services that the franchisor will provide. The franchisor needs to write down the vision, goals, and objectives to be accomplished by the franchise organization. Based on the study case, Yvonne’s business is rugs in the latest styles and colours which is the business rapidly growing market thus she wants to franchise that easy to her customers to buy the products in everywhere. Next, Yvonne had to do administrative development which is centered on the organization of the business, necessary finances, and required human resources. This organization is generally divided into two major functions which franchise sales, and operations. The financial section is concerned with how much money it takes to start the headquarters franchise system. For the human resource management section, Yvonne should focus on staffing and human resources needed to run the franchisor business. The next level, Yvonne need to turn to the functions and operations of the headquarters organization. This include advertising, accounting, pricing suggestions, marketing, production, training, distribution, operations, field staff, market research, and management. Yvonne must put together an organization that will optimize the delivery of services to existing and prospective franchisees. In addition, Yvonne should develop an incentive
system that will encourage and support the franchisees as she will be the franchisor. 3. What else does Yvonne need to know before franchising? Yvonne need to know that she have the entrepreneurial spirit for being franchisor or not. The prospective franchisor/business owner is willing to influence change. Often found among successful franchise entrepreneurs are traits such as willingness and interest scan for opportunities, taking initiative and action, and then persevering to reach closure on the opportunity. This type of person, as founder of franchise, incorporates such traits into the firm’s strategy, continually searching the marketplace for new opportunities to expand the franchise businesses. Next, Yvonne should consent about the products and services that she will be provided. Step away from your own biases about the products or services that provide to a customer. Yvonne should know what the customers really thinks about the products and services thus customer’s point of view
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- Spring '17