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1. Select and identify the specific geographic area in which you are considering opening. Be sure to include a description – demographics, population size, traits, location, and so on.
2. Select the franchise – BE SURE YOU CHOOSE SOMETHING THAT IS NOT ALREADY IN THE GEOGRAPHIC AREA – Chances are that you are investigating a new or growing franchise
3. Introduce the franchise – Marketing Mix, target market, and key success factors. Discuss why the franchisor things people should invest in the franchise, and whether they believe consumers will want to purchase the product on offer.
4. Discuss important points – years in business (yours, theirs, any that might be applicable!) management team, growth rates, sales history, royalty structure, and any other relevant info.
5. Complete SWOT assessments, you may feel a need to do this for competitors too.
6. Identify and discuss the major competitors
7. After you have completed the investigation on the chosen franchise, make a recommendation with your justification whether the franchise will be successful in the geographical area.
November 27, 2020/by admin
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