True or false:
1. Some people, uncomfortable with the idea of starting their own business from scratch, would rather join a business with a proven track record through a franchise agreement.
2. A franchise agreement is an arrangement whereby someone with a good idea for a business (the franchisor) sells the rights to use the business name and sell a product or service (the franchise) to others (the franchisees) in a given territory.
3. A franchise can be formed as a sole proprietorship, a partnership, or a corporation.
4. Franchises provide distinct advantages of starting and managing a small business, but there are potential drawbacks as well.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “True or false: 1. Some people, uncomfortable with the idea of starting their own business from scratch, would rather join a business with a ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The prepaid insurance account had a balance of $3,000 at the beginning of the year. The account was debited for $32,500 for premiums on policies purchased during the year.
Answers (1)
Jackson, Inc. produces two different products (Product 5 and Product Z) using two different activities: Machining, which uses machine hours as an activity driver, and Inspection, which uses number of batches as an activity driver.
Answers (1)
Coachlight inc. has a periodic inventory system. the company purchased 200 units of inventory at $9 per unit and 300 units at $10 per unit. what is the weighted average unit cost for these purchases of inventory?
Answers (1)
Performance, polygraph, or drug test are? A. always written in standard English B. illegal and cannot be given C. sometimes used by employers in various fields to test job applicants D. required for job seekers without social security numbers
Answers (1)
You play the following bargaining game. Player A moves first and makes Player B an offer for the division of $1000. (For example, Player A could suggest that she take $600 and Player B take $400 .) Player B can accept or reject the offer.
Answers (1)
New Questions in Business
Why are desk drawers and cupboard doors kept closed unless you are taking something out or putting it away?
Answers (1)
g Real and nominal variables are highly intertwined, and changes in the money supply change real GDP. Most economists would agree that this statement accurately describes a. both the short run and the long run. b. the short run, but not the long run.
Answers (1)
Lee Company has the following information for the pay period of December 15-31: Gross payroll $16,000 Federal income tax withheld $4,000 Social security rate 6% Federal unemployment tax rate 0.8% Medicare rate 1.5% State unemployment tax rate 5.
Answers (1)
At the start of the year, Northern Lights has $8,000 worth of merchandise. What do we know about Northern Lights? A. the company ended with a net income last year. B. It's a retail business. C. It's a service business D.
Answers (1)
A firm is considering purchasing two assets. Asset L will have a useful life of 15 years and cost $4 million; it will have installation costs of $750,000 but no salvage or residual value.
Answers (1)