FRANCHISING IN IRELAND - SHOULD FIVE GUYS GO IRISH?
Making a decision on products and countries seemed daunting at first. Brainstorming with associates and friends to find that perfect idea that held my interest seemed impossible. Several ideas were discussed and brainstormed, however, when thinking about restaurants and franchises the first idea was born. Five Guys Hamburgers and Fries seems the perfect fit for Ireland and there began my journey.
From about 1995 to 2007, Ireland developed a very rapid economic growth called the Celtic Tiger, going from one of the poorest countries to one of the wealthiest. The Irish had a low corporate tax rate, borrowed money from the European Union and invested these funds in education. These and other factors attracted major companies such as Dell and Microsoft, and these companies were encouraged to locate to Ireland. These companies found that lower employee wages, low taxes, and membership in the European Union were all factors to be considered in deciding to move to Ireland. Ireland also has a state run agency that encourages start up businesses by providing financial, technical and social support. In 2008-09 Ireland entered a recession - the first in over 10 years.
As Ireland faced this major economic crisis, as did several other countries , the Irish unemployment rate increased to 8% in 2008, and the housing market went from 14-16% in 2006 to approximately 5% in 2009. By April 2010, unemployment was 13.4%. The Irish government has taken across the board cuts in spending and in 2009 budgets including wage reduction for all public servants. Also, in 2009 the Irish government established NAMA - The National Association Management Agency. This agency acquires property and...
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...ket research would be needed to further investigate the opportunity and feasibility of opening a Five Guys Burger and Fries in another country. The Five Guys concept of advertising where the potatoes come from would be a great advertising hook in Ireland, not to mention serving the fries in paper bags. Hopefully, using fresh potatoes from the Irish countryside would be appealing to the Irish, instead of frozen French fries many fast food restaurants use. If I had several million dollars and an Irish business partner, I would love to invest in opening Five Guys Hamburger and Fries restaurants in Dublin, Ireland and I think it might just give McDonald's and Burger King some competition. I would also want to explore and investigate Irish liquor licenses and whether liquor (beer and wine) could be served and be allowed in a Five Guys Hamburgers by the Franchisor.
...ults of the recession. In order for this never to happen again, there is a need to learn from the mistakes in the past and to look for the warning signs. The problem is not just restricted to one country, but is a global problem and needs to be addressed as such.
The Success of the British Government in Trying to Deal with the Irish Troubles in the Years Since 1972
Not only did Carter and Reagan Administrations help cause the Recession, President Clinton helped. “Clinton then established official government poli...
With the after effects of the stock marketing falling in 2008, and less investments involving risk and the GDP falling. This is when the economy began turning internationally. With imports, exports and foreign investment falling along with the combination of employment and production being cut back this recession affected the global economy. The unemployment rate in the United States began to skyrocket as well. Below is a graph depicting the unemployment rate in the United States during the 2008 recession. This graph data is from Oregon Economic Crisis Analysis.
"Studying McDonald's ABroad: Overseas Branches Merge Regional Preferences, Corporate Directives." Editorial. Nations Restaurant News 11 Nov. 2005: n. pag. MasterFILE Premier. Web. 5 Mar. 2013.
This paper will provide an argument for diversification to be presented to board of directors for Starbucks. A strategy for diversification indicating the products and industries for diversification and how synergies may be gained will be provided. The identification and the discussion of the foreign market Starbucks should enter will be presented, along with the strategy it should use to enter the market. Challenges Starbucks may face in the foreign market will be discussed, as well how it might respond strategically to minimize the impact of these challenges.
This particular case is about the implementation of the popular fast-food chain, Burger King, into the Japanese market. Despite its’ strong market position in other countries, Burger King has some difficulties to face within the Japanese market. In this report, my team and I will analyze Burger King’s current situation and problems and suggest alternatives.
Ireland was once regarded as the poorest of the rich countries in Europe. That all changed dramatically in the 1990s when the Irish economy Grew at an unprecedented rate. For many years, it appeared that both internal and external dynamics were operating side by side to deliver sustainable economic growth
With the introduction of the Euro Zone allowed the Anglo and INBS to compete in the Irish market. Unfortunately, this resulted in the willing...
A franchise, by definition is a legal agreement that allows one organization with a product, idea, name or trademark to grant certain rights and information about operating a business to an independent business owner. In return, the business owner (franchisee) pays a fee and royalties to the owner. This one-time fee paid by the franchisee to the franchisor is referred to as a franchise fee. The fee pays for the business concept, rights to use trademarks, management assistance and other services from the franchisor. This fee gives the franchisee the right to open and operate a business using the franchisor’s business ideas and products. A royalty fee is a continuous fee paid by the franchisee to the franchisor. The royalty fee is usually a percentage of the gross revenue earned by the franchisee. The Federal Trade Commission (FTC) is authorized by the United States Congress to regulate the franchise business. The Federal Trade Commission oversees the implementation of the Franchise Trade Rule, which requires that franchisors disclose all pertinent information to potential buyers of a franchise, and monitors the activities of franchisors.
Today, Ireland is known as a land full of culture and pride. It is a beautiful land with rich music, art, religion, and tradition. Like any nation, however, Ireland has had its fair share of hardship. The most devastating of which was known as the Great Famine. The nation was deeply devastated by this event both economically and socially. The Great Famine claimed over a million lives due to hunger and disease and resulted in the exodus of another million all in the span of six years. It is uncertain whether or not the famine could have been avoided, but the severity of the famine could have definitely been reduced. There were certain policies and procedures implemented by the British that set the Irish economy up for inevitable failure.
Ronayne, T. 2004. Regions Without Work: Unemployment and Labour Market Policy in Ireland. [Online] Available from: http://www.wrc.ie/publications/regionsw.pdf [Accessed 7th May 2012]
The marketing team determined strategies and media for advertising the products in each of the prospective countries, as well as locations of sales. The team also made a thorough study of workforce availability.
Business Environment – The firm is considered a coffee giant company that is a big brand in the business being able to expand aggressively in the market worldwide before it entered in New Zealand. But the business environment of this country is quite unimaginable for a US based company for it to venture without having a thorough marketing analysis covering all the risks in the venture considering the distance and the traditions which differs a lot in many countries thus making it very unique and incomparable. It is only when the company is able to come up with the correct strategy in entering the business that will make it thriving. Starbucks New Zealand entered the Kiwi market by way of franchise and joint ventures. They partnered with a very stable local business partner called The Restaurant Brands New Zealand Ltd. In this case, the company is able to hurdle the market barriers including business laws, taxation, physical set up, traditional and cultural differences that may come along the way. (Starbucks, 2012)
An evaluation of the restaurant’s strengths, weaknesses, opportunities and threats served as the foundation for this marketing plan. The plan focuses on the restaurants marketing strategy, suggesting ways in which it can build on new customer relationships, and development of new food products and targeted to specific customer groups.