When starting a new business, there are always many important decisions to make and rules and procedures to be followed. One of the first steps is choosing and registering a name for the business (Chajet, 2011). Naming the business is one of the most important decisions one would make about their business. For some people business names come easily while for others, finding the right name is a big challenge. Some people suggest a business name should be descriptive of the business while others suggest a name should be unique as it is the best way to be remembered.
A business name is an important part of marketing effort. It shows how customers perceive the business and the image of the business is based on this perception (Fox, 2012). It is
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Franchise owners do not have the freedom to make changes to their products and services based on their own personal interests or market requirements (Brockhouse, 1989). The parent company is the one instead with the mandate to make such decisions. Independent business owners, despite the high likelihood to have a higher investment cost to start and operate their business, have more control over decisions to invest and what time to do so. In Shania’s case, she has many willing investors and therefore as an independent business owner she has the power to decide whether to include them or not. She can also decide who to include and who not to include as she pleases. Franchises are associated with risks of negative publicity like for instance if one business under the franchise screw up the blame is put on the entire franchise, but for Shania as an independent business owner doesn’t have to worry about such possibilities. Freedom does bring happiness according to online surveys. The greatest reward of being an entrepreneur is the ability to control one’s destiny and the destiny of their business (Jenkins, …show more content…
The name also sounds unique and not like all the rest of other coffee houses therefore cannot be easily lost in the crowd. The name stands out dramatically even it doesn’t what the business does. The name is also legally available therefore Shania has full rights to the name. The Gathering Place does not lend itself to initials therefore safe from drowning in the list of other names of businesses that have initialized due to their exceptionally long names. Another advantage to the name The Gathering Place is flexibility and expandability available to it. Since the name does not actually describe what the business does, Shania can offer a raft of other services without the need to update the name. A good business name has to be linguistically clean. How it is pronounced by Spaniards, the French, and Italians or by any other native language speakers should not bring out a completely different meaning (Chajet, 2011). The Gathering Place is fairly easy to pronounce and therefore serves to be inclusive to different language speakers. A name that will not age quickly is also of paramount importance. The Gathering Place is not an expression that can be superseded sooner or later and also plays well across all
The Shannara Chronicles is a complex and thrilling tv show that portrays the hero’s journey in an interesting way. The show follows both a male and female protagonist.This leads to an interesting dynamic in the hero's journey. While both heroes undergo the process in their own ways, there are changes that are only developed through the protagonists being together.
-Store brand name enables product to be accepted and adopted more easily by consumers because of brand recognition
Prospect to create brand name and consideration towards new market who are comprised of high scholars’ specifically
The article talks about how valuable a name can be. Whether it is the name of a person or a company, a name can bring about monetary value to someone. “Like any asset, a good name can be bought or sold.” (Clarion-Ledger) The article uses examples such as the names of companies and goods, and relates them to a value that society has placed on them. “If you have a good thing, it will draw a crowd.” (Clarion-Ledger) It is the crowd that will respond to the name and spend money in that direction due to name familiarity.
The purpose of the following paper is to be able to inform the reader(s) of the paper about the business goals of the ownership and operations of a Sports Bar Franchise. The topics of discussion will include the description of the goal of the business and subtopics of the types of goods and services that are provided by any Sports Bar Franchise, what types of customers will this business attract, and lastly, how and where the specified services are made available. The paper will also include dialogue about the strengths and weaknesses of an assorted of business organizations and which one would be most appropriate for the author’s business venture.
Demand for Panera franchising opportunities was very high, which allowed Panera to be picky about where and with whom they would do business. Panera determined where bakery-café locations could be. The franchisees bore the cost of opening new locations, and were required to obtain their ingredients from the home company. Expansion using the franchise model provided many upside benefits for Panera, while limiting the downside r...
Business growth general is assumed to be good; bigger is assumed to be better (Hess, 2011), but if the proper planning is not in place it can lead to a business failure. Beginning a business based on something she loved, and needed in her life Susan Feller made the brave decision to build a successful business by baking and selling gluten-free cakes and desserts. After her retirement she focused on her dream and solving her own issue, finding food safe and healthy to eat for those, like herself, with Celiac disease and gluten allergies, but they also had to be delicious. Feller had some tough decisions to make as a small business owner, would she be able to keep up with the demand, how can she grow her business and what if she decided she had had enough and wanted to close the business? These are all decisions any business owner have to face at one point or another.
