BUSN 1220 - Franchising Fundamentals

Credit Hours: 3.00

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.

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