Starting up and managing a business requires one to act responsibly and ethically at all times. It is

Question

also imperative that one carefully considers the management team and the opportunities that
franchising presents to a business to create a bigger brand name and increased market share. In
this task, you will discuss some aspects of franchising and develop a brief code of conduct for your
business. In order to complete this task, you are expected to conduct desktop research.
1. You may consider franchising your business at some point. Identify the type and
model of franchise that your clothing business (Thread lifestyle) could potentially enter into. Justify each
selection.
(4)

Answer 1

Type of Franchise: Single-Unit Franchise
Justification: A single-unit franchise would be a suitable option for Thread lifestyle as it allows for more control and direct involvement in the operations of each franchise location. This would ensure consistency in brand image and customer experience, which is essential in the clothing industry.

Model of Franchise: Conversion Franchise
Justification: A conversion franchise would be a good fit for Thread lifestyle as it allows existing clothing stores to convert to a franchise of our brand. This would enable us to quickly expand our market presence by leveraging existing infrastructure and customer base, while also ensuring a smooth transition for both the franchisor and franchisee.

2. Develop a brief code of conduct for Thread lifestyle that outlines the ethical standards and guidelines that the business and its employees must adhere to. This code of conduct should reflect the values of the brand and ensure a positive reputation in the market.
(6)

Thread lifestyle Code of Conduct:

1. Integrity: We are committed to conducting business with honesty, integrity, and transparency in all our dealings with customers, suppliers, and employees.

2. Respect: We value diversity and treat all individuals with respect and fairness, regardless of their background, beliefs, or differences.

3. Quality: We are dedicated to providing high-quality products and services that meet the expectations of our customers and uphold the reputation of our brand.

4. Compliance: We comply with all laws, regulations, and ethical standards in the countries and communities where we operate.

5. Sustainability: We are committed to reducing our environmental impact and promoting sustainable practices in our business operations.

6. Professionalism: We maintain a professional work environment and uphold a high standard of conduct in our interactions with others, both within and outside the organization.

By adhering to this code of conduct, Thread lifestyle aims to create a positive and ethical work culture that reflects the values and principles of the brand.