A business arrangement where one party allows another party to use a business name and sell its products or services is known as?Question 1Answera.A franchise.b.An owner-manager business.c.A cooperative.d.A limited company.
Question
A business arrangement where one party allows another party to use a business name and sell its products or services is known as?Question 1Answera.A franchise.b.An owner-manager business.c.A cooperative.d.A limited company.
Solution
The answer is a. A franchise. In a franchise business model, one party (the franchisor) grants another party (the franchisee) the right to use its trademark or trade-name as well as certain business systems and processes, to produce and market a good or service according to certain specifications.
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