What are the primