11 May DESCRIBE HOW YOU WOULD SUCCESSFULLY COMPETE IN THE CANADIAN MARKET.
The Business Scenario
Assume that you are one of the partners to a distinctive sports store called The Peak. Since you and your partner formed the company in 2010, in Alexandria, VA, it has been doing a brisk business. It made a net profit of $320,000 at the end of its first year in business. Its revenue and profits doubled in in 2012 and 2013. It tripled in 2014 and it is expected to quadruple in 2015.
It expanded and diversified its sports wear, gears, equipment and sports activity services during the past years and opened a brach in New York and Los Angeles. Your customer base has expanded way beyond your area of business. Your online business has particularly done so well that you have been shipping your products all over the US and recently the demand for your products stated increasing quite greatly from Canada.
An interested Canadian investor has approached you to invest in the business. You and your partners decided to start a franchise business based on your sports business model. Your Toronto partner will be your first franchisee.
Your Assignment:
Research and write how you will go about making this franchise business a successful one.
– Describe your business model and explain how you can transfer the success of your spots business to your Canadian franchise.
– Describe how you would successfully compete in the Canadian market.
– Discuss your SWOT
– Provide graphic illustration(s) of your franchise capital, Canadian business activities and profit projection of your first year.
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