ENTR 2P91 Lecture Notes - Lecture 2: Global Entrepreneurship Monitor, Entrepreneurship Ecosystem, Maple Leaf Foods
3 Nov 2017
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Formed in various organization types ( non-profit, gov. , religious, self organization, co- op) Turnkey operation: product or service concept that is complete, installed and ready to use upon delivery or installation. Franchisor pays a lump sum to buy the franchise, but also has to pay royalties. Royalties: a share of the proceeds of a business from one party to another. Pros: marketing/advertising already in place to help launch franchise, real-estate resources to source best location for franchise, excellent support systems. Cons: strict franchisor rules, requirement to pay percentage of gross sales into franchisors marketing fund, potential competition from other franchisees in the network. Less risky than starting from scratch: subsumed a loyal customer base, equipment, location, employees and a favourable lease. Solve a social problem while making a profit. Receive grants to produce products to solve social problems. Can be for profit or non-profit organizations to solve social issues.
