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University of Notre Dame *

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Nov 24, 2024

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FRANCHISE AS A SMART BUSINESS SOLUTIONS Name of the student: Student’s ID: Name of the university:
INTRODUCTION Franchising is a type of business structure in which a company's owner grants a small business or group of individuals pertain the license to conduct a company that sells a product or provides a service using the franchisor's business organization. Franchisees are permitted to use the franchisor's branding, logos, and individual features as long as it complies with detailed guidelines.
INTRODUCTION CONT. For businesses who wish to expand their business without having to put any money down, franchising is a realistic alternative. The franchisee pays for the start-up and management of a facility, allowing the franchisor to develop without going on debt or selling stock. For some entrepreneurs, franchising may be their only option for gaining market share
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WHAT IS THE PROBLEM? A lack of funds is one of the most common impediments to expansion strategy, as entrepreneurs usually find that their available funds are much outstripped by their growth aspirations. Taking on debt from banks, leasing companies, private investors, and even friends and family can be a major stumbling block for expanding businesses
WHAT IS THE PROBLEM? CONT. The option of purchasing a franchise encourages and enables numerous people's desire to stop laboring for others and receive a reward that is more closely tied to personal effort. For any small firm, establishing a brand is prices. By purchasing a franchise, one can capitalize on a brand that is presumed to be well-established in the industry, with a customer-recognized and supported reputation.
RESEARCH AIM This research aims to find the resource-based view of organizational development using a number of exemplar franchise organizations. This paper also researches how franchises develop small business strategic management, help them to innovate, and assist to expand intangible assets.
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RESEARCH SCOPE This study can also focus on the regulation of franchises and using e-tools to develop digital franchising into the franchise system to motivate operation between franchisees and franchisors as their connection moves into the digital realm.
RESEARCH RATIONALE One of the aids of franchising is that they delivers commercial assistance to the franchise holders. Based on the terms of the franchise contract and the organization's framework, the franchisee may be capable to obtain an essentially commercial business. They may be delivered the brand, tackle, resources, and promotional strategies, in other words, whatever they required to run the business
RESEARCH QUESTIONS How do successful franchise businesses plan for human capital development in order to achieve long-term success? How does the franchise help to develop small businesses? How do franchises enhance buying power? What are the disadvantages of franchised business?
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RESEARCH OBJECTIVES In order to analyze the impact of the franchise in small business development. In order to analyze the impact of human capital to achieve long-term success. In order to find how the franchise can enhance buying power. In order to find the disadvantages of the franchised business.
REFERENCES Bretas, V.P. and Alon, I., 2021. Franchising research on emerging markets: Bibliometric and content analyses. Journal of Business Research , 133 , pp.51-65. Das, M., 2022. Agency issues in franchising electricity distribution companies: inter- organizational and multi-level study. Journal of Economic and Administrative Sciences . Di Lernia, C. and Terry, A., 2019. Business Model Innovation in Franchising: Rethinking the Franchising Taxonomy. In Design and Management of Interfirm Networks (pp. 57- 74). Springer, Cham. Erceg, A., Bilos, A. and Kelic, I., 2021. FRANCHISING IN THE DIGITAL ERA–WHAT LIES AHEAD. Economic and Social Development: Book of Proceedings , pp.53-65. Maček, A., Kros, J. and Bobek, V., 2019. International franchising in the fashion industry from the franchisor perspective. Journal for International Business and Entrepreneurship Development , 12 (1), pp.49-66. Muthukrishnan, K.B., Lourens, M.E., Kumar, V.R., Naved, M., Devesh, S. and Athawale, S.V., 2022. Growth prospects of franchising under current business scenario. Webology; Vol. 19, Issue 1 . Phan, D., 2021. How does franchising work in Finland?. Samokhvalova, Z.P. and Artanova, L.I., 2021, November. Financial Analysis as a Franchising Tool in Modern Conditions of Digitalization of the Economy. In 2021 Intelligent Technologies and Electronic Devices in Vehicle and Road Transport Complex (TIRVED) (pp. 1-4). IEEE.
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