Market Research and Franchisee Opportunities

The assignment provided is a reflective report on conducting market research for a new business. The student discusses their experience with analyzing market research, perception of authors, and conducting surveys using questionnaires. They also explain the reasons behind conducting these activities, highlighting the importance of each step in developing efficient information. The report concludes by summarizing the benefits of market research and franchisee opportunities for starting a successful business.

BUSINESS RESEARCH

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................2
TASK ..............................................................................................................................................3
1. Evaluation of effectiveness and usefulness of learning experience...................................3
2. Usefulness of learning process...........................................................................................3
3. Objective of learning process.............................................................................................4
4. Evaluation of learning........................................................................................................4
5. Explanation of learning process.........................................................................................5
6. Planning of this learning ....................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
This assessment shed lights on experience which researcher developed through
conducting research on franchising vs. opening up your own business; opportunities and threats
(Read and et.al., 2016). In this report, reflective writing will be provided on opinions and values
of learning experience where reason of conducting particular research activities is been
evaluated.
TASK
1. Evaluation of effectiveness and usefulness of learning experience
Explanation of opinion on learning experience
By doing research in an effective manner, I concluded with the opinion that individual
need to start business by opening franchisee because it is much easier and less expensive as
comparison to open your own business. With the analysis of research methodology where
research has been conducted through qualitative technique, I decided to conduct business in
franchisee because majority of responded agreed with same. While conducting this research
study I will able to analyse the biggest opportunities and threats which are associated with both
setting new business and opening franchisee (Pavel, 2018). In the type of franchisee, owner did
not need extensive business background or education because proper training will be provided to
conduct business of franchisee. With this study, My understanding in writing research paper has
been increased through this study.
Value of learning experiences
Before setting any type of business, it is essential to conduct a proper market research. It
is always been an important part of setting, developing and smooth running of business in
particular areas. One of my long term goal is to become an entrepreneur, therefore, this study
definitely aid to develop my entrepreneur knowledge and skills such as writing comprehensive
business plan, measurement of risk to explore necessary functional areas. I learned with this

study that to being a great entrepreneur always starts with innovative ideas. This study also helps
me in getting know about the different perception of authors regarding setting up new business
with franchisee or in own business.
2. Usefulness of learning process
Transfer and apply of new knowledge in future
In this current world, there are many types of products and services which are already
available and established and to open a new business, it is an extreme difficult task for individual
to find an innovative idea to conduct their own business. Therefore, this module taught me that
one can produce more and attractive business idea through observation. In this research study,
proper evaluation has been done on aims and objectives and to conduct such research proper
techniques, programs and methods has been used by me. This helps me in improving my
academic career in near future. In this study I have selected research topic to determine risk and
opportunities which are associated with opening new business as your own or in franchisee
where I have analysed significance in both type of business.
This study helps me to capture opportunities by which my future get brighten. I will able
to analyse and interpret method appropriately now by which I will able to write and present more
on such kind of studies in efficient manner which also provides reliable information to other
market researchers. With this research study I will able to provide proper valuable suggestion to
other who wants opinion on opening business in franchisee or setting up their own business
(Visnjic, Neely and Jovanovic, 2018). In future I will put more emphasis on my working where I
will develop more accurate information with the use of quantitative method. This method will
help me in developing accuracy of information upon which anyone can relay.
3. Objective of learning process
Evaluation of process
In order to provide proper evaluation of work firstly, aims and objectives of the research
work has been developed where to reach them appropriate research methodology has been
selected where qualitative techniques has been used by me. I also provide views of different
authors by hearing it on television, mobile etc. I have read articles which are similar to research
study for providing efficiency in information in research study. Primary and secondary data has
been gathered by me to evaluate effectiveness of selected topic in appropriate way. By analysing
survey proper interpretation has been provided by me to decide which business to start in

