Many people dream of owning their own business but are afraid of the risks. Instead of starting a new business, however, one can buy a franchise. A franchise is a license issued by a large, usually well-known, company to a small business owner. Under the license, the owner acquires the right to use the company’s brand name and agrees to sell its products. In return, the franchising company receives a percent of the sales.
A major problem for first-time business owners is finding reliable suppliers of the goods and services they need: equipment, raw materials, maintenance, etc. It is easy to choose the wrong supplier, and doing so can be costly. Buying a franchise eliminates much of this problem. Most franchising companies have already found reliable suppliers, and franchise contracts typically specify which suppliers are to be used. This protects franchise owners from the risk of serious losses.
Another advantage of a franchise is that it can save a new business a lot of money on advertising. Advertising one’s product to potential customers is a crucial factor in a business’s success. A franchise owner, however, sells an already popu- lar and recognized brand and also gets the benefit of sophisticated and expensive advertising paid by the parent company.
Finally, a franchise offers more security than starting an independent (nonfran- chise) business. The failure rate for starting independent businesses is very high during the first few years; the failure rate for starting franchises is much lower. Finding one’s own way in today’s competitive business environment is difficult, and buying a franchise allows an inexperienced business owner to use a proven busi- ness model.
The reading and the lecture are both about the possibility to lower the risks and costs of establishing a new business through buying a franchise. According to the reading passage, the most common risks of starting a new business concentrate around choosing the suppliers, advertisement costs and rates of failure. The lecturer casts doubt on the claims made in the article. By stating that franchise neither eliminates the risks of choosing a wrong supplier nor reduces the possible additional costs or rates of failure, she posits that some concerns should be taken into account before relying on a franchise.
Firstly, the author of the reading defines the process of choosing a reliable supplier as a major problem of new businesses. He claims that buying a franchise eliminate this risk, but the lecturer disagrees with this statement. She contends that under a franchise agreement the businessman is allowed to buy products from approved suppliers. These suppliers may provide goods for higher costs or in a poorer quality, than those found in the open market.
Secondly, the reading posits that the franchised business is already a well-known brand, and the businessman does not need to spend additional funds on advertisement. The lecturer counters the point made in the article, and states that the franchise only advertises a brand as a whole, but not the newly established business under this the brand. Thus, the businessman is forced to spend additional money on advertising his own establishment.
Thirdly, according to the reading passage the franchise greatly reduces the risk of failure, as the businessman enters a ready business. By the way of contrast, the lecturer puts forth the idea that buying an already established enterprise with a well-known brand has twice greater rates of success than the business under the franchise.
To sum up, the franchise is not a suitable solution for the beginners and several counterpoint should be taken into account before setting up the business.
| Post date | Users | Rates | Link to Content |
|---|---|---|---|
| 2022-11-30 | predatoros | 85 | view |
| 2022-10-12 | Prabesh Dhakal | 73 | view |
| 2022-07-18 | SAPTORSHI GUPTA | 90 | view |
| 2022-06-30 | jaqenhghar1 | 73 | view |
| 2022-05-11 | jdkarmakar2021@gmail.com | 85 | view |
- Communal encyclopaedia 70
- palaeontology
- It is better to have broad knowledge of many academic subjects than to specialize in one specific subject 90
- In twenty years there will be fewer cars in use than there are today 76
- Children should spend all their free time after school studying Do you agree 90
Transition Words or Phrases used:
but, first, firstly, may, second, secondly, so, third, thirdly, thus, well, by the way, to sum up
Attributes: Values AverageValues Percentages(Values/AverageValues)% => Comments
Performance on Part of Speech:
To be verbs : 7.0 10.4613686534 67% => OK
Auxiliary verbs: 4.0 5.04856512141 79% => OK
Conjunction : 11.0 7.30242825607 151% => OK
Relative clauses : 7.0 12.0772626932 58% => More relative clauses wanted.
Pronoun: 16.0 22.412803532 71% => OK
Preposition: 43.0 30.3222958057 142% => OK
Nominalization: 6.0 5.01324503311 120% => OK
Performance on vocabulary words:
No of characters: 1678.0 1373.03311258 122% => OK
No of words: 322.0 270.72406181 119% => OK
Chars per words: 5.21118012422 5.08290768461 103% => OK
Fourth root words length: 4.23607819155 4.04702891845 105% => OK
Word Length SD: 2.87461575924 2.5805825403 111% => OK
Unique words: 163.0 145.348785872 112% => OK
Unique words percentage: 0.506211180124 0.540411800872 94% => More unique words wanted or less content wanted.
syllable_count: 508.5 419.366225166 121% => OK
avg_syllables_per_word: 1.6 1.55342163355 103% => OK
A sentence (or a clause, phrase) starts by:
Pronoun: 4.0 3.25607064018 123% => OK
Article: 9.0 8.23620309051 109% => OK
Subordination: 2.0 1.25165562914 160% => OK
Conjunction: 4.0 1.51434878587 264% => Less conjunction wanted as sentence beginning.
Preposition: 5.0 2.5761589404 194% => OK
Performance on sentences:
How many sentences: 14.0 13.0662251656 107% => OK
Sentence length: 23.0 21.2450331126 108% => OK
Sentence length SD: 42.979112155 49.2860985944 87% => OK
Chars per sentence: 119.857142857 110.228320801 109% => OK
Words per sentence: 23.0 21.698381199 106% => OK
Discourse Markers: 6.92857142857 7.06452816374 98% => OK
Paragraphs: 5.0 4.09492273731 122% => OK
Language errors: 0.0 4.19205298013 0% => OK
Sentences with positive sentiment : 2.0 4.33554083885 46% => More positive sentences wanted.
Sentences with negative sentiment : 10.0 4.45695364238 224% => Less negative sentences wanted.
Sentences with neutral sentiment: 2.0 4.27373068433 47% => OK
What are sentences with positive/Negative/neutral sentiment?
Coherence and Cohesion:
Essay topic to essay body coherence: 0.224552541201 0.272083759551 83% => OK
Sentence topic coherence: 0.0783480913924 0.0996497079465 79% => OK
Sentence topic coherence SD: 0.0515150076015 0.0662205650399 78% => OK
Paragraph topic coherence: 0.121343314209 0.162205337803 75% => OK
Paragraph topic coherence SD: 0.0496439599416 0.0443174109184 112% => OK
Essay readability:
automated_readability_index: 14.6 13.3589403974 109% => OK
flesch_reading_ease: 48.13 53.8541721854 89% => OK
smog_index: 8.8 5.55761589404 158% => OK
flesch_kincaid_grade: 12.3 11.0289183223 112% => OK
coleman_liau_index: 13.23 12.2367328918 108% => OK
dale_chall_readability_score: 8.55 8.42419426049 101% => OK
difficult_words: 77.0 63.6247240618 121% => OK
linsear_write_formula: 13.5 10.7273730684 126% => OK
gunning_fog: 11.2 10.498013245 107% => OK
text_standard: 9.0 11.2008830022 80% => OK
What are above readability scores?
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Write the essay in 20 minutes.
Rates: 81.6666666667 out of 100
Scores by essay e-grader: 24.5 Out of 30
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Note: the e-grader does NOT examine the meaning of words and ideas. VIP users will receive further evaluations by advanced module of e-grader and human graders.