a franchisor can control all of the following except

Which is not a start-up expense? Fran's Fancy Frocks, a retail clothing store, may not exceed ___ in annual sales to qualify as a small business. Intro to Business- Chapter 5 Flashcards | Quizlet Ch. 5 business Flashcards | Quizlet c. c. A. Franchisors provide significant operational assistance to franchisees. A) Type of franchise Operational Control. E) Employees, A franchisor's record of success can ________. C) Purchasing power For Jerry's Automobile Parts Fabricating business to qualify as a small business, it can employ no more than ___ people. a. Franchisees benefit from continued franchisor research and development of products and processes. franchisee All can be sidestepped. Compensate the franchisee for the use of its trademark. The number of jobs provided by franchised businesses is slightly less than those provided by durable goods manufacturing. NOT: asset utilization for the business b. all of the above, The UFOC contains how many sections: Which of the following is not a key question a prospective buyer needs to ask in buying a business? Franchisees may pay a fee that is separate from the royalty fee, often called a cooperative advertising fee, to contribute to an individual advertising fund. it can be either franchisor- or franchisee-driven. company name. D) Doing Internet research d. C) Penalty c. C. The greatest benefit to franchisors is the marketing assistance they receive from franchisees. Ellis owns a Subway franchise. All of the following are true about small business except. asset value. c. And, how much will it cost to implement? d. During the period a patent is in effect, no business or individual can copy or use the patented invention without the patent holder's permission. Changes in the product supply chain. How old is the business? About how much work should she expect to do to make the franchisee successful? Where should you retire someday? Where should the business be located? This is higher than _____, the amount the Census Bureau and Federal Reserve say 50 percent of all new businesses begin with.. A(n) ____ is a carefully constructed plan for an individual starting a business. He feels that the franchisor is hurting his business by forcing him to buy higher priced products from high-priced suppliers. a deferential sale of business clause. Entitles the franchisee to business operational advice. Selling a franchise to the franchisee accounts receivable B) Franchisee Disclosure Document Joyce worked for a large printing company for two years then quit to take a job at a small sole proprietorship printing company. b. b. E. The details of franchise management are vague enabling franchisees to adapt to changing environmental conditions. They meet with a business planner who helps them compile a business plan. b. process for expanding a business or service through licensing arrangement. The franchise with the most outlets in the United States is. Which of the following is something that would not be included in the plan? B. B. What is the owner's personal net worth? A leading apparel manufacturing firm in the United States invites applications to establish franchises in Texas. He works many hours from January through April but in May takes a month-long vacation and the rest of the year works part-time. c. The "Restrictions on What the Franchisee May Sell" section of the UFOC describes ____________. D) Capacity to secure franchisees The franchisor provides a system for the franchisee to operate the business. A Starbucks franchise located inside a Target store is called ___________ franchising. d. It is uncommon for a franchisor to handle the national and regional media purchasing for a franchisee. Which of the following is true about the serious prospective franchisee? Attorneys and CPA firms A franchisor typically provides _______ to develop performance management programs, quality controls methods, forecasting, and purchasing of equipment, which are very valuable services that act as guidelines rather than mandates in deciding on a franchise. What is a realistic number for a sample size when doing market research? C. Training. b. C. The franchisor provides little beyond a license to use its trademarked products. Which of the following are ways in which a franchisor earns profits? This company could also be referred to a. Samantha would like to own her own business but doesn't want to start it from scratch. Franchising is based on a system that the franchisor has already set upand it works. Thus, franchisees must comply with both the franchise agreement and the franchise operations manual to achieve a comparable level of performance. Moreover, these materials safeguard the whole franchise. If you are looking to start a business that is creative and is not controlled by others, then franchising is your best option. Companies that invest in small businesses. c. Jeremy has written a business plan for the business he would like to open. c. track record of the franchisor sales taxes, business taxes, property taxes, employee taxes. The Clayton Act makes it illegal for competitors to get together and set prices on the products or services they sell. B. To properly develop a franchise system the franchisor must develop the franchise system at three different levels. Generally, franchise marketing channels are more closely knit (i.e., closer relationships) than conventional channels. new-new a. must be provided to the potential franchisee early in the process. The franchisee and franchisor are linked by a bond of voluntary cooperation rather binding contracts. Franchising and franchise channels continue to grow dramatically. An existing business has an established cash flow. Identify which generic category fits most franchise systems below. The most popular SBA course is, a course that surveys eight to ten areas of business management, An organization created by Congress in 1953 to help, counsel, and protect small business is known as the. Test the following hypotheses at the .05.05.05 level of significance. Regarding the interfaces between channel management and other marketing mix variables that exist in franchise channels, which statement is most accurate? Which technique is not valid for valuing a company? legal and professional fees Property, plant, and equipment is recorded at cost (minus any accumulated depreciation) Though a location manual or policy may be developed to assist in determining optimal sites, for franchised businesses that require a store-front location the final determination often rests with: Which two concepts receive primary consideration when determining store layout? Hobby B. The product quality is within the perception of the customer and is greatly influenced by the franchise system's server. Low expectations among franchisees The _________ has the responsibility for the business location, of establishing the business, and of building the storefront. A) Themselves new-new goodwill A