11 (3768 words) Published: November 9, 2011
International Business Project
Barry A. Bunch
LeTourneau University
In partial fulfillment of the requirement for BUSI4703
International Business Environment
Ph.D. Gianantonio "Jonathan" Michelon
May 3, 2011

International Business Project
I. Purpose
II. Table of Contents
III. Opening
IV. Available resources (technology, transportation, personnel, energy, raw materials, etc.) V. Sociological forces (language, culture, etc.)
VI. Financial forces (rates of exchange, tariffs, etc,)
VII. Economic forces (inflation, etc.)
VIII. Physical and environmental forces
IX. Legal forces
X. Competitive and distributive forces
XI. Conclusion
XII. References

International Business Project
I. Project
The purpose of this project is to consider and evaluate the opportunity to open a corny dog franchise. The potential gains and the challenges that are faced when attempting to open a corny dog franchise in the city of Beijing China are being looked at. There are many issues that could arise and determining the potential roadblocks in advance can prevent them from becoming major problems and an explosive situation. II. Table of Contents

The first appendix is about the exchange rates between the Chinese Yuan and the U.S. Dollar as of May 2, 2011. This is a table that reflects the differing rates for the classification of souvenirs, food, and clothing. This category correlates to the industry that is being considered in this project. The second appendix is a table that shows information about well-known American fast food chains. The table will reflect items such as earnings per share, price to earnings ratio, and forecasted growth over the next three-to-five years. III. Opening

It is necessary to look at all facets of the business venture that is being considered. Attempting to open a fast food franchise that is a truly American food can be daunting. A very good way to attempt this and reduce the risk is to look at franchising. This is a way to open a restaurant with quality support. There is no guarantee that this type of fast food restaurant could be a success in the city of Beijing. It helps to begin to look at the resources that are available to the potential business. The next step would be to look at the potential language and culture barriers that would have to be overcome. Determining rates of exchange, what effects that tariffs may have on the product, and what some of the financial forces brought to bear would be necessary. This would also include economic forces such as inflation and property values. The legal challenges and laws that must be overcome will also be evaluated. Finally it will be necessary to look at potential competition and any distribution challenges that might arise. IV. Available resources

It has been determined that the best way to begin the process of opening the corny dog business in a foreign country is through the franchise process. Using a franchise reduces the chances of mistakes that new business start-ups commonly have to deal with when beginning a business venture. After some evaluation it has been determined that the best company franchise to deal with is the Corn Dog Factory.

The Corn Dog Factory uses an ideology that says that “TOGETHER, WE’RE BETTER!” in their franchising paperwork. ("Corn dog factory," 2011) They also are fond of the term "On your own, but never alone”. ("Corn dog factory," 2011) They offer a parent company that is staffed by experienced restaurant operators that have years of hands-on experience in all facets of the business of opening and running a restaurant. This brings a franchise network that offers invaluable knowledge, strength, and support. This expertise begins at the finance stage and includes everything from construction or leasing to training, marketing, and advertising assistance. They have training programs that are designed to get the staff up...
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