a franchisor can control all of the following except

The two main reasons for failure in business are: NOT: inadequate business plan and poor management. When will the activities be started and completed? All of the above. Sales tax. Which of the follow statements about starting a franchise are similar to starting a business from scratch? CHAPTER 2 Flashcards | Quizlet Actions by franchisors to void the contracts of franchisees in order to sell the franchise to someone else and collect an additional fee. Bringing two or more franchise brands together within a single enterprise. The exercise of reasonable care in the evaluation of a business opportunity. A) Product and trade-name franchising E. The desired degree of control of franchisees by franchisors is not relevant to the decision by franchisors to use the franchise channel model. C) Purchasing power Good cause B. Many fees are must be paid regardless of ________. disagreements between the two parties have increased and contract disputes are causing many lawsuits. d. franchisee. determines the salaries of the corporation's officers. a. a. d. prepaid expenses D) Both A and B franchise fees Name the three steps used to allocate producing department activity cost pools using the ABC approach. In product distribution franchises: d. E) All of the above, Which of the following aspects would the franchisor control in a business-format franchising situation? c. The franchise's time frame. Which of the following are resources that an entrepreneur can typically use to find a business for sale? The local Small Business Administration Office One downside for franchisors participating in franchise channels is: A) The franchisor b. new-new, new-old Franchises are governed by ________ laws and regulations. E) Employees, A franchisor's record of success can ________. Part of the motivation for a franchisor to develop a franchise system is to ensure consistency throughout the business units in the system. C. The greatest benefit to franchisors is the marketing assistance they receive from franchisees. Ability to achieve a good golf score while making sales to prospective franchisees. When purchasing an existing business, the prospective owner should conduct an assessment of the current group of employees. the franchisor offering a standard,well-known product or service. provide professional management training to the unit's staff. legal and professional fees must be provided to the potential franchisee early in the process. d. d. a. Dwight has a small business and would like to sell his products overseas. E. Number of manufacturers in the industry. C. Companies like Proctor & Gamble frequently use the franchise channel model for distribution of consumer goods. small businesses create cyclical unemployment, Small firms usually sell parts and assemblies to large firms because the large firms have found that, it is less expensive than making their own. a. d. c. What's the difference between the sales package and sales playbook? Which of the following statements most accurately describes the success rate of franchises? In franchising, the _____ is the firm that originates the idea for a business and develops the operational methods. This is a ___ business. E. None of the above. The franchisor cannot require the individual franchisee to adhere to a(n) ________. The ability to leave the venture if an entrepreneur does not enjoy the business is severely limited. a. B. d. Jimmy John's, Which is not a cost of franchising? Richard orders some Harley-Davidson Trikes for his inventory. he/she is very straightforward about his/her interest, availability, and financial resources. b. Brent and Wendy plan to open a new business. Add appropriate labels. d. a. Business services. C. Training. Sales records are of very little value to a buyer in evaluating a company's worth. b. Chapter 4 Franchises and Buyouts Assessment Flashcards H0:1222Ha:12>22. 9 D. Franchisors spend billions of dollars annually to keep franchisees trained. This is the most common form of franchise channel structure. Master franchises do not allow individuals and organizations to buy the right to subfranchise within a delineated geographic territory. Chance Attorneys and CPA firms track record of the other franchisees as proof of success the franchisor all of the above. The difference between single-unit and multi-unit franchises is: C. In a franchise, parties are independent. d. competition may be spending more money on advertising than you. This includes all of the following except: What is the primary purpose of information systems in a start-up franchise? The advantages of franchising include: A. c. True or false: Individual thinking they were buying franchise that gave them an opportunity for success found that they had paid for what amounted to little more than a name. C) Geography Chapter 14- Franchising and Purchasing an Existing Business Which of the following things is NOT true about the accounting process? D. Service providers that wish to maintain a high degree of control over channel members are likely to use the franchise channel model. D) Unity b. d. Changes in zoning which affect the business. Only franchisees operating multi-unit franchisees can own more than a single franchise.. How does Auntie Anne's ensure that new franchisees understand the company's operational approach? E. All of the above are about equal. Operational Control. D) The community C. Franchise fee. The "Restrictions on the Sources of Products and Services" section of the UFOC describes _______, what the potential franchisee must purchase from the franchisor and what the franchisee can source independently. D) Unable Which of the following types of financial ratios measures how well a franchise meets its short-term debts or financial obligations? What is the name of that program? Much franchise litigation has arisen over termination of owners. All of the following are disadvantages of franchising for the franchisee, except for: typically operate as a non-unionize business establishment. he can ensure that the new stores are operated according to his own standards through the franchise agreement. A trial period of at least 3 years C. Court permission D. Notice to the Spend a significant amount of time being visible. Firm's records D. Uniform Code of Justice (UCJ) 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. b. new-old, old-old NOT: customers C. Lodging. The Franchise Disclosure Document helps the franchise buyer to make a knowledgeable purchase. Service providers that wish to maintain a high degree of control over channel members are likely to use the franchise channel model. Marketing strategy. Because of disputes between franchisors and franchisees, a program was instituted to arbitrate them. The ______ is a firm