Applied Concept Ent

SPRING 2014 – ENTREPRENEURSHIP

ENT 4024

STUDENT SAMPLE: APPLIED CONCEPT PAPER

Executive Summary

The concepts from chapter six in the text Essential of Entrepreneurship and Small

Business Management relates to the article “Red Mango; Red Mango Announces Record

Franchise Expansion.” This company Red Mango is one of the fastest growing retailers of nonfat frozen yogurt and has announced record franchise development during the first quarter of 2009. Both the article and the text discuss the benefits of franchising as well as multiple-unit franchising. Also, they both discuss the product distribution franchising and intercept marketing. The corporation was founded in South Korea in 2002 and Red Mango opened its first store in the United States in July 2007. The way the article differs from the book is that this company did not start in the United States. There can be many challenging when entering into the United States due to the differences in tradition. However, Red Mango has come up with a product that is healthy beneficial to everyone.

I have never researched a franchise before, so it was really interesting to learn firsthand what is involved. There are many rewards to owning a franchise especially to have the brand appeal is essential. I find it so interesting how Red Mango came from South Korea to the United States and succeeded tremendously even with the cultural differences.

Abstract

“Red Mango; Red Mango Announces Record Franchise Expansion” Real Estate Business Journal May 2, 2009

“Red Mango; Red Mango Announces Record Franchise Expansion” basis their success on the exposure of their brand helped them double their network in 2009 and to expand into other states. Also, the product is unique in that the ingredients for the frozen yogurt is all natural, nonfat, gluten free, packed with beneficial live and active probiotic cultures. The franchise agreements included California, Illinois, Texas,...