ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Some feel that because franchise owners don’t come up with the original business concept, they are not “real entrepreneurs.” Of those people, some may even be asking, “Can an entrepreneur buy a franchise?” The answer is yes, of course! And this does not make you any less of an entrepreneur.

Detailed explanation-2: -Franchising falls under the umbrella of entrepreneurship as it is considered to represent an entrepreneurial partnership or cooperative arrangement between two types of entrepreneurs, namely, franchisors and franchisees (Gonzalez-Diaz and Solis-Rodriguez, 2012; Thaichon et al., 2019).

Detailed explanation-3: -Entrepreneurship is the process of creating a new business i.e. a start-up company offering a process, product or service. Entrepreneurship is a constant process that relies on learning, creation, application and innovation in the market place.