Miami Sports Ventures - Essay Example

The success of these companies beings with exceptional leadership as well as an innovative management team that is knowledgeable and experienced to handle the matters in the franchise business. Since this is a small start-up, we would not be in a position to have a big management team ( Liberson 23). The C.E.O. will be accorded the mandate to hire his workers. The management team will be liable for the running of the operations of this franchise under the authority of the CEO. The CEO will have the power to take the company to another level.


Marketing;
Marketing remains the greatest program and strength of this business. A proper marketing strategy will be deployed to effectively reach a wide range of markets with the merchandise. Funds will be used to produce advertising materials to attract customers. A robust financial marketing plan will be done for the franchise that would revolve around advertising. Several methods of marketing will be deployed with the motive of reaching a wider range of clients. Since this franchise will be entering the job market a new, it will dwell on providing traditional means of advising that will lower the cost of expenses ( Liberson 23).
Financial Needs
This franchise will ensure proper financial planning and will carry on with proper investigation to find the related costs. This capital to rise at the beginning of this franchise will be borrowed from different sources to fund all the needs of this business. It will be effective to have prepared a financial budget that will support the effective running of the business. The banks would be the last option in raising the funds for the start-up of the business. To incorporate a wide variety of stock in the business, a large pool of funds will be of the essence. The cost of franchises varies enormously depending on the segment one chooses ( Liberson 23). Costs can range. It is imperative that, before any franchise agreement, there are other related costs that one has to incur such as professional fees for the Attorneys reviewing the assessment of the franchise and registering it. Other costs like renting offices, equipment, inventory, insurance, and employee training, will also be incurred during this period. Read More