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Franchising Flashcards | StudBud
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Franchising
Franchising
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443 plays
business
Flashcards
18 cards
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Practice quiz
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Questions
18
Answers
1
The franchisor offers ____ to ensure that the new franchise is successful
Marketing support
Initial training
making money
Proven system of Operation
2
What are advantages of franchising
proven system of operation
Initial training
all of these are correct
marketing support
3
Some franchises don't restrict number/ location of franchises plus other companies can create?
owning a franchise
lack of control
competition
start-up and ongoing costs
4
What is a license to sell a company's goods/serivices using their name and model.
A franchise
a corporation
a public corp.
A business
5
Franchisees are given __ generated at the corp & have benefit of any national advertising made
Initial training
Proven system of Operation
making money
Marketing support
6
Most franchises require...
lack of control
start-up and ongoing costs
owning a franchise
competition
7
How many advantages are there to franchising?
234
7
3
5
8
The buyers pay what annually to the owner of the franchise?
a percentage of their house
a percentage of their savings
A percentage of their profits
A percentage of their products
9
Chevrolet, Honda, and Ford dealerships are examples of automobile franchises.
False
True
10
Franchisees can avoid many mistakes new start ups make
Marketing support
Proven system of Operation
making money
Initial training
11
Franchises play an important role in the global economy.
True
False
12
What are disadvantages of franchising
competition
all of these are correct
lack of control
start-up and ongoing costs
13
What is the franchisee buying what?
a way of operating a business
a product with name recognition
both are correct
14
The franchiser is selling its
plays and match expertise
paying and money making expertise
planning and marketing expertise
planning and management expertise
15
The buyer of the franchise
franchise
franchiser
franchisee
franchaser
16
The seller of the franchise is the franchisee.
true
False, franchiser
17
There's not much opportunity for contribution since the franchisor has the main control
owning a franchise
competition
start-up and ongoing costs
lack of control
18
What was one of the first franchises?
McDonalds
Singer Sewing Machines
Chevrolet
Dunkin' Donuts'
