Since the 1930s, the US has been a world leader in franchising. The franchising business model is rapidly increasing worldwide. Approximately forty percent of all retail businesses worldwide are managed through franchising networks. As a result, there is an ever-growing demand among franchising firms for employees with franchising knowledge, and there are expanding opportunities for those who wish to achieve business ownership via franchising. This course explores the various aspects of starting, developing, and managing both franchise networks and franchises within those networks. Through this course students will learn to better understand franchisor-franchisee relationships, and how both sides contribute to their mutual success. Profit, opportunities, legal considerations, international aspects of franchising, and how to gather industry data of franchising are emphasized.
Dynamics of the Family Firm
Family-controlled firms make up more than two-thirds of the world's economy. This course examines the unique characteristics of family enterprises and addresses the complex issues involved with creating, owning, and successfully operating a family business. Topics covered will include ownership, succession, governance, strategy, marketing, family dynamics, culture, and philanthropy. The course will benefit those from business-owning families, their advisors and those who want to learn more about this vital component of the global economy. The class will involve case discussions, guest speakers, experiential assignments and presentations on new ideas in family enterprise.
This course is designed for those serious about being entrepreneurs, and not for the faint of heart. Students are expected to succeed but fail more often, but to fail quickly and to learn from each failure. During these ten weeks, you will work on the actual launching of a start-up and de-risking your business model. You will be talking to customers, partners and competitors as you encounter the iterative process of how a start-up actually works. You will work in teams, learning how to turn a great idea into a great company. You will learn how to use a business model to brainstorm each part of a company, and customer development to get out of the classroom to see whether anyone other than you would want/use your product. Finally, you will see how to rapidly iterate your product to build something customers will use and buy. Each week will bring a new adventure outside of the classroom as you test each part of your business model and then share the hard-earned knowledge with the rest of the class. Students/teams may receive up to $2000* in seed funding for their venture.
*This award will be added to your financial aid award and will be applied first to any university charges currently not covered. If you currently do not have a balance due, or there is funding from this award left over after it is applied to your account balance, you may be eligible to receive a refund for that amount. We strongly encourage you to sign up for eRefund so that you can easily and quickly access these funds. Instructions to sign up for eRefund can be found at http://drexel.edu/drexelcentral/billing/refunds/financial-aid-refund/.