Jul 22, 2024  
College Catalog 2022-2023 
    
College Catalog 2022-2023 [ARCHIVED CATALOG]

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BUSN 1220 - Franchising Fundamentals

Credit Hours: 3.00


Prerequisites: None

BUSN 1220 focuses on the important aspects of starting, developing, and managing franchise operations from a franchisor and franchisee perspective. It emphasizes the feasibility of entrepreneurs converting an existing business into a franchising opportunity. It also emphasizes analyzing franchise opportunities, such as identifying locations, financing, royalties, international franchising opportunities, and the legal aspects of franchising.

Billable Contact Hours: 3

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OUTCOMES AND OBJECTIVES
Outcome 1: Upon successful completion of the course, the student will be able to evaluate and analyze the multiple franchising opportunities that are available to entrepreneurs.

Objectives: Given various assignments, the learner will

  1. Identify the roles of the franchisor and the franchise, with a minimum Level of 3 on the discipline rubric.
  2. Discuss franchising arrangements, with a minimum Level of 3 on the discipline rubric.
  3. Determine whether to buy an established franchise or open a new location, with a minimum Level of 3 on the discipline rubric.
  4. Analyze the cost structures, fees, and royalties that are necessary in purchasing a franchise, with a minimum Level of 3 on the discipline rubric.

Outcome 2: Upon successful completion of the course, the student will be able to describe how a particular business might expand beyond its local market through franchising.

Objectives: Given various assignments, the learner will

  1. Determine the franchising opportunities for an existing business, with a minimum Level of 3 on the discipline rubric.
  2. Develop the necessary legal documentation and franchise agreement, with a minimum Level of 3 on the discipline rubric.
  3. Identify a franchise system that includes facility design, business requirements, training, and an operations model, with a minimum Level of 3 on the discipline rubric.

Outcome 3: Upon successful completion of the course, the student will be able to describe the various functions that are necessary for the start up and management of franchise organizations.

Objectives: Given various assignments, the learner will

  1. Evaluate the selection of a location for a franchise, with a minimum Level of 3 on the discipline rubric.
  2. Assess the training options available for the successful management of a franchise operation, with a minimum Level of 3 on the discipline rubric.
  3. Explain the development and maintenance of good working relationships with the franchisor, its suppliers, and other franchisees in the network, with a minimum Level of 3 on the discipline rubric.
  4. Determine the capital requirements for purchasing, financing, and the costs of managing the daily operations of a franchise, with a minimum Level of 3 on the discipline rubric
  5. Evaluate a franchise agreement, with a minimum Level 3 on the discipline rubric.

Outcome 4: Upon successful completion of the course, the student will be able to Describe the significance of franchising opportunities available in international markets.

Objectives: Given various assignments, the learner will

  1. Identify target international markets, and develop plans and budgets for determining market opportunities, with a minimum Level of 3 on the discipline rubric.
  2. Utilize essential tools such as the International Franchise Association, International Brokers Association, and the International Franchise Expo when identifying global franchising opportunities, with a minimum Level of 3 on the discipline rubric.
  3. Describe the cultural differences and implications between international and domestic franchising opportunities, with a minimum Level of 3 on the discipline rubric.

COMMON DEGREE OUTCOMES (CDO)
• Communication: The graduate can communicate effectively for the intended purpose and audience.
• Critical Thinking: The graduate can make informed decisions after analyzing information or evidence related to the issue.
• Global Literacy: The graduate can analyze human behavior or experiences through cultural, social, political, or economic perspectives.
• Information Literacy: The graduate can responsibly use information gathered from a variety of formats in order to complete a task.
• Quantitative Reasoning: The graduate can apply quantitative methods or evidence to solve problems or make judgments.
• Scientific Literacy: The graduate can produce or interpret scientific information presented in a variety of formats.

CDO marked YES apply to this course:
Communication: YES
Critical Thinking: YES
Global Literacy: YES
Information Literacy: YES
Quantitative Reasoning: YES
Scientific Literacy: YES

COURSE CONTENT OUTLINE
  1. Choosing the Right Franchise Opportunity
    1. Becoming a Franchisee
    2. Buying an Existing Franchise
  2. Estimating Start-Up Costs
    1. Financing
    2. Business Planning
    3. Business Plan Resources
  3. Conducting Market Analysis
    1. Market Research
    2. Industry Analysis
    3. Market Analysis
  4. Creating Financial Statements
    1. Projected Income Statements
    2. Estimating Income and Cash Flow
    3. Calculating Potential Sales, Cash Flow, and Profits
    4. Profit and Loss Statements
  5. Locating Your Franchise
    1. Finding the Best Location
    2. Evaluating the Location
    3. Financial Considerations
    4. Negotiating Leasing Arrangements
    5. Build Out and Construction of a Location
  6. Marketing Your Franchise
    1. Target Market Strategies
    2. Effective Advertising
    3. Customer Service
  7. Buying and Managing Supplies
    1. Group Purchasing
    2. Identifying Suppliers
    3. Supplier Management
  8. Managing Supplier and Franchiser Relationships
    1. Communication
    2. Improving Efficiency
    3. Vendor and Consultant Relationships
    4. Employee Relations
  9. Franchising Your Business
    1. Franchising Basics
    2. Franchising and Alternative Methods of Expansion
    3. Building a Strong Franchising Foundation
    4. Franchising Laws
    5. Selecting a Franchise Attorney
    6. Making Your Franchise Operations Work
  10. Franchising Law
    1. Federal Laws
    2. State Laws
    3. Franchiser Certification
  11. International Franchising Opportunities
    1. Cultural Differences
    2. Franchise Brokers
    3. International Franchise Association

Primary Faculty
Greek, Patrick
Secondary Faculty
James, Robert
Associate Dean
Johnson, Elise
Dean
Balsamo, Michael



Official Course Syllabus - Macomb Community College, 14500 E 12 Mile Road, Warren, MI 48088



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