GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Established brand reputation.
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High cost to buy in.
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Low decision making.
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None of the above.
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Detailed explanation-1: -What are the benefits of being a franchisee? The benefits include getting a nationally recognized name and reputation, a proven management system, promotional assistance, and pride of ownership.
Detailed explanation-2: -Ten advantages of franchising The risk of business failure is reduced by franchising. Your business is based on a proven idea. You can check how successful other franchises are before committing yourself. Products and services will have already established a market share.
Detailed explanation-3: -Advantages of franchising your business You will not have to cover the cost of investing in new premises or staff. Additional sales lead to additional profit and if you retain this in the business, in the long-term, you should have a saleable asset for your future.