Which of the following is a disadvantage of buying an existing business?

All of these are disadvantages of buying an existing business

It can be expensive to purchase an existing business.

The existing business might need costly improvements or repairs.

The existing business may be poorly managed or staffed.

Which is a franchisee?

Buys into an existing brand and proven business

Provides financing to a business

Which is a franchisor?

Allows others to use their brand and business for a fee

Where a business sells the rights to their brand

Franchising

Authored by jacob Brown

Life Skills

9th - 12th Grade

CCSS covered

Used 16+ times

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14 questions

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MULTIPLE CHOICE QUESTION

1 min • 1 pt

This is the legal right granted to an individual (or group) to operate a business as if it were part of a larger chain of stores.

franchise

patent

Tags

CCSS.RI.11-12.5

CCSS.RI.9-10.5

CCSS.RI.8.5

CCSS.RI.6.5

CCSS.RI.7.5

MULTIPLE CHOICE QUESTION

1 min • 1 pt

This is the individual or organization selling the franchise.

franchisor

franchisee

Tags

CCSS.RI.11-12.5

CCSS.RI.9-10.5

CCSS.RI.11-12.3

CCSS.RI.9-10.3

CCSS.RI.8.3

MULTIPLE CHOICE QUESTION

1 min • 1 pt

This is the person or organization purchasing the franchise.

franchisee

franchisor

Tags

CCSS.RI.11-12.5

CCSS.RI.9-10.5

CCSS.RI.11-12.3

CCSS.RI.9-10.3

CCSS.RI.8.5

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What does the franchisor provide for those purchasing the franchise?

advice

training

advertising

all of these are provided

Tags

CCSS.RI.11-12.5

CCSS.RI.9-10.5

CCSS.RI.11-12.3

CCSS.RI.9-10.3

CCSS.RI.8.3

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Buying an existing business is:

about as risky as starting a new business from scratch.

often less risky than starting a new business from scratch.

Tags

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.7.1

CCSS.RL.8.1

CCSS.RL.9-10.2

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which of the following is an advantage of buying an existing business?

An existing business should already have loyal customers.

The business should have established practices and procedures in place.

Relationships with suppliers and other vendors are already established.

All of these are advantages of buying an existing business.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Buying one of these will allow the owner to operate a business using a well-established brand name with proven business practices.

franchise

corporate charter

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Franchising

This is the legal right granted to an individual (or group) to operate a business as if it were part of a larger chain of stores.

This is the individual or organization selling the franchise.

This is the person or organization purchasing the franchise.

What does the franchisor provide for those purchasing the franchise?

Buying an existing business is:

Which of the following is an advantage of buying an existing business?

Buying one of these will allow the owner to operate a business using a well-established brand name with proven business practices.

Which of the following is a disadvantage of buying an existing business?

Benefits of owning a franchise business

What is a royalty?

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