The Success Of A Franchise Essay - 1877 Words

A franchise is a business that distributes goods and services through a licensing relationship. This process is referred to as franchising. In franchising, there is a franchisor who is either a person or business that grants a license to a candidate to manage a business with their identity and products in return for intermittent payment of fees back to the company for the rights. The franchisor not only allows the new franchisee, the candidate that applied for the franchising license, the uses of their identity and products but also provides an operating system, the brand and any support they might need at any point. Franchising goes back to the middle ages when land owners would grant rights to peasants to hold markets and conduct business. Ray Kroc is credited with delivering the form of franchising as we know it today. Ray discovered the McDonald brothers’ hamburger stand back in 1954. The brothers had created a high-volume production system that allowed them to provide fa st service with consistent results at a low cost. Kroc became the brothers’ licensing agent and went out to Chicago recruiting franchisees. Today, McDonalds has over 36,000 restaurants worldwide and continues to grow their franchise each year. Buying the rights to a franchise has many advantages and disadvantages. There are many advantages to buying into a franchise. This form of business offers the feel and freedom of being a small business owner while being supported by a big business network.Show MoreRelatedThe Success Of The Franchise Industry1372 Words   |  6 PagesThe franchise industry is an industry that is highly visible to the public eye; mainly because of such names as McDonald’s, Kentucky Fried Chicken, Popeye’s, Burger King, Starbucks and the like. They all fulfill a service which the general public supposedly needs. From a simple fried chicken leg, to a strong cup of specialized coffee, or even a set of bed linens, they all serve a general purpose. Each one supplies the public with goods and services at a cheaper price. The people or individuals whoRead MoreEssay on The Success of the McDonald’s Franchise 1267 Words   |  6 Pagesflexibility that owning a business franchise creates provides this option. Success is not reached by simply creating a business, however. The level of success is measured by the size and efficiency of the business. Business growth is the driving force of the economy. The additional jobs and revenues created when a business expands allow the economy to grow at exponential rates. One of the fastest and most popular ways to increase the size of a business is to turn it into a franchise, which can then be purchasedRead MoreFranchising Is The Single Most Successful Marketing Concept Ever1192 Words   |  5 Pagesits success based on a widespread practise in capitalistic societies, known as franchising. Many entrepreneurs (the franchisees) have chosen to acquire a franchise to access the knowledge, the trademark, and the processes of a corporation (the franchisor); in o rder to sell a product, or provide a service under the business’ name. In return, depending on the franchise contract, the franchisee usually pays additional money for the start-up of his company, and annual licensing fees. Franchises are extremelyRead MoreFive Guys Business Analysis1162 Words   |  5 Pageschain that originated in Arlington, Virginia[-0] within the Washington Metropolitan Area[-1]. The chain sells mainly hamburgers[-2], hot dogs[-3] and French Fries[-4]. Five Guys enterprises has grown from a single family owned restaurant to a franchise with 450 locations in thirty states. Five Guys opened its doors to Arlington, Virginia in 1986. The restaurant was started by four brothers who were given the choice to start a business or go to college by their parents. The burger and fry shopRead MoreCompetative Advantages and Disadvantages of Subway Essay849 Words   |  4 Pagesallows its franchise to choose their own food suppliers, to ensure they can access the f reshest ingredients from their local markets. This gives Subway a competitive advantage by enabling them to produce nutritious sandwiches with the freshest ingredients. Hence their catch advertising tagline – â€Å"Subway – eat fresh.† A big reason for Subway’s efficiency success is due in part to Subway’s operations manual. Subway stores operate like a well oiled machine. When you enter a Subway franchise your willRead MoreMadison Square Garden Company Report1676 Words   |  7 Pages†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 Recommendations †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 6 References †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 7 ABSTRACT The Madison Square Garden Company is one of the worlds’ few publically traded sports franchises with a long history of success. Starting up in the late 1800s in what is now the entertainment capitol of the world the Madison Square Garden Company has served as one of the world leaders in the entertainment industry and transformed into what is easily consideredRead MoreHow can Marketing mix model help Manchester United build its global brand?1165 Words   |  5 Pages Franchise is the best way to run an international business Name: Chao CHENG Tutor: Fraser Hamilton Date: 25/11/2013 Course: Academic Skills Table of Contents 1.0 Executive Summary....................................................................3 2.0 Introduction................................................................................3 3.0 Main Section.............................................................................Read MoreMcdonald’s Research Paper1394 Words   |  6 PagesThe Global Success of McDonalds MBA/521 Jan-7th-2012 Abstract When people think about the franchising concept, McDonalds usually comes up first as a prime example. Although McDonalds was not the first franchise business Isaac Singer, the inventor of the sewing machine gets credit for originating the franchise idea-the hamburger chain certainly exemplifies franchising success. The first McDonalds restaurant was opened by brothers Dick and Mac McDonald in 1940 on Route 66 in SanRead MoreThe National Football League : An Overview1059 Words   |  5 Pagesmagazine in an article analyzing the most valuable sports teams of the world, The NFL landed the most teams in the top 50 with 20 franchises(Badenhausen, The World s 50 Most Valuable Sports Teams 2015). The following statistics will be used to determine what causes the value of NFL franchises. There are many factors that can influence the value of an NFL franchise however I have narrowed it down to variables that I believe directly affect the value of an NFL team. Using a sample of the 32 NFLRead MoreMcdonald s And The Conventional Franchise Agreement Essay1150 Words   |  5 Pageshamburgers, chicken nuggets and french fries, and its growth is showing no signs of slowing down. A large part of McDonald’s success is due to its franchises, which currently take up 80% of their restaurants worldwide. Th e McFranchise, a coined term for McDonald’s franchises, has proven to be very lucrative not only for the company, but also for the franchisees. To become a direct franchise can be a difficult process, because the corporation holds its standards high and are very exclusive on whom they approve