Franchise Management – An Introduction
Franchise Management – An Introduction, available at $34.99, has an average rating of 3.8, with 16 lectures, based on 22 reviews, and has 566 subscribers.
You will learn about Explain What is Franchising List the Various Aspects of Franchise Management Describe the Elements of Franchise Promotion Describe the Important Financial Documents for a Franchise Explain the Rules of Cash Management for a Franchise Explain the Processes in Franchise HRM Explain the Training Administration in a Franchise Explain Elements of Franchise Store Operations Describe the Role of Strategic Management in Franchise Management Explain the SCM Strategies for Franchise Management Explain How to Measure Performance of a Franchise Explain the Elements of Health & Safety Program of a Franchise Explain Why Franchisee Should Build Relationship with Customers List the Responsibilities of a Franchise Store Manager List the Tips for Efficient Franchise Management This course is ideal for individuals who are Retailers or Entrepreneurs or Managers and supervisors or Management personnel or Working professionals It is particularly useful for Retailers or Entrepreneurs or Managers and supervisors or Management personnel or Working professionals.
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Summary
Title: Franchise Management – An Introduction
Price: $34.99
Average Rating: 3.8
Number of Lectures: 16
Number of Published Lectures: 16
Number of Curriculum Items: 16
Number of Published Curriculum Objects: 16
Original Price: $19.99
Quality Status: approved
Status: Live
What You Will Learn
- Explain What is Franchising
- List the Various Aspects of Franchise Management
- Describe the Elements of Franchise Promotion
- Describe the Important Financial Documents for a Franchise
- Explain the Rules of Cash Management for a Franchise
- Explain the Processes in Franchise HRM
- Explain the Training Administration in a Franchise
- Explain Elements of Franchise Store Operations
- Describe the Role of Strategic Management in Franchise Management
- Explain the SCM Strategies for Franchise Management
- Explain How to Measure Performance of a Franchise
- Explain the Elements of Health & Safety Program of a Franchise
- Explain Why Franchisee Should Build Relationship with Customers
- List the Responsibilities of a Franchise Store Manager
- List the Tips for Efficient Franchise Management
Who Should Attend
- Retailers
- Entrepreneurs
- Managers and supervisors
- Management personnel
- Working professionals
Target Audiences
- Retailers
- Entrepreneurs
- Managers and supervisors
- Management personnel
- Working professionals
Franchising involves a contractual arrangement between a franchisor and a retail franchisee. The franchisor may be a manufacturer, wholesaler or service sponsor. A franchise or the contractual agreement allows the franchisee to conduct business under an established name and according to a given pattern of business. To get a franchise, a franchisee has to pay an initial fee to the franchisor. Thereafter, the franchisee pays a monthly percentage of the gross sales in exchange for the rights to sell goods and services of the franchisor in a particular area and location.
There are various aspects involved in managing a franchise management. A franchisee must understand and learn these various aspects of franchise management in order to manage his franchise business well. A franchisee must use an effective marketing plan for the application of marketing resources to achieve marketing objectives. The various components that need to be considered for formulating a successful market plan are:
•Strengths of your franchise Weakness of franchise
•Design for creating value
•Market Needs
•Wants
•Existing competitors
Expected competitors
Advertising covers any communication that is paid for, from and cinema commercials, radio and Internet adverts through print media and billboards. Hence, it is mass communication efforts through media. The following are the financial documents that a franchisee should maintain for effective management of his franchise business:
Balance Sheet/Statement of Financial Position:
This document is filled out at the end of each period and lists the franchise’s assets (current, fixed, and net) and liabilities (current and long-term).
Income Statement/Profit or Loss Statement :
This is a report of the franchise’s revenues, expenses, and change in net assets over a fiscal year. It will denote whether the franchise realized a profit or incurred a loss for the period.
Statement of Cash Flows:
This is prepared by an auditor at the request of the franchisee. It provides information on the flow of cash in and out of the franchise.
Other documents as required by state:
This can be better understood by consulting a Certified Public Accountant or tax advisor.
Course Curriculum
Chapter 1: Course Content
Lecture 1: Franchise-Management-Introduction
Lecture 2: Explain What is Franchising
Lecture 3: List the Various Aspects of Franchise Management
Lecture 4: Describe the Elements of Franchise Promotion
Lecture 5: Describe the Important Financial Documents for a Franchise
Lecture 6: Explain the Rules of Cash Management for a Franchise
Lecture 7: Explain the Processes in Franchise HRM
Lecture 8: Explain the Training Administration in a Franchise
Lecture 9: Explain Elements of Franchise Store Operations
Lecture 10: Describe the Role of Strategic Management in Franchise Management
Lecture 11: Explain the SCM Strategies for Franchise Management
Lecture 12: Explain How to Measure Performance of a Franchise
Lecture 13: Explain the Elements of Health & Safety Program of a Franchise
Lecture 14: Explain Why Franchisee Should Build Relationship with Customers
Lecture 15: List the Responsibilities of a Franchise Store Manager
Lecture 16: List the Tips for Efficient Franchise Management
Instructors
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Management Study Guide
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- 4 stars: 6 votes
- 5 stars: 8 votes
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