Question 1

If you make the decision to franchise,the next step is to develop both a business plan and a detailed operations manual.

Accepted Answer

A) True 
 B)False  True

Question 2

Which of the following personal characteristic is generally of the most importance to franchisors?

Accepted Answer

A) Credit and financial standing 
B) Previous work experience 
C) Personality 
D) Educational background 
A) Credit and financial standing 
B) Previous work experience 
C) Personality 
D) Educational background A

Question 3

This type of franchise is the most popular and simplest format.

Accepted Answer

A) Single-unit franchise 
B) Area franchise 
C) Master franchise 
D) Corporate franchise 
A) Single-unit franchise 
B) Area franchise 
C) Master franchise 
D) Corporate franchise A

Question 4

The application form normally requires you to provide a deposit,typically in the range of:

Accepted Answer

A) $100-$250 
B) $500-$1000 
C) $2000-$5000 
D) $5000-$10000 
A) $100-$250 
B) $500-$1000 
C) $2000-$5000 
D) $5000-$10000

Question 5

The application form will likely request all of the following information,except:

Accepted Answer

A) The value of your net assets 
B) Your name and mailing address 
C) Your religion 
D) The names of any fraternal or civic organization to which you might belong 
A) The value of your net assets 
B) Your name and mailing address 
C) Your religion 
D) The names of any fraternal or civic organization to which you might belong

Question 6

What are some of the obligations imposed on the franchisee?

Accepted Answer

Some of the obligations include: 1.Build

Question 7

As a growth strategy,franchising can provide you with the ability to improve your market share by increasing your number of points for distributing your product or service.

Accepted Answer

A) True 
 B)False

Question 8

In order to franchise your business,you must have a successful business concept that can be readily replicated in other locations.Describe four criteria which can assess the readiness of a company for franchising and the likelihood it will be successful as a franchisor.

Accepted Answer

Credibility,differentiation,tr

Question 9

This type of franchising is the fastest way for a franchisor to expand.

Accepted Answer

A) Single-unit franchise 
B) Area franchise 
C) Master franchise 
D) Corporate franchise 
A) Single-unit franchise 
B) Area franchise 
C) Master franchise 
D) Corporate franchise

Question 10

Franchisors are not required by law in Ontario to provide prospective franchisees with a disclosure document.

Accepted Answer

A) True 
 B)False

Question 11

Franchising is based on mutual trust and a legal relationship between the two parties.

Accepted Answer

A) True 
 B)False

Question 12

All of the following are considered disadvantages of buying a franchise,except:

Accepted Answer

A) Loss of independence 
B) Misrepresentation by the franchisor 
C) Misunderstanding the franchise agreement 
D) Easier access to financing and reduced cash requirements 
A) Loss of independence 
B) Misrepresentation by the franchisor 
C) Misunderstanding the franchise agreement 
D) Easier access to financing and reduced cash requirements

Question 13

In this format,a franchisor grants you (the master franchisee)the right not only to operate an outlet in a specific territory but also to sell subfranchises to others within that same territory.

Accepted Answer

A) Single-unit franchise 
B) Area franchise 
C) Master franchise 
D) Corporate franchise 
A) Single-unit franchise 
B) Area franchise 
C) Master franchise 
D) Corporate franchise

Question 14

Franchising is a legal and commercial relationship between the owner of a trademark,trade name,or advertising symbol and an individual or group of people seeking the right to use that identification in a business.

Accepted Answer

A) True 
 B)False

Question 15

A key element in the success of many franchise organizations is the sameness of each of the franchise outlets.Explain.

Accepted Answer

Franchisors will work to ensure the main

Question 16

List five of the obligations undertaken by the franchisor.

Accepted Answer

1)To provide basic business training to

Question 17

Royalties are usually:

Accepted Answer

A) Calculated as a percentage of the gross sales 
B) Calculated as a percentage profits 
C) A fixed monthly expense 
D) Set up depending on what the individual can afford to pay 
A) Calculated as a percentage of the gross sales 
B) Calculated as a percentage profits 
C) A fixed monthly expense 
D) Set up depending on what the individual can afford to pay

Question 18

Describe three future trends in franchising.

