Extended Response Explain the differences of establishing a business from scratch and setting up a franchise. Evaluate the success of franchises in Australia (refer to examples). There are significant differences between establishing a new business and setting up a franchise. Starting a business from scratch often takes a long time and a large amount of capital to accomplish‚ but the rewards can be substantial. A franchise is a business that is licensed to trade under a recognised brand name for
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Franchising: a literature review on management and control issues Sofie Verbieren Lessius – KU Leuven Research Assistant Accounting Lessius University College Katholieke Universiteit Leuven Department of Business Studies Faculty of Business & Economics Korte Nieuwstraat 33 Naamsestraat 69 2000 Antwerpen – Belgium 3000 Leuven - Belgium E-mail: Sofie.Verbieren@econ.kuleuven.be Phone: +32 16 32 65 47 or +32 3 201 18 74 - Fax: +32 16 32 67 32 or +32 3 201 18 42 Research interests: management
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food chain‚ a subsidiary of Yum! Brands Inc.‚ the world’s largest restaurant company. It was founded in Wichita‚ Kansas‚ USA in 1958 and is running its operations in about 91 countries worldwide. It is one of the major competitors of McDonald and Subway. Pizza Hut serves a large variety of starters‚ soups‚ salads‚ sandwiches‚ Pastas and deserts. Strategies:- The strategies at Pizza hut are guided by principles like Cleanliness‚ Hospitality‚ Accuracy‚ Maintenance‚ Product quality and Speed (CHAMPS)
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The first thing one thinks of after hearing the name “Subway” is healthy food. The Subway brand has brought a revolution in the food industry with its healthy sandwiches & salads. Brand History: The founder Fred DeLuca in partnership with Dr. Peter Buck opened a submarine sandwich store in 1965 to fund his education as he wanted to be a doctor. Little did he know that he was destined to create a brand which today has 34218 restaurants spread across 95 countries. Brand Name: The founders
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1. a. Franchise for sale up to $20‚000 - Wealth Masters international b. $20‚000 - $50‚000 - telcoinbox c. $50‚000 - $100‚000 - Fast Way Couriers d. $100‚000 - $250‚000 - Raw Energy e. $ 250‚000 - $500‚00 - Sumo Salad f. $500‚000 - Nandos 2. Wealth masters international - doesn’t require business knowledge‚ has a great support systemto help you and empowers poeple to build a successful business. The investment required is $2‚300 - $19‚995. Territory - national/global
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Concept of franchise There are thousands of franchised businesses‚ covering nearly every conceivable industry‚ from well-known national brands to smaller‚ local opportunities. The challenge is to decide on one that both interests the investors and is a good investment. The term franchise basically illustrates the concept of buying an international company and using in a different country/state. In other words it means one is buying the right to use a specific trademark or business concept. The
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Types of Franchising There are three basic types of franchise; 1. Trade name franchise Trade name franchise involves a brand name such as True Value Hardware or Western Auto. Here‚ the franchisee purchases the right to become identified with the franchisers trade name without distributing particular products exclusively under the manufacturers name. 2. Product distribution franchise A Product distribution franchise licenses the franchisee to sell specific products under the manufacturers
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Franchise Have you ever noticed when you are out in your local shopping district just about everywhere you look there is a McDonalds‚ Taco Bell‚ or Pizza Hut? These types of businesses are known in the business world as franchises. The franchise is a business that is individually owned but it is licensed to operate under the umbrella of a major corporation‚ as Henry Cheeseman states in chapter 40 of his book Business Law‚ a franchise is a separate corporation from a corporation. When a person
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The Subway® is mainly selling submarine sandwiches (subs) and salads to their customer. It is a strong and growing brand which is known for fresh and healthy made-to-order sandwiches. It provides low fat menu and allows their customer to mix-and-match the ingredients into their subs according to their preferences. Besides‚ Subway® also offers other products such as soft drinks‚ snacks and cookies. Customers are allowed to combine their subs‚ drinks and snacks in order to getting a cheaper offer.
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MAF 680 INTEGRATED CASE STUDIES GUIDELINE TO CASE 3 – FRANCHISE BUSINESS A. STUDENTS ARE REQUIRED TO FORM A GROUP THAT CONSISTS OF NOT MORE THAN TWELVE (12) MEMBERS IN A GROUP. B. THE LEADER OF THE GROUP IS REQUIRED TO GATHER THE NAME AND MATRIX NUMBER OF ITS MEMBERS AND FORWARD THIS TO PUAN AINUL (HEA UITM KBM)‚ INORDER FOR THE OFFICER TO PRODUCE A LETTER OF ACKNOWLEDGEMENT/CONFIRMATION THAT YOU ARE THE STUDENTS OF FACULTY PERAKAUNAN UNDERTAKING MAF680 AND ARE REQUIRED TO DO FIELDWORK AND TO DO
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