Franchising ( 10 Points ) Essay - 792 Words

Franchising (10 Points) I. What steps should you, the prospective U.S.-based franchisee take when establishing outlets in foreign countries? Research the potential market, including its size and the potential acceptance of the franchise concept. Inventory the business climate for U.S. businesses operating within the foreign country. Assess the state of the current and anticipated economic and financial environment. Try to obtain information regarding government restrictions. Assess the potential tax implications. Examine logistical issues, such as shipping and delivery options. Do a financial analysis and a risk analysis. II. Describe the opportunities and the challenges a franchisee face when entering emerging markets such as South and Latin America. Opportunities- Having a recognized worldwide brand. New sources of income. Challenges- Training, importing product into new country, finding quality employees III. Use the Web as a resource to develop a list of at least five suggestions that will help new franchisees looking to establish outlets in foreign countries. 1. Conduct a comprehensive market analysis of the local market in the foreign country. 2. Analyze the role the government will play such as import restrictions, taxes, and purchasing restrictions. 3. Research the local culture to see if the franchise would prosper there. 4. Conduct an analysis on how the exchange rate might affect the business. 5. 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