For this assignment, you will research a franchise you would want to own in the future.  Write a 4-page paper, double spaced with 1-inch margins with no more than 12-point font.

Discuss a western dancing club franchise or dance wearstore(dance apparel or shoe wear)

Provide information on the parent company that you will purchase the franchise rights from.

  • Background information on their founding.
  • Annual sales.
  • Number of franchises they currently have.
  • Are they a public or private company?
  • Number of employees.
  • What draws you to this franchise over others in the industry?
  • Describe the products or services you will be selling.
    • How are they different from others in the market?
  • Does the franchise have set prices you must charge for the product or service?
    • If so, list some examples.
  • Does the franchise provide a list of vendors or do they sell you supplies and products directly?
  • These costs can include franchise fees, equipment, supplies, royalty fees, building costs, advertising fees, etc.
  • How will you finance the start-up costs and initial operations for your business?
  • What support does the franchisor provide in return for the fees?
    • What gives you the indication you are receiving a good value with these services?

 Discuss your target market and the opportunity that you see with this franchise.

  • Who is your target market?
  • What makes you feel there is a need for this franchise in your intended area?
  • Is this market currently underserved or are you just hoping to take away sales from the competition?

Discuss the location of your franchise.

  • What are the demographics of the area?
  • Who are your main competitors?
    • How is your potential franchise superior to your competitors?
    • What weaknesses may you have in comparison to your competition?
  • Include information about the area that will make it worthwhile for your location. (For this section Williston, ND needs to be the location discussed)
    • Be sure to keep in mind that many franchises won’t allow you to locate them in low population areas. You may also be limited in where you can place your selected franchise.
    • Are there any other franchisers already running this company in the area as well (for example multiple McDonald’s in the same city)? (Keep in mind that you may not be able to operate a franchise that someone else holds the rights to).

Discuss some information about you or your team:

  • What skills do you have that will help you become successful in this industry?
  • Are you familiar or have any experience with the product or service that you will be selling?
  • What skills would you like to obtain through investors or additional partners?
  • If needed, how much $$$ and time will the partners devote to the business?
  • If needed, what % of the company would each partner hold?