TBR
Niamh Ferguson
Created on March 8, 2023
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Ciaran Corrigan, Daniel Allison, Niamh Ferguson
And its future in franchising.
TBR Global Chauffeuring
Brief
- The best location to initially roll out this model?
- What commercial model should be best utilised?
- What would be the revenue streams for this model?
- What needs to be considered during the implementation stage?
- What risks would be associated with the implementation stage and how would TBR overcome them?
Key Points to Consider:
San Francisco
Los Angeles
Boston
New York
London
Paris
Frankfurt
Dubai
Singapore
Shanghai
Location?
After our discussion, we conducted research into several cities. Considering financial centres, events, travel links and local law.
Launching in Los Angeles
American Market
$800 Franchise Fee.
New emissions zone.
Financial and business hub.
Huge events such as the LA Olympics 2030 and the United World Cup 2026 along with expos.
Travel hub with 88 million passengers travelling to LAX alone (2019).
Boston provides ease of access.
Low VAT (9.5%) and Corporation Tax (8.84%).
LA is a huge market with 50 million visitors a year and 1% using private hire.
Based upon our criteria we felt the United States along with LA was a good fit along with providing tangible benefits.
Why Los Angeles?
- Some of the top competition are Imperial Ride, Blacklane, and Winn Limousine.
- TBR however, have a proven track record and a known name.
- The franchise model will provide a good oppurtunity for expansion and competition.
- There is a significant space for expansion with plenty of options.
Competition
(£20,304)
4%
10%
$25,000
An annual marketing fee would be charged by TBR
Marketing Costs
An annual percentage of revenue would be taken from each franchisee
Percentage of Revenue
An initial lump sum would be paid by the franchisee
Lump Sum
There are three main revenue streams that TBR would look to use/
Revenue Streams
(£33,950)
Revenue
Revenue in Year 1
Based on having 1 franchisee
$41,800
Costs
4.Administrative
Miscellaneous costs.
3. Chauffeur
Items the chaffeur will need.
2.Goods for Car Interior
Items needed for inside the cars.
1. Compliance Costs
Tax and other government considerations.
(£2,030)
Costs
Costs in Year 1
Based on having 1 franchisee
$2,500
(£30,051)
Profit
Revenue in Year 1
Based on having 1 franchisee
$37,000
(£1,218)
Advertising Costs
$1500
Franchises
Franchises
Advertising
Ways to gain the attention of prospective franchisees:
- Roadshows
- Attend franchiee events
- TBR Website
- Franchise marketing agency
Timeline
Potential Issues
4.Channel Ambiguity
Which responsibilities belong to each party?
3.Control
There can be tensions around empowerment vs contol.
2.Quality
There can be difficulty controlling quality and consistency across outlets.
1.Conflicts
Conflicts can arise between franchisees and franchisors over objectives and performance.
Partnering StrategiesThis strategy has the highest potential. This includes aligning goals, consultation, and cooperation.
Empowerment StrategiesControl is in the hands of the franchisee and TBR provides a support system
Control StrategiesStrict measurement and reviews.
To tackle any challenges in the implimentation stage TBR can use control, empowerment, and partnering strategies to help to ensure clear communication.
Franchisee Management Strategies
Overcoming Potential Issues
4.Channel Ambiguity
Which responsibilities belong to each party?
3.Control
There can be tensions around empowerment vs contol.
2.Quality
There can be difficulty controlling quality and consistency across outlets.
1.Conflicts
Conflicts can arise between franchisees and franchisors over objectives and performance.