A starbucks franchise located inside a target store is called ______ franchising.
Answer
Correct Answer:
Piggyback.
Note: This Question is unanswered, help us to find answer for this one
The biggest disadvantage to the franchisor is which of the following?
Answer
Correct Answer:
Loss of control
Note: This Question is unanswered, help us to find answer for this one
The ongoing payments that franchisees pay to franchisors--which are usually a percentage of gross sales--are known as ______.
Answer
Correct Answer:
Royalty fee
Note: This Question is unanswered, help us to find answer for this one
Identification of risks, fees, benefits, and restrictions of operating a franchise would be included in the ______.
Answer
Correct Answer:
Disclosure statement
Note: This Question is unanswered, help us to find answer for this one
A McDonald’s hamburger that tastes the same at any location in the world is an example of which of the following benefits to the franchisee?
Answer
Correct Answer:
Recognized standards
Note: This Question is unanswered, help us to find answer for this one
A problem with the cost of purchasing a franchise is that the franchisee is usually required to raise most of the capital ______.
Answer
Correct Answer:
Before beginning operations
Note: This Question is unanswered, help us to find answer for this one
Saving money on inventory needs, equipment, and supplies is an advantage for the franchisee that is called ______.
Answer
Correct Answer:
Efficiency
Note: This Question is unanswered, help us to find answer for this one
The major trade association of franchising is the ______.
Answer
Correct Answer:
International Franchise Association
Note: This Question is unanswered, help us to find answer for this one
Most franchise contracts run ______.
Answer
Correct Answer:
From 5 to 15 years
Note: This Question is unanswered, help us to find answer for this one
Which of the following can significantly reduce costs for a franchisee and thus increase profit margins?
Answer
Correct Answer:
Bulk purchasing
Note: This Question is unanswered, help us to find answer for this one
Business-format franchising is commonly used in which of the following?
Answer
Correct Answer:
Fast-food restaurants and lodging establishments
Note: This Question is unanswered, help us to find answer for this one
The legal contract that binds both parties involved in the franchise is known as the ______.
Answer
Correct Answer:
Franchise agreement
Note: This Question is unanswered, help us to find answer for this one
A type of franchise in which the franchisee agrees to purchase the products of the franchisor or use the franchisor’s name is called ______.
Answer
Correct Answer:
Product-distribution franchise
Note: This Question is unanswered, help us to find answer for this one
From the perspective of the ______, the biggest advantage is the expansion of distribution sources with limited equity investments.
Answer
Correct Answer:
Franchisor
Note: This Question is unanswered, help us to find answer for this one
While traveling across country over the summer, Gwen and Audrey stayed in well-known, franchised accommodations rather than opting for independent, unknown motels. This example demonstrates which advantage to franchisees?
Answer
Correct Answer:
Proven product
Note: This Question is unanswered, help us to find answer for this one
The small business person who purchases the franchise in order to sell the product or service is known as the ______.
Answer
Correct Answer:
Franchisee
Note: This Question is unanswered, help us to find answer for this one
Royalty fees are the ongoing payments that franchisees pay to franchisors—usually a percentage of _____.
Answer
Correct Answer:
Gross sales
Note: This Question is unanswered, help us to find answer for this one
Product distribution franchising is a type of franchising in which the franchisee agrees to ?
Answer
Correct Answer:
Both a and b
Note: This Question is unanswered, help us to find answer for this one
Franchisor is the parent company that _____ to franchisees.
Answer
Correct Answer:
All of them
Note: This Question is unanswered, help us to find answer for this one
Franchise fee is the _____ made to become a franchise.
Answer
Correct Answer:
One time payment
Note: This Question is unanswered, help us to find answer for this one
The small businessperson who purchases the franchise so as to sell the _____ of the franchisor.
Answer
Correct Answer:
Both a and b
Note: This Question is unanswered, help us to find answer for this one
Franchise agreement is the legal contract that binds both parties involved in the franchise.
Answer
Correct Answer:
True
Note: This Question is unanswered, help us to find answer for this one
Franchise is an illegitimate license to operate an individually owned business as part of a larger chain.
Answer
Correct Answer:
False
Note: This Question is unanswered, help us to find answer for this one
Due Diligence is the process of thoroughly investigating the accuracy of information after signing a franchise (or any other) agreement.
Answer
Correct Answer:
False
Note: This Question is unanswered, help us to find answer for this one
Information that franchisors are required to provide to potential franchisees is known as?
Answer
Correct Answer:
Disclosure Statements
Note: This Question is unanswered, help us to find answer for this one
Business-format Franchising is a type of franchising in which the franchisee adopts the franchisor’s _____ of operation.
Answer
Correct Answer:
Entire method
Note: This Question is unanswered, help us to find answer for this one
