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Exam 11: Sales

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Question 1

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The application form normally requires you to provide a deposit,typically in the range of:

A) $100-$250
B) $500-$1000
C) $2000-$5000
D) $5000-$10000

E) A) and B)
F) A) and C)

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Question 2

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What are the common elements included in virtually all franchise arrangements?

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Virtually all franchise arrangements con...

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Question 3

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Describe three future trends in franchising.

If you make the decision to franchise,the next step is to develop both a business plan and a detailed operations manual.

Franchising is a legal and commercial relationship between the owner of a trademark,trade name,or advertising symbol and an individual or group of people seeking the right to use that identification in a business.

Franchising is based on mutual trust and a legal relationship between the two parties.

Royalties are usually:

This type of franchise is the most popular and simplest format.

As a growth strategy,franchising can provide you with the ability to improve your market share by increasing your number of points for distributing your product or service.

What are some of the obligations imposed on the franchisee?

Which of the following is an example of an entire business format franchising arrangement?

The application form will likely request all of the following information,except:

In order to franchise your business,you must have a successful business concept that can be readily replicated in other locations.Describe four criteria which can assess the readiness of a company for franchising and the likelihood it will be successful as a franchisor.

Franchisors are not required by law in Ontario to provide prospective franchisees with a disclosure document.

In this format,a franchisor grants you (the master franchisee) the right not only to operate an outlet in a specific territory but also to sell subfranchises to others within that same territory.

List five of the obligations undertaken by the franchisor.

Which of the following personal characteristic is generally of the most importance to franchisors?

This type of franchising is the fastest way for a franchisor to expand.

All of the following are considered disadvantages of buying a franchise,except:

A key element in the success of many franchise organizations is the sameness of each of the franchise outlets.Explain.