Small Business Management Study Set 2
Quiz 4: Franchises and Buyouts
The Entrepreneur Who Enters into a Franchising Agreement Does Not
The entrepreneur who enters into a franchising agreement does not acquire the right to use the franchiser's trademark or brand name.
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In many cases, a franchiser will receive payments in the form of royalties that are based on a percentage of the franchisee's gross income.
Franchising is typically defined as a marketing system revolving around a two-party legal agreement whereby a franchiser is granted the privilege to conduct business as an individual owner according to the methods and terms specified by the franchisee.
The potential value of any franchise arrangement is defined by the rights outlined in the franchise contract.
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