IP6 Essay Example | Topics and Well Written Essays - 500 words

IP6 - Essay Example m is that the ownership of the brand and the modus operandi for the delivery of the product are retained by the franchisor, and execution is a franchisee responsibility† (Franchising as Entrepreneurship, n.d.) As an entrepreneur, I have to concentrate only on the execution area of the business rather than running after business idea, business plan, and training of the employees. The required product for the business and the business strategies will be readily available for me if I opt for franchising. â€Å"Business format franchisees typically perform services, but may sell and install a product in conjunction with such service (e.g., fast food restaurants, automotive aftermarket product replacement services.† (Jamie G, 2009)† For example suppose I opt for the franchising business of a service delivery system (SDS) of fast food chain Kentucky Fried Chicken (KFC). The KFC company will take responsibility of providing me the product (Chicken and other associated ite ms), the training of my staffs (like how to approach and behave with the customers, what strategies must be taken for attracting more customers, precautions required for keeping the products clean and fresh, hygienic conditions requirements, etc), sales promotion strategies, and all the other activities required for the successful execution of the business. I have to concentrate fully on the implementation part of the business like, how well the instructions obtained from the franchisee is being executed in my firm. Customer demands may be different at different locations and hence the franchisor must make custom made SDS for each location. For example, a franchisor who works on fast food services, must recognize the needs of the customers in each locations since the eating habits of people can be different based on region, religion and culture. The eating habits of Muslim people may be different from that of Christian and Jews people. As a franchisor I have to consider all such factors to fine tune