Advantages and disadvantages of domestic and international franchising

Advantages and disadvantages of domestic and international franchising Introduction Buying a Franchise offers many benefits over starting a business on your own. The franchisees benefit from the training and ongoing support that they receive whilst trying to make their business successful. People starting a business on their own often have no help or guidance in the day to day running of the business! The franchisees receive guidance on location, fixtures and fittings, marketing and operation of the business model. This guidance is based on years of experience the franchiser has gained not only from running the business model but also from advising other franchisees. Buying a franchise business is at least a five year commitment and as such should not be taken lightly. It is important to make the right lifestyle choice rather than basing the decision to buy purely on profitability of the business model. A prospective franchisee should always look at the market trends to ascertain whether the need and requirements of the products of the franchise opportunity are predicted to grow or decline over the medium and long term. Getting advice from an experienced accountant can help in this respect. What makes the franchisers products better than the competition? Is the franchisor continually investing in improving the products to reflect changes in latest trends and requirements of the customers? Analysing which products have been changed and new ones introduced over the last five years will help in this regard. The territory is just as important as the franchise model. Not all franchises work in all territories as each area has their demographics and buying patterns. Decent knowledge of the local area is invaluable and the choice of which type of franchise business to buy should be made with regards to this information. Making the right choice of franchise that is based on individual skills as well as the individual requirements of each particular territory should serve to ensure that the business model works both in the short term and the long term International Franchising International franchising refers to a domestic businesss expansion into foreign countries and markets. International franchising is a complex process that requires thorough considerations of many factors, such as feasibility, adaptability, and benefits versus risks. Replication: During the process of international franchising, companies often strive to replicate successful domestic business models in foreign markets. Challenge: Differences in language, laws and financial systems, between franchising business and host foreign market can pose serious challenges during international expansion. Benefits: International franchising means new markets with new customers and selling potentials. International franchising also places companys name and presence in a global market. Adaptability: learning to adapt to the needs and demands of a new foreign market can attract local customers and buyers and lead to higher business success in a new country. Counsel: International franchising experts help companies understand a foreign market before expansion. Consultants advise businesses on a number of subjects, from financing to culture gaps. Advantages: There is a higher likelihood of success since a proven business formula is in place. The products, services, and business operations have already been established. Bankers usually look at successful franchise chains as having a lower risk of repayment default and are more likely to loan money based on that premise. The corporate image and brand awareness is already recognized. Consumers are generally more comfortable purchasing items they are familiar with and working with companies they know and trust. Franchise companies usually provide extensive training and support to their franchisees in effort to help them succeed. Many times products and services are advertised at a local and national level by the main franchise companies. This practice helps boost sales for all franchisees, but individual franchisees dont absorb the cost. Disadvantages: Franchises can be costly to implement. Also, many franchises charge ongoing royalties cutting into the profits of franchisees. Franchisors usually require franchisees to follow their operations manual to a tee in order to ensure consistency. This limits any creativity on the part of the franchisee. Franchisees must be very good at following directions in order to maintain the image and level of service already established. If the franchisee is not capable of running a quality business or does not have proper funding, this could curtail success. Sometimes franchisors may be lax on their commitment to support the franchisee. Also, they may make poor decisions that would have an ill effect on the franchisee. Therefore, it is important to research any franchise concept thoroughly before signing any agreements. Benefits on International Franchising Purchasing a franchise is one way for an entrepreneur to get started in business. Franchises offer a proven business model to follow as well as support in areas like financing and training. International franchises can provide the opportunity to take advantage of growing global markets, although the franchisee will need to overcome the hurdles associated with adapting to the ways of a new country. Cultural Adaptation Franchises provide the business owner with a full range of support services. This proves beneficial