BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Lack of independence.
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Franchise businesses typically have a high failure rate.
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Lack of brand identity
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Training is not normally provided by the franchisor
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Detailed explanation-1: -Lack of independence. Franchise businesses typically have a high failure rate. Lack of brand identity. Training is not normally provided by the franchisor.
Detailed explanation-2: -Which of the following is a disadvantage of franchising? The franchisee has no flexibility as it is required to follow the franchisor’s procedures to the letter. A corporation is a form of business ownership in which: a business is considered a legal entity that is separate from its owners.
Detailed explanation-3: -Franchise businesses have higher rates of success It is a proven concept that franchises have a higher rate of success in comparison to a startup business. As a sizeable amount of work has already been achieved by the franchisor, high-brand awareness and recall has successfully been accomplished.