John Career Development in Franchise Industry Mechanism - Case Study Example

? Franchise Management Franchise Management In modern day business stewardship, the idea of owning multi ventures is advisable; taking to account those different businesses survives differently in a rapidly growing and changing economy. A franchise is advisable since it allows the individual to carry out legalized commercial activities on behalf of the firm. The advantages associated with a franchise business are the limited liability concept of an investment. This paper will attempt to analyze John career development in franchise industry mechanism and critically providing background knowledge on how John should act as a new Vice President of Quizno’s Toasted Sub Sandwiches. The description will seek to apprehend four business ventures that John indulged in, and how they were substantial in building his career. The discussion will provide the merits and demerits of each particular venture; as well as, providing substantive recommendation that John could have opted at each business venture. Background One: Radiator Repair Based on the information presented in this extract, it is good to acknowledge that the radiator business has significant impact on John life. Firstly, John through the business got accustomed to running a service business. On this account, it is good to understand that the radiator business has significant challenges. The knowledge that the business has multi-customers with diverse needs hardens John, equipping him with the ability to handle different customer needs differently. Again, the knowledge that John conducted a family business has significant impact on how he could handle future business. Primarily, family businesses are challenged by a plethora of factors, the concept of trust and authenticity often dominates different segments of the business. John was hardened to understand the essentiality having a manly figure in the business. This will later be reflected in his future business indulgence alongside different companies. However, there are categorical limitations of this business venture. Firstly, the consideration that radiator repair is a technical job which in any case have limited compensation is not a great idea for an employee. Again, his step-father never encouraged John to take over the franchise and in this case, John was relegated to the concept of a mere employee. In fact, the decision to leave the franchise is whole bestowed on the knowledge that his salary at the radiator business was not sufficient enough to manage his life. John had a family along the way and the radiator venture was not a substantive investment opportunity. In my opinion, John Leaving the radiator repair business owned by his father was a resounding move since it would enable him to look into a broader concept in learning new challenges of building a business from scratch. Background Two: Automotive paint touch-up A prominent character in John is his will to learn new things and his optimism. The idea to enter the automotive paint touch-up business was a bold step considered between John and Joan. The family reallocation to Colorado to build up the franchise was a realistic concept. According to the extract John and Joan did build the business for several years. The advantages of this business are the reallocation and consequently, building the business from scratch in an area which John and Joan lacked market. This was a logical step since it hardened John business concept making John understand the ideal reality of operating a business in a foreign environment. However, this strategy attracts criticism in some sense. Firstly, the knowledge that John and Joan left a prevailing market, in this case, John has start-up customers in the automotive industry is a dominion factor of consideration. John and Joan could have done successfully better if they continued with this alternative in Texas. Again, the consideration that this business was a blue-collar type of technical investment was not advisable venture considering John had deep dreams in management. In my opinion I would recommend John to continue considering Texas a viable place for investment. This is backed with the knowledge that John had traditional market in Houston for this particular business. Background Three: Quizno’s Toasted Sub Sandwiches The venture at Quizno’s can be considered the most realistic and promising business initiative that John opted for. Primarily, John and his family were in a position to learn about the nature of challenging business ventures by opting for this particular entity According to the extract; John initially qualified for one unit, which in this case was good for startup. The extract further clarifies that the family qualified for the second unit and a third one. This is a direct knowledge that the business was expanding. In fact, John business background necessitated the revival of the third unit which was considered underperforming. Depending on his age and nature of his family, it was advisable for John to run this business venture. In franchise business the goal is improving a business the value of an asset before reselling it. This is a direct replica of John business strategy. However, the desire to sell Quizno doing good units was not an appropriate move. Primarily, John direct commitment to the business was required, and in fact, his family could do it better. The extract does not estimate the value of the units, but it is good to consider that the units by then were at their best compared to other regions across the country. For advice, John could have retained the units under his direct command and ownership before taking up