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In essence, the franchise model combines entrepreneurial behavior with a structure to support design process.It is one of the best organizational forms to continuously innovate existing business models. is President of Philadelphia University, and has had many years of leadership experience at the highest levels of both academia and business. Spinelli was co-founder of Jiffy Lube International and Chairman and CEO of the American Oil Change Corporation. Spinelli’s work has appeared in the Journal of Business Venturing, the British Management Journal and Frontiers of Entrepreneurship.
Effective franchise companies are efficient sharers of data throughout their system.
Hundreds or even thousands of franchisees (entrepreneurs)are working on and solving problems that they share across the system.
You get guaranteed return on investment due to their gigantic historical performance numbers and internationally recognized brand and not many franchises can compete with that.
I've started and successfully harvested businesses. Much of my passion about planning has to do with the immersion into the detail, texture and context of the market required of the entrepreneur to write a plan. But, I've always said a plan is obsolete the moment it is printed.
When writing a business plan for a Mc Donald’s franchise it is important to demonstrate the in-depth understanding of the franchise agreement as all Mc Donald’s restaurants must operate in line with the “Mc Donald’s System”, a concept of restaurant operations that includes, among others, rights in trademarks, manuals, and other confidential business information, and operational, real estate, and marketing information.
According to IBISWorld, Mc Donald’s has 37,000 restaurants in over 100 countries, out of which more than 90% are operated by franchisees, the remainder being company-operated stores.Generally, no financing arrangements are offered by Mc Donald’s.Mc Donald’s allows franchisees to open a new restaurant or purchase an existing one.Joorney Business Plans has experience in creating long-term financial projections for Mc Donald’s restaurants and understands the specifics pertaining to the initial investment requirements.Mc Donald’s in-house advertising and marketing departments develop overall strategy for the national programs and recommend them to franchisees.World class entrepreneur and educator Steven Blank says entrepreneurship is a good idea seeking a business model.I'm particularly impressed with entrepreneurs who use what some people call "design process" to craft and re-craft products, processes and business models.This framework consisting of four key components: the offering (what), customers (who), infrastructure (how), and value (why) affords a lens to assess and innovate existing business models or create disruptive new ones.I've argued for many years that franchise opportunities create a structural advantage compared to corporate hierarchy because of operational synergies inherent in the franchise relationship.You may even patronize a variety of franchised businesses without realising that they are franchises.These businesses range from car servicing and financial services to yogurt and home repairs.