Discuss the advantages of buying a franchise.
What will be an ideal response?
1. Franchises have a high probability of success primarily because franchisors are very selective in granting franchises. Franchisors have already been through the trials and errors that an entrepreneur might face and have "worked out the kinks." Franchises have name recognition easily recognized by potential customers. Franchisors provide detailed operations manuals that guide the franchisee through the business operations. Most franchisors support their franchisees with training, promotional campaigns, reduced costs for product and supplies, and assistance with financing. A franchise makes it possible for an entrepreneur to diversify while minimizing the risk of failure.
You might also like to view...
A sale of treasury stock may result in a decrease in paid-in capital. All decreases should be charged to Paid-In Capital from Sale of Treasury Stock
a. True b. False Indicate whether the statement is true or false
The two parts of a corporation's stockholders' equity section are contributed capital and retained earnings
Indicate whether the statement is true or false
What did Aristotle determine to be the meaning and purpose of life?
a. helping others b. achieving happiness c. learning about the world d. learning to love
In the feature, Personal Reflections: Internal Locus of Control and the American Dream, the author describes how he witnessed over the years
a. young entrepreneurs with good ideas get crushed by corporations with huge budgets b. corporations only promoting to CEO positions family members of rich stock holders c. corporations promoting people from middle class families to CEO roles, and entrepreneurs triumphing over large corporations d. both “a” and “b”