Selecting a Franchise
There are three basic categories of business: Making a product (manufacturing), selling a product (retail or wholesale sales), or providing a service.
Starting your own business may be a risky venture. Before starting out entirely on your own, you might give some thought to franchising. A franchise with a well-known, well-established company is far less risky than starting out entirely on your own. However, in return for the help of the parent company, you give up a considerable amount of independence and usually have a large initial cash outlay. Under the franchise system, you have access to a ready-made product or service, complete with image, logo, trade secrets, and national advertising.
The Task
Choose five franchises that are of interest to you. Using the Decision-Making Matrix, determine which franchise would be the best choice for you.
Resources
The Internet is a valuable source of information for researching various franchises. Three WWW resources that are useful for information on established and up-and-coming franchises are: Franchise OnLine, BISON and Entrepreneur Magazine. In addition you may want to try to locate a franchise's home page directly by using a search engine (Search Tools) or entering the company name in the "Open Location" button on the browser bar; e.g. " blimpie".
Learning Advice
1. Become familiar with the Decision-Making Matrix.
2. Examine Web sites on franchising.
3. Determine criteria to be used in the Matrix.
4. Select five franchises of interest to you and enter each on the Matrix.
5. Decide on your top two franchise choices.
6. Contact (E-Mail or regular mail) your top two choices to obtain more complete information.
7. Select your top franchise and in written form, justify your choice.
8. The final project should include your complete Decision-Making Matrix and a one-page, single spaced typewritten report on your final franchise choice. Included in the report should be your reasons for selecting this franchise, based upon the Matrix findings and your business intuition.
Rubric for graph
An exemplary 4 on a 4 point rubric must meet the following criteria:
1) Information is displayed on an appropriate form
2) Data are clearly identified and easily read
3) Only pertinent data are included
4) Data are represented correctly
5) nterpretations can be made from the graph
6) Explanations (oral or written) accompany the graph
Search Sites
Use these search tools for keyword searching.
Documentation
For instructions on documenting Internet sources, refer to Citing Internet resources.
Created by Ms. Slessor and Mr. McCright
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