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Transcript of Franchise
Hilton Hotels and Resorts
Advantage Rent a Car
Avis Rent a Car
Payless Car Rental Ray Kroc small entrepreneurs small entrepreneurs small entrepreneurs CREATOR OF WORLD'S BIGGEST FAST FOOD CHAIN THE REAL INVENTOR OF FRANCHISE Martha Matilda Harper Secret formula shampoo
Scientifically proven Problems Ambitious-
Make more money
Start a public hair salon 1st Problem -Never happen before 70% of woman joined labor force, but not even 1
public salon for skin care and hair dressing is ever establish NO, you can't rent a place to break the norms 2nd Problem- Sickness Sick, cure by christianity FRANCHISE ORIGIN Combine shampoo and God, Spiritual beauty and Physical beauty People urge to start one salon in their town The Origin of Franchise How about using her theory, her shampoo but operate by different person 500 SALONS around the globe Training and support Training are provided We got your back We ensure you success in your business, because when you fall
we fall You didn't just buy our name, you buy our model as well congratulation you just bought our name, product and reputation Name- you bought the fame of the parent company Product- you bought the product of the parent company Reputation- you bought the reputation of the product Bargaining Power Bargain with the suppliers You usually need to earn bargain power, but not any more Expert Support Your business will be guided Your business is not longer alone Expert advice No Control Rules are already established It is rare that it operates differently Risk from Others Other companies might damage your business's reputation Lose your costumers and damage your sales and profit Tied to Suppliers Franchise Cost Little creativity Food McDonald
Haagen Daz Hotels Cars Well Capitalized H igh survival rate Certain amount of input, not over commiting most newly establish company just don't know how or when to commit
which leads to quick downturn What is Franchise--- Martha Matilda Harper created the concept of Franchise Franchise has its own advantage and disadvantage Required to use franchise supply network Tied by the franchise agreement Pay an initial cost to buy the agreement Pay for support and training franchisee For 4 Types of Franchise Single Unit Franchise Multi- Unit Franchise Area Development Master Agreement Most common type Responsible of running 1 unit Best way to gain understanding of franchise Involved with almost all operations Can open more than one unit Less involved in each unit Right to open certain number of franchise in an area Special licensing pricing No other franchise is allowed to open near your area This agreement is rare Has all rights to an area developer and assumes a larger ares Receives a part of ongoing royalty paid by franchisee On-going royalty pricing Video