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INTRODUCTION TO BUSINESS CONCEPT

INTRODUCTION TO BUSINESS CONCEPT. THE COMPANIES. loading…. s lides download: unnay.wordpress.com. TUTORIAL FOCUS. HOME. OUTLINE. SUMMARY. DISCUSSING QUESTION. CASE STUDY. introduction TO BUSINESS CONCEPT. DISCUSSING ACTIVITIES. ENB201. OPEN QUIZ ON CHAPTER 1.

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INTRODUCTION TO BUSINESS CONCEPT

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  1. INTRODUCTION TO BUSINESSCONCEPT THE COMPANIES loading…. slides download: unnay.wordpress.com

  2. TUTORIAL FOCUS HOME OUTLINE SUMMARY DISCUSSING QUESTION CASE STUDY introduction TO BUSINESS CONCEPT DISCUSSING ACTIVITIES ENB201

  3. OPEN QUIZ ON CHAPTER 1 Intranets, Extranets,and Private Exchanges 1 2 4 3 5 7 6 HOME OUTLINE SUMMARY DISCUSSING QUESTION CASE STUDY introduction TO BUSINESS CONCEPT ENB201

  4. KNOWLEDGE SHARING ACTIVITIES HOME OUTLINE SUMMARY DISCUSSING QUESTION CASE STUDY introduction TO BUSINESS CONCEPT ENB201

  5. Questions & Comments??? THANKS FOR YOUR GOOD PARITICIPATION!!!

  6. BASIC FORM OF BUSINESS OWNERSHIP HOME OUTLINE SUMMARY DISCUSSING QUESTION CASE STUDY introduction TO BUSINESS CONCEPT ENB201

  7. WHAT IS FRANCHISING? • Franchising: semi-independent business owners pay fees and royalties to a parent company in exchange for the right to sell its products and services under the franchiser’s trade name and often to use its business format and system HOME OUTLINE SUMMARY DISCUSSING QUESTION CASE STUDY introduction TO BUSINESS CONCEPT ENB201

  8. HOW MANY TYPES OF FRANCHISING? HOME • Trade name • Product distribution OUTLINE • Pure (Business format) SUMMARY DISCUSSING QUESTION CASE STUDY introduction TO BUSINESS CONCEPT ENB201

  9. Figure 4.1 The Franchising Relationship The Franchisee Element The Franchiser Site selection Design Employees Products and services Prices Purchasing Advertising Quality control Support Oversees and approves; may choose site Provides prototype design Makes general recommendations and training suggestions Determines product or service line Can only recommend prices Establishes quality standards; provides list of approved suppliers; may require franchisees to purchase from the franchisor Develops and coordinates national adcampaign; may require minimum level ofspending on local advertising Sets quality standards and enforces themwith inspections; trains franchisees Provides support through an establishedbusiness system Chooses site with franchiser’s approval Pays for and implements design Hires, manages, and fires employees Modifies only with franchiser’s approval Sets final prices Must meet quality standards; must purchaseonly from approved suppliers; must purchasefrom supplier if required Pays for national ad campaign; complies withlocal advertising requirements; gets franchisorapproval on local ads Maintains quality standards; trains employeesto implement quality systems Operates business on a day-to-day basis withfranchiser’s support Source: Adapted from Economic Impact of Franchised Businesses: A Study for the International Franchise Association, National Economic Consulting Practice ofPriceWaterhouseCoopers, (IFA Educational Foundation, New York: 2004), pp. 3,5.

  10. WHY BUY A FRANCHISE? • Franchisees are buying the franchiser’s experience • “Going into business foryourself but notbyyourself” • Franchisees get a proven business system and avoid having to learn by trial-and-error • Before buying, ask: “What can a franchise do for me that I cannot do for myself?” HOME OUTLINE SUMMARY DISCUSSING QUESTION CASE STUDY introduction TO BUSINESS CONCEPT ENB201

  11. WHAT SHOULD WE LOOK FOR FROM FRANCHISERS? • A unique concept or marketing approach • Profitability • A registered trademark • A business system that works • A solid training program • Affordability • A positive relationship with franchisees HOME OUTLINE SUMMARY DISCUSSING QUESTION CASE STUDY introduction TO BUSINESS CONCEPT ENB201

  12. HOW TO BUY A FRANCHISE • Evaluate yourself – What do you like and dislike? • Research the market • Consider your franchise options • Talk to existing franchisees • Ask the franchiser some tough questions • Make your choice HOME OUTLINE SUMMARY DISCUSSING QUESTION CASE STUDY introduction TO BUSINESS CONCEPT ENB201

  13. WHAT ARE THE ADVANTAGES OF FRANCHISING? • Management and marketing assistance • Personal ownership • Nationally recognized name • Financial advice and assistance • Lower failure rate • Standardized quality of goods and services • Site selection and territorial protection HOME OUTLINE SUMMARY DISCUSSING QUESTION CASE STUDY introduction TO BUSINESS CONCEPT ENB201

  14. WHAT ARE THE DISADVANTAGES OF FRANCHISING? • Large start-up costs • Shared profit • Management regulations • Coattail effects • Restrictions on selling • Fraudulent franchisers HOME OUTLINE SUMMARY DISCUSSING QUESTION CASE STUDY introduction TO BUSINESS CONCEPT ENB201

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