International Franchising Advantages and Disadvantages

International Franchising Advantages and Disadvantages Introduction Buying a Franchise offers many benefits over starting a business on your own. The franchisees benefit from the training and ongoing support that they receive whilst trying to make their business successful. People starting a business on their own often have no help or guidance in the day to day running of the business! The franchisees receive guidance on location, fixtures and fittings, marketing and operation of the business model. This guidance is based on years of experience the franchiser has gained not only from running the business model but also from advising other franchisees. Buying a franchise business is at least a five year commitment and as such should not be taken lightly. It is important to make the right lifestyle choice rather than basing the decision to buy purely on profitability of the business model. A prospective franchisee should always look at the market trends to ascertain whether the need and requirements of the products of the franchise opportunity are predicted to grow or decline over the medium and long term. Getting advice from an experienced accountant can help in this respect. What makes the franchisers products better than the competition? Is the franchisor continually investing in improving the products to reflect changes in latest trends and requirements of the customers? Analysing which products have been changed and new ones introduced over the last five years will help in this regard. The territory is just as important as the franchise model. Not all franchises work in all territories as each area has their demographics and buying patterns. Decent knowledge of the local area is invaluable and the choice of which type of franchise business to buy should be made with regards to this information. Making the right choice of franchise that is based on individual skills as well as the individual requirements of each particular territory should serve to ensure that the business model works both in the short term and the long term International Franchising International franchising refers to a domestic businesss expansion into foreign countries and markets. International franchising is a complex process that requires thorough considerations of many factors, such as feasibility, adaptability, and benefits versus risks. Replication: During the process of international franchising, companies often strive to replicate successful domestic business models in foreign markets. Challenge: Differences in language, laws and financial systems, between franchising business and host foreign market can pose serious challenges during international expansion. Benefits: International franchising means new markets with new customers and selling potentials. International franchising also places companys name and presence in a global market. Adaptability: learning to adapt to the needs and demands of a new foreign market can attract local customers and buyers and lead to higher business success in a new country. Counsel: International franchising experts help companies understand a foreign market before expansion. Consultants advise businesses on a number of subjects, from financing to culture gaps. Advantages: There is a higher likelihood of success since a proven business formula is in place. The products, services, and business operations have already been established. Bankers usually look at successful franchise chains as having a lower risk of repayment default and are more likely to loan money based on that premise. The corporate image and brand awareness is already recognized. Consumers are generally more comfortable purchasing items they are familiar with and working with companies they know and trust. Franchise companies usually provide extensive training and support to their franchisees in effort to help them succeed. Many times products and services are advertised at a local and national level by the main franchise companies. This practice helps boost sales for all franchisees, but individual franchisees dont absorb the cost. Disadvantages: Franchises can be costly to implement. Also, many franchises charge ongoing royalties cutting into the profits of franchisees. Franchisors usually require franchisees to follow their operations manual to a tee in order to ensure consistency. This limits any creativity on the part of the franchisee. Franchisees must be very good at following directions in order to maintain the image and level of service already established. If the franchisee is not capable of running a quality business or does not have proper funding, this could curtail success. Sometimes franchisors may be lax on their commitment to support the franchisee. Also, they may make poor decisions that would have an ill effect on the franchisee. Therefore, it is important to research any franchise concept thoroughly before signing any agreements. Benefits on International Franchising Purchasing a franchise is one way for an entrepreneur to get started in business. Franchises offer a proven business model to follow as well as support in areas like financing and training. International franchises can provide the opportunity to take advantage of growing global markets, although the franchisee will need to overcome the hurdles associated with