A good business model is best described by which of the following?

Check the three that apply.

Business assistance or guidance from the franchisor is one benefits of being a franchisee.

Some autonomy is lost when opening a franchise.

Autonomy is best defined in business as

Franchises are statistically more successful than startups.

One of the benefits of franchises is the fact you are utilizing a new business model and approach.

All of the following are important steps to owning a franchise.

Check the four that apply.

A market is most related to which of the following when considering a franchise. Choose all that apply.

The largest global franchise is

Which of the following companies utilize a business franchise model?

In most cases, before starting a franchise, it is important to secure credit through a loan.

The money paid back to a bank includes the loan amount or the principal, as well as the cost of borrowing money, known as

Almost all franchises charge an initial investment known as a

The corporation that owns the intellectual property and operational expertise of a franchise is known as the

One of the key advantages of owning a franchise is brand recognition.

The franchisee receives which of the following benefits from the business franchise model? Check the four that apply.

Which of the following are disadvantages for the franchisee when utilizing the business franchise model?

What disadvantages might the franchisor face with this model? Check all that apply.

As the franchisor, what advantages are inherent to a business franchise model?

The investor that opens a new franchise location is known as the

Business assistance is best described as

One benefit for franchisors is the mitigation or lessening of risk because they are not required to make all of the investment into opening a new franchise.

All franchises require a franchising agreement that often includes set fees among other obligations.

The contractual arrangement between a franchisor and franchisee that spells out the duties and responsibilities of both parties is called

The royalty fee is often a figure based on a percentage of gross sales.

A licensing agreement allows for the usage of which of the following?

A copyright is a type of intellectual property protection.

Copyrights protect which of the following creative instruments?

Trademarks protect intellectual resources for a business.

The following are intellectual property protections.

Check all that apply.

Trademarks protections prevent the unauthorized usage of the following.

What a prospective franchisee owes to the franchisor for the rights to use the franchise brand and franchise system.

All the combined impressions and experiences associated with a particular company, good, or service This includes the name, term, symbol, design, or combination thereof that helps identify and differentiate a seller's product.

The selling the right to use some process, trademark, patent, or other right for a fee or royalty.

A symbol, word, or words legally registered or established by use as representing a company or product.

Which of the following BEST describes gross sales?

A wealthy private investor who provides capital for a business start-up. Choose the BEST answer.

A venture capitalist focuses exclusively on startups.

The most important decision outside of choosing the franchise brand is determining the location or market where the franchise will be placed.

Because royalty fees are often based on the percentage of sales, they are not the same from month to month.

If an entrepreneur needs additional capital or credit, they would most likely approach which of the following? Check all that apply.

Capital most simply means the funds available to pay for the day to day activities of the business as well as money for investing in future growth.

Capital can be used for which of the following?

Check all that apply.

Licensing allows the use of some process, trademark, patent, or other right for a fee or royalty.

All chains are franchises.

E-commerce companies primarily utilize brick and mortar stores.

E-commerce is synonymous with online sales.

Some corporations have both a brick and mortar and e-commerce presence.

To mitigate means

Autonomy is an advantage of utilizing the business franchise model.

For franchisor's it is important to secure credit or financing from banks, partners, or other financial institutions.

Brick and Mortar stores have the advantage of a physical presence for their brand.

Which industries might we see a business franchising model? Choose all that apply.

Loans provide credit to increase the amount of capital to pay for business activities, expansion, or other important activities.

Credit is a form of financial resource.

A licensing agreement allow a third party to utilize the creator or parent company's intellectual property.

The business franchise model mitigates risk for both the franchisee and franchisor.

Angel investors invest in businesses at the earliest stages of development.