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Small Business Management

Business

Quiz 5 :

Franchising

Quiz 5 :

Franchising

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The parent company that develops a product or business process and sells the rights is known as the ______.
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A

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Business-format franchising is commonly used in which of the following?
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D

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Franchises have experienced growth since the 1950s, although they have existed since the ______.
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B

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The small business person who purchases the franchise in order to sell the product or service is known as the ______.
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Franchised businesses directly produce almost ______ jobs.
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Samuel has decided to buy a small pretzel shop, where he will be expected to pay fees and royalties for exclusive rights to local distribution of pretzels made at the shop. Samuel can best be described as a/an ______.
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Today, franchising is represented in almost every industry, with more than ______ U.S. businesses being franchises.
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A contractual license to operate an individually owned business as a part of a larger chain is known as a/an ______.
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The process of gathering and verifying the accuracy of information included in the franchise agreement and all other information provided by the franchisor is called ______.
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A type of franchise in which the franchisee agrees to purchase the products of the franchisor or use the franchisor's name is called ______.
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The greatest benefit to the franchisee is which of the following?
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Saving money on inventory needs, equipment, and supplies is an advantage for the franchisee that is called ______.
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Product-distribution franchising involves licensing the use of its ______.
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Through the franchise agreement, the ______ gains the benefit of the parent company's expertise, experience, management systems, marketing, and financial help.
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A type of franchise in which the franchisee adopts the franchisor's entire method of operation is known as ______.
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Making products available to consumers in a specific geographic region is the purpose of ______ franchising.
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While traveling across country over the summer, Gwen and Audrey stayed in well-known, franchised accommodations rather than opting for independent, unknown motels. This example demonstrates which advantage to franchisees?
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Tom has opened a Ford dealership, where he purchases vehicles from the Ford company and has full use of the Ford trade name, brand names, and logos to promote the dealership. Tom has engaged in what type of franchising?
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______ and ______ were two of the first businesspeople to use exclusive agents, which laid the ground for today's franchising.
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Providing a source of managerial and technical assistance is an advantage to the franchisee that might not be available to an independent business owner. This is called ______.
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