adapting to the ways of a new country. Cultural Adaptation Franchises provide the business owner with a full range of support services. This proves beneficial when it comes to adapting to the ways of a foreign country. The company can help you hire local management and workers who are familiar with the methods of doing business in the country, which can make the transition much smoother. Business Expansion If you already own an established franchise and are looking to expand, adding units in another country can provide a more profitable alternative to an already saturated market. This is particularly meaningful if you sell a product or service that is rather common in your home country. Cornering the Market You may even be fortunate enough to open a franchise in a country where there is little competition and there is a great need for your product or service. This will enable you to corner the market and possibly open several locations, establishing you as the leader in your business before the inevitable entrance of competitors occur. Change of Lifestyle Owning a franchise in another country can result in a new and exciting way of life. Franchisees from a cold climate may relish the opportunity to move to a warm, sunny locale to open a business. Some may also look forward to expanding their horizons by experiencing and assimilating into a new culture. Taking Advantage of Growth If current franchisees are experiencing slow business due to the home countrys stagnant economy, they can seek to open another unit in an area experiencing strong growth. Countries and areas exhibiting growth as of 2010 include China, Latin America and the Middle East. Advantages of international franchising Franchising is a unique form of business arrangement. The original company (called the franchisor) enters into a contract with a second business (called the franchisee) in which the original company offers the second business the right to operate under the original businesss name and the right to sell its product. The franchisor usually offers guidance and expertise to the franchisee. All of this is done for a fee, and though having a franchise isnt the same as starting a business from scratch, there are a number of advantages to the system. This is also true for international franchises. Reputation The major benefit of a franchise is that franchises reputation. If a franchise is well known for offering a certain type of product or service and a new branch of that franchise opens up locally, then people know roughly what to expect. For international franchises there are some additional issues of reputation to consider. For instance, the country of origin that the franchise comes from could be viewed as exotic, which will bring in additional business. Financing Franchises are viewed as a business plan thats already undergone a trial by fire and succeeded. Generally speaking, this makes them much easier to finance, as far as getting loans from banks is concerned. If a franchises reputation and success can be clearly shown, then the bank knows the franchisee has a much better chance of succeeding than he would if he were trying to start up a new and independent business. This is even truer for companies that are known internationally, which makes banks feel even more generous when it comes to assisting with business financing. Support Regardless of whether or not the franchisee sets up in the franchises hometown or on the other side of the world, an international franchise has the capability of extending support, advice and training to franchisees. The franchise offers training manuals, access to supply networks, advice and other forms of help to the franchisees. This is especially true where an international franchise is concerned, because every franchisee impacts the franchises reputation and reach. If all of the franchisees do well, then it will increase the franchises reputation, reach and even their brand recognition. Franchising primary benefit is risk minimization. Starting a new business is risky. Most studies show that over 90 percent fail within three years. The primary reason that the failure rate is so high is because the owners have to go through the learning curve of operating that specific type business. Franchising reduces that curve substantially. Another reason to buy a franchise is that a franchise investment can be thoroughly researched before any significant expenditure is made. Existing franchisees offer a wealth of information about the business so that new franchisees can try the business on before they buy to make sure its a good fit for them. Franchisers sell a defined, proven business format or method of operation, offering a product or service that has sold successfully. An independent business is based on both an untried idea and operation. The experience of the franchisers management team increases the potential for success. This experience is often conveyed through formal instruction and on-the-job training. Franchisees can often buy lower-cost goods and supplies through the franchiser, resulting from the group purchasing power of all the franchises. Established franchisers offer national or regional name recognition. While this may not be true with a new franchiser, the benefit of starting with one is the potential to grow as its business and name recognition grow. Franchising