Ownership inc. franchises

Which is a franchisor?

• Starts a business
• Takes over a business
• Buys into an existing brand
• Allows others to use their brand name

Which is a franchisee?

• Starts a business
• Takes over a business
• Buys into an existing brand
• Allows others to use their brand name

What is a royalty?

• A business award by the queen
• A type of business
• A payment to a franchisor

Which is true of a private limited company?

• It must be started by one person
• It must sell shares to family and friends
• The owner chooses who to sell shares to
• Anyone can buy a share of the business

An incorporated business has what type of liability?

• Limited
• Unlimited

What is an advantage of a partnership?

• You have full control
• You have more ideas
• You can get finance easily
• You can choose your shareholders

What is an advantage of a sole trader?

• You have full control
• You have more ideas
• You can get finance easily
• You can choose your shareholders

Which ownership has 2-20 people in it?

• Sole Trader
• Partnership
• Public Limited Company
• Private Limited Company

What liability is a franchise (normally)?

• Limited
• Unlimited

Which ownership has full control?

• Sole Trader
• Partnership
• Public Limited Company
• Private Limited Company