Accepted Answer

The trends include: 1.Increasing emphasi

Question 19

Which of the following is an example of an entire business format franchising arrangement?

Accepted Answer

A) Tim Hortons 
B) General Motors 
C) Ford 
D) Coke 
A) Tim Hortons 
B) General Motors 
C) Ford 
D) Coke

Question 20

What are the common elements included in virtually all franchise arrangements?

Accepted Answer

Virtually all franchise arrangements con

If you make the decision to franchise,the next step is to develop both a business plan and a detailed operations manual.

Which of the following personal characteristic is generally of the most importance to franchisors?

This type of franchise is the most popular and simplest format.

The application form normally requires you to provide a deposit,typically in the range of:

The application form will likely request all of the following information,except:

What are some of the obligations imposed on the franchisee?

As a growth strategy,franchising can provide you with the ability to improve your market share by increasing your number of points for distributing your product or service.

In order to franchise your business,you must have a successful business concept that can be readily replicated in other locations.Describe four criteria which can assess the readiness of a company for franchising and the likelihood it will be successful as a franchisor.

This type of franchising is the fastest way for a franchisor to expand.

Franchisors are not required by law in Ontario to provide prospective franchisees with a disclosure document.

Franchising is based on mutual trust and a legal relationship between the two parties.

All of the following are considered disadvantages of buying a franchise,except:

In this format,a franchisor grants you (the master franchisee)the right not only to operate an outlet in a specific territory but also to sell subfranchises to others within that same territory.

Franchising is a legal and commercial relationship between the owner of a trademark,trade name,or advertising symbol and an individual or group of people seeking the right to use that identification in a business.

A key element in the success of many franchise organizations is the sameness of each of the franchise outlets.Explain.

List five of the obligations undertaken by the franchisor.

Royalties are usually:

Describe three future trends in franchising.

Which of the following is an example of an entire business format franchising arrangement?

What are the common elements included in virtually all franchise arrangements?

Buying a Franchise

Marketing

Financing Your Business and Accounting Practices

Legal Considerations

Business Plans

Cost and Profitability Assessment

Market Feasibility Study

Exploring Business Ideas and Opportunities

Assessing Your Potential for an Entrepreneurial Career

Buying a Business

Filters

Exam 11: Sales

If you make the decision to franchise,the next step is to develop both a business plan and a detailed operations manual.

Which of the following personal characteristic is generally of the most importance to franchisors?

This type of franchise is the most popular and simplest format.

The application form normally requires you to provide a deposit,typically in the range of:

The application form will likely request all of the following information,except:

What are some of the obligations imposed on the franchisee?

As a growth strategy,franchising can provide you with the ability to improve your market share by increasing your number of points for distributing your product or service.

In order to franchise your business,you must have a successful business concept that can be readily replicated in other locations.Describe four criteria which can assess the readiness of a company for franchising and the likelihood it will be successful as a franchisor.

This type of franchising is the fastest way for a franchisor to expand.

Franchisors are not required by law in Ontario to provide prospective franchisees with a disclosure document.

Franchising is based on mutual trust and a legal relationship between the two parties.

All of the following are considered disadvantages of buying a franchise,except:

In this format,a franchisor grants you (the master franchisee)the right not only to operate an outlet in a specific territory but also to sell subfranchises to others within that same territory.

Franchising is a legal and commercial relationship between the owner of a trademark,trade name,or advertising symbol and an individual or group of people seeking the right to use that identification in a business.

A key element in the success of many franchise organizations is the sameness of each of the franchise outlets.Explain.

List five of the obligations undertaken by the franchisor.

Royalties are usually:

Describe three future trends in franchising.

Which of the following is an example of an entire business format franchising arrangement?

What are the common elements included in virtually all franchise arrangements?

Buying a Franchise

Marketing

Financing Your Business and Accounting Practices

Legal Considerations

Business Plans

Cost and Profitability Assessment

Market Feasibility Study

Exploring Business Ideas and Opportunities

Assessing Your Potential for an Entrepreneurial Career

Buying a Business

Filters