Franchising PDF

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UGRD-BAMM6002 Franchising...

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An Existing Franchise available on Resale offers an assurance that a business is up and running Select one: True False Question 2 Correct Mark 1.00 out of 1.00

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Question text The right combination of four R's potential franchisee's must have; Select one: a. Realism, Resources, Research, and resolve b. None of the choices c. Response, Reciprocation, Recognition and Ratification d. Both A and B

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Question text A potential franchisee can begin with an industry analysis in order to assess the attractiveness of a franchise. The industry analysis should include; Select one:

a. Analysis of franchisors fees and investment requirements b. Analysis of industry economic traits, key driving forces, strategic group mapping, and industry key success factors c. Analysis of a franchisors country origin d. None of the choices

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Question text A new franchise has proven methods of doing business and a well-established brand reputation Select one: True False Question 5 Correct Mark 1.00 out of 1.00

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Question text What business qualification does McDonald’s seek in its potential franchisees? Select one: a. An entrepreneurial spirit and strong desire to succeed

b. All of the choices c. High personal integrity d. A willingness to personally devote full time and best efforts to the day-to-day operation of the restaurant as on-premise owner-operator

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Question text Some of the benefits of starting a new entrepreneurial venture over doing doing business through franchsing include: Select one: a. All of the choices b. A lot of freedom to choose location of doing business and decide all other aspects of business c. More scope for future growth d. A lot of freedom to try out new ideas

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Question text It is essential to make sure whether the one who is interested in buying a franchise has adequate financial resources to finance the fixed assets, acquisition of the business, and maintenance of the business. attempting to stretch beyond one's financial strength could lead to disaster.

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Question text A potential franchisee should carry out an industry analysis and should also know the players in that industrythat are going through the franchising route Select one: True False Question 9 Correct Mark 1.00 out of 1.00

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Question text A potential franchisee should ask general related questions to assess the potential of a franchise. The question include;

Select one: a. What is the market expansion plan of the franchisor? b. What is the setting up and business acquisition cost? c. None of the choices d. What kind of promotional support the franchisor is likely to extend?

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Question text Overall a new Franchise is low risk of doing the business with an ease to obtain finance. Select one: True False Question 11 Correct Mark 1.00 out of 1.00

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Question text A potential franchisee should carry out self-assessment and determine whether he/she has the qualities to run a franchise successfully. Select one: True

False Question 12 Correct Mark 1.00 out of 1.00

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Question text A potential franchisee should ask finance related questions to assess the potential of a franchise. The question include; Select one: a. the future expansion plan of the franchisor b. the way in which the franchise is exactly being operated c. What is the market position d. What is the setting up and business acquisition cost?

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Question text During an interview with a franchisor, a potential franchisee should ask several relevant questions. Some of the marketing related questions include Select one: a. What is the size of the local market?

b. Both A and B c. What is the market position of the franchisor vis-à-vis rival firms? d. None of the Choices

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Question text By meeting existing franchisees, a potential franchisee can obtain a fairly good idea about Select one: a. the future expansion plan of the franchisor b. the way in which the franchise is exactly being operated c. the franchisor total market potential in all the territories d. the available franchise opportunity

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Question text A potential franchisee should ask market and marketing related questions to assess the potential of a franchise. The question include; Select one: a. What is the current market size of the franchisor? b. What kind of promotional support the franchisor is likely to extend? c. All of the choices d. What is the growth rate of the market that the franchisor currently serves?

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Question text A potential franchisee should ask legal contract related questions to assess the potential of a franchise. The question include; Select one: a. Whether the territory of operation exclusive or non-exclusive? b. Whether the Franchisor finances fully or partially? c. What is the setting up and business acquisition cost?

d. What is the business running cost?

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Question text A new franchise the franchisors offers assistance in the pre-start up stage Select one: True False Question 18 Correct Mark 1.00 out of 1.00

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Question text Starting a new business offers a high degree of freedom to the entrepreneur, as compared to doing a business as a franchisee Select one: True False Question 19 Correct Mark 1.00 out of 1.00

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Question text The existing Franchise could inherit problems such as employees with low commitment, pricing issues, poor procedures, an sometimes legal liabilities.

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Question text An Existing Franchise available on Resale could be costly to buy an existing franchise Select one: True False...