7 March 2011
Independent vs. Franchising
When it comes to making the decision of whether or not to go independent or to stay as franchise we cannot decide on which one would be good for us as a whole. Jessica feels that if we go independent that we would connect better to the entire world. By doing this we would create a website, move to a better location, because it is not only about the brand name recognition but more so about where we are located to better serve our customers. We would also have more flexibility to the rates that we charge and other things that normally the franchise would restrict based on their standards. But if we go with Nick and continue to stay as a franchise we would have a more centralized reservation system, a better way to advertise the hotel by doing campaigns, and keeping the brand recognition would also help out the business. There are many pros and cons when it comes to either going independent or staying as a franchise.
Independent businesses have been and will always be the backbone of our economy. There is no real definition of an independent business. Independent businesses can supply their customers with personalized service. They can also work in a smaller market than a bigger company. Independent businesses are more efficient because any resource not used could ruin a small business, because of that independent businesses are more productive than franchise businesses. There are 15 to 17 million independent businesses in America today. In the 1800's most of American’s goods and services were handled by small businesses. It was not till the nineteenth century that franchise companies began to grow. Independent businesses were the way immigrants made a living. There are many pros to owning an independent business. The most flattering part of owning independent businesses is that most owners have higher incomes. They can put up to 30,000 dollars into retirement that allows money to grow over the years...