provides a uniform system of operation, so that consumers receive uniform quality, efficiently and cost-effectively. A uniform system brings with it the advantages of mass purchasing power, brand identification, and customer loyalty, capitalizing on the proven format. A franchiser also provides management assistance, including accounting procedures, personnel and facility management. An individual with experience in these areas may not be familiar with how to apply them in a new business. The franchiser helps a franchisee overcome this lack of experience. Franchisors help franchisees develop a business plan. Many elements of the plan are standard operating procedures established by the franchisor. The most difficult part of a new business is its start-up, since even experienced managers lack the knowledge to set up a new business. One of the biggest benefits to franchising is marketing. The franchiser can prepare and pay for the development of professional advertising campaigns. Regional or national marketing done by the franchiser benefits all franchisees. In addition, the franchiser can provide advice about how to develop effective marketing programs for a local area through a cooperative marketing fund, to which the franchisees contribute a percentage of their gross income. Its possible to receive assistance in financing a new franchise through the franchiser, who often makes arrangements with a lending institution to lend money to a franchisee. The franchisee must still accept responsibility for the loan, but the franchisers involvement usually increases the likelihood that a loan will be approved. A franchiser also provides training for the franchisee. This is especially important if the concept is complex. The best training combines classroom or one-on-one training at the franchisers facility with field training at the franchisees place of business. Finally, franchising has found a solid economic niche that caters to specialized needs. Many American consumers no longer want a muffler installed by a service station, a hamburger from a diner, a pizza from someone who wont deliver it within 30 minutes or their hair cut by a local barber. Specialists, it seems, do it better, and the franchise industry is only too willing help. Once you become a franchisee and part of a franchise organization, What are your roles and responsibilities? Financial The first function you have in your new endeavour is as an investor into your business. You will need to invest financially with an initial franchising fee, but also be prepared to pay any additional costs that might be necessary to get the business up and running such as equipment costs. Also, there will be ongoing royalty fees that you will need to be aware of. Time Secondly, you will need to be sure that you can invest an adequate amount of time in the business. Although the system is basically set up in franchising, you will still need to initially spend extra time learning how the system works. The franchisor usually offers training and continuous support, hence the ongoing royalty payments. Like anything else, once you know the ins and outs of the system, the time investment decreases somewhat. Leadership and Partnership One of the most important skills you need to possess as a franchisee is the ability to be pro-active and take initiative. You should be able to easily assume a leadership role. You need to be certain that you understand how the entire system works and not be afraid to ask the franchisor questions. It is especially important to communicate with the franchisor anything that you notice that doesnt seem right to you. After all, you are basically assuming a partnership role with the franchisor. Therefore, you should be able to work together, share ideas, and resolve issues together. You may notice something that the franchisor was not aware of since you are much closer to the business. The franchisor would probably appreciate your bringing concerns or discrepancies to the table, especially if you offer possible solutions. Communication With all of the responsibilities that the franchisee holds, communication and organizational skills are key skills to possess as a franchisee. As mentioned, it is important to keep in close communication with your franchisor. In addition, you will need to be able to communicate effectively with your customers, employees, vendors, and other business contacts. Furthermore, it can be quite beneficial to team up with other franchisees on a regular basis. It can help you run your business more smoothly if you share ideas and solutions to problems experienced with others in the same capacity. Organization In your role as franchisee, you should be prepared to wear many hats. In operating the business, you will most likely have to manage all the daily operations involved in operating a business, including ordering supplies, meeting with customers and vendors, preparing payroll, resolving discrepancies, etc. These are just a few of your sub-roles depending on the type of business you are running. It is essential to be able to organize all of your responsibilities so that everything gets done accurately and in a timely manner. In conclusion, as long as you understand your role as a franchisee and make every effort to carry it out thoroughly, you should be able to manage a successful franchise.

