Franchise in business
Quiz by Sarah Ayyad
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11 questions
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- Q1What does a franchise allow a business owner to do?Merge with another companyClose down their businessInvest in the stock marketExpand their business by selling the rights to operate under their brand and system30s
- Q2What is a franchise fee typically used for?Investing in real estatePaying for initial training, equipment, and support from the franchisorBuying new office furnitureDonating to charity30s
- Q3Which of the following is a benefit of owning a franchise?High risk of failureComplete independence in decision-makingLack of support from the franchisorEstablished brand recognition and customer loyalty30s
- Q4What is the role of the franchisor in a franchise business?Setting the prices for productsManaging the day-to-day operations of the franchiseHandling customer service complaintsProviding training, marketing support, and a proven business system30s
- Q5What is the term used to describe the fee paid by a franchisee to the franchisor on an ongoing basis?Maintenance feeFranchise costLicensing feeRoyalty fee30s
- Q6What is a common benefit of owning a franchise in business?Complete independence and freedom to operate as desiredHigher risk of business failure compared to independent businessesAccess to a proven business model and established brandLimited support and resources from the franchisor30s
- Q7What is a conglomerate in business?A large corporation that consists of diverse companies operating in various industriesA government agency that regulates businessesA non-profit organization that relies on donationsA small business that focuses on one specific product30s
- Q8Why do conglomerates often acquire companies in different industries?To diversify their revenue streams and reduce riskTo increase costs and inefficienciesTo eliminate competition in the marketTo focus solely on a single industry for specialized expertise30s
- Q9What is a potential drawback of conglomerates in business?Complexity and difficulty in managing diverse operationsReduced competition in the marketLimited access to resourcesStreamlined decision-making processes30s
- Q10Which strategy is commonly used by conglomerates to finance acquisitions?Using profits from existing operationsSeeking government subsidiesCutting costs and reducing workforceIssuing bonds or taking out loans30s
- Q11How do conglomerates benefit from risk diversification in their business operations?By avoiding any form of risk in their business decisionsBy relying solely on government subsidies for financial stabilityBy spreading investments across different industries to offset lossesBy focusing all resources on a single market to maximize profits30s