Which of the following best describes a franchise? Question 4 options: A retaile
ID: 2627697 • Letter: W
Question
Which of the following best describes a franchise? Question 4 options:
A retailer pays a fee to operate a business using a particular name under a standardized general business plan, with the fee often being paid in the form of royalties.
Two parties work together on a limited duration project or enterprise.
A seller of products is in business long enough for its trade name to become widely recognized.
A business sets up numerous retail locations owned by this business that all have similar products or services.
Explanation / Answer
A retailer pays a fee to operate a business using a particular name under a standardized general business plan, with the fee often being paid in the form of royalties.
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