regular and continuous fee paid to the franchisor by the franchisee is called: (Check all that apply.) Which of the following small businesses could be categorized as being in the distribution industry? NOT: Multi-unit Franchisee. The number of franchised business establishments has continued to growth in the U.S. Today there are approximately ( ) franchise businesses in operation. B) Termination of the franchise _________ is a broad area that encompasses such things as brochures, signs, logos, televisions advertisements, newspaper, advertisements, sales techniques, adn internal business design. E. Is a government tax to register the franchise. D) Legal action WebThe Franchisor bills and received payment from the customer directly, and then after deducting its royalties and other fees and payments, sends the Franchisee the balance; If True or false: One advantage of buying an existing business instead of a franchise is that an existing business already has an established cash flow. WebThe way to approach a new business venture is to think up a good or service that is unique. b. Developing a plan for the business. Juan has been awarded a franchise in an industry in which the franchisor has licensed him to sell and distribute its product to retailers. c. equity? Which of the following statements regarding what franchisors include as part of their package are correct? b. D) Many legal disputes b. d. T/F, One drawback of becoming a franchisor relates to possible new restrictions as a requirement for contract renewal. Which of the following is a true statement pertaining to single-unit franchises? B. T/F, Because the offering and sale of a franchise are more intensely regulated by state and federal laws than is the establishment of a new business, individuals and/ or firms involved in negotiating a franchise arrangement have limited need for legal counsel. C) Fixtures b. In multi-unit franchisees, franchisees receive permission from the franchisor to own and operate more than one unit at the outset of their relationship, whereas single-unit franchises initially only receive permission to operate a single unit. False T or F? E. None of the above. the franchise A. What type of competition exists? the financial picture of the business. b. he can ensure that the new stores are operated according to his own standards through the franchise agreement. identify a franchisor that is the best potential match for him or her in terms of support, expansion plans, and so on. A. c. The implementation of marketing mix variables in franchise channels is less fluid and flexible than in conventional channels. Which of the following organizations would most likely give her the help she needs? new competition may reduce market share. McDonalds is the only franchise available for ownership internationally. inventory He wants the business to succeed. Entrepreneurs should asses their skills and interests. market value. a. Jack owns a franchise. This desire is referred to as. 7-eleven Inc. Reno is a. E. Number of manufacturers in the industry. Which of the following statements are relevant to the definition of, "franchise"? new-old, When one discusses upside gain and downside loss, one is talking about d. a. Macy argues that its primary function is to guarantee loans. Leticia has always wanted to own her own restaurant but has read that restaurants have a very high failure rate. the owner's reason for selling. The planner will want to find the answers to all of the following questions except. Some franchisors provide different levels of support depending on how much the franchisee is willing to pay. Sales tax. How many years will she have to repay the loan? new-new, new-old d. the franchise. inventory turnover. all of these are reasons it could be beneficial. The downsides for franchisees participating in franchise channels include all of the following except: Which of the following statements is true regarding, business format franchises? old-new b. T/F, A franchise is typically attractive because it offers training, financial assistance, and operating benefits. Hobby What is your conclusion using the p-value approach? C. Multi-unit franchises require the franchisor to provide greater operational assistance to their franchisees than do they do for single-unit franchises. Prior job d. Brent and Wendy plan to open a new business. Which one below fits the description of----goods or services that are frequently purchased, usually are low-to- competitively priced, and staples, emergency or impulse buys. D) Gender How long has a franchisor been in the business? Entitle the franchisee to use the franchise's name. Franchising offers all the following benefits for - Brainly.com location of the competition. She heard about a business model in which an individual or organization grants a license to another to operate an individually owned business as though it were part of a chain of outlets or stores. The "right questions" the prospective small business owner should ask about a franchise deal with The founding a franchise is quite ________ in form and method to creating a new business from scratch. A. With regard to the evaluation of franchisee performance and degree of control: The high degree of control by the franchisor helps to provide a guaranteed, detailed, and regular flow of performance data that benefits both parties. a. success will cause another outlet to be opened nearby. Small Business Chp IV - Franchises and Buyouts Flashcards E) All of the above, Products and services in a franchise may not be altered, added, or dropped without ________. b. There is an established set of process. Chance It is a channel used exclusively for distribution of consumer durable goods. This demonstrates which advantage of a small business? The franchisor says it has the power to control which suppliers the franchisees use due to implied powers in the franchise agreement. A) Guarantees brand recognition all of the above, Coming up with a unique good or service is a _____approach, while adapting something that is currently on the market or extending the offering to an area where it is not presently available is a(n) _____approach. Which one of the following is Not a common method of borrowing funds in the short-term when considering the rate of interest to be paid: To fund a franchise business, most franchisee use: In financial planning with the franchised business, the most basic and essential variable of the financial planning tools is the: All of the current assets of the firm, or more specifically, current assets minus current liabilities equals: Estimation of sales and other income for a period and cash disbursements to be paid in the same period identifies the components of the: What is the primary purpose of information systems in a large franchise? brand-name appeal of the franchise A. Which of the following is NOT one of the four P's of selling? b. new-old Richard orders some Harley-Davidson Trikes for his inventory. Which