ENTREPRENEURSHIP

Detailed explanation-1: -A franchise provides an established product or service which may already enjoy widespread brand-name recognition. This gives the franchisee the benefits of a pre-sold customer base which would ordinarily takes years to establish.

Detailed explanation-2: -The correct option is a) The franchisee can easily establish a business with reduced risks. A franchising agreement is a contract with the franchisor that enables the franchisee to establish and operate a business under the franchise name.

Detailed explanation-3: -A franchise (or franchising) is a method of distributing products or services involving a franchisor, who establishes the brand’s trademark or trade name and a business system, and a franchisee, who pays a royalty and often an initial fee for the right to do business under the franchisor’s name and system.

Detailed explanation-4: -One of the primary motivators for owning a franchise is it allows you to go into business FOR yourself, but not BY yourself. That’s because you are buying into a proven business model leveraging an established brand with a built-in customer base.

Detailed explanation-5: -Being your own boss. When you start a business and are self-employed, you are your own boss and ultimately control your own destiny. Personal fulfillment. Financial rewards. Flexible hours. Following your passion.