Franchising Assignment Help
Opening up of franchises create new opportunities for a business. It is the way a business expansion takes place. But certain factors must be taken into account before setting up a business franchise such as the cost involved and the associated benefits. The feasibility study identifies whether the business can be franchised or not. Today franchising business is helping many individuals to own and operate a business. There is usually a higher possibility of success when a person opens a franchise as a proven business formula is already in place. The products and business operations are already established. It is an integral topic for the marketing management students and they are often given assignments on franchising, which make the students take Franchising assignment help from BookMyEssay.
Before undertaking an assignment on franchising, students need to do a feasibility study whether the franchise can set up or not. They need to conduct primary and secondary research on the topic. The feasibility study includes market analysis, SWOT analysis and a lot of research from the internet, books, and journals. Students often find them difficult due to lack of time and skills. At the same time, submitting high-quality assignments are of utmost importance because it is directly linked to the grading system of examination. When the students take Franchising assignment writing help, we help them to get good grades as well as aid them to submit high-quality assignment writings. Our assignment includes everything about the franchising business right from the cost to an in-depth feasibility study.
Concept and Features of Franchising
The franchise is a special right given by the owner of a product to another firm for selling his product in a particular locality. Franchising is a contractual relationship existing between the company providing the franchise, known as franchiser to a company undertaking to sell the products of the franchise, known as the franchisee. In a franchising system, the manufacturer grants exclusive right to sell his services or products in a particular area. The retailers should sell and promote the product in a specified manner. The terms and conditions between the franchiser and franchisee are laid down in the written agreement. A franchiser may have multiple franchisees for pushing up the sales.
The salient features of a franchising include the following:
- The franchiser owns the service and trade mark and permits the franchisee to use them under a license.
- The franchise makes payment of the license fee and becomes a part of the network. An initial payment needs to be made rather than a regular license fee. There is an agreement on the sales or profit percentage that is to be paid to franchiser by the franchisee, monthly or annually.
- The franchiser provides the marketing support and the equipment and systems support for continuing the business in a particular manner.
- The franchisee is required to follow the policies for the mode of business operation. The franchisee should maintain a specific decor in the business place.
- The franchiser arranges for training of personnel in the organization. This is quite common among the restaurants and fast food chains.
To select a franchise, consider the factors like:
- The demand for the franchiser’s products and services, competition, the background of the franchisor, the level of support and the ability to operate on its own.
- Whether the demand for the product is seasonal or continuing in nature?
- What is the competition level or are there any competing companies that sell similar products?
- Whether the franchisee can operate on his own if the franchisors run out of business?
All these critical factors must be taken into account for writing assignments on franchising. Many students find it quite problematic and hence, seek Franchising Assignment Help from BookMyEssay.
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