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Every new franchise is rooted in a number of complex business decisions and ideas. This paper reviews the major peculiarities of the UPS store franchise as well as verifies its underlying principles against the existing economic issues. This brand presents much interest in current business reviews since it exemplifies a successful startup and helps to perceive the foundation of the modern economy.
The UPS Store is a global corporation that provides various postal services. Specifically, the franchise specializes in printing, mailbox services as well as packaging and shipping. It was initially launched as an effective alternative to the American mail service and gained much popularity throughout the USA ( The UPS Store par. 1).
The postal store possesses a huge financial potential, for the number of its units increases every year. Moreover, the UPS store is a successful provider of financing support programs. Thus, it offers a number of franchise loans to the new owners, which helps the beginners to feel secure in their future undertakings ( The UPS Store: Franchise Cost & Fees par. 3). The financing serves as a prerequisite of successful franchising. According to Keup, franchising is a method of market expansion utilized by a successful business entity wanting to expand its distribution of services or products through retail entities owned by independent operators using the trademarks or service marks, marketing techniques, and controls of the expanding business entity in return for the payment of fees and royalties from the retail outlet (5). Thus, one can deduce that efficient franchising is a guarantee of the corporations prosperity.
The economy targets three questions that constitute its concept. These questions are aimed at the investigation of production sources, processes, and customer types. Therefore, they are usually regarded as what, how, and for whom questions. The first issue refers to goods and services. The answer to the second question depends upon such factors as land and labor productivity as well as opportunity costs. Finally, a client implication determines the way in which a product or a service complies with a communitys demands ( The Three Fundamental Questions Every Economy Has to Answer. What, How, and For Whom par. 1).
Applying the fundamental questions to the UPS franchise study, it may be outlined that the company offers mailing services by providing the customers with high-quality postal operations. Thus, the evaluation of the UPSs work shows that the franchises land and labor productivity rank extremely high, due to the corporations constant extensions. The store targets various business establishments that are interested in mail services as well as the individuals who use it.
The three basic factors of production predetermine the outcomes of a franchises work. According to Ekelund and Hebert, the three factors are land, labor, and capital (703). The first factor embraces the actual resources that are used for a specific production. Since the UPS store specializes in services, it uses human resources. Due to the stores motto, leadership helps the management to support the high standards of the services ( The UPS Store, Inc. Leadership Team par. 1). Thus, the motivated and hard-working employees may be regarded as both efficient land and labor factors that determine the stores success. The third factor refers to the financial and technological progress of the UPS. Due to the stores productivity rankings, it may be concluded that the corporation advances in both budget and innovation extension.
Due to the rational management politics of the corporation, it demonstrates a progressive grow. Consequently, the UPS store serves as a model of a prosperous business startup.
Works Cited
Ekelund, Robert, and Robert Hebert. A History of Economic Theory and Method, Long Grove, Illinois: Waveland Press, 2013. Press. Web.
Keup, Peter. Franchise Bible 7/E: How to Buy a Franchise or Franchise Your Own Business, Irvine, California: Entrepreneur Press, 2012. Press. Web.
The Three Fundamental Questions Every Economy Has to Answer. What, How, and for Whom. 2015. Web.
The UPS Store 2015. Web.
The UPS Store: Franchise Cost & Fees. 2014. Web.
The UPS Store, Inc. Leadership Team. 2015. Web.
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