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Franchising 101

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Questions and Answers

Which of the following best describes a franchisor?

A person who purchases a franchise

A person who sells a franchise (correct)

A person who manages a franchise

A person who operates a franchise

Who is responsible for selling a franchise?

Franchisee

Franchisor (correct)

Business broker

Franchise consultant

What is the role of a franchisor in a franchise relationship?

To operate the franchise business

To provide ongoing support and guidance to the franchisee (correct)

To purchase a franchise

To manage the franchise operations

Which of the following has influenced the rate of adoption of new technologies the most?

Technological advancements Signup and view all the answers

What is the main factor that has affected the rate of adoption of new technologies?

Cost of new technologies Signup and view all the answers

Which of the following is NOT a factor that has influenced the rate of adoption of new technologies?

Competitor strategies Signup and view all the answers

Study Notes

Franchising

A franchisor is a company that grants the right to use its brand, products, and business model to another company (the franchisee).
The franchisor is responsible for selling the franchise.
The franchisor's role is to provide training, support, and ongoing guidance to the franchisee, while also maintaining brand standards and ensuring consistent quality.

Technology Adoption

The rate of adoption of new technologies is influenced by several factors, including the perceived benefits, cost, ease of use, and compatibility with existing systems.
The main factor that has affected the rate of adoption of new technologies is the perceived benefits.
The following are NOT factors that have influenced the rate of adoption of new technologies: the color of the technology.

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Description

Test your knowledge of franchising with this quiz! Learn about the role of a franchisor, their responsibilities, and their relationship with franchisees. See how much you know about the world of franchising and expand your understanding of this business model.