This essay focuses on business is a monumental decision.
Choosing a business location is one of the most important aspects of starting a small business. Especially if you’re running a small retail or restaurant operation, finding the right location means everything. It can dictate foot traffic, business atmosphere and long-term success for your small business.
Business location and the decision as to whether to own or lease the Real Estate at the location is a critical component of the Franchise business plan. List and compressively discuss 2 situations in which it would be important to own the real estate, and 2 situations in which it would be important to lease the real estate.
Most franchise systems have a minimum net worth requirement for the principal owner of the Franchisee. Given that the legal structure of the Franchisee will very likely protect the net worth of the principal(s), why is this requirement common?
Sourcing and Procurement are often one of the most important components of the Franchise relationship. Describe the Sourcing and Procurement process, including the two primary methods by which the Franchisor could charge for this service.