Franchise vs
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Questions and Answers

What is a franchise?

  • A type of large corporation that operates independently and pays royalties to the parent company
  • A business model that does not benefit from the reputation of the parent company
  • A business structure that is completely different from corporations and operates similarly
  • A type of small business that is a clone of a successful standalone business and pays fees to the parent company (correct)

    • What does a franchise store benefit from?

  • No support from the parent company for branding and advertising
  • Limited association with the parent company to maintain uniqueness
  • Independent operation and complete control over branding and advertising
  • Reputation of the parent company and support with branding, advertising, and employee training (correct)

    • Can corporations be franchises?

  • Franchises and corporations are the same thing
  • No, corporations are not allowed to operate as franchises
  • Franchises cannot be part of corporations
  • Yes, corporations can establish franchises as part of their business expansion (correct)

    • What is the relationship between a franchise and a parent company?

    <p>The franchise pays fees to the parent company and benefits from its reputation and support</p> Signup and view all the answers

    How do franchises differ from corporations?

    <p>Franchises replicate a successful standalone business and pay fees to the parent company, while corporations operate independently</p> Signup and view all the answers

    Franchises and corporations are completely similar in structure and operation.

    <p>False</p> Signup and view all the answers

    Franchise owners pay fees to the parent company of the franchise store.

    <p>True</p> Signup and view all the answers

    Corporations cannot be franchises.

    <p>False</p> Signup and view all the answers

    Franchise stores do not benefit from the reputation of the parent company.

    <p>False</p> Signup and view all the answers

    McDonalds is an example of a franchise with numerous locations worldwide.

    <p>True</p> Signup and view all the answers

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