Private and Public Notes of a Native Son Essay -- James Baldwin

The Private and Public Notes of a Native Son The middle of the twentieth century saw the height of the civil rights struggle of African Americans. Amid this tumultuous era rose up a generation of prominent African American writers, and among them was James Baldwin. In â€Å"Notes of a Native Son,† an essay that he wrote more than a decade after his father died, Baldwin recalls and reflects on his troubled interaction with his father, a man whom he has hated all his life. His vivid narration of his father and his personal encounters around the time his father died reveals the evolution of his view on the racial issues in America. Baldwin extensively draws on his past experience as an embodiment of the public experience shared by many other people to make a strong case for his argument. James Baldwin never fails to express his disgust for his father. Not far into the essay, he reminds the reader of the two race riots in 1943, and he mockingly describes this state of instability and social discontent that coincided his father’s death as â€Å"a corrective for the pride of his eldest son† (63). According to Baldwin, not only did his father always fail to establish contact with people, including his children, he attempted to keep his children from contact with the outside world. He forbid his children to play Louis Armstrong’s records, distrusted all white people, and constantly associated his children’s friends with the devil. Although he had good intentions, he never managed to convert them into pleasing deeds, and he, in Baldwin’s own words, â€Å"treated almost everybody on our block with a most charitable asperity† (67). Baldwin’s mental image of his father is little short than that of a tyrant. This com parison is ... ...hich, in his case, were his dead father and his new born sister. To believe in unimportant things such as skin color will only led to one’s destruction, because, as he comments, â€Å"hatred, which could destroy so much, never failed to destroy the man who hated.† (84). He maintains that accepting things as they are while at the same fighting with one’s full strength against injustice are two conflict ideas that one has to hold in mind. Baldwin does not intend to teach his moral discovery to the reader as an absolute truth. In fact, he concedes that he too has questions that the future will answer. However, supported by his narration and analysis of his private and the public experiences, he makes a strong argument. Works Cited Baldwin, James. â€Å"Notes of a Native Son.† 1995. James Baldwin: Collected Essays. Ed. Toni Morrison. New York: Library of America, 1998. 63-84.

Tiger Woods

Yes, we all know the stories given to us by the news, media, and internet. Tiger Woods did wrong and shared his spotlight of shame and pain. True enough he was not liked by many, but who don’t make mistakes? As an outsider that doesn’t watch golf as much, I feel that time has passed and it can be forgiven.For sake of an argument Tiger has won 95 tournaments, 71 of those on the PGA Tour, including the 1997, 2001, 2002 and 2005 Masters Tournaments, 1999, 2000, 2006 and 2007 PGA Championships, 2000, 2002, and 2008 U.  S. Open Championships, and 2000, 2005 and 2006 Open Championships. With his second Masters victory in 2001, Tiger became the first ever to hold all four professional major championships at the same time.He is the career victories leader among active players on the PGA Tour, and is the career money list leader. Not surprisingly, several of Tiger’s sponsors have now opted to abandon their alliance with him, citing his moral indiscretions as sufficient justification for this decision. But is this the right thing to do?Does the fact that Tiger Woods is not the high-quality person that we took him to be somehow negating the fact that he is an excellent golfer? Are we guilty of a category mistake if we suggest that Tiger’s sponsorships, or his opportunities to play golf, should be taken away because of his ridiculous behavior? There are two ethical questions at work here. The first question is whether one should be punished in their professional life for actions in their personal life. The second is whether it is morally justified to break a contract because of immoral behavior.I will here argue that the answer to the first question is no, while the answer to the second question depends on the nature of the contract. Some individuals, rightly appalled by Tiger’s actions, have suggested that the PGA should punish him, perhaps by suspending him from future tournaments. There are two reasons for rejecting this suggestion. There is a strong precedent against doing so, and such a response threatens to unacceptably blur the line between the public and the private sphere.Many famous people have committed scandalous actions that irreparably damage their public image. Kobe Bryant’s recent Colorado rape trial is a prime example of this. But no one suggested that Kobe not be allowed to play basketball. Magic Johnson contracted HIV through extramarital sex, but he was treated with warmth and benevolence rather than scorn. Michael Jordan had a notorious gambling problem, but he is hailed as the greatest player of all time. Why should Tiger be treated differently? There is a more general concern with abandoning this precedent.Golf is Tiger Woods’s job. There is no expectation, or requirement of employment stating that one must be a good person in order to be a good golfer. We tend to think that whether one ought to be retained in a particular job position depends on