ICEDELIGHTS

Essay specific features

 

Issue:

Business

 

Written by:

Leslie R

 

Date added:

April 8, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

7 / 1750

 

Was viewed:

7390 times

 

Rating of current essay:

 
Essay content:

Regardless of the timeline, the situation presents a concern with the franchisees ability to raise the amount of capital required to open their first three stores in a timely manner. • ICEDELIGHTS did not want to be legally bound to the Florida franchise because they felt they might not have sufficient resources to accommodate the franchisees...
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Evaluate the positive and negative features of the business opportunity Positive features: • Provides the potential entrepreneurs a business opportunity in a timely manner o They would be involved in the franchise before they had a lot to lose • Franchisees believe that they have the skill set to run a food franchise o The idea also seemed fun and financially rewarding • The management team at ICEDELIGHTS impressed the franchisees • The product, systems, and management were standardized by the franchisor • The franchisees could leverage the ICEDELIGHTS brand, product, training capabilities, and real estate experience once ICEDELIGHTS could provide the support • Franchisees could obtain rights to the entire state of Florida Negative features: • The franchise was new and not yet proven in the industry or the potential market • It took approximately one year between signing the rights and opening a store • ICEDELIGHTS could not commit to supporting the franchisees because their resources were at capacity o They were interested in “slow, quality growth” • The “homemade” product was actually produced off-site, frozen, and shipped to the locations • The product, systems, and management were standardized by the franchisor • The franchisees had no previous experience in the food industry • A tremendous amount of capital had to be raised to be successful • The franchisees would have to give up more than 25% of their company to investors o Investors had stringent requirements for control and repayment • The market had not been thoroughly researched or understood o Franchisees were not aware of the potential for this product in Florida • If ICEDELIGHTS could not provide the necessary support to the franchisees in the future, they would be left with little experience, a need to build a production facility, and a need to research their own locations • The franchisees would have to sign the agreement before visiting the market and determining the potential for business 3...
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