Tony & Guy is a global hairdressing and education business headquartered in England. It has recently opened salons in Mongolia, adding to its numerous salons worldwide. Tony & Guy allows foreign businesspeople to use its name, logo, methods of operation, advertising, and products. In exchange, Tony & Guy receives a financial commitment and an agreement to conduct business in accordance with its standard of operations. Tony & Guy is engaging in Group of answer choices

Question

Cael Anthony

Business

1 September, 10:58

Tony & Guy is a global hairdressing and education business headquartered in England. It has recently opened salons in Mongolia, adding to its numerous salons worldwide. Tony & Guy allows foreign businesspeople to use its name, logo, methods of operation, advertising, and products. In exchange, Tony & Guy receives a financial commitment and an agreement to conduct business in accordance with its standard of operations. Tony & Guy is engaging in Group of answer choices

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Answers (1)

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Maxim · Answer 1

Franchising

Explanation:

Tony & Guy is engaging in a form of business known as franchising. This is a type of business in which the owner of a product, service, or method, also known as the franchisor (Tony & Guy in this example) achieves distribution and expansion through dealers who are affiliated with them (Franchisees).