Foundations of Business (Standalone Book) (MindTap Course List)
5th Edition
ISBN: 9781305511064
Author: William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 5, Problem 4DQ
Summary Introduction
To determine: Whether to own a business independently or to become a franchisee.
Introduction: Franchising is a notable business procedure and it is a type of legally binding declaration in which a franchisee or a retailer goes into a concurrence with a franchisor or a manufacturer to offer the merchandise and services for a predetermined expense or commission.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Would you rather own your own business independentlyor become a franchisee? Why?
Being a franchisee is an opportunity for those who lack business experience, the chance to own and operate a profitable business. What is your understanding of this statement?
Differentiate between partnership and sole proprietorship form of business.
Explain briefly, in your opinion which form of business is better?
Chapter 5 Solutions
Foundations of Business (Standalone Book) (MindTap Course List)
Knowledge Booster
Similar questions
- Which form of business is generally most costly to set up but offers the most personal protection? a) Sole proprietorship b) Partnership c) Corporation d) Franchisearrow_forwardIf you were to start a business, which ownership form would you choose? What factors might affect your choice?arrow_forwardImagine considering starting your own business or owning a franchise. What kinds of products or services will you offer?arrow_forward
- What are the advantages and disadvantages of each form of business ownership?arrow_forwardStarting up and managing a business requires one to act responsibly and ethically at all times. It is also imperative that one carefully considers the management team and the opportunities that franchising presents to a business to create a bigger brand name and increased market share You may consider franchising your business at some point. Discuss with justification, the type and model of franchise that your business will enter into.arrow_forwardWhat is the difference between franchisor and franchise?arrow_forward
- Why might being a Sole Trader be the best business enterprise when starting a business?arrow_forwardHow can small businesses compete with big businesses that sell similar goods and services?arrow_forwardIs someone an entrepreneur if they buy into a franchise so they can follow a well-established formula for running the operation?arrow_forward
- What are the key considerations for entrepreneurs when choosing between different types of business ownership, such as sole proprietorship, partnership, and corporation, and how do these choices impact various aspects of management?arrow_forwardHow will you know if your business is making profit or not?arrow_forwardWhat are the key legal considerations when starting a business, such as business structure, registration, and licensing requirements?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Foundations of Business - Standalone book (MindTa...MarketingISBN:9781285193946Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage LearningFoundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning