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Which best describes what a franchise does?
A franchise ensures wide distribution of a franchisor's trademark, business model, and goods. A franchise protects a franchisor against companies imitating its trademark, business model, and goods. A franchise stops franchisees from using a company's trademark, business model, and goods. A franchise limits the use of a franchisor's trademark, business model, and goods.
What is a franchisor?
A franchisor is a company that sells the right to use its name and/or operating systems to independent business owners. One of the best known franchisors is McDonald's.
What type of organisation is set up 'under licence' to use an established business name?
An organization set up "under license" to use an established business name is typically a franchise. In a franchise arrangement, the franchisee pays fees and royalties to the franchisor in exchange for the right to operate under the franchisor's brand and business model. This allows the franchisee to benefit from the established reputation and support of the franchisor while running their own business.
What is the individual or firm that grants a franchise is known as the?
The individual or firm that grants a franchise is known as the franchisor. The franchisor provides the franchisee with the rights to operate a business under their brand and established business model, often including training, support, and marketing. In return, the franchisee typically pays initial fees and ongoing royalties to the franchisor.
What is the franchise and what can we call the person franchise?
A franchise is a business model in which a franchisor grants a franchisee the rights to operate a business using its brand, products, and operational support. The franchisee pays fees or royalties to the franchisor in exchange for these rights. The person who owns and operates a franchise is called a franchisee.
What are some examples of a franchisor?
a person who starts a business a determined business man or woman
Which best describes what a franchise does?
A franchise ensures wide distribution of a franchisor's trademark, business model, and goods. A franchise protects a franchisor against companies imitating its trademark, business model, and goods. A franchise stops franchisees from using a company's trademark, business model, and goods. A franchise limits the use of a franchisor's trademark, business model, and goods.
What is a franchisor?
A franchisor is a company that sells the right to use its name and/or operating systems to independent business owners. One of the best known franchisors is McDonald's.
What type of organisation is set up 'under licence' to use an established business name?
An organization set up "under license" to use an established business name is typically a franchise. In a franchise arrangement, the franchisee pays fees and royalties to the franchisor in exchange for the right to operate under the franchisor's brand and business model. This allows the franchisee to benefit from the established reputation and support of the franchisor while running their own business.
What is the individual or firm that grants a franchise is known as the?
The individual or firm that grants a franchise is known as the franchisor. The franchisor provides the franchisee with the rights to operate a business under their brand and established business model, often including training, support, and marketing. In return, the franchisee typically pays initial fees and ongoing royalties to the franchisor.
Why is a franchising such a fast growing form of retail organizations?
Franchising also allows for increased distribution of a product. Franchisee's money expands the business while the franchisor collects initial fees and royalties, creating a successful business for the franchisee and brand expansion for the franchisor
What is the franchise and what can we call the person franchise?
A franchise is a business model in which a franchisor grants a franchisee the rights to operate a business using its brand, products, and operational support. The franchisee pays fees or royalties to the franchisor in exchange for these rights. The person who owns and operates a franchise is called a franchisee.
What is the limitation of franchsing?
The limitation of franchising is that the franchisor has to disclose confidential information to franchisees and this may constitute a risk to the business.
What happens to the profits in a franchise business?
In a franchise business, profits are typically shared between the franchisor and the franchisee. The franchisee retains a portion of the profits after covering operating expenses, while the franchisor may receive royalties or fees based on the franchisee's revenue. This arrangement incentivizes both parties to maximize profitability, as the success of the franchisee directly impacts the franchisor's earnings. Overall, profit distribution is governed by the terms of the franchise agreement.
Is a franchisor an entrepreneur?
Yes, a franchisor can be considered an entrepreneur as they create and develop a business model that can be replicated by others. They take on the risks associated with establishing a brand and providing support to franchisees while aiming for growth and profitability. By offering a franchise, they leverage their concept and expertise to expand their business through partnerships with franchisees.
What person or firm that purchases a franchise is called an?
A person or firm that purchases a franchise is called a "franchisee." The franchisee operates a business under the brand and system of the franchisor, who is the original owner of the franchise. Franchisees pay fees and royalties to the franchisor in exchange for support, brand recognition, and access to established business systems.
What is a franchise give three examples?
A franchise is a business model where an individual or group (the franchisee) is granted the rights to operate a business using the branding, products, and operational systems of an established company (the franchisor). This arrangement often includes training and support from the franchisor in exchange for fees or royalties. Examples of franchises include McDonald's, Subway, and Marriott Hotels.
