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ACC501 Business Finance
As more women consider entrepreneurship to take great control over their destiny, not all will start a business from scratch. More and more women are investing and running a franchise business.The reason for this is that Franchising has become so broad-based that almost every conceivable business can be franchised. This has given women more opportunity to pick a business that they can not only be passionate about, but one that allows them to achieve greater work/life balance.
Franchising is simply a network of interdependent business relationships that allow a number of people to share a brand, a successful method of doing business, a proven marketing and distribution system, buying power and most importantly to enjoy lower risk and higher profits (and resale values).
The key players in this relationship include the franchisor and the franchisee. The franchisor’s role is to increase awareness of the brand, create processes, systems, structures, products, marketing campaigns, training and support to help the franchisees increase market share. The franchisee’s role is to follow the proven operating system providing excellent service to their target customers in their respective local territory that is consistent with the original intent of the franchisor. Overall, the franchise relationship works best when there is mutual respect between franchisors and franchisees.
According to the NatWest/British Franchise Association Survey 2008, there are approximately 809 active franchise systems generating an estimated £12.4 billion to the country’s GDP last year. The industry grew at 15% whereas the UK economy only grew by 3.1%. Other noteworthy facts about Franchising in the UK as outlined in the report include:
Alex talks with regular Friday guest Bob Chapman, publisher of the the International Forecaster newsletter, a compendium of information on business, finance, economics and social and political issues worldwide, which reaches 10000 investors and brokers monthly. Chapman became a stockbroker in 1960 and retired in 1988. For 18 of those years he owned his own brokerage firm and was probably the largest gold and silver stockbroker in the world during that period. Starting in 1967 Mr. Chapman began writing articles on business, finance, economics and politics having been printed and reprinted over the years in over 200 publications. He owned and wrote the Gary Allen Report, which had 30000 subscribers. www.theinternationalforecaster… http www.prisonplanet.tv
Filmmaker Carol Pineau, in her feature documentary, “Africa: Open For Business,” explores the details of a very profitable entrepreneurship in Botswana.
