A group of students at Lancaster University’s Management School has won an award for the Best Franchise Report, as part of the franchising module of the school’s business studies course. As a reward for their hard work the five students were presented with a cheque for £400 plus a special commemorative plaque, donated by award sponsor Nigel Toplis, managing director of Recognition Express.
Sophie Hodgson, Callum Baxter, Zachery Garton, Luke Owen-Jones and Nishant Mulekar, who graduate this year, received top marks when tasked with putting together a report on expanding a business via franchising.
The franchising course is available to all second, third year and final year students in the management school. Its main aims are for students to develop a familiarity with current theory and research in franchising, as well as form a critical understanding of the management issues involved in the foundation and development of a franchise network. The course explores the ingredients required for a successful franchise system, the problems and challenges which arise in the management of franchise networks, and the nature of the franchisee/franchisor relationship.
Said Dr Joanne Larty, course convenor for the franchise module and programme director for BSc Business Studies: “The course is intended to provide students with an opportunity to understand franchising from both the franchisor and franchisee perspectives. We are very grateful for the continuing support from Recognition Express. It’s so important for the students to see that what they are doing is totally relevant and applicable to real-life business situations.”
As part of the course students write an essay on aspects of franchising, including details of the franchisee-franchisor relationship, and develop a consultancy report for a franchisor.
Nigel Toplis also gave a talk to the students. He said afterwards: “We are pleased to support this course and have done for many years. I was really impressed with the students’ reports, which demonstrated that they have an excellent grasp of the franchising business model. I hope they have benefitted from this experience and enhanced their understanding of the important role franchising has to play in the business world.”