☺ The most critical financial component of working capital
☺ The franchisee should seek to minimize the risk of running out of cash
☺ The franchised business must ensure that bills due (accounts receivable) are collected in a timely manner
☺ The franchise owner may developpolicies and practices
☺ Another way to significantly reduce working capital requ
develop their own company like educating employee, expanding facility. Starbucks believe satisfied employees to make satisfied customers. So it thinks employees important, because employees soon become advertiser.
-Alliances with Starbucks
*Definition: two different company contract to achieve their goal and share danger and profit through interactive relationship. Because they combine individ
franchisees exclusive license within a certain range and areas.
b. Support and control of Franchisor
To recognize franchisees contract, Franchisees should operate sales following that franchisor make marketing plan through support and control for franchisees.
-Approval of store
-Requirements for the design and appearance of the store
-Business hours
-Restrictions on customers
-Policie
1-3 Mission & Objective – Bloomin’s Brands
A thousand details. A Single goal.
In the late 1980s, four friends who were all veterans of the hospitality industry had the dream of opening their own restaurant. They wanted a place with a casual atmosphere and a strong focus on quality food and service.
Vision and strategy
Vision : “No Rules, Just Right”
Mission : A thousand det
③ Family Owned Company
In-N-Out Burger is a private, family-run, non-franchised company. Rich Snyder maintained his family's opposition to franchising. While McDonald's, which began the same year as In-N-Out, decided to franchise in 1954, the Snyders, though inundated with franchise inquiries, remained firm. They thought franchising would cause them to lose control of In-N-Out Burger an