The Shannara Chronicles first aired in January of 2016. The complete second season was released on Netflix in January of 2018. Director, Jon Favreau, of Iron Man works as the executive producer of The Shannara Chronicles, along with writers Alfred Gough and Miles Millar who are the creators of Smallville (Zeitchik). Poppy Drayton, the star of the first season, previously appeared on Downton Abbey and the movie series When Calls the Heart (Collie). “’The Shannara Chronicles’ is reported to be MTV’s most expensive original production ever” (Butler).
Distinguishing one product from another depends on the target market’s ability and in turn the success of any business or consumer product (Lamb, Hair & McDaniel 2009). In the marketing industry and the business world, brand is defined as “a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of others.” (Bennett, P.D., 1995). Brands are a common part of marketing and they serve as value to consumers. Brands also give firms a competitive edge over another and a certain leverage over its customers.
I am calling my business this as it is a catchy name, and the logo is
Porcini’s doesn’t present itself strong financially, so franchising could reduce this capital burden; however, franchising has considerably high cost and risks of having little or no control of the restaurant operations. The final option is syndication, provides Porcini’s with benefits of control without need of a large amount of capital investment. Additionally, syndication will transfer ownership to investor, but Porcini’s will maintain control. Furthermore, it will allow Porcini’s to control the hiring, training, and performance of management and consistency of the food service quality at each new property (Heskett & Luecke,
Not having to answer to a corporate boss is the dream of many and the flexibility that owning a business franchise creates provides this option. Success is not reached by simply creating a business, however. The level of success is measured by the size and efficiency of the business. Business growth is the driving force of the economy. The additional jobs and revenues created when a business expands allow the economy to grow at exponential rates. One of the fastest and most popular ways to increase the size of a business is to turn it into a franchise, which can then be purchased by individuals. Franchising provides opportunities that are beneficial to both the parent company and the purchaser. The company that owns the business can expand without having to pay such a large initial cost to open a new store since the franchise purchaser pays a cost to open the business. As well, the company can regulate many of the business activities so that there is a sense of consistency throughout all of the locations. The purchaser is allowed to use the trademarks and goods of the franchise which already have a large market presence. As well, they are provided with training and work standards by the company to help their business run smoothly (Kalnins & Lafontaine, 2004, p.761). Looking at the business model of the world’s largest food retailer, McDonald’s, provides great insight into franchising and business growth in general as well a better understanding of a global business that utilizes the franchising technique.
The ability of the management in positioning and establishing the product is a success in any company that operates for marketing and profit acquisition. Furthermore, the ability of the company and its management to complete and maintain a competitive edge among its competitor throughout the product differentiation is another basis to say that is successful. Also, innovation and the constant development on the product lines and the growing number of customers also define the corporate standing of a company. Effective branding strategy and strong brand name are an important part of the profitable business. But, all the strategies and all marketing theories can be worth nothing without the compliance of the desires of consumers.
The first step in any business is to think of or create a business idea. Without an idea, one cannot launch their business off the ground. A right direction is needed to create a business with a unique idea. However, other options include franchising or buying an existing business (1). Franchising allows an individual to run stores such as Burger King or McDonalds under the corporate name. It involves taking training classes and a heap of money in order to start a franchise. A Franchisee will have to buy products and services from the corporate entity they are franchising from, which is often required. Buying a franchise is like taking a piece of the pie from the company that is franchising and sharing that pie with everybody else. In addition having a franchise allows one to communicate and in essence become a big part of an added business opportunity (4). Franchising is far from easy to start and maintain for that matter. Starting a franchise involves a l...
A franchise is simply investing money in a location or store, and then having the store become your own business after learning how to manage the entire business. You earn the majority of the profits, and you also don't have to worry about operations. You'll be taught by the company on how it run the entire business, and this is the reason why this is a huge and very easy way to become rich. Franchises require quite a hefty investment depending on the business you plan to buy. However, if the business is in high demand, there is profits to be made. Take for exMple the Cold Stone Creamery business. Countless people purchase one of their many franchises. The money is very good, the opportunities are endless, and the fact that there is no more need for advertising is what makes this more worth the investment in the long