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
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Question
Chapter 5.7D, Problem 2CC
Summary Introduction
To determine: One major benefit of franchising for the franchisor and franchising for the 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.
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Describe at least one advantage and one disadvantage of franchising for the franchisor, and at least one advantage and disadvantage of franchising
for the franchisee.
State one major benefit of franchising for the franchisee.
What are the common areas of conflict between franchisee and franchisor. Explain
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Foundations of Business (Standalone Book) (MindTap Course List)
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- State the advantages of franchising.arrow_forwardDiscuss the benefits and drawbacks of franchising.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_forward
- What are the advantages of franchisor?arrow_forwardWhich 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_forwardThe purchaser of a franchise is called the franchisor. True or Falsearrow_forward
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