Entrepreneurship Units 5-8

The following businesses are considered to be franchise opportunities? (Choose one or more)

• Hampton Hotels

• Wingstop

• Kona Ice

• Snap-On Tools

• Planet Fitness

The "W" in SWOT Analysis stands for?

• Where?

• Wait

• Weaknesses

• Why?

Product or service that people desire?

• Genius

• Idea

• Need

• Want

Franchise seller?

• Sole Proprietor

• Franchisor

• Broker

• Franchisee

Something that people must have to survive, such as water,

food, clothing, or shelter?

• Hope

• Basics

• Need

• Want

Someone who is licensed to sell businesses?

• Business Broker

• Franchisor

• Franchise

• Franchisee

What are internal sources of opportunity? (Choose one or more)

• Hobbies

• Talents

• Interests

• Skills

Which is not one of the external sources of opportunity?

• Problems

• Changes

• New Discoveries & Unique Knowledge

• Existing Products & Services

• Money

Entrepreneurs should not look at their own hobbies or interests for opportunities?

• True

• False

Trade associations exist for nearly every industry?

• True

• False