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Business Studies

Business Studies. Franchise... Continued.

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Business Studies

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  1. Business Studies Franchise... Continued

  2. WALTEvaluate franchise set upsWILF-ALLIdentify the advantages and disadvantages for the franchiseeIdentify the advantages for the franchisorMOSTExplain the advantages and disadvantages of franchiseeExplain the advantages for the franchisorSOMEExplain in detail the advantages and disadvantages of franchisesExplain in detail the advantages for the franchisor

  3. Match the terms • Who sells the Franchise? • Who buys the Franchise? • Loyalty Payments are • A % of profits • Franchisee • Franchisor

  4. Facts and Figures Franchises are a significant part of business life in the UK: Franchises generated annual sales of £12.4 billion in the UK in 2007 There are over 800 different franchised business formats in the UK and that number is rising by around 5% each year The average sales turnover per franchise outlet is £360,000 90% of franchises are reported to be profitable A franchise has average borrowings of £70,000, suggesting that banks are happier to make loans to franchise businesses than other start-ups The typical franchisee is aged 47.  66% are men and 86% of franchisees are married! Franchises are particularly popular in the service (tertiary) sector

  5. Why should an entrepreneur buy a Franchise? Surely with a business mind you’d just start-up your own business. Discuss

  6. Prepare to present your ideas / questions TASK • In small groups look at the 6 adverts for Franchises in our area. Which one do you think is more desirable? And why? What other information would you need to know before investing? Prepare a list of questions that you would use in a meeting with the owner.

  7. Plenary • Share ideas • Discuss opportunities • Advantages and Disadvantages • Compare to own business start-up • Franchise True and False

  8. Additional / Extension / Alternative • Cosmetics Case Study • What would be the cost to Kerry of buying the franchise? • Suggest what would be the advantages to Kerry of buying into the franchise. • Discuss what skills Kerry would need to make the franchise a success.

  9. HOMEWORK – DUE MONDAY 8th OCTOBER Continue revision + What is a USP?GIVE 2 Examples of a usp

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