This is the individual or organization selling the franchise.

Which is a franchisor?

A franchisor offers lots of training to the new franchisee

A franchisee can operate a business anywhere they want and are not restricted by territory

Which of these is NOT an advantage of the franchisee

A type of arrangement where the franchisor grants a franchise the rights to open ad operate one franchise unit.

A type of arrangement where the franchisor grants a franchise the rights to open and operate more than one franchise unit.

It is a legal document between the franchisor and the franchisee that governs the relationship between the two entities for a specified period of time.

In evaluating and selecting a franchise business, there are 8 critical areas to be studied carefully except:

It is a systematic process for improving organizational performances by developing the competency of a team or an individual.

It is describe as a sure-fire way to improve the productivity of any franchise's employees.

A type of arrangement where the franchisor grants a franchise the rights to open more than one unit during a specific time within a specific area

A type of arrangement where the franchisor grants a franchise the rights sell franchises to other people within a territory.

They develop and implement effective advertising and marketing services fro the development of franchise network

They work through networks such as regional advertising cooperatives to which they are required to contibute

This type of franchise includes not only aa product, service and trademark but also the complete method to conduct the business.

A license that describes the relationship between franchisor and franchisee including use of trademarks, fees, support and control.

A method of business expansion characterized by trademark license, payment of fees, and significant assistance and/or control.

Franchising is a type of business model.

A business model describes which of the following?

Check all that apply

Business assistance is one benefits of being a franchisee.

Some autonomy is lost when opening a franchise.

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.

The largest global franchise is

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

Almost all franchises charge an initial investment known as a

The corporation that owns the intellectual property of the business 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 all that apply

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

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 offer the same franchising agreement.

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.

Trademarks protect intellectual resources for a business.

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.

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.

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

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.

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

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.

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

Lower risk

offers assistance in organizing, training, merchandising, marketing and managing in return for a monetary consideration

It reduces risks for both parties

The following statement best describe about franchise is ____________.

Royalty is ____________

The controls on franchisees by the franchisor is ____________.

A type of franchise in which the product, method of distribution, sales and management procedures are highly controlled.

The purpose of the franchise agreement is to give prospective franchisees with information about the franchisor, the franchise system and the agreements they will need to sign so that they can make an informed decision.

ADVANTAGES OF STARTING A NEW BUSINESS (CHOOSE 3)

The franchise agreement is more specific than the UFOC about the terms of the relationship between the

franchisee and franchisor.

Before buying any business, carefully consider many factors that are critical to success: costs, training and

support, abilities, franchisor’s experience, demand and competition, expansion plans.