the Job in the consultancy firm. Background Four: A consultancy Firm Depending on his age, skills and expertise the venture in the consultancy firm was a deliberate resounding move. Firstly, his age demanded for an ideal management job. This meant that John was exempted from the struggles involved in reviving dying business. His knowledge provided sufficient applicability of the job, and in this case, the consideration that John did offer his overall assistance to the business in a background manner. Again, according to the extract, the new job had a steady salary with good benefits. The idea of promoting John to a managerial chair was essential in building a strong business reputation, one which could offer administrative support vital in answering challenges of different franchises. This move could exempt John direct commitment to the franchise instead being promoted to an overseer chair was equally beneficial. Consequently, Joan commitment in building vital social relationship vital in answering the business challenges was an essential move ensure that John experience in franchise could be duplicated the above mentioned business partners. In particular, the direct business relationship with Phil was a direct move where John could exercise his skills acutely. However, this strategy attracted scrutiny of some sense. Primarily, John had to leave his family to take up the Job in Denver. For a man of his age with this consideration that he had teenagers – a risky age, was not socially advisable. The strategy Based on the above information of above description, it is coherent to understand that John required an absolute business strategy one which could offer substantive solutions to the franchise. Reviewing Quizno’s History This is a deliberate move to view up the historical process involved in building the business venture. This will include verifying contracts and financial information. Once this information is generated, John will be able to understand the actual standing of the franchise, as well as, be in position to identify poor performing business. John will require outlining different situations generated by after analyzing useful documental information. However, this strategy may be limited by lack of sufficient document information (YorK, 2009). Managing and Squeezing cost This will be essential that excessive operation costs are identified and curtailed. The analysis on financial performance will provide John with substantial information about what is needed and what is not needed. The advantage of this strategy is that overall expenses will be managed. In my opinion, I would advise John to let each franchise control its own expenditure, and payments are done through the name alone (Meaney, 2004). Based on this background information of operating a new business in a largely new market, this will provide a resounding approach by understanding what each franchise intrinsically requires and what it does not require. Identification of a marketing program This is alongside financial initiative that will seek to apprehend an overall marketing campaign. Primarily, it is necessary to consider whether the fees paid by each franchise are substantial in orienting a successful marking campaign. Again, in considering a market campaign factors related to geographical, time and infrastructure abilities should be apprehended (Spinelli, Rosenberg, & Birley 2004). John will need to chair a meeting with representative from different regions with the goal to identify how to deploy a lucid marketing campaign. Team building To tackle a lucid, marketing and financial campaign, John at the headquarters will need to identify a reliable team. The team will comprise financial actors, marketers, system strategist, and human resource managers amongst other players. This will be expected to prompt John to an oversee analysis (Windsperger, 2004). The advantage of this system is that it has substantial background in enabling team cooperation alongside other advantages. Building Infrastructure John will be required to understand the nature of existing infrastructure and how to timely build up assets based on this infrastructure. This will require the vice-president to build a list of franchise assets, categorizing them in those directly owned by the franchise and those which are partially owned by the venture (Mathews, DeBolt, & Percival, 2011). Infrastructure will be critical in adding of new marketing ventures, technology, staff and support internal processing of the organization. This is knowledge is going to be based on the second and third background, in which John build a business in Colorado from scratch (Keup, 2012). Conclusion This paper has attempted to analyze the advantages and disadvantages in a franchise industry. The discussion has appointed John case as an imperative example since it provides critical justification of how franchise market works, and the relevant information that an individual learns from each investment can be applied to provide a managerial approach as long as management of a franchise is concerned. References Keup, E. (2012). Franchise Bible: How to Buy a Franchise Or Franchise Your Own Business. New York: Entrepreneur Press. Mathews, J., DeBolt, D., & Percival, D. (2011). Street Smart Franchising: A Must Read Before You Buy a Franchise!. Entrepreneur Press. Meaney, J. (2004). How to Buy a Franchise. New York: Sourcebooks, Incorporated. Spinelli, S., Rosenberg, R., & Birley, S. (2004). Franchising: Pathway to Wealth Creation. FT Press. Windsperger, J. (2004). Economics And Management of Franchising Networks. New York: Springer. YorK, M. (2009). Franchise: Freedom Or Fantasy?. New York: iUniverse. Read More