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Owning a Slice of Domino's

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Submitted By anto3knee
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Owning a Slice of Domino’s
A franchise agreement is an arrangement whereby someone with a good idea for a business (the franchisor) sells the rights to use the business name and sell a product or service (the franchise) to others (the franchisee) in a given territory (ie. Pizza). When it comes to the realm of competitive delivery pizza I know next to nothing; however, after thoroughly researching the industry, I have come to the conclusion (given that I have the means to acquire the necessary capital) I would prefer to open a Domino’s franchise, rather than start a pizza delivery business myself. My reasoning is as follows: the advantages of any franchise (Textbook pg. 132) include management and marketing assistance, personal ownership, a nationally recognizable name, financial advice and assistance, and a much lower failure rate. Out of these five basic advantages the main ones I would like to focus on are, management and marketing assistance, name recognition, and much lower failure rate. Domino’s, as a corporation, depends so heavily on their franchisees that they have no choice but to do everything in their power to help them succeed. The numbers state that 90% of all Domino’s Pizza store are owned by franchisees; thusly, the company offers a wealth of informational counseling and in-house expertise to ensure that every franchise turns a profit. Name recognition and lower failure rate go hand in hand in this particular case, the name Domino’s Pizza is bound to bring in consumers that the company has strove to build for years (and let’s be honest, people will always buy pizza) the name carries weight in the industry and, therefore, will allow you to tap into a market which is incredibly competitive and cutthroat. The taste of the pizza nearly comes second to your marketing strategy, unless the taste of your pizza is your marketing strategy…genius. Of course, as...

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