________ is primarily used by service organizations.
A) Licensing
B) Franchising
C) Sourcing
D) Procuring
E) Importing

Question

Quizplus · Accepted Answer

Franchising is a commonly used model in the service industry where a company grants the rights to use its business model and brand name to another entity (the franchisee) in exchange for a fee or royalty. The franchising model is highly suited to service businesses such as restaurants, hotels, and fitness centers as they can benefit significantly from the proven business model and established brand recognition of the franchisor.

________ Is Primarily Used by Service Organizations