Foundations of Business (Standalone Book) (MindTap Course List)
5th Edition
ISBN: 9781305511064
Author: William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher: Cengage Learning
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Question
Chapter 5.7D, Problem 1CC
Summary Introduction
To determine: What the franchisor and franchisee receive in the franchising agreement.
Introduction: A franchise agreement is the deciding component in the establishment affiliation, as there is no particular enactment or direction for franchising.
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Chapter 5 Solutions
Foundations of Business (Standalone Book) (MindTap Course List)
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- Why might being a Sole Trader be the best business enterprise when starting a business?arrow_forwardThe purchaser of a franchise is called the franchisor. True or Falsearrow_forwardBeing a franchisee is an opportunity for those who lack business experience, the chance to own and operate a profitable business. What is your understanding of this statement?arrow_forward
- Starting up and managing a business requires one to act responsibly and ethically at all times. It is 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 You may consider franchising your business at some point. Discuss with justification, the type and model of franchise that your business will enter into.arrow_forwardWhat are the advantages of franchisor?arrow_forwardHow the success of a franchisee can cause problems?arrow_forward
- What makes franchising different from other forms of business? Be specific. Identify and describe at least four of the key terms in franchising.arrow_forwardWhat strategies can a franchisor use to maintain consistency and quality across multiple franchise locations?arrow_forwardState one major benefit of franchising for the franchisee.arrow_forward
- Differentiate between partnership and sole proprietorship form of business. Explain briefly, in your opinion which form of business is better?arrow_forwardBeing a franchisees seems to be a mechanism for growth, but what are the growth prospects for entrepreneurs who are franchisees? Isn't the entrepreneur limited to his/her ability to pursue different types of growth strategies? Is being a franchisee simply substituting one type of employment for another type of employment? How can a franchisee grow his/her business?arrow_forwardImagine considering starting your own business or owning a franchise. What kinds of products or services will you offer?arrow_forward
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