Franchise (Essay Sample)
Describe a franchise system that operates in your region but does not have an international presence. Provide information about the products or services sold by that franchise system, its size in terms of number of units, and the key elements of the service delivery system.
Prepare a strategic plan for a franchisor who would like to expand operations into a neighbouring country. In the strategy you must address the possible ownership structures, systems of monitoring and control, and modifications (if any) that might have to be made to the system to accommodate the laws and customs of the target country.
Justify your strategic plan by making reference to theories about franchising and practical examples of successful international expansion. You can assume that the franchisor has the necessary capital to carry out your strategy.
Belvoir is one of the leading franchising companies in the UK and has celebrated 20 years for the successes and longevity it has achieved due to its initiatives aimed at developing, introducing new initiatives in the market and investing. Currently, the company is offering sales services for its property management alongside lettings along with over 160 offices in the UK. The company was funded by Stephanie and his husband, Mike Goddard in Lincolnshire (Asif, de Vries, & Ahmad, pp. 664-677, 2013). The company grew in its service delivery, a factor that earned it awards as the best letting agency equipped with specialism and professionalism and deals in lettings, and real estate management.
This company turned to a franchise in the year 1996 when it opened its doors to the public. The company is said to have floated in the AIM Market of the London Stock Exchange in the year 2014, a factor that helped it's secure its future and its ambitions in expanding its operations. This paper, therefore, seeks to prepare a strategic plan for Belvoir in its attempt to expand its operations into Australia (Asif, et.al). Also in this paper will be the possible ownership structure, the company's systems of monitoring and controlling its operations, and some modification approaches aimed at meeting the requirements of the law and giving this company success in the new market.
Strategic Plan for Belvoir
Belvoir has been a pioneer in the real estate management industry in the United Kingdom, having introduced their services to several towns in this country. In addition to this, Belvoir is seeking to reinvent itself in other European countries where the culture of the real estate is slowly picking up, It is upon this foundation that it is significant to analyze this companies strategic plan and its entry modes in Australia since their success levels depends on their ability to adopt viable tactics that will allow the international influences to shape the nature of their products and services while still maintaining their core values in business (Asif, et.al).
In the strategic plan, it will be essential to also analyze the global expansion strategies for Belvoir and determine how its marketing strategies can compromise between the prospects of standardization and adaptation to the targeted audience preferences (Asif, et.al). Through a marketing mix approach that will initiate the approach of price-place-promotion tactic to the rewarding of loyal clients and encouraging them to share the differences in products and services and the delivery at Belvoir through the social media, the company is also pursuing the different ideas and views of its customers through an approach that incorporates the crowdsourcing. However, it is essential to mention that Belvoir's entry mode selection will wholly depend on its managers abilities in preserving the company's core values in its current operations.
Globalization and technology remain the central core macro-environmental factors in the contemporary markets that different businesses have imposed to aid their strategies of expansion into various international markets. This element, therefore, gives a company the opportunity to survive in the competitive foreign market. However, it is important for Belvoir before taking any efforts to expand internationally to carefully carry out an evaluation of the factors that influence their decision in regards to the vicinity it wants to develop and the appropriate entry mode into this new region (Asif, et.al). Through a timeline geographical evolution of Belvoir that was carried over a period of time, it was discovered that the company has an aim of increasing its global presence by becoming the best real estate management company in the global market.
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