Case Study: Starfish Jewellery
Case study - Starfish Jewellery
1) What alternatives might be available to Mariam to expand her business?
Mariam business seems to be a promising business and she needs to put in place some of the strategic marketing approach to achieve these. Franchising leads the way as the best possibility. Franchising the sales process will help Mariam to expand her business internationally while still in a position of meeting the customer demands. She should ensure that the business is having sufficient potential sales and versed franchise arrangement.
Mariam can recruit sales people to support in sales. She needs to adopt straightforward distribution as well as use of retailers to help reach the target audiences. This would be one of the best channel of distributing her products to
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Mariam’s big challenge is capital for business expansion and with franchising; the issue of capital to expand your business is eliminated. Franchisee fees will cover the expenses and Meriam will have no need of borrowing from the banks to fund the expansion process.
Franchising also helps in accelerating the expansion process. Franchisor is free to expand to new geographical locations without considering the employees and money. The franchisor will not pay the manager and employees as the franchisee has already included them in his or her payroll.
With franchising, the franchisor will have talented and motivated people to manage the business in different locations. This will provide the recommended expertise in running the business. This will therefore provides numerous advantages being offered by the economies of scale. Economies of scale will work to the advantage of the franchisor.
Therefore, franchising enables small businesses to compete with big businesses. This is due to the support from the franchisor as well as the network of other experienced franchisees.
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