when it comes to adapting to the ways of a foreign country. The company can help you hire local management and workers who are familiar with the methods of doing business in the country, which can make the transition much smoother. Business Expansion If you already own an established franchise and are looking to expand, adding units in another country can provide a more profitable alternative to an already saturated market. This is particularly meaningful if you sell a product or service that is rather common in your home country. Cornering the Market You may even be fortunate enough to open a franchise in a country where there is little competition and there is a great need for your product or service. This will enable you to corner the market and possibly open several locations, establishing you as the leader in your business before the inevitable entrance of competitors occur. Change of Lifestyle Owning a franchise in another country can result in a new and exciting way of life. Franchisees from a cold climate may relish the opportunity to move to a warm, sunny locale to open a business. Some may also look forward to expanding their horizons by experiencing and assimilating into a new culture. Taking Advantage of Growth If current franchisees are experiencing slow business due to the home countrys stagnant economy, they can seek to open another unit in an area experiencing strong growth. Countries and areas exhibiting growth as of 2010 include China, Latin America and the Middle East. Advantages of international franchising Franchising is a unique form of business arrangement. The original company (called the franchisor) enters into a contract with a second business (called the franchisee) in which the original company offers the second business the right to operate under the original businesss name and the right to sell its product. The franchisor usually offers guidance and expertise to the franchisee. All of this is done for a fee, and though having a franchise isnt the same as starting a business from scratch, there are a number of advantages to the system. This is also true for international franchises. Reputation The major benefit of a franchise is that franchises reputation. If a franchise is well known for offering a certain type of product or service and a new branch of that franchise opens up locally, then people know roughly what to expect. For international franchises there are some additional issues of reputation to consider. For instance, the country of origin that the franchise comes from could be viewed as exotic, which will bring in additional business. Financing Franchises are viewed as a business plan thats already undergone a trial by fire and succeeded. Generally speaking, this makes them much easier to finance, as far as getting loans from banks is concerned. If a franchises reputation and success can be clearly shown, then the bank knows the franchisee has a much better chance of succeeding than he would if he were trying to start up a new and independent business. This is even truer for companies that are known internationally, which makes banks feel even more generous when it comes to assisting with business financing. Support Regardless of whether or not the franchisee sets up in the franchises hometown or on the other side of the world, an international franchise has the capability of extending support, advice and training to franchisees. The franchise offers training manuals, access to supply networks, advice and other forms of help to the franchisees. This is especially true where an international franchise is concerned, because every franchisee impacts the franchises reputation and reach. If all of the franchisees do well, then it will increase the franchises reputation, reach and even their brand recognition. Franchising primary benefit is risk minimization. Starting a new business is risky. Most studies show that over 90 percent fail within three years. The primary reason that the failure rate is so high is because the owners have to go through the learning curve of operating that specific type business. Franchising reduces that curve substantially. Another reason to buy a franchise is that a franchise investment can be thoroughly researched before any significant expenditure is made. Existing franchisees offer a wealth of information about the business so that new franchisees can try the business on before they buy to make sure its a good fit for them. Franchisers sell a defined, proven business format or method of operation, offering a product or service that has sold successfully. An independent business is based on both an untried idea and operation. The experience of the franchisers management team increases the potential for success. This experience is often conveyed through formal instruction and on-the-job training. Franchisees can often buy lower-cost goods and supplies through the franchiser, resulting from the group purchasing power of all the franchises. Established franchisers offer national or regional name recognition. While this may not be true with a new franchiser, the benefit of starting with one is the potential to grow as its business and name recognition grow. Franchising provides a uniform system of operation, so that consumers receive uniform quality, efficiently and cost-effectively. A uniform system brings with it the advantages of mass purchasing power, brand identification, and customer loyalty, capitalizing on the proven format. A franchiser also provides management assistance, including accounting