of the following are reasons entrepreneurs should conduct their own market research? Which type of franchisor program offered to franchisees is based on the general notion that new franchisees have little or no specific business knowledge about the franchise system? old-old It is structured between single-unit and multi-unit franchises. When buying a small business you need to know all of the following items except: The most important section of the business plan is: In urban areas, approximately how much of a store's business is done by people who live or work within a five-minute drive or walk of the location? Increased management flexibility There are six major organizational development tasks required of a franchisor to develop from a single unit firm into a growing franchise system. Firm's records small businesses create cyclical unemployment, Small firms usually sell parts and assemblies to large firms because the large firms have found that, it is less expensive than making their own. An existing business has the benefit of having an established set of processes. Are You Still a Franchisee When the Franchisor Controls Everything? a, b, and c only. What types of customers does this store attract? d. the franchisee Which one of the following is not one of the required factors for successful leadership? B) Research d. d. High-tech ___ entrepreneurship is exploding. What environmental impact did European practices of land management have in Australia and New Zealand? The ___________ is a contract linking all franchisees to the franchisor. Franchise fees: C. Franchise agreement A) Fees and costs b. The start-up and ongoing assistance provided by a franchisor guarantees your success. The most important area to examine prior to purchasing a business is company profitability. Which of the following is not an advantage of a franchise? b. b. Which of the following businesses would most likely be included in the production industry? One wants to make sure they are not buying into a fad but a viable long-term business. Which of the following sequences indicates the path taken by these figures during the accounting process? Much franchise litigation has arisen over termination of owners. a. A) Provide a significant advantage for your business start-up The owner may be in trouble with suppliers. B. When buying a business, you should do all of the following except, A corporation's senior officers decide how much should be paid out in dividends. T/F, The entrepreneur who enters into a franchising agreement does not acquire the right to use the franchisor's trademark of brand name. c. The Consumer Product Safety Act of 1972 sets safety standards for products other than food and drugs. After doing routine background checks, the firm permits John to open a branch of the firm in a given area, use the firm's name, and operate a business within the guidelines of an agreement. A) Product and trade-name franchising NOT: prospective franchises being recruited into the system. new-old, Which of the following are trends creating business opportunities? Automotive According to Jim Peterson, it is important to know how customers honestly perceive the quality of the product or service offered by the franchise system. d. D) Be proven b. Wherein the goal of the market-focused business strategy is to identify and supply product/service to discrete segments with promise of strong demand yet allowing for flexibility in meeting demand and where a firm can concentrate its internal resources describes characteristics of which of the following four market-focused business strategies? Which of the following ratios would be ranked the best? a. What is the key to convincing someone to purchase your franchise, product, or service? All are costs. b. Which one of the following tasks is not one of these six major organizational development tasks? Potential franchisees should evaluate franchisors' operations based __________. C) Franchisor Disclosure Document The franchisee is bound by the terms the franchise contract. C) Territory A primary consideration for a potential franchisee is that the capital required to become a franchisee will likely be: about the same or potential more for starting a franchise business compared to starting an independent business in the same field. A) Franchise Disclosure Document Marilyn and Macy are arguing about the primary financial function of the Small Business Administration. c. His actions are possible because small businesses. Which is not a key question to ask when buying a business? A(n) _______ _______ is a basic contract generated by a franchisor for all franchisees. d. Competitor factors in a buying decision do not include a. b. The franchise's time frame. What crucial element is necessary for the success of co-branding partners? Is it up to date? B. Which is the most important and why? all of the above. your accountant. The business that represents 99.7 percent of all employers in the United States is a. WebFrianchisees are likely to be more successful when the franchisor provides high-quality products and helps with finding locations. All of the following are a new type of franchising opportunity except, Any costing saving resulting from franchises purchasing power helps to offset other costs , such as franchise, Start - Up Standard require of franchisees may include which of the following, Products and service in a franchise may not be altered, added, or dropped without, in many instances, products or ingredients in a franchise must be purchased from, As a franchise one will benefits from the purchasing power of the franchisor to get, a provide a significant advantage for a business start-up, all of the following are advantages of franching except, all of the following are selected franchise fee and cost accrording to the text except, Franchisors are to provide operations manuals and training to their franchisees , which are valuable resource for success, Fundamentals of Financial Management, Concise Edition, Daniel F Viele, David H Marshall, Wayne W McManus, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield. Which one of the following is NOT an advantage of franchising for the franchisee? a. a waiver of competition clause. WebWhich of the following is an advantage to purchasing a franchise?. Meeting with every member of the current staff. What are they? c. One downside for franchisors participating in franchise channels is: to identify factors which may pose major threats to or provide significant opportunities for the franchise system. Evaluating franchise opportunities include finding out more about which of the following? The individual who buys the franchise is the D) Federal Disclosure Document b. Which of the following best describes the industry she operates in? D) Data regarding existing units all of the above. Which of the following sequences of the three-step location model is correct? D) Promotional support

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