INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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You look cool, you control everything
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You don’t have to pay franchisers, you don’t have to work
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Proven system of operation, initial training, marketing support
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No pay
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Detailed explanation-1: -Franchising shifts the responsibility of hiring and managing the workforce necessary grow the business to franchisees. Relieved of the associated costs and management difficulties, franchisors can operate with a leaner staff that is focused on implementing and growing the system.
Detailed explanation-2: -Business assistance. One of the benefits of franchising for the franchisee is the business assistance they receive from the franchisor. Brand recognition. Lower failure rate. Buying power. Profits. Lower risk. Built-in customer base. Be your own boss. 22-Oct-2020
Detailed explanation-3: -Reduced risk of failure. Ongoing business support. Market expertise. Brand recognition and loyalty. Increased buying power. Higher profits. Better chance of finance. Being your own boss. More items
Detailed explanation-4: -Business Assistance. Unlike starting your own business, franchising comes with business assistance from the franchisor. Brand Recognition. Capital. Lower Failure Rate. Legal Protections. Limited Creative Opportunities. Lack of Control. Initial Cost. More items •01-Feb-2023