What are the advantages of franchising?
What will be an ideal response?
The single greatest advantage of a franchise is that it comes with a complete business system. Many franchises are actually "turnkey," where the franchiser oversees (or even manages) the selection of location, the construction of facilities, the acquisition and installation of necessary equipment, and the initial inventory with which to open business. Many franchises come complete with computer software for budgeting inventory control, ordering, point-of-sale computerized cash register, and complete accounting application. The question arises as to what the franchisee should do. First, the franchisee must, in one manner or another, pay for all these services. Second, the franchisee will be required to complete training to become intimate with the details of the franchise business system. Third, the franchisee will be required to take an active part in opening and operating the franchise business.
You might also like to view...
The majority of problems in the business world are structured.
Answer the following statement true (T) or false (F)
Machine to machine (M2M) extracts information from data and uses it to predict future trends and identify behavioral patterns.
Answer the following statement true (T) or false (F)
Describe the major advantages and disadvantages of internal recruiting.
What will be an ideal response?
Many foreign governments applauded the investigations under the Foreign Corrupt Practices Act (FCPA) because it helped them:
A. reduce internal political problems for U.S. allies. B. restrict the courts from fining and not imprisoning corrupt parties. C. reduce the risks associated with the derivatives activities of banks. D. crack down on corruption in their own country.