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The purchaser of a franchise is called the franchisor. True or False
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- Describe at least one advantage and one disadvantage of franchising for the franchisor, and at least one advantage and disadvantage of franchising for the franchisee.In a franchising agreement, what is the franchisee often called on to do?Which form of business is generally most costly to set up but offers the most personal protection? a) Sole proprietorship b) Partnership c) Corporation d) Franchise
- Explain what is the total cost of ownership concept ?Which form of business ownership is LEAST used in the United States ?You are interested in starting your own business, you have been advised to register the business as limited company. Describe the processes and requirements involved in the establishment of such a business. Include the advantages of registering the company as a limited company
- What does a limited partnership need to do if it wants to continue operations after a general partner withdraws?Franchising is a license to sell anothers products or to use anothers name in business, or both. Typical examples of popular franchises include Dunkin, Super Cuts, 5 Guys, H&R Block Tax Service, Car Dealerships, even the Boston Red Sox are a franchise of Major League Baseball. Describe what you think is a better business approach, starting a business from scratch, or buying a franchise. Discuss the pros and cons of each approach.Pick a business that you know of (can be a small business in your neighborhood or a large corporation that makes a product you bought in the past), do a little research about it, and answer the following: Describe the goods or services the business sells and where it does business. What kind of model is this company using? (remember, a company could use more than one model; use the models described in the introduction above). What type of business is this (sole proprietorship, partnership, or corporation)? How did you find out? Describe how you researched information about this company.
- Explain difficulties that a business may face when there is no business planWhat responsibilities does the franchisor assume in a franchising agreement?ranchising is an arrangement in which a supplier grants a dealer the right to sell products in exchange for a percentage of total sales, equipment, buildings, management, and marketing assistance. If you were opening a retail business, would you prefer to open an independent store or a store under a franchise agreement? Why?