whether they are qualified for the job, rather than whether they are a generally decent person. Suggesting that Tiger, Kobe, Magic, or Jordan should not be allowed to pursue their profession in virtue of their personal indiscretions would amount to a unique kind of discrimination.From the standpoint of employment qualifications, one’s sexual behavior is usually an irrelevant consideration. This brings me to the second consideration concerning punishment in one’s professional life based on actions in one’s personal life. We tend to think that there is an important separation between one’s public life and one’s private affairs. When one is a celebrity like Tiger Woods, this line is blurred considerably, and one might claim that the loss of this distinction is the price one pays for fame.However, this imposes an arbitrary constraint on a person’s individual freedoms. If one has a right to the maintenance of a public and a private sphere, the fact that a person is famous is n ot obviously a reason for violating this right. The second ethical question raised by the Tiger Woods affair scandal concerns whether it is ethical to break a professional contract based on a person’s actions in their personal life. This is a complicated question, and I will limit the discussion to one pertinent facet of it.If Tiger Woods was hired as an endorser because of his public image and persona, and not merely because he is a good golfer, his sponsors are justified in abandoning their professional relationship for his personal actions. Consider the nature of the contract in question. Companies have hired Tiger because they believe an association with him will help them to sell their products. Tiger’s role in the contract is presumably to maintain himself as a positive force for this purpose.If Tiger has agreed to this type of relationship, anything he does that hinders his effectiveness as a marketing tool would be a violation of the contract. While we have rea son not to punish Tiger professionally, as a golfer, for what he has done in his personal life, we also have reason to punish him professionally, as an endorser, for the same actions. Virtue ethics is somewhat helpful in understanding this distinction. Tiger’s extramarital affairs do not make him a bad golfer, but they do make him a bad endorser.Different standards are at work when we evaluate Tiger the golfer and when we evaluate Tiger the endorser, and only in the latter case does his personal conduct make a relevant difference. We have thus reached an interesting conclusion. First, standards of personal conduct are only relevant to one’s professional life if the nature of one’s profession dictates as much. This leaves us with a mixed evaluation of Tiger Woods. It seems we can endorse his lost endorsements, but not any punishment from the PGA, for his extramarital affairs. It also helps us to understand how other celebrity scandals have been perceived.While Ma gic, Kobe, and Jordan are still good basketball players even though they are not particularly good people, someone like Bill Clinton harms his credibility as President in virtue of inappropriate personal conduct, because appropriate personal conduct is part of the President’s job description (or so it would seem). Our own mixed reaction to Tiger suggests that he is somewhat unique, a mixture of celebrity and quasi-statesman that we want to hold to a higher standard of conduct, despite having no good reason to do so. References (PGA TOUR, Inc. , 2010) http://www. pgatour. com/players/00/87/93/

Similarities And Differences Between Jane Eyre And Brillette

Agnieszka Lewczuk Engl. 319.77-01 Prof. Abigail Burnham Bloom 12/12/2017 Final Exam Wuthering Heights, Jane Eyre and Villette are three of the great novels that were written by Bronte sisters. Emily Bronte, and Charlotte Bronte that were a part of the Bronte literary family. The novel Wuthering Heights was written by Emily Bronte and was her first and only published novel and it was published in 1847. The book wasn’t an instant success but it changed many years later. Jane Eyre and Villette are novels that were written by Charlotte Bronte, who was the oldest child and she was a great English novelist and poet who published most of the novels in her family. Besides Jane Eyre and Villette she published two other novels, Shirley and†¦show more content†¦Therefore, often the narrator may narrate the story in the way to, for example, justify her actions or behavior. However, Jane sometimes is not a very clear and straightforward narrator, she does keep attention to giving the reader a lot of significant details but she also compels the reader to read between the lines. Jane is a pretty good storyteller, and she does tell a lot about what is going around her and about all the events that are happening, however, often she does not tell too much about what is happening in her head and about her own thoughts. She does try to explain how she makes her decisions and sometimes how she feels but somehow, she is not very deep in the explanation of her feelings. It is like she suppresses those intensive feelings in herself and she tries to be seen as more calmer and composed person. Another aspect of Jane as a narrator of the novel is that she does seem to be the self-conscious narrator of the story. She does write it as a flashback because while she tells the story to the reader she looks at her own life at a distance of ten years after everything had happened. This can influence the narration a lot, mainly because she already is aware of what happened and she knows all the events, and she may