other support services are commonly made available by the entity licensing the ‘chain store’ or franchise outlet (commonly shortened to the one word: franchise)‚ and may indeed be required by the franchisor‚ which generally requires audited books‚ and may subject the franchisee or the outlet to periodic and surprise spot checks. Failure of such tests typically involve non-renewal or cancellation of franchise rights. A continuing relationship in which the franchisor provides a licensed privilege to
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Chapter 10 Starting a business Chapter 10 | Starting a business 1. 2. 3. 4. 5. 6. Preparation Selecting a business structure Licences and registration Renting or buying the premises Franchising Opening for business Preparation Chapter 10 Starting a business Preparation • Before a person starts trading‚ they should: – do some research‚ – protect the IP‚ – prepare a plan‚ – raise some money‚ and – take out insurance. Selecting a business structure Chapter 10 Starting a business Business
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independence * Creative Freedom - no more restrictions‚ you can do what you like and have the freedom to work‚ design‚ create‚ build what you think is best - your way! * Goodwill - you don ’t have to pay for it (as if your would if you were buying a business) - you get to build it * Location‚ Premises‚ Building Fitout - you get to choose it all * Staff - your not lumped with staff you don ’t want. You hire and train from scratch - your way * No Bad Name - a fresh business‚ a fresh
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1Different types of business ownerships PRIVATE LIMITED COMPANY (ltd) A Company owned by shareholders. A limited number of shares are issued‚ these are owned by family and friends of the business. The business has limited liability PUBLIC LIMITED COMPANY (plc) A Company owned by shareholders. It must have £50‚000 of capital when founded‚ and may allow its share to be bought by the general public (though it does not have to). The business has limited liability UNLIMITED LIABILTY A legal obligation
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Brendan Morley Franchise A few broad questions related to the finance sector of the franchise are: Do you have the financial resources or means to get the resources required to buy a franchise?‚ will your capital provide you with a cushion for at least one year after you have paid for the franchise‚ allowing a one-year period of time to break even?‚ what is a high estimate of your fixed expenses such as rent and your variable and operating expenses such as wages and stock?. When buying the Zara franchise
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real buzz the reason we’re writing about Gll Wonton is simply about the Wonton. (Elliott‚ 2007) Descriptive type of Gll wonton Gll Wonton is a Chinese fast food brand‚ it is using chain stores to operation the restaurants‚ the owners buy the franchise from the Shi hao Company‚ and operation by themselves. What feature does Gll wonton has? • Less investment Person who want open a Gll wonton chain store just need to invest 60000-70000 RMB. • Quick return 6-7 months to recover the cost.
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choose to go solo (Independent) or seek help from experienced and experts known as Franchise. If a business owner chooses to go for Franchise‚ apart from paying franchise fee‚ owners also have to follow many rules of franchisor‚ like merchandize setup‚ type of equipment‚ Training programs‚ number of employees‚ facility operational hours and many more. Like many fitness businesses‚ Snap Fitness also offers its franchise to different
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of the franchise is a major disadvantage. Even though the franchise may provide pre-opening and on-going support‚ it may come at a price. Every franchisor will charge a franchise fee‚ the onetime payment to become a franchisee. Also a royalty fee will be charged which is a specified percentage of sales revenue. (Hatten 114) 2. Restrictions on freedom or creativity is another disadvantage. Most people start their own business to have more independence. When you decide to purchase a franchise‚ you have
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running his own store. While scanning through job advertisement‚ he comes across of The Body Shop Canada. The notice stated that the company has number of operating stores available for franchise. Knowing the enormous success of the company‚ Mr. Paul decides to purchase the franchise. Cost to start a new franchise is estimated to reach approximately $257‚900 maximum. Mr. Paul estimates that he can only afford with about $125‚000 which obviously still not enough to cover the start-up cost. After examine
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This report contains ideas about my ideal Capstone project‚ and explanations of why I decided to choose the three following topics; Opening a Franchise‚ Buy Stocks‚ and Fashion Store. The topic picked fall into my own vision and goals for the future after finishing with the MgBA program. This report was written in order to help me clear my mind with ideas that I believe are the most effective to create a valuable Capstone project with my own interests. This report also helped me to identify possible
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