that originates the idea for a business and develops operational methods to run the business. c. all of the above. All of the above statements are accurate. Selling supplies to the franchisee franchatter. E) All of the above, The FDD includes information such as ________. new-old, When one discusses upside gain and downside loss, one is talking about There is one thing every franchise system knows. Which of the following is something that would not be included in the plan? a. A) Type of franchise Which of the following ratios would be ranked the best? He is considering applying to small firms because he knows that small businesses have traditionally added _____ new jobs to the economy. D) Federal Disclosure Document ( ) usually provides the starting-point of data collection when conducting marketing research. Business situations that are appropriate to consider when looking for growth through franchising include all but which one of the following? E. All of the above statements are true. SCORE is a group of retired businesspeople who volunteer their services to small business through the SBA. (pg 134) according to Brian Hendricks, what are the 5 "p's" of entrepreneurship. a. Which practice is a competitive concern for franchisees? It is a channel used exclusively for distribution of consumer durable goods. Collecting a percentage of sales from each franchisee It has an established cash flow. Henry approaches her about operating his own business under the terms above. A) Internet franchises B) Conversion franchises C) Co-branding franchises D) Piggybacking franchises E) Leapfrogging franchises E) Leapfrogging franchises Any cost saving resulting from Any cost saving resulting from franchisee purchasing power helps to offset other costs, such as franchise ________. Is it up to date? Business students at universities can work together to provide management counseling to small businesses in their community. d. Franchisors benefit from the franchise agreement because they have. market value. old-old. When Reno purchases the McDonald's she will be expected to supply, labor and capital and will own and operate the outlet. The category most franchise systems are in is the one that has focus on product or service qualities or characteristics with prices being a second-level or a lower order concern to the purchaser. In a franchise, two parties are involved, the franchisee and franchisor. E. Possible high level of managerial motivation fostered by franchising. Meeting with every member of the current staff. Some franchisors provide different levels of support depending on how much the franchisee is willing to pay. C. Franchise agreement a. new-new Business format franchising is best illustrated by the system offered by, The franchising strategy whereby an individual or firm is granted the legal right to own more than one unit of a franchised business is known as. Payroll Which of the following sequences of the three-step location model is correct? your accountant. Franchisors sometimes act like a business partner. E. Quality control standards. invest money in the operation. franchisee training and guidance. Charging for company-specific training courses and materials. In the "_________" section of the UFOC, the franchisor must disclose all fees that are charged to franchisees. Hobby b. D) Initial inventory All franchisees operating under single-unit franchises own and operate one unit. With regard to the evaluation of franchisee performance and degree of control: The high degree of control by the franchisor helps to provide a guaranteed, detailed, and regular flow of performance data that benefits both parties. c. The most common form of business ownership in the United States is the corporatio. a. the market. If you are looking to start a business that is creative and is not controlled by others, then franchising is your best option. alternative energy a. Match the situations involved in the negotiation process between a franchisor and a franchisee with their likely outcome: The franchisor might negotiate a complete different deal with the granchisee in order to get started with a self-sufficient operator. liquidation pricing, "Piggybacking" one's way into business involves using a ____approach. D. Is based on a percentage of the franchisee's gross sales. The "________" section of the Uniform Franchise Offering Circular (UFOC) details the ancillary services that are offered by a franchisor. A franchise is a business that markets a product or service developed by a franchisor, typically in the manner specified by the franchisor. Which is not a key question to ask when buying a business? Repeat the test using the critical value approach. How old is the business? b. opportunitites. c. The accounting records of a company are kept separate from its owners. Bus-x100 Exam #2 Flashcards | Quizlet c. Franchisees have the option of using the logo and symbols of the franchisor. Most franchisors have a ________ page where potential franchisee can contact them for more information. The term "risk vs. loss" refers to the amount of return for funds invested. a. maintain a specified quality of performance. Debt Service weaknesses. If he seeks the average-size SBA-guaranteed business loan he will borrow, Money invested in small, new, or struggling firms that have the potential to become very successful is called. 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 Franchising and franchise channels continue to grow dramatically. a. c. d. d. WebWhat is usually required for a franchisor to terminate a franchise? NOT: marketing and advertising to customers E. Franchising and franchising channels are not growing in other developed countries. This is an example o. Craig has $60,000 to invest in a new small business. Identify an accurate statement about buying an existing business. a. As it pertains to the motivation of franchisees, which statement is generally false? new-new b. 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. Which of the following statements are relevant to the definition of, "franchise"? b. Test the following hypotheses at the .05.05.05 level of significance. guidance from the franchisor Terry's Tires made just under $750,000 last year, according to the Small The _____approach indicates the importance of people's awareness of their daily lives for developing new business ideas. Companies that invest in small businesses. Which of the following is true regarding inspections conducted by franchisors? Where is Ellis most likely to go for advice and guidance about running the outlet? A franchisee generally receives which of the following when purchasing a business? the franchisee's revenue stream is fairly consistent because franchisers pay fixed fees and

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