procedures, personnel and facility management. An individual with experience in these areas may not be familiar with how to apply them in a new business. The franchiser helps a franchisee overcome this lack of experience. Franchisors help franchisees develop a business plan. Many elements of the plan are standard operating procedures established by the franchisor. The most difficult part of a new business is its start-up, since even experienced managers lack the knowledge to set up a new business. One of the biggest benefits to franchising is marketing. The franchiser can prepare and pay for the development of professional advertising campaigns. Regional or national marketing done by the franchiser benefits all franchisees. In addition, the franchiser can provide advice about how to develop effective marketing programs for a local area through a cooperative marketing fund, to which the franchisees contribute a percentage of their gross income. Its possible to receive assistance in financing a new franchise through the franchiser, who often makes arrangements with a lending institution to lend money to a franchisee. The franchisee must still accept responsibility for the loan, but the franchisers involvement usually increases the likelihood that a loan will be approved. A franchiser also provides training for the franchisee. This is especially important if the concept is complex. The best training combines classroom or one-on-one training at the franchisers facility with field training at the franchisees place of business. Finally, franchising has found a solid economic niche that caters to specialized needs. Many American consumers no longer want a muffler installed by a service station, a hamburger from a diner, a pizza from someone who wont deliver it within 30 minutes or their hair cut by a local barber. Specialists, it seems, do it better, and the franchise industry is only too willing help. Once you become a franchisee and part of a franchise organization, What are your roles and responsibilities? Financial The first function you have in your new endeavour is as an investor into your business. You will need to invest financially with an initial franchising fee, but also be prepared to pay any additional costs that might be necessary to get the business up and running such as equipment costs. Also, there will be ongoing royalty fees that you will need to be aware of. Time Secondly, you will need to be sure that you can invest an adequate amount of time in the business. Although the system is basically set up in franchising, you will still need to initially spend extra time learning how the system works. The franchisor usually offers training and continuous support, hence the ongoing royalty payments. Like anything else, once you know the ins and outs of the system, the time investment decreases somewhat. Leadership and Partnership One of the most important skills you need to possess as a franchisee is the ability to be pro-active and take initiative. You should be able to easily assume a leadership role. You need to be certain that you understand how the entire system works and not be afraid to ask the franchisor questions. It is especially important to communicate with the franchisor anything that you notice that doesnt seem right to you. After all, you are basically assuming a partnership role with the franchisor. Therefore, you should be able to work together, share ideas, and resolve issues together. You may notice something that the franchisor was not aware of since you are much closer to the business. The franchisor would probably appreciate your bringing concerns or discrepancies to the table, especially if you offer possible solutions. Communication With all of the responsibilities that the franchisee holds, communication and organizational skills are key skills to possess as a franchisee. As mentioned, it is important to keep in close communication with your franchisor. In addition, you will need to be able to communicate effectively with your customers, employees, vendors, and other business contacts. Furthermore, it can be quite beneficial to team up with other franchisees on a regular basis. It can help you run your business more smoothly if you share ideas and solutions to problems experienced with others in the same capacity. Organization In your role as franchisee, you should be prepared to wear many hats. In operating the business, you will most likely have to manage all the daily operations involved in operating a business, including ordering supplies, meeting with customers and vendors, preparing payroll, resolving discrepancies, etc. These are just a few of your sub-roles depending on the type of business you are running. It is essential to be able to organize all of your responsibilities so that everything gets done accurately and in a timely manner. In conclusion, as long as you understand your role as a franchisee and make every effort to carry it out thoroughly, you should be able to manage a successful franchise.

Flare Case

