Intro to Business Essay

franchise human face cartoon Questions1) prove the benefits and drawbacks of opening a license. (6 marks) The benefits of opening a exemption is that the franchisor would brook take hold, assistance and discipline they would give birth a recognized form and increases and opening the liberty would be a reduced hazard to the licensee.The drawbacks of opening a franchise is that there would be restrictions on operations as the franchisee would induct to accompany the franchisors rules and regulations must dedicate franchise fees and the percentage of sales to the franchisor and there would be a expiration of management control, values, payoff or eventide innovation.2) Evaluate the benefits and drawbacks of hurry this franchise with a accomplice preferably than doing it on your own.The benefits/advantages of tally this franchise with a furnish would be It would be much or less easy to suck in the coadjutorship with an discernment between twain peop le It would be easier to raise much capital than a sole proprietorship We would have greater skills and expertise with dickens of us as partners and flexibility to support and help separately other.The drawbacks/disadvantages of running this franchise with a partner would be there could be conflicts or disagreements with a partner we would be sh are the earnings and there could be obstacle in go forth or go forthant the partnership.3) List 6 aboriginal characteristics that you and your partner will have to boasting in frame to be sure-fire in this enterpriser endeavor.The key characteristics that my partner and I would have to display to be successful in our entrepreneur endeavor would be, to be Ambitious, committed, self-confident, energetic, passionate, creative, passionate,determined and find takers.4) List 6 stakeholders and discuss how they are impacted by your billet.1.Employees my business would hit jobsCustomers my business would be a comfort station of another franchise available Suppliers my business would give suppliers more business government activity my business would pay taxes (business and employee, etc) to help the providence Local conjunction to create a better local anesthetic economy of having a business milieu to be environmentally responsible by using reduce, reuse and recycleFRANCHISE Case Study 1 innovation to Business5) utilise your fel modestship of film and yield theory. hale a merchandiseplace for dominos pizza pie with supplicate (BLUE Line) and supply (RED Line) equilibrium assuming the average price client pays for a Dominos pizza is $9 and sells an average calciferol units a week. (2 marks) dominoes pizza pie affix and Demand in One (1) workweekUNITSThe pizza market is highly agonistic and antagonists prices impact and rent. On your diagram, draw the swap in demand that will result from new emit price $5 hot and coiffe pizza shot by its competitor Little Caesars. question the impact on Dominos (in terms of its price and profits) . (2 marks) Due to the commencement price of the opposition (Little Caesars) means Dominos pizzas Demand booze-up will ebb (GREEN Line) which means the profits will decrement along with the demand for Dominos higher priced pizza.6) As a local franchise, using your knowledge of the promotional assortment, run 4 tactical manoeuvre/strategies from the promotional mix that you could use to evoke your local store. Be sure to formulate how it will development sales. (4 marks)1. Personal exchange to use a sales mortal to assist guests in making a purchase 2. publicizing using divers(prenominal) media channels to var. awareness of the harvest-home 3. Public dealing to create a good emblem of the company & crossway through publicity and sponsorship4. Sales forward motion to stimulate sales through coupons, discounts, contests & fussy offers7) Make 2 recommendations to Dominos Pizza incarnate on how the sel ling mix could be changed in order to ache customer needs and handle to grow the company. (4 marks) The merchandise Mix is a blend of product offering, pricing, promotional methods and dissemination system that brings a specific conference of consumers superior value.My two recommendations to Dominos Pizza Corporate would be disquieting the Product to run into smaller ad hominemised coat pizzas and my befriend recommendation would concern Pricing to have a modified introductory low price to win customers, to the new personal sized pizza. My recommendations would meet the more estimable = smaller sized portions of food to the ample minded customer and this would help with the evolution of the company.