Business Studies - AQA - GCSE - Franchisee and Franchisor

Josh Anderson
Mind Map by Josh Anderson, updated more than 1 year ago
Josh Anderson
Created by Josh Anderson about 6 years ago
9
0

Description

GCSE Business studies Mind Map on Business Studies - AQA - GCSE - Franchisee and Franchisor, created by Josh Anderson on 11/11/2015.

Resource summary

Business Studies - AQA - GCSE - Franchisee and Franchisor
  1. Franchisee
    1. Disadvantages
      1. Has to abide by the franchisor's rules
        1. A percentage of all profits go to the franchisor
          1. Costs can be great
            1. For example, McDonalds - Paying for the name, the furniture, the signs, etc.
            2. Restricted territory of promotion
              1. Ongoing payment fees to the franchisor
              2. Advantages
                1. Possibility to get many customers from the start
                  1. Brand recognition/well-known names
                  2. Relationships with suppliers have already been established
                    1. Good way to find talented workers
                      1. Management training
                        1. Assistance with site selection, building, etc.
                          1. Ongoing support from the franchisor
                        2. Franchisor
                          1. Disadvantages
                            1. Confidential information is shared with franchisees
                              1. Minimal control over managers
                                1. 'Shared' ownership
                                  1. Loss of flexibility as business grows
                                    1. Risk of franchisee tarnishing public image if they do not deliver (e.g. poor customer service, etc.)
                                    2. Advantages
                                      1. Cost effective labour force
                                        1. Get money without having to run the business themselves
                                          1. Franchisees own their business, more commitment
                                            1. Franchisee advertises brand by owning business
                                          Show full summary Hide full summary

                                          Similar

                                          BUSS1
                                          Sophie Davis
                                          The skills needed to be a successful entrepreneur
                                          Rosie Wallis
                                          How to Turn Business Failure into Business Success
                                          Micheal Heffernan
                                          Unit 3 Business Studies
                                          Lauren Thrower
                                          Business Studies - AQA - GCSE - Business Studies Key Terms
                                          Josh Anderson
                                          Entrepreneur Skills
                                          Alex Harvey
                                          1 The Strategic Management Process
                                          Luzelda Maré
                                          4 Internal Environmental Analysis
                                          Luzelda Maré
                                          Business Studies Unit 1
                                          emily.mckechnie
                                          Unit 1: Business Studies GCSE
                                          Libby Rose
                                          3.1 Keywords - Marketing
                                          Mr_Lambert_Hungerhil