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Question: In the dynamic field of business expansion, franchising has become a ...

Mar 29, 2024

Question: In the dynamic field of business expansion, franchising has become a powerful approach that is growing in popularity due to its ability to scale a business in an environmentally responsible way. However, it is important to recognize that not all companies are natural franchises. Replicability, brand strength and operational consistency are some of the factors that determine whether a franchise is viable. Before going down the franchise path, companies need to have a successful, well-defined model, backed up by documentation. Chicken Restaurants (TCRS) is a Malaysian franchise whose signature products are traditional steamed chicken, roast chicken, honey Roast Chicken and soy sauce chicken. These iconic dishes are accompanied by perfectly cooked chicken fluffy rice, a tradition that originated on Hainan Island and has been around for years. Question: In the dynamic field of business expansion, franchising has become a powerful approach that is growing in popularity due to its ability to scale a business in an environmentally responsible way. However, it is important to recognize that not all companies are natural franchises. Replicability, brand strength and operational consistency are some of the factors that determine whether a franchise is viable. Before going down the franchise path, companies need to have a successful, well-defined model, backed up by documentation. Chicken Restaurants (TCRS) is a Malaysian franchise whose signature products are traditional steamed chicken, roast chicken, honey Roast Chicken and soy sauce chicken. These iconic dishes are accompanied by perfectly cooked chicken fluffy rice, a tradition that originated on Hainan Island and has been around for years. But in keeping with their motto "chicken rice"... In addition, "they also offer more than 25 other regional delicacies such as our famous stuffed fish balls, Penang Roiak and Hainanese curry Chicken, among others. Over the years, their R&D team has developed new dishes to offer customers a wider range of delicious dishes while ensuring they have an extraordinary dining experience at TCRS. However, to be a successful franchise business requires thoughtful planning and a well-executed strategy. By understanding the nuances and following recommended procedures, companies can make the most of franchising as a valuable tool This assignment asks students to use the chicken restaurant franchise business in Malaysia to analyze the following questions: 2. Conduct thorough market research to identify potential franchise opportunities in Malaysia. Consider factors such as consumer demand, competition and the regulatory environment. But in keeping with their motto "chicken rice"... In addition, "they also offer more than 25 other regional delicacies such as our famous stuffed fish balls, Penang Roiak and Hainanese curry Chicken, among others. Over the years, their R&D team has developed new dishes to offer customers a wider range of delicious dishes while ensuring they have an extraordinary dining experience at TCRS. However, to be a successful franchise business requires thoughtful planning and a well-executed strategy. By understanding the nuances and following recommended procedures, companies can make the most of franchising as a valuable tool This assignment asks students to use the chicken restaurant franchise business in Malaysia to analyze the following questions: 2. Conduct thorough market research to identify potential franchise opportunities in Malaysia. Consider factors such as consumer demand, competition and the regulatory environment.1200words

Answer

To identify potential franchise opportunities in Malaysia for TCRS, thorough market research should focus on consumer demand, competition, and the regulatory environment.

Solution

Consumer Demand Analysis: Assess the popularity of chicken-based dishes and other regional delicacies among Malaysian consumers

Competitive Landscape Assessment: Evaluate the presence of similar franchises and independent restaurants, their market share, and their strengths and weaknesses

Regulatory Environment Review: Understand the Malaysian laws and regulations that pertain to franchising, food safety, and business operations

Key Concept

Market Research in Franchising

Explanation

Market research is crucial for identifying viable franchise opportunities by analyzing consumer preferences, competition, and regulatory constraints to ensure strategic alignment and potential for success.