Describe various ways to start a business

Describe various ways to start a business

University

15 Qs

quiz-placeholder

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10th Grade - University

15 Qs

Describe various ways to start a business

Describe various ways to start a business

Assessment

Quiz

Business

University

Medium

Created by

NURUL (PBU)

Used 1+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a characteristic of buying an existing business?

Requires building brand awareness from scratch

Comes with an existing customer base

Reduces startup risks compared to a new business

May require operational restructuring

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a key advantage of starting a new business?

Immediate brand recognition

Full creative control over products and services

Lower financial risk compared to a franchise

Established customer base

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a primary disadvantage of buying an existing business?

Requires creating a business plan from scratch

High level of uncertainty and risk

May involve hidden liabilities or debts

Lack of customer base

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A franchisee typically pays the franchisor

One-time licensing fees only

Monthly royalties and other fees

No fees at all

A fixed annual salary

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a major benefit of running a franchise?

Complete independence in business operations

Lower financial investment than starting a new business

Established brand and operational support

No need to follow business rules or guidelines

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a key challenge when establishing a new business?

Finding an existing customer base

Dealing with franchise restrictions

Following an existing business model

Access to franchisor support

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A franchise is best suited for individuals who:

Prefer to build a unique brand from scratch

Do not want to follow rules or guidelines

Want operational support and a proven business model

Want full control over pricing and product decisions

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