A Franchise (Leaving Cert Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does a franchisee pay to the franchisor in a franchise agreement?
What does a franchisee pay to the franchisor in a franchise agreement?
A fee & % of turnover or profits
Which of these is mentioned as an example of a franchise business?
Which of these is mentioned as an example of a franchise business?
Subway
What must be purchased from the franchisor to set up a franchise?
What must be purchased from the franchisor to set up a franchise?
A licence
Who assumes liability for the operation of the franchised business?
Who assumes liability for the operation of the franchised business?
The franchisee
What must franchisees secure funding for when starting up?
What must franchisees secure funding for when starting up?
Initial fee, setup & operational costs
Who maintains significant control over the business model and branding?
Who maintains significant control over the business model and branding?
The franchisor
How does a proven business model benefit a franchisee?
How does a proven business model benefit a franchisee?
Reduces risk of starting a new business
What economy of scale benefit do franchisees receive?
What economy of scale benefit do franchisees receive?
Bulk purchasing at lower costs
What impact do ongoing royalties have on a franchise?
What impact do ongoing royalties have on a franchise?
Can affect profitability
What limitation do franchisees face regarding business changes?
What limitation do franchisees face regarding business changes?
Limited ability to innovate or alter