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Franchise in business

Quiz by Sarah Ayyad

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11 questions
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  • Q1
    What does a franchise allow a business owner to do?
    Merge with another company
    Close down their business
    Invest in the stock market
    Expand their business by selling the rights to operate under their brand and system
    30s
  • Q2
    What is a franchise fee typically used for?
    Investing in real estate
    Paying for initial training, equipment, and support from the franchisor
    Buying new office furniture
    Donating to charity
    30s
  • Q3
    Which of the following is a benefit of owning a franchise?
    High risk of failure
    Complete independence in decision-making
    Lack of support from the franchisor
    Established brand recognition and customer loyalty
    30s
  • Q4
    What is the role of the franchisor in a franchise business?
    Setting the prices for products
    Managing the day-to-day operations of the franchise
    Handling customer service complaints
    Providing training, marketing support, and a proven business system
    30s
  • Q5
    What is the term used to describe the fee paid by a franchisee to the franchisor on an ongoing basis?
    Maintenance fee
    Franchise cost
    Licensing fee
    Royalty fee
    30s
  • Q6
    What is a common benefit of owning a franchise in business?
    Complete independence and freedom to operate as desired
    Higher risk of business failure compared to independent businesses
    Access to a proven business model and established brand
    Limited support and resources from the franchisor
    30s
  • Q7
    What is a conglomerate in business?
    A large corporation that consists of diverse companies operating in various industries
    A government agency that regulates businesses
    A non-profit organization that relies on donations
    A small business that focuses on one specific product
    30s
  • Q8
    Why do conglomerates often acquire companies in different industries?
    To diversify their revenue streams and reduce risk
    To increase costs and inefficiencies
    To eliminate competition in the market
    To focus solely on a single industry for specialized expertise
    30s
  • Q9
    What is a potential drawback of conglomerates in business?
    Complexity and difficulty in managing diverse operations
    Reduced competition in the market
    Limited access to resources
    Streamlined decision-making processes
    30s
  • Q10
    Which strategy is commonly used by conglomerates to finance acquisitions?
    Using profits from existing operations
    Seeking government subsidies
    Cutting costs and reducing workforce
    Issuing bonds or taking out loans
    30s
  • Q11
    How do conglomerates benefit from risk diversification in their business operations?
    By avoiding any form of risk in their business decisions
    By relying solely on government subsidies for financial stability
    By spreading investments across different industries to offset losses
    By focusing all resources on a single market to maximize profits
    30s

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