This week we continue our study of Sustainability, Survivability, and Ongoing Maintenance of a small business. You will not be going back to the business you have been interviewing, but instead will look at several short case study regarding franchises. Each of the franchises gives you insight into different challenges faced by entrepreneurs starting small-business franchises.
Start by reading the case studies you can access with the hyperlink below. As you read each one, make notes regarding the challenges each franchise faced, how they overcame each challenge, and the outcome as to the level of success the owner’s attained. It is important that you think deeply about each franchise case study regarding the business type, the situation the entrepreneur/owner finds himself or herself in, and then thoroughly understand not only the depth, but the long term complications the challenges pose to the viability and growth of the business.
For your assignment this week, you are to write a 5-page (minimum) essay/paper summarizing your understanding of the challenges franchise owners can face at startup and ongoing. As part of this paper, you are to pick two of the case studies and act as a consultant to the owners by suggesting alternate methods the entrepreneur could use to mitigate the challenges he or she incurred.
Hyperlinks to The Franchise Center and the 11 (very short) Case studies: Franchise Case Studies
As you are analyzing the Challenges each of these entrepreneurs faced, think about the type of challenge they faced. Here is a list of some, but you may need to come up with additional ones for some of the case studies.
Human resources related (skills, retirement, turnover)
Impact on local competition (increased, unscrupulous, larger, e-commerce)
Pricing related related issues
Possible internal and external hindrances to success
Significant requirements for financing, internal organizational structure, and support services (computer, insurance, facilities management, etc.)
Product related issues
Service related issues
Vendor or manufacturer related
Financing issues that must be taken into account
Marketing and advertising considerations
Legal, regulatory, or license related issues that must be considered
This assignment should be in APA format. Finalize and submit your 5+ page essay by Sunday midnight.