Discussion What is a franchise? ‘Business format franchising’ franchise franchisor grants a licence to franchisee trades under name of franchisor
Discussion What types of businesses tend to be franchises? Fast food outlets? clothes stores? hairdressers? Can you think of any others? What popular franchises do you have in your country?
Setting up a franchise Put these stages of researching a franchise into the correct order. b) Decide how muchthree franchises and talk to some of the franchisees a) Shortlist two or money you can afford to invest and how much you need to borrow. businesses. running these d)b) Decidethe type of business you would like to operate in. Identify how much money you can afford to invest and how much you need to borrow. e) Contact the franchisees operating in that business and ask them to send c) When you have all the information you need, complete the application you information. form of the most suitable franchise. a) Shortlist two or three franchises and talk to some of the franchisees d) Identify the type of business you would like to operate in. running these businesses. f) e) Contactmarket research. operating in that business and ask them to Do some the franchisees send you information. c)f) Do some have all research. When you market the information you need, complete the application form of the most suitable franchise.
Setting up a franchise Maria mentioned these figures when talking about her franchise. Can you remember what they refer to? five or six times for three years five years ago € 50, 000 £ 12, 000 three months 50% £ 2, 500
Verb collocations a profit a phone call somebody a favour overtime homework a break a recommendation make business a chance an excuse do market research an arrangement an exam a decision a risk serious work take
Discussion made 1 What was the last big decision that you _______? 2 How often do you need to _____ a break from work? 3 When was the last time you _____ a risk? 4 What kinds of companies would you like to _____ business with? 5 Have you _____ anyone a favour this week?
we moved offices for last night 9 o’clock five hours nearly a year Tuesday 2008 yesterday’s meeting a long time my birthday two weeks ages since
Asking questions Question Answer 1 Max has lived in Hong Kong since 2000. 2 She’s been in charge for six months. 3 They’ve owned stores in the US for three years. 4 I’ve known about the takeover for a few days now. 5 He’s been ill since last Thursday. 6 We’ve had this problem since the new machinery was installed.
Discussion Travelling by air – what do you need to do? duty free shop passport control departure lounge check in desk security check
Discussion Travelling by air – what do you need to do? check in desk security check passport control duty free shop departure lounge
Handling questions No, on the contrary I’m afraid I can’t go into the details here That’s a very good question OK, I’m glad you asked me that Some people say that, but it isn’t A Prepare to talk for two minutes about your plans for the future. Where do you see yourself in five years time? B Prepare a list of questions to ask your partner.
Notes: Positive points Location Infrastructure (roads, railways) Staff Suppliers Constructing the factory Negative points Cheap land No problems to expand Flat area, near large river, flooding? High humidity, parts would be kept inside Good rail connections to Mumbai No plans for highway Road connections poor, especially in monsoon. Highway won’t be finished for years Plenty of skilled workers as small factories in area already Need to invest in some retraining programmes Lots of suppliers in area None of local suppliers have necessary control units. Will need to fly in from UK at start Only six months With paperwork could take up to a year
Are you a risk taker? 1 Where would you put yourself on this scale? Give reasons. 1 hates risk 2 3 4 5 loves risk 2 Give some real life examples when you have taken or avoided taking risks. 3 Would you like to set up and run your own business? Why not?
Name of franchise Established Finnley’s 2000 Business area Home care Franchise fee £ 20, 000 Cost of fittings etc. No. of franchises Typical customers Growth potential ? 300+ Disabled and/or older people High Toasties 1999 Classic Cotton Clothes 1989 Convenience food € 7, 500 € 60, 000 530 Young professionals, office workers, students ? Organic clothing £ 18, 000 £ 30, 000 -£ 40, 000 Almost 100 People in late twenties or thirties High
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