Subject: Flare Fragrance Recommendation Background: Flare was founded in 1955 as a small manufacturer of women’s fragrances. Over a period of time, Flare has dominated the fragrance market, generating 9. 5% of the total women’s fragrance market and had grown in to a No. 4 player in the U. S women’s fragrances market. Flare has released 6 brands in the market namely Loveliest, Awash, Summit, Essential, Swept Away and Natural. Economic crisis has impacted Flare’s market share. Sales in 2007 were 12% and by 2008, the estimate was only 2% growth.Flare’s goal for 2009 was to generate $7. 5 million in incremental revenue and reverse declining sales trend. Recommendation: Flare should promote Natural with loveliest umbrella in 18-34 years age range and expand its efforts in the drug store channel. Rationale: 1. Natural fits Flare’s portfolio, both financially and strategically. Promoting Natural with loveliest umbrella will benefit Flare to meet its target sales numbers for 2009. Loveliest brand was introduced in 1975 and it still holds a strong equity in the market.It is positioned as a classic scent in the older age group. These customers will serve as evangelist and contribute to the promotion of Natural brand. As a result of the focus group sessions (ex 5), Projected sales for 2008 for Natural is $9. 1MM(ex 1). Based on forecasted numbers in table1, expected sales for 2009 could be $10. 15MM. Keeping the same communication budget from 2008 of 2. 7 MM to Natural in 2009 (exhibit 4), the expected revenue from Natural would be around 7. 45MM (table 2). 2.Natural is a recent launch under the loveliest umbrella and it is reaching slightly younger demographic, who are looking for the environmentally safer products or so called â€Å"green product† (page# 2). Natural is currently positioned as a chic brand in the younger age group (ex 3). 18-34 year age group women are highly brand aware with sensitivity to premium and pre stige brands and word of mouth is influential for this age group(ex 5). Promoting Natural in the slightly younger age group will benefit Flare’s overall sales. 3.Arlmont’s review of current recession era (page#3), shows that mid-tier and premium brands will be increasingly available in the mass channels. Market development strategy can be used to expand Natural in the drug store. As a result of the focus group sessions (ex 5), 20% of customers shop at the drug store. Flare’s sales at the drug store do not mirror overall market and there is a potential for expansion in that space. Drug store chains have evolved over time and some of them also have high end features like on-site aestheticians to assist shoppers in selecting a particular brand.With the current economic conditions, customer with 18-34 yrs age group would get directed to the drug stores in search of cheaper prices. Placing free samples of Natural in the drug stores and Natural testers in the point of purchase will generate trial. Based on the information from table 3, after increasing the % allocation in drug store for Natural from 0. 5% to 2. 5% in (ex 1), the flare factory sales for 2009 will increase from 9. 1MM to 11. 3 MM. Additional 1. 15 MM can be spent on promotional budget for point of sale samples, expected revenue from natural can be 7. 45MM. Risk: 1.Drugstores would typically sell only Flare’s highest turnover items, which might damage Flare’s relationship with other retail accounts. 2. It can be difficult to position Natural in the 18-34 age group with the loveliest umbrella as women in this age group can perceive loveliest as a classic brand. Table 1 | Natural brand Sales forecast| 2006| 2007| 2008| 2009| 7|   Not available| 9. 1| 10. 15| 2009 sales figures are forecasted based on the % sales increase from 2006 to 2009. Table 2| | Natural brand| 2009 – expected factory sales(MM)| 10. 15| 2009 – communication budget(MM)| 2. 7| Incremen tal revenue| 7. 45| Table3

Concept of Dynamics in Music

Imagine you are listening to Edward Sharpe and the Magnetic Zeros close their concert with 0m Nashi Me, and the whole band stops right in the middle of the song. Or you are watching The Avett Brothers open up their concert with Paranoia In B Flat Major, and by the end of the song, they are playing nearly twice the volume they started out at, and the crowd grew right alongside them. Music has the ability to produce feelings and energy that few things are capable of reproducing.There are any different elements that bring life to these feelings, but dynamics are something that possess the power to change the mood of a song, and the person listening to It. Simply put, dynamics are â€Å"variation and gradation in the volume of musical sound. † (Merriam-Webster) They are what make it possible for a song to be barely audible at the beginning, and crescendo into a powerful and moving composition. They can also change suddenly and drastically, for example a, sforzando.Sudden changes I n dynamics can be notated by adding the word subito (Italian for suddenly) s a prefix or suffix to the new dynamic notation. Accented notes , which are notes to emphasize or play louder compared to surrounding notes, can be called sforzando, sforzato, forzando or forzato (abbreviated sfz or fz). There are two Italian words that are used to show gradual changes in volume, which are the opposite of accented notes. Crescendo, abbreviated cresc. , translates as â€Å"gradually becoming louder†, and diminuendo, abbreviated dim.. means â€Å"gradually becoming softer†.The alternate decrescendo, abbreviated to decresc. also means â€Å"gradually becoming softer†. In addition to all of the volume Indications have mentioned, the execution of a given piece, for example the stylistic choices of staccato or legato are part of dynamics also. (Dynamics, music) When written in musical notation, for example in a band or orchestra piece, they are what allow for the whole band to be given very specific instructions on what the composer intended for an individual part to sound like† making dynamics Just another word in the beautiful language that music is.Although