pagetop graphic

Business Ownership: The Franchise Option

Abstract

Students explore an alternative to starting a business from scratch – investing in a franchise. By learning the pros and cons of franchise ownership while researching and analyzing opportunities, students discover whether or not their personality, interests and abilities fit the franchise opportunities.
Curriculum Link: http://www.econedlink.org/lessons/index.php?lid=543&type=educator Author: Patricia Bonner, Posted: April 21, 2004, Updated: January 4, 2007

Expected Student Outcomes/Objectives

• Using a cost-benefit analysis, students will determine whether they are better suited for starting a business from scratch or through a franchise.
• Students will analyze a franchise for its appropriateness as a new business they would start in their local community

Description of Activities


Activity 1: What is a Franchise?
Students are introduced to the franchise concept as defined by federal and state laws. The role of the franchiser and franchisee are explained. Descriptions and examples of the two general types of franchises (product distribution franchises and business format franchises) are also provided.

Activity 2: Franchise Pros and Cons
Students are asked to imagine they want to start their own business. After reading about the pros and cons of franchises, they are asked to tell whether they think a franchise is right for them. They are directed to include three reasons for their decision as well as one negative.

Activity 3: Selecting a Franchise
Students identify and research two franchise opportunities that they think might succeed near where they live and go to school. They record their findings on a worksheet which offers a list of questions for an investor to consider when selecting a franchise. Answers to the questions can be found at the Franchise Zone and the corporate web sites of the franchisers. At the bottom of the worksheet, students are asked to make a choice between the two options and defend their decision.

If time allows, have students form small groups representing business partnerships. Each group must study the franchise alternatives selected by the various partners then choose one the group thinks would be most successful in the local community. Each group must make a presentation (an oral report, poster, or Power Point presentation) to the class on their choice. The class then votes for the franchise they think will most likely succeed.

Culminating Activity and/or Assessment

Evaluation is built into Activities 2 and 3. Activity 2 has students writing a paragraph that tells which would be better for them – investing in a franchise or starting a business from scratch. Their response must include at least three reasons for their choice and at least one drawback. Students also take a position and defend it in Activity 3 – this time they support their choice of a franchise for them to start near their home neighborhood or where they go to school.
This rubric can be used to assess both position statements. Weights for various elements being evaluated are at the discretion of the teacher.
Extention Activities are available for advanced students.

Instructional Materials Needed

Computers, Internet, Online Links to Activities, SmartBoard or LCD Projector, WhiteBoard/Markers, Word Processing Software, Pencil/Paper, Printer.

Instructional Materials Provided

Online Teacher Instruction Materials, Computer, Internet, Handouts, Links to Online Activities, Student Online Version: http://econedlink.org/543.

Rate this curriculum
If you think this curriculum is particularly good, please take a moment and tell us why. Over time the best will garner the attention they deserve.
comment iconRate and Comment

Additional criteria

Cost: Free

Curriculum type: Lesson

Academic subject areas: English; Career-Technical Education

States' Career Clusters: Business Management & Administration; Finance; Marketing

California Industry sector(s): Finance and Business; Marketing, Sales, and Service

Duration: one to two class periods

Grade Targets: 9, 10, 11, 12

Level of Expertise for CTE: Introductory

Standards Addressed: Alignment with Common Core, NGSS, C3 or CTE Standards evident  

National Standards for Economics and finance.


Online curriculum

Keywords: Benefit, Business, Choice, Costs, Decision Making, Entrepreneurship, Legal Forms of Business, Risk

Source: Web Site

Curriculum Link: http://www.econedlink.org/lessons/index.php?lid=543&type=educator

Reviewer Comments

The amount of reading required for this lesson is extensive, and therefore you may want to spend two class periods on this lesson instead of one. Or, you may wish to print out some of the material for the students to read prior to actually going through the lesson

Search curriculum SEARCH AGAIN

Basic search
Advanced search

Subscribe to Curriculum

Sign up for Academy News Clips