Franchise Royalty Template by vjz11249

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									                Finance Academy IV - Entrepreneurship

TITLE           Select a Type of Ownership                 DURATION          10 class periods
                                                                             (2 weeks)


OVERVIEW AND ANNOTATION
Students will participate in class discussion and use Cornell Notes Template for note taking as
the teacher lead class in analyzing different entrepreneurial opportunities such as purchasing an
existing business, joining a family business, buying a franchise and starting a new business.

CONTENT STANDARDS
           1.   Identify the advantages and disadvantages of purchasing an existing business.
           2.   Explain the steps involved in a buying a business.
           3.   Recognize the advantages and disadvantages of joining a family business.
           4.   Evaluate franchise ownership.
           5.   Recognize the advantages and disadvantages of starting a new business.

LOCAL/NATIONAL STANDARDS
    Alabama Course of Study – Business Technology Application; National Business
     Education; HHS Curriculum – Finance Academy
        1. Identify the advantages and disadvantages of purchasing an existing business.
        2. Explain the steps involved in a buying a business.
        3. Recognize the advantages and disadvantages of joining a family business.
        4. Evaluate franchise ownership.
        5. Recognize the advantages and disadvantages of starting a new business.

PRIMARY LEARNING OBJECTIVES
           o Students will participate in class discussion and use Cornell Notes Template for note
             taking as the teacher lead class in analyzing different entrepreneurial opportunities
             such as purchasing an existing business, joining a family business, buying a franchise
             and starting a new business.
           o Students will evaluate a franchise opportunity and will report their evaluation in an
             MLA report and will share their findings in class through a short slide show.

MATERIALS/EQUIPMENT/TECHNOLOGY RESOURCES
     1.    Data Projector
     2.    PowerPoint and Micro Type Software
     3.    Handouts – Math Connections and Critical Thinking Activities
     4.    PowerPoint Presentation – Entrepreneurs Ideas in Action – Chapter 4.1 and 4.2
     5.    Franchise Project Handout


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BACKGROUND PREPARATION
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PROCEDURES/ACTIVITIES – Monday – Run an Existing Business
STEP           MIN.                                                ACTIVITY
  1.          30 min        Teacher will lead class in Identifying the advantages and disadvantages of
                            purchasing an existing business, explaining the steps involved in a buying a
                            business and recognize the advantages and disadvantages of joining a family
                            business. (Use PowerPoint Presentation: Chapter 4.1).

                            Students will take notes using Cornell notes format (Provide Template).
  2.         10 min         Students will answer the following critical thinking questions:
                               1. When you purchase an existing business, why is it important to
                                   know the owner’s reason for selling?
                               2. Will you consider joining a family business? Why? Why not?
  3.         10 min         Teacher will lead class in discussing answers to critical thinking questions.
PROCEDURES/ACTIVITIES – Tuesday – Own a Franchise or Start a Business
STEP           MIN.                                                ACTIVITY
    1.       25 min         Teacher will lead class in evaluate franchise ownership and recognize the
                            advantages and disadvantages of starting a new business. (Use PowerPoint
                            Presentation: Chapter 4.2).

                            Students will take notes using Cornell notes format (Provide Template).
    2.       15 min         Students will apply math skills and solve the following problem:
                               1. John and Molly Brighton want to save enough money so that in five
                                   years they can purchase a cleaning service franchise. They have
                                   found a CD that earns 3%. How much will they need to save each
                                   year in this CD if the franchise fee is $19,500 and start-up costs are
                                   $15,200?
                               2. If John and Molly’s cleaning service franchise earned $34,000 in
                                   profits the first year and the royalty fee is 6 percent, how much will
                                   the Brighton’s first royalty payment be?
    3.       10 min         Teacher will lead class in discussing answers to critical thinking questions
                            and Math connection problem.
PROCEDURES/ACTIVITIES – Wednesday through Tuesday (Week 2) –
Evaluating a Franchise Opportunity Project
 1.    250 min Students will evaluate a franchise opportunity.
       (5 days)
                Instructions:
                    1. Use the Franchise Opportunities Handbook or any other sources for
                        finding franchise opportunities.
                    2. Identify a franchise that interests you from any of the following
                        industries or types of business: Retail, Service, Manufacturing, and
                        Wholesale.
                    3. Research the franchise and evaluate the opportunity using the
                        questions discussed in class. You may need to use other ways to get

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                               information aside from the Internet, such as conducting an interview
                               by phone or in person.
                                   a. What is the projected demand for the product or service in
                                      the area I want to locate in?
                                   b. Will I be guaranteed an exclusive territory for the duration of
                                      the franchise term, or can the franchisor sell additional
                                      franchises in the territory?
                                   c. What are the costs and royalty fees associated with the
                                      franchise?
                                   d. How profitable have other franchises in the area been? What
                                      do other franchises think of the franchisor?
                                   e. How long has the franchisor been in business? How
                                      profitable is the franchisor?
                                   f. What services does the franchisor provide? How will the
                                      franchisor help me with marketing, merchandising, and site
                                      selection?
                                   g. What happens if I want to cancel the franchise agreement?

                            4. Write a short report (MLA style with Works Cited Page) about your
                               findings or answers to the eight questions above.

                            5. Prepare a short presentation to share your findings in class.

PROCEDURES/ACTIVITIES – Wednesday and Thursday (Week 2) –
Presenting a Franchise Opportunity
 1.   100 min Each student will present and discuss his/her franchise evaluation in class
      (2 days) using a short PowerPoint presentation.
PROCEDURES/ACTIVITIES – Friday (Week 2) – Quiz and Video Activity
Pep Rally Schedule – 44 min class period
  1.   20 min   Students will take an online quiz on Selecting a Type of Ownership
                (Entrepreneurship – Ideas in Action: Chapter 4.1-4.2) at www.quia.com
                (complete URL will be given in class)
  2.   22 min   Students will view another clip of “ABCs Shark Tank” observing
                presentation skills and how entrepreneurs present their products to
                prospective investors.

ASSESSMENT STRATEGIES
    1. Teacher will grade individual student’s keyboarding technique following a rubric and will
       be counted as a test grade.
    2. Teacher will grade activities and count as daily work grade (50%).
    3. Online quiz will be counted as quiz grade (30%).
    4. Franchise Project will be graded based on a rubric and will be counted as project grade
       (30%)

SUPPORT & EXTENSIONS


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REMEDIATION/ACCOMODIATION/MODIFICATION

Modifications will be provided based on students “individual Educational Plan” and “504s”

EXTENSIONS
None




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