Reno decides to purchase and operate a McDonald's restaurant. A) Type of franchise Traits that entrepreneurs tend to have include all but which one of the following? d. b. B) Positive relationships with their franchisees Education courses, What is the largest source of new business ideas among women? new-new Terry's is a. Characteristics of a small business would include all of the following except. The person who sells the franchise is usually required to do all of the following except: This category of information offers the distinct advantages low cost and quick availability. D) Data regarding existing units a. D) Initial inventory T/F, As of 2008, the Federal Trade Commission's Franchise Rule presribes that franchisors must disclose to prospective franchisees info such as bankruptcies, business experience of the principals, and litigation in which the firm is involved. A significant amount of up-front cash is required to begin operations. High-tech ___ entrepreneurship is exploding. A franchise is a business that markets a product or service developed by a franchisor, typically in the manner specified by the franchisor. Jeremy has written a business plan for the business he would like to open. This includes all of the following except: Suggests the franchisor provides relatively little in the way of management assistance to the franchisees. d. The "Restrictions on What the Franchisee May Sell" section of the UFOC describes ____________. Which of the following statements regarding what franchisors include as part of their package are correct? d. The accountant assigns revenues and expenses to specific years before preparing the financial statements. This is the most common form of franchise channel structure. A) Internet franchises B) Conversion franchises C) Co-branding franchises D) Piggybacking franchises E) Leapfrogging franchises E) Leapfrogging franchises Any cost saving resulting from The primary administrative costs of administering a franchise program typically include those of: hiring and training salespeople to recruit or solicit prospective franchisees, The recruitment package is part of the franchisor's, initial response to a potential franchisee's inquiry for information about the franchise, The written information provided in the franchise package to a prospective franchisee contains, promotions package and operations materials. The franchisor licenses its trademarked products to franchisees. WebThe Franchisor bills and received payment from the customer directly, and then after deducting its royalties and other fees and payments, sends the Franchisee the balance; If Which of the following is true about co-branding? Ellis owns a Subway franchise. E) None of the above is a type of franchising. According to Jim Peterson, it is important to know how customers honestly perceive the quality of the product or service offered by the franchise system. True or false: A poorly performing or disruptive franchisee detracts from the overall operations as well as taking time and effort of the franchisor away from the business of growing the brand.
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