BUISENESS MANAGEMENT
BUSINESS STRUCTURE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A franchise is defined as a business that:
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exists to promote the interests of its workers
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uses the name, logo and trading systems of an existing business
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owns and controls a number of separate businesses, but does not unite them into a unified company
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is a joint venture between two or more businesses
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Explanation:
Detailed explanation-1: -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-2: -The “franchisee” is the person or Corporation that owns and operates the business using the trade-mark and business model system licensed from the franchisor.
There is 1 question to complete.