A case study analysis of the franchising strategy as an opportunity of successful overseas expansion for international real estate company, Engel & Voelkers.
Written in 2009; 10,018 words; 62 sources; APA; $ 202.95
Paper Summary:
This paper analyzes the franchising strategy as an opportunity of successful overseas expansion for international real estate companies. The paper explores the history as well as the general concept of franchising as an expansion strategy from both the franchisor's and the franchisee's perspective. The paper specifically focuses on the franchising strategies of Engel & Voelkers in the flourishing real estate market in the Middle East. The paper contains an appendix, as well as graphs and tables.
Table of Contents:
Executive Summary Introduction
Literature review
Terms of Reference
Introduction
Franchising - a Method of International Expansion
The Need for Franchising
Advantages of Franchising
Disadvantages of Franchising
Benefits for the Franchisee
Financial Benefits
Becoming a Franchiser
Careful Screening and Selection of the Franchisees
Developing the Franchise Package and the Operational Manual
Marketing the Franchise Package
The Basic Business Concept and Pilot Operations
Developing the Franchisor's Organization
Legal Aspects of Franchising
Franchising in Real Estate
Conclusion
Methodology
Introduction
The Research Process
Research Philosophy
Research Approach
Research Strategy
Time Horizon
Summary
Primary Research
The Interview Questions
Secondary Research
Main Advantages and Disadvantages of Primary and Secondary Research
Research Credibility
Limitations of the Research Methodology
Findings
Introduction
Company Overview
Engel & Voelkers - Franchising
Internal Analysis: Strength and Weaknesses
Engel & Voelkers in the United Arab Emirates - a Big Opportunity
The Real Estate Boom in United Arab Emirates
The "Freehold Zone" Regulations in United Arab Emirates - a Threat
The Impact of the Economic Crisis
The Economy in the Middle East Today
External Analysis: Opportunities and Threats
Conclusion
Recommendations for Engel & Voelkers
Recommendations for Engel & Voelkers Middle East
Appendix
From the Paper:
"Along with this diversified layout of the company, the specialization in the high end real estate market allowed Engel & Voelkers to earn substantial profits. This in turn places the company in a position to take on the risk of global expansion. The impressive company profile, the successful history and the company's ability to detect opportunities in the worldwide real estate markets attracted the interest of franchisees. Engel & Voelkers' expertise gets successfully transferred to franchisees by professional training which gives an overview of the standardized franchising model used in 32 countries. Furthermore, the constant monitoring of the franchisees' actions by the company's advanced IT system successfully controls risk. In addition to a common IT system, the shared marketing materials for more than 200 shops reduce the company's expenses in comparison to their competitors. The strategy against shop closures and retraction throughout the economic crisis reduced the losses to a minimum and left the company in an even more dominant position for the expected upturn in many markets, especially in the United Arab Emirates. However, the company has some weaknesses and faces several threats in the Middle East. The author briefly lists recommendations that should enable the company to avoid future difficulties and to continue its road of success."
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