Franchising Allows Businesses to Tap into New Markets (Essay Sample)
The different types of tasks included:
-A research essay
-An entrepreneurship task
-A marketing task
-A finance task
Research Essay:
It was on a health topic. The research essay required me to investigate the topic of the critical health concerns we face i the 21st century in depth and write a a detailed essay. In this task, I discussed all the current health issue including the Covid 19 pandemics among many other concerns. I did this task in the English language and I used 7 references to help me dicuss the issue fully.
Entrepreneurship Task:
The entrepreneurship task required me to discuss about four reasons why organisations should seek opportunities for innovation. I did this task using the Spanish language and the number of references I used were three.
Marketing Tasks:
Three tasks were done under this topic, one was done in the English language and the title was about the pros and cons of owning a franchise. six (6) references were used in this discussion. The second task was done in the spanish language and the title and content was about the usefulness of the stages of job analysis in an organization. I used five references to help finish this task. The third task was written in the German language and no references were used. The marketing task required a discussion on the pros and cons of buying foreign products into a given economy. An analysis was done on the two o note the advantages and disadvantages of doing so
Finance Task:
This task was done in the English language and one reference was used. The finance task was actually a problem case study in a banking environment. It was required for one to rule and make a decision if whether the accountant had made the right decision in hiding a potetial violation of company policy.
Franchising Allows Businesses to Tap into New Markets
The word “franchise” comes from the Old French word franchir, meaning “to free.” When a user franchisor grants a franchise to a franchisee, they are essentially giving the franchisee the freedom to operate their business according to the franchisor’s successful business model. The franchisor provides the franchisee with guidance and support in order to help them be successful. In return, the franchisee pays the franchisor a fee and agrees to follow the franchisor’s methods and procedures.
Franchising allows businesses to tap into new markets and to grow at a much faster pace than they would be able to if they were expanding on their own. There are many factors to consider before taking the plunge – here are some of the pros of owning a franchise.
The first advantage of owning a franchise is that you’re in business for yourself, but not by yourself. Franchising provides the opportunity to be your own boss, but with the support of a larger organization. This can be beneficial as it can provide access to resources and expertise that may be difficult to come by on your own. Additionally, being part of a larger organization can provide some level of stability and security. When you buy a franchise, you are buying into an established brand and business model. This means you have the support of the franchisor and other franchisees, and don’t have to go it alone.
The second advantage of owning a franchise is that it is a proven business model. This way it provides a clear path for entrepreneurs to follow. This can be helpful for those who are looking to start a business but don’t have a lot of experience or knowledge in the area. Having a proven business model to follow can help reduce the risk of failure and increase the chances of success. Moreover, it can provide entrepreneurs with access to a larger customer base. This is because franchisees often have the ability to market their business to a wider audience than they would if they were operating independently. This can help increase sales and profits.
Provides a turn-key operation for the franchisee. This means that the franchisor has already established the business model and has a proven track record of success. The franchisee can simply purchase the franchise and then follow the franchisor’s proven system. This can be a great advantage for someone who wants to start their own business but doesn’t want to go through the process of developing a new business model from scratch.
Other Topics:
- The Pros and Cons of Owning a FranchiseDescription: The word “franchise” comes from the Old French word franchir, meaning “to free.” When a user franchisor grants a franchise to a franchisee, they are essentially giving the franchisee the freedom to operate their business according to the franchisor’s successful business model. The franchisor provides the ...15 pages/≈4125 words| 30 Sources | APA | Business & Marketing | Essay |
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