Lackawanna BUS105 2021 April Module 3 Discussion (dq1+dq2) Latest

BUS105 Introduction to Business

Module 3 Discussion

DQ1 Research the costs and benefits of becoming a franchisee for a specific franchise. Basic information on costs and benefits is usually available at the franchise websites and also at websites such as Entrepreneur.com and The Franchise Mall (http://www.thefranchisemall.com (Links to an external site.)). Also search the Internet for any recent articles and reports relevant to the franchise that might impact its future business prospects.

From the student’s perspective, what makes the franchise an attractive opportunity? Has the franchise been “in the news” for any reason (good or bad) recently?

What is the franchise fee for the franchise? What other start up costs would a franchisee incur? What are the royalties and other ongoing fees franchisees must pay?

Does the franchisor offer any help with financing? If so, what type?

What types of training and support does the franchisor offer?

DQ2 The Small Business Administration (SBA) maintains a rich, vibrant website, and supports a number of high impact programs to support small business growth. In fact, every state has at least one local SBA office. Log onto the SBA website at www.sba.gov, and spend a few moments browsing. Be sure to check out the sections on business opportunities and training. Then find the page for the SBA office nearest your school.

How would this information be helpful for local small businesses? If you started a business, would you personally be likely to use any of the SBA resources? If so, which ones? Why do you think the government spends so much money supporting small business growth by providing this array of resources?