E. The details of franchise management are vague enabling franchisees to adapt to changing environmental conditions. pay a fee. This means that it is a riskier purchase than the purchase of a franchise. d. B) Business-format franchising An agreement not to compete is also known as a deferential sale of business clause. C) Years of experience The 2014 Annual Report for Murphy Oil Corporation (see www.murphyoilcorp.com) shows the following numbers of barrels of crude oil produced per day in the United States annually from 2008 through 2014: Develop a bar chart that illustrates these data. b. False T or F? maintain a specified quality of performance. She is concerned she may not be given a loan and researches the subject, discovering that in 2013, the SBA data showed that women-owned businesses are. Only franchisees operating multi-unit franchisees can own more than a single franchise.. The most important section of the business plan is: In urban areas, approximately how much of a store's business is done by people who live or work within a five-minute drive or walk of the location? WebThe way to approach a new business venture is to think up a good or service that is unique. A. One wants to make sure they are not buying into a fad but a viable long-term business. d. d. All of the following are a new type of franchising opportunity except ________. B) Friends B) In convenience stores How many personnel are going to remain? The business that represents 99.7 percent of all employers in the United States is a. To be a successful leader, Jim Peterson, franchisor and former President of the IFA, believes it is necessary for four factors to exist for a person to be a successful leader. WebThe Federal Trade Commission monitors all of the following activities except the sale of unhealthful foods The Franchise Disclosure Document helps the franchise buyer to make d. Three major reasons that explain why franchisors distribute via franchise channels are: (1) capital advantages, (2) potential to reduce distribution costs, and (3) possible high level of managerial motivation fostered by franchising. d. Franchising offers all the following benefits for franchisers except. loss of freedom and control as franchise system grows. C) Purchasing power 23 C) Fixtures How much of successful selling consists in simply listening to the prospective buyer? Ch.16 Flashcards | Quizlet A. This is an example o. Craig has $60,000 to invest in a new small business. a. franchisee. Franchises include the business name and a general plan for business operations. B) Advertising and promotion C. Lodging. quality of the competition. c. A) Training process for expanding a business or service through licensing arrangement. The franchisor's responsibilities include providing According to the text, the most important reason why franchisors adopt franchise channels is: E) Local publicity campaigns. A) Required Chapter 4 Franchises and Buyouts Assessment Flashcards a. b. Operational Control. A) Recognition none of the above. WebStudy with Quizlet and memorize flashcards containing terms like All of the following are a new type of franchising opportunity except, Any costing saving resulting from franchises b. What are the typical payments paid by a franchisee to a franchisor? A) Type of franchise he can ensure that the new stores are operated according to his own standards through the franchise agreement. NOT: to generate data which can be used to accumulate working knowledge use of private labels to brand or trademark product or service. Sarah has opened her own cosmetology business in a small shopping center with a lot of foot traffic. One of the main reasons she may have made the move was. it can be either franchisor- or franchisee-driven. franchise A ____ is a system of distribution that enables a supplier to arrange for a dealer to handle a specific product or service under certain mutually agreed upon condtions. The franchisee is bound by the terms the franchise contract. All of the above. a. Which one of the following is not one of the required factors for successful leadership? B) Franchisee Disclosure Document Sales records are of very little value to a buyer in evaluating a company's worth. Who is correct? Freddie's Fenders is seeking a loan from the SBA. Bus-x100 Exam #2 Flashcards | Quizlet B. Intro to Business- Chapter 5 Flashcards | Quizlet Selling supplies to the franchisee amount to the government independent of his or her The most common form of business ownership in the United States is the corporatio. B. success will cause another outlet to be opened nearby. b. Which descriptive statement is NOT one of the legal ways of protecting a trademark? & H_{\mathrm{a}}: \sigma_1^2>\sigma_2^2 C. In a franchise, parties are independent. franchisor supplies brand names, techniques, or other services instead of a complete product. What is the largest guaranteed loan she could be granted? Which one of the following statements is true? Consideration occurs when one party in a contract offers or agrees to do something and the other party accepts. There is an established set of process. Service providers that wish to maintain a high degree of control over channel members are likely to use the franchise channel model. A sample of 16 items from population 1 has a sample variance s12=5.8s_1^2=5.8s12=5.8 and a sample of 21 items from population 2 has a sample variance s22=2.4s_2^2=2.4s22=2.4. opportunitites. Which characteristic is not considered a positive of franchising? Studies have shown that the incidence of innovation among small-business workers is ___ among workers in larger businesses. The initial franchisee vetting usually includes _________. a. b. b. Capital requirements that a potential franchisee must consider prior to becoming part of a franchise system include each of the following except for: Reasons a franchise system would have corporate locations, as well as franchisee locations are shown below, except for: franchisor avoids potential conflict with franchisees that may rise based upon market and site locations. The Franchise Disclosure Document helps the franchise buyer to make a knowledgeable purchase. b. A franchisor pays a fee to obtain a franchise. The franchisor cannot require the individual franchisee to adhere to a(n) ________. a. In the United States, ___ account(s) for 97.5 percent of all identified exporters and produce(s) 31 percent of export value. If you are looking to start a business that is creative and is not controlled by others, then franchising is your best option. a. C) Any suppliers d. The individual who buys the franchise is the health care Find all vertical and horizontal asymptotes of the graph of the given function. The Uniform Franchise Offering Circular _______. C. Multi-unit franchises require the franchisor to provide greater operational assistance to their franchisees than do they do for single-unit franchises. A partnership agreement identifies the type and value of the investment contributed by each partner. new-new, old-old The Federal Trade Commission monitors all of the following activities except. D) Both A and B A(n) _______ _______ is a basic contract generated by a franchisor for all franchisees. payment of a fee. The "_______" section of the UFOC contains how disagreements will be resolved. C) Territory Independence and a desire to determine one's own destiny are some of the entrepreneurs' personal factors in small-business success, others include: Jennifer would like to open her own business. c. to generate data which can be used to accumulate working knowledge. What are they? There are six major organizational development tasks required of a franchisor to develop from a single unit firm into a growing franchise system. Most franchisors have a ________ page where potential franchisee can contact them for more information. Fran's Fancy Frocks, a retail clothing store, may not exceed ___ in annual sales to qualify as a small business. Depreciation. 9 The business arrangement, otherwise called a franchise opportunity, has three major components that constitute the essence of what is generally referred to as a franchise. a. His actions are possible because small businesses. All are costs. saleable value. Hobby C. The franchisor provides little beyond a license to use its trademarked products. insurance B. Which of the following are benefits of purchasing a franchise? There are approximately ___ businesses in the United States. This resulted in the passage of the Uniform Franchise Offering Circular (UFOC). T/F, There is no need to find out more information about a prospective franchise as the franchisor should be the primary source of information T/F, A franchising strategy whereby a single franchise owns more than one unit in a given area is typically referred to as an area developer strategy T/F, The potential value of any franchise arrangement is defined by the rights outlined in the franchise contract.
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