Exam 14: Franchising and Purchasing an Existing Business

Identify an accurate statement about buying an existing business.

Marketing advice is a qualitative area that is very helpful, independent of who is developing and delivering the research.

In franchising, an entity or individual granted the right to conduct business according to specified methods and terms of another party is known as a

Which of the following rights is NOT a benefit of purchasing a franchise?

When entering a new industry through the purchase of a franchise, a small business owner should

What are the differences between a franchisor and a franchisee?

There is a complex issue of organizing the process of change from a former business to a new business.

A potential franchisee has to be ________ before receiving a complete Uniform Franchise Offering Circular.

A very important commitment a franchisee demands from a franchisor is to limit the number of ________ within a specific radius of the new franchise.

In franchising, the ________ is the firm that originates the idea for a business and develops the operational methods.

In franchising, an entity or individual that grants another party the right to conduct business according to specified methods and terms is known as a

If an individual buys a troubled business, the first step is to restructure the business.

Which of the following should be accomplished by a new owner who purchased an existing business?

The success of franchising is dependent on the hard work of the franchisee and the value of the ________.

Which of the following is a reason for the popularity of franchising in the business world?

List the four ways that a franchisor makes money.

What rights does a franchisee receive in exchange for purchasing a franchise?

A franchisor typically provides ________ through such things as brochures, signs, logos, advertisements, and sales techniques.

A franchisor and franchisee relationship is governed by the

A franchisor pays a fee to obtain a franchise.