business market. I have carefully observed my surroundings, environment and businesses by
which I will able to identify problems, gains business ideas and solution and also a new way of
doing business activities.
4. Evaluation of learning
Usefulness of business research in research learning process
Other than learning ways of innovative ideas and solutions, another important aspect
which I have experienced with this module is regarding knowledge and importance for
conducting comprehensive and systematic market research which will later help me to market
products and services effectively. Another aspect which I have gained throughout this experience
is team work and to work with people which are of different background and different culture. I
also learned to listen, respect and appreciate suggestion which I have received with respondents
in my study (Vance, 2019). Another skill which developed in me with this research study is to
prioritize and manage my time well especially when I have to conduct market research with
different methods. This is the module which definitely one which was productive and provided
me a good experience. At a large extent I have improved my research analysis with time
management skill. This study is useful for my learning process because I will able to analyse
perception of different authors and entrepreneur regarding factors which needed to learn by
every person establishing successful business.
This business research study helps me to analyse factors which required to perform every
entrepreneur in order to achieve business profits. I also get know about the rules and strategies
which every type of business followed in order to conduct smooth business operations. Strategies
to compete with other market competitors and ways to prepare financial statements also learned
by me. Through this study my communication skills also get improved where to conduct
effectual research I have to develop my good relationship with existing market entrepreneur.
5. Explanation of learning process
Reason for doing particular research activities
Reason behind conducting research study is gain essential knowledge for conducting
business as an owner. In this study one by one activity has been chosen to provide effective
research study. Firstly, in this research paper, research topic has been selected with appropriate
aims and objectives by which particular objective have been developed in conduct efficient

research study. On the contrary threat which associated with conducting business in franchisee
also identified for developing right business decision.
For gaining new insights, I have conducted primary and secondary analysis where appropriate
techniques like qualitative has been used. This research writing helps me in developing my
personality in accordance with effective researcher where I my understanding in writing and
presenting research work get improved. I will able to get valuable suggestions with proper
validation in research work also it helps me to develop strong feeling for conducting successful
business operations.
Moreover, in this report, I have also provided details on data interpretation and analysis
where with the use of questionnaire and graphs I will able to develop study which is more
presentable and provide accurate information. Interpretation writing helps me in developing
knowledge of observing graphs and charts and to find information with its analysis (Kang and
Jindal, 2018). Conducting market research was the most difficult task for me through this
research study. I have to create questionnaire which is not that simple and straightforward by
which I will able to gain marketing strategies for conducting smooth business operations.
6. Planning of this learning
Explanation of applicability of this learning in future
I have gained so much knowledge for setting new business. I enjoyed while conducting
this research study because setting up and running a business as owner is my dream which I want
to achieve in the future. This module helps me to develop my future profession as a researcher.
I also learnt about great deal of patience and to deal with different people of different
background which help me in increasing my contacts with great people. In near future I will able
to develop more accurate information with other research methods such quantitative and
deductive approach.
CONCLUSION
It is summarised from above report that it is better to open franchisee while opening new
business because it generally requires less cost to set up and there is also an availability of
increasing funding. In this report reflection writing is provided in which own experience has
been shared regarding analysis of market research, perception of different authors and

observation of conducting survey through questionnaire. Further, reason of conducting such
activities also elaborated in this report where it is analysed that each activity provides a pathway
for developing efficient information. I have conduct research study because I found that class
presentation not descriptive and I learned a lot from literature review and techniques which I
used in research methodologies.

REFERENCES
Books and Journals
Kang, B. & Jindal, R. P. (2018). The Dual Role of Communication in Franchise Relationships: A
Franchisee Perspective. Journal of Small Business Management. 56. 197-214.
Pavel, C. D. (2018). FRANCHISING IN THE WORLD OF BUSINESS. Quaestus. (13). 139-
145.
Read, S. & et.al., (2016). Effectual entrepreneurship. Routledge.
Vance, D. (2019). Business Essentials. Cambridge Scholars Publishing.
Visnjic, I., Neely, A. & Jovanovic, M. (2018). The path to outcome delivery: Interplay of service
market strategy and open business models. Technovation. 72. 46-59.