What is the main advantage of a franchise as a form of business ownership?Complete autonomyGuaranteed successEstablished brand and operational supportNo initial investment required
Question
What is the main advantage of a franchise as a form of business ownership?Complete autonomyGuaranteed successEstablished brand and operational supportNo initial investment required
Solution
The main advantage of a franchise as a form of business ownership is the established brand and operational support. This means that the franchisee can benefit from the recognition and reputation of an already established brand, as well as receive support in terms of operations, marketing, and other aspects of running the business. This can significantly reduce the risk and uncertainty compared to starting a business from scratch.
Similar Questions
What is an advantage to an entrepreneur of becoming a franchisee?
Which of the following is not an advantage to a franchisee?Quick expansion into new territoriesBusiness advice from a franchisor with a successful track recordAdvertising and marketing support paid for by the franchisorSelling of a known, popular product
Franchisees experience all of the following benefits exceptMultiple Choiceemployee training.brand recognition.marketing assistance.management assistance.autonomy to make decisions.
Which of the following is one of the shortcomings experienced by franchisees in a franchise arrangement?Multiple Choicecentralized buying powerlack of management training and assistanceless freedom in business decisionslow chances for success
Which of the following is NOT a characteristic of a franchise?Independent operationPayment of royaltiesOperating under a franchisor's trade nameFollowing a franchisor's operational guidelines
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.