Franchising dominates the Quick Service Restaurant segment of the U.S. economy.

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Franchising dominates the Quick Service Restaurant segment of the U.S. economy.

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Question 2 (10 points)

The primary drawback of franchising to the franchisee is that you must give up some control, some decision-making power, and some freedom.

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Question 3 (10 points)

The small business person who purchases the franchise in order to sell the product or service is known as the

Question 3 options:

Company of Origin

Franchisee

Franchisor

Original Owner

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Question 4 (10 points)

Existing businesses do not have to be scrutinized carefully to determine whether they are a worthwhile investment of time and money.

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Question 5 (10 points)

All of the following are options for getting started as a business owner except

Question 5 options:

Inheriting a family-owned business

Managing a joint venture

Starting your own business

Buying an existing establishment

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Question 6 (10 points)

A method of determining the value of a business based on the worth of its assets is called.

Question 6 options:

Cash-flow method of valuation

Balance sheet method of valuation

Income statement method of valuation

Asset method of business valuation

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Question 7 (10 points)

The most critical concern in getting a business off the ground is the feasibility of the idea.

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Question 8 (10 points)

In addition to a business plan, a market analysis, competitive analysis, and startup costs are important to success.

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Question 9 (10 points)

Wanda has dreams of opening her own pet shop called "Wanda's Aquarium". Aside from think of a name and how her store will look, she has done very little planning at this very early stage. All she currently has is

Question 9 options:

Vision

Financial Means

Strategy

An Objective

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The risk of failure is greater with

Question 10 options:

Existing Businesses

Startups

Franchises

Existing Family-owned business

Explanation / Answer

True True, as the franchisee has to work as per the guidelines set by the franchisor Franchisee False Managing a joint venture Income statement method of valuation, as it is based on the income statement and not on the assets. True True Vision Startups as startups are completely unpredictable while others are having already a base to work.

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