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Subway Franchise

Extracts from this document...

Introduction

Introduction Fred Deluca, a seventeen-year-old college freshman, and a family friend Doctor Peter Buck founded subway Franchise in 1965. The first restaurant opened on August 28th 1965. The first franchised Subway unit opened in 1974 in Wallingford. Subways target market is for adults between the ages of eighteen and forty-nine who eat quick meals and are looking for good tasting options. Subway is a private limited company and is not traded on the stock exchange. Subways main competitors are other fast food services such as KFC, Mc Donald's and Burger King. How the Franchise has grown over the years Subway Franchise was established in 1965 and since then has become increasingly popular. Subway has chains all over the world and is continuing to grow. Chains have recently been established in several towns and cities in Britain. In Northern Ireland, for example, Subway stores have recently opened in Portadown, Londonderry, Ballymena, Belfast and Lisburn. Advantages of Subway Franchise to the franchisee * It enables entrepreneurs to have an opportunity to provide a known product from an established brand. * The business which you are starting already has a good reputation and strong brand name therefore you don't have to start from scratch. This means the chance of failure is reduced. * The Franchisor of the business helps you with the setting up, marketing etc of the business. * You will be seen as less of a risk running a well-known franchise therefore more likely to be lent loans from the back etc. * The franchisor might advertise and promote the product nationally. * Services such as training and administration may be carried out by the franchisor. Disadvantages of Subway Franchise to the franchisee * You must pay money to the franchisor out of your profits known as a royalty payment. * You have to decorate the way the franchisor wants you to. Advantages of Subway Franchise to the Franchisor * They get paid royalty payment from the franchisee even if a loss is made by the franchisee and they don't have to do any work for this payment. ...read more.

Middle

Disadvantages of telephone applications * The employer does not know fully what the person is like for example their appearance. * Telephone applications only occur once therefore notes need to be taken accurately to make the correct decisions about who to employ. Advantages of letters * It allows the applicants to 'sell themselves.' * Personal presentation is shown. Disadvantages of letters * It is difficult to identify quickly the information that they are interested in and separate it from the other information the candidate has included. Advantages of curriculum vitaes * Gives candidates a chance to give a detailed account of their qualifications, career and interests in the way they want to present it. Disadvantages of curriculum vitaes * Don't have information in the same order therefore they are not as easy to sift through and pick out suitable candidates quickly. Advantages of application forms * The form covers the information contained in a CV such as personal details, education and job experience. * It helps the personnel department match a persons qualities, interests etc. * Has the same information in the same order and can sift through them quickly. Disadvantages of application forms * Some questions may be illegal, offensive or not essential. * Forms that take to long to complete may be completed haphazardly or at all. Interviews When applications are received, the organisation divides them into three categories. * Seems to be suitable-this means these people will be interviewed. * Possibly suitable-if there are not enough people in the 'seems to be suitable' category then people in this category will be asked for an interview. * Unsuitable-a polite letter of rejection will be sent to them. The selection interview is by far the most common technique used for selection processes. Interviews can be held on a one-one basis, on a two-two basis or in the form of a panel. Panel interviews are always the hardest for the candidates as they will find it difficult to feel at ease in such a formal situation. ...read more.

Conclusion

* Appraisal should improve the overall profitability of the business. Methods of appraisal Observation: The employee is watched by their superior while carrying out their work. This method is carried out in the employee's normal surroundings. This therefore shows a true picture of the employee's work. Interviews: The interview is a one to one discussion between the employee and their supervisor. The interviewer has the opportunity to discuss the employee's work and progress. This allows the employee to put forward his or her own ideas, identify problems in the workplace and try to improve them. Using interviews as a method of appraisal allows the employers to understand the level of initiative, ability to work as a team and the leadership skills of the employee. Self-appraisal: Sometimes employees are required to appraise themselves, to look critically at their own work, improve their efficiency and quality. This however has the disadvantage that some employees may not be aware of their faults. Employees benefit from appraisal because: * It can provide opportunity for promotion. * It helps set their pay levels. * It ensures they receive necessary training. * It provides regular communication with the employer on a one-one basis. * It gives employees the opportunity to discuss problems with the employer. * It sets clear objectives and acts as a motivator for the employee. Reasons for successful appraisal methods * Improve performance * Provide feedback * Increase motivation * Identify training needs * Identify potential employees for promotion * Award salary increases * Set out job objectives * Provide information for human resource planning * Assess the effectiveness of the selection process Performance can be measured against criteria such as output, quality and speed. The business can therefore use all this information to improve the areas of the business that are the weakest, either by dismissing employees which are of no use to the business or by perhaps redeploying them to a different area of work where they will perhaps enjoy more and therefore be more motivated, therefore higher production. Sarah V. Ferguson ...read more.

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