Franchising students net £400 prize for best project
09 May 2016
09 May 2016
A group of undergraduate students studying a module in franchising have been crowned this year’s winners of a prize sponsored by the Bardon Group.
The group of six (Laura Broderick, Bonnie Chow, Matthew Fox, Jessica Grange, Daniel Palmer and Queena Wong) were all studying ENSI311 Franchising. During the course they conducted a project in which they were asked to analyse a franchisor’s business and provide advice in the form of a consultancy report on key areas for achieving growth objectives. These included the organisational structure, operations, recruitment and training, support, financials, territory allocation, franchise agreement, and potential challenges.
In the winning project, selected by course tutor Dr Lola Dada, the students showed an excellent understanding of the strategy for growing a franchise chain and drew upon secondary and primary sources in substantiating their recommendations.
The group received cheques worth a total of £400, presented by Nigel Toplis, Managing Director of The Bardon Group, who revealed that it has been around 20 years since the first Franchising Prize was presented at LUMS. Mr Toplis said: “I think it’s testament to Lancaster University Management School that this is the 20th year since the inception of the Franchising module. I’m very proud of being involved.”
The Managing Director added that in his opinion the course is “without doubt the leading module in franchising in British academia.”
“We need more people to know more about Franchising. We need more people in academia to be aware of the value of Franchising,” he said.
After receiving the award, winning student Jessica said that she had actually forgotten about the competition until she received an email saying she had won. “I did this module because I thought it was really interesting. I thought it was a fun opportunity,” she said.
Teammate Laura said that the prize was “a nice recognition”, while Daniel said: “I think it’s good for your CV. It stands out.”
Matthew said: “For me it was a representation of groupwork done well. Everybody pulled their weight.”