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Evidence Guide: BSBFRA402 - Establish a franchise

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

BSBFRA402 - Establish a franchise

What evidence can you provide to prove your understanding of each of the following citeria?

Identify opportunities for establishing franchise

  1. Research and identify franchising opportunities
  2. Determine own interests and skills to assess suitability for identified opportunities
  3. Determine requirements for establishing a specific franchise
  4. Research and check viability and business record of franchisor in prospective franchise
  5. Enter into negotiations with a franchisor to establish a franchise
Research and identify franchising opportunities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine own interests and skills to assess suitability for identified opportunities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine requirements for establishing a specific franchise

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Research and check viability and business record of franchisor in prospective franchise

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Enter into negotiations with a franchisor to establish a franchise

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete business plan

  1. Access business plan proforma, as appropriate
  2. Consult franchisor and others in process of developing business planning documents
  3. Research and determine financing options
  4. Finalise financial planning for franchise
  5. Undertake market analysis for franchise opportunity and complete marketing plan
  6. Research and determine needs for premises in appropriate area
  7. Compile relevant information into business plan
Access business plan proforma, as appropriate

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consult franchisor and others in process of developing business planning documents

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Research and determine financing options

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Finalise financial planning for franchise

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Undertake market analysis for franchise opportunity and complete marketing plan

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Research and determine needs for premises in appropriate area

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Compile relevant information into business plan

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and address learning needs

  1. Determine required skills and knowledge to manage a franchise, and identify gaps for self and others
  2. Seek assistance to assess and address learning needs and document these in the form of a learning plan
  3. Determine training required by franchisor of a franchisee
  4. Undertake learning plan and required training programs
Determine required skills and knowledge to manage a franchise, and identify gaps for self and others

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Seek assistance to assess and address learning needs and document these in the form of a learning plan

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine training required by franchisor of a franchisee

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Undertake learning plan and required training programs

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Finalise agreements

  1. Complete finance agreements
  2. Access legal advice as required
  3. Finalise and sign off franchising agreement
  4. Obtain required permits for franchise operation
  5. Finalise contracts and agreements with third parties
Complete finance agreements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Access legal advice as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Finalise and sign off franchising agreement

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Obtain required permits for franchise operation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Finalise contracts and agreements with third parties

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Prepare for opening of franchise

  1. Obtain physical and human resources required to manage franchise
  2. Undertake marketing activities associated with opening the franchise
  3. Open the franchise for business
Obtain physical and human resources required to manage franchise

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Undertake marketing activities associated with opening the franchise

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Open the franchise for business

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1 Identify opportunities for establishing franchise

1.1 Research and identify franchising opportunities

1.2 Determine own interests and skills to assess suitability for identified opportunities

1.3 Determine requirements for establishing a specific franchise

1.4 Research and check viability and business record of franchisor in prospective franchise

1.5 Enter into negotiations with a franchisor to establish a franchise

2 Complete business plan

2.1 Access business plan proforma, as appropriate

2.2 Consult franchisor and others in process of developing business planning documents

2.3 Research and determine financing options

2.4 Finalise financial planning for franchise

2.5 Undertake market analysis for franchise opportunity and complete marketing plan

2.6 Research and determine needs for premises in appropriate area

2.7 Compile relevant information into business plan

3 Identify and address learning needs

3.1 Determine required skills and knowledge to manage a franchise, and identify gaps for self and others

3.2 Seek assistance to assess and address learning needs and document these in the form of a learning plan

3.3 Determine training required by franchisor of a franchisee

3.4 Undertake learning plan and required training programs

4 Finalise agreements

4.1 Complete finance agreements

4.2 Access legal advice as required

4.3 Finalise and sign off franchising agreement

4.4 Obtain required permits for franchise operation

4.5 Finalise contracts and agreements with third parties

5 Prepare for opening of franchise

5.1 Obtain physical and human resources required to manage franchise

5.2 Undertake marketing activities associated with opening the franchise

5.3 Open the franchise for business

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1 Identify opportunities for establishing franchise

1.1 Research and identify franchising opportunities

1.2 Determine own interests and skills to assess suitability for identified opportunities

1.3 Determine requirements for establishing a specific franchise

1.4 Research and check viability and business record of franchisor in prospective franchise

1.5 Enter into negotiations with a franchisor to establish a franchise

2 Complete business plan

2.1 Access business plan proforma, as appropriate

2.2 Consult franchisor and others in process of developing business planning documents

2.3 Research and determine financing options

2.4 Finalise financial planning for franchise

2.5 Undertake market analysis for franchise opportunity and complete marketing plan

2.6 Research and determine needs for premises in appropriate area

2.7 Compile relevant information into business plan

3 Identify and address learning needs

3.1 Determine required skills and knowledge to manage a franchise, and identify gaps for self and others

3.2 Seek assistance to assess and address learning needs and document these in the form of a learning plan

3.3 Determine training required by franchisor of a franchisee

3.4 Undertake learning plan and required training programs

4 Finalise agreements

4.1 Complete finance agreements

4.2 Access legal advice as required

4.3 Finalise and sign off franchising agreement

4.4 Obtain required permits for franchise operation

4.5 Finalise contracts and agreements with third parties

5 Prepare for opening of franchise

5.1 Obtain physical and human resources required to manage franchise

5.2 Undertake marketing activities associated with opening the franchise

5.3 Open the franchise for business