dynamics seem to be what makes music possible, music actually existed before the Introduction of different dynamic levels. The harpsichord†which Is â€Å"a keyboard instrument, precursor of the piano, in which the strings are plucked by leather or quill points connected with the keys†, (Merriam-Webster) could play only â€Å"terraced† dynamics, which are either loud or soft, but not In between. (Dynamics, music)To get around this dilemma, composters would use the trick of layering chords together to create a contrast In sounds, without a single note having to be louder or ofter.The Renaissance composer Giovanni Gabrieli was one of the first composers to Indicate dynamics In music notation, and since him, It Is hard to find a song that doesnt have variations in volume writt en in. (Dynamics, music) But, music is often left open to some interpretation by the performers or director, and dynamics are no exception to this rule. Dynamic indications are relative, not absolute. Mp does not indicate an exact level of volume; it just indicates that the part marked as such t Of3 snou10 De a llttle louder tnan p ana a llttle quleter tnan mT.Ine ty to aec10e wnat would be appropriate or best contribute to the sound as a whole group is part of what makes music great. Counting Crows has a very wise song called Big Yellow Taxi that describes perfectly the idea of appreciating things more after the absence of them. The song says, â€Å"Don't it always seem to go, that you don't know what you've got til its gone. † (Big Yellow Taxi) I think this song applies to music Just as it applies to the seasons during the year.When you're listening to a song that is very quiet, and radually or suddenly grows loud, that makes a much larger impact on the emotion of the song than if it had Just started at the louder volume. Or, if you are listening to a song that has unexpected loud notes, that instantly makes it more interesting to listen to. This applies to the seasons, especially in Minnesota, that you think you appreciate summer weather, but after a long winter, you realize how much you had missed it and welcome it much more. Contrast and diversity are what make things beautiful in all things.Whether its music, weather, people, religion, or any other xample. There is much to be learned from diversity of appearance, beliefs, experience, sound, or qualities. Early on, composers realized the power of dynamics and many uses of them in compositions have become iconic in a sense. An example is when John Cage took a chance and composed a song in 1952 that instructed the musician to go to their instrument and be silent for 4 minutes and 33 seconds. (4†² 33†²)The idea was that in the absence of what the audience was expecting, they would hear all t he environmental noise around them, and appreciate everyday sounds as music.Another example of an iconic use of dynamics is in Beethoven's 5th symphony, which was written between 1804 and 1808. (Symphony No. 5 (Beethoven)). The song starts out really intense with the 4 note fgure that everybody seems to know– regardless of their music taste. It remains intense for about a minute only to back off, then build, alternating between loud and soft and finally end with an impressive crescendo. This constant variation makes it very interesting and emotional. Another iconic example is when Count Basie and his Orchestra performed All of Me in 1965.It starts with a mooth piano and percussion line, then about a minute into the piece, almost startlingly sudden, the horns Join and instantly add life and excitement to the song. (Basie, Count) These musical geniuses, though they composed during very different stages of the development of music, all appreciated the effect dynamics could have on music. Music as definitely evolved over the years, as has the use of dynamics. There is a wide variety of musicians and bands that make dynamics a key element to their music.

Diagnosis, And Management Of Hypertension Crisis - 1877 Words

Abstract: Hypertensive crisis is when blood pressure increases very rapidly. Blood pressure rises to 180mmHg/120mmHg or greater. A drastic increase in blood pressure can damage the blood vessels. Some vessels may become inflamed and others may leak fluid or blood. Due to damage of blood vessels, the heart may not pump blood effectively. Hypertension crisis can present as hypertension urgency or as hypertension emergency. This article will review the clinical features, diagnosis, and management of Hypertension crisis. Introduction: Hypertension is a common disorder in modern Western societies, with an age- and sex-adjusted prevalence of approximately 28% in North America. Physicians in clinical practice will encounter patients with hypertensive urgency and emergency. The improved management of chronic hypertension has decreased the lifetime incidence of hypertensive crisis to less than 1%. Although there has been improved management of chronic hypertension, patients presenting with severe hypertension represent up to 25% of all patients presenting to urban emergency departments. Definition: A blood pressure reading of 180mmHg/120mmHg or higher is considered a hypertensive crisis. Hypertensive crisis is divided in to two categories. The two categories are hypertensive urgency and hypertensive emergency. In hypertension emergency, the blood pressure is extremely high and there is damage to the organs. Organs that are damaged are the brain, heart, kidneys, and eyes.Show MoreRelatedDo Calcium Channel Blockers Play A Role For Preventing Hypertensive Encephalopathy?1618 Words   |  7 Pagesencephalopathy. B- Background and significance Hypertension is a very common problem, affecting 1 billion people worldwide, with 50 million cases in the United States, and one third of cases going undiagnosed. 1% of the cases will experience a hypertensive emergency in their life. (1,2) Although 1% is not a high number, the complications for that percentage are very costly and disable things like End Stage renal disease, Stroke, and Ischemic heart disease. The Hypertension is responsible for almost half of theRead MoreHypertension In Nursing1340 Words   |  6 Pagespractices for treating and managing hypertension in comparison with the practice of health promotion and maintenance NCSBN category while addressing a clinical issue of hypertension and also suggesting a solution to the problem. Current evidenced-based practice guidelines for treatment of hypertension was created by a panel of the Eighth Joint National Committee (JNC 8), whom reviewed peer-reviewed research and current practice to create guidelines. A hypertension management algorithm was created that outlinedRead MoreFamily Health Assessment : Family Assessment Essay1469 Words   |  6 Pagesa financial company and his wife is Mary also 37-year-old Registered nurse working in the local hospital and their 3 boys Thomas (11), John (10) and James (7). Everyone go to the neighborhood catholic elementary school. Health Perception -Health Management The family’s health is generally well. They focused on preventing any health problems and maintain their health in good. The kids are in good health. They are up to date with their immunizations. The family maintains their health by basic hygieneRead MoreDesign Interventional Models For Primary Care Providers1619 Words   |  7 PagesAbstract Over the years from proven evidence-based research, there is a need for intervention as primary care physicians attempt to address the issue of adult obesity. Obesity can be linked to many adverse health outcomes such as: diabetes, hypertension and stroke as suggested by the National Heart, Blood and Lung Institute (2012). The purpose of this project is to design interventional models for primary care providers to implement into a wellness program. The program includes increased knowledgeRead MoreMr. Singh Social Situation1412 Words   |  6 Pagesthat he is not having a good quality of life due to his financial problem, unemployment, emotionally distress and isolated social life. According to the King’s Fund (2010), some of the causes of cardiovascular diseases, multiple LTC, diabetes and hypertension are due to poorer quality of life such as smoking. This an high risk situation for Mr. Singh as such a high-risk situation is any circumstance which causes a danger to an indiv idual’s sense of direct and enhances the risk of possible lapse or relapseRead MoreHypertension2069 Words   |  9 Pages Hypertension Sha’mes Lashawn Handford Moss Point High School November 16, 2012 Abstract Hypertension is the most chronic medical condition that adults have. This disease affects many organs of the body including the heart, eyes, and kidney. Hypertension can increase with age, weight, and inheritance. Generally, the hypertensive population is increasing but physiciansRead MoreHyperthyroidism: Graves Disease and Thyroid Hormone Level977 Words   |  4 Pageshormone (TSH), tri-iodothyronine (T3) or tetra-iodothyronine (T4) levels. A low TSH level is the most accurate indicator of hyperthyroidism. If the TSH level is low, it is important to check the thyroid hormone level (high T3 and T4) to confirm the diagnosis of hyperthyroidism. Radioactive iodine uptake may also be used to diagnose hyperthyroidism. It is a measurement of how much iodine the thyroid gland can collect. A thyroid scan shows how the iodine is distributed throughout the gland. This informationRead MoreMental Health Intensive Case Management Program1342 Words   |  6 Pages The Mental Health Intensive Case Management program (MHICM) was created to improve the quality of life for people dealing with severe mental illness. Also to helped build skills that one can use to live successfully in the community at large. Veterans who are referred to MHICM are male and female range in age from there early twenty’s to their eighties. Unfortunately the main diagnosed for many of these veterans is schizophrenia and other severe mood disorders. â€Å"No one symptomRead MoreBenefits Of Providing A Nursing Care2046 Words   |  9 Pages17mmol/L, requiring immediate nursing management. We have to record and must report it, but also i nform the consultant that the patient two weeks ago suddenly stopped taking prednisolone and that the patient is actually having a first dose of the drug. Further, we can perform urine analysis to check for ketones, document and report our findings, as well as the previous findings of oliguria, haematuria, cloudy and dark urine. However, hyperglycaemia management is an emergency, therefore (Funnell, KoutoukidisRead MoreNutrition, Obesity, and Disease789 Words   |  3 Pagespatients with information that can be helpful in their daily lives but also provide information about nutrition that can prevent some diseases from occurring. Obesity is considered to be a major health crisis all over the world, it can lead to diseases such as: stroke, heart disease, hypertension, some cancers and many more (Coe, 2010). In 2010, research shows that 24.5% of adults in England were obese and 13.9% of children were obese, this number has only risen since then (NHS Information Centre