Understanding Business
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Chapter 5.5, Problem 5.5AQ
Summary Introduction

To determine: The type of franchise service that appeal most to the business owner.

Introduction:

When the right to use the name of a specific business is given somebody to sell the goods and services under the name in a particular territory, it is known as franchise.

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select a franchise that interests you. Once you have looked at the information provided, please prepare and submit a written report that covers the following: Name of franchise you selected and a brief summary of the business opportunity. Why you selected the franchise you did. What was it about this particular franchise that attracted you to it? Start-up costs. Specify what the owner (“franchisee”) will have to invest, as well as any contributions toward start-up that the franchisor will make. Potential profit or income from the business. Support that the franchisor will provide the owner (“franchisee”), such as training, supplies, materials/equipment, location, building.
Would you rather own your own business independentlyor become a franchisee? Why?
Which form of business is generally most costly to set up but offers the most personal protection?   a) Sole proprietorship   b) Partnership   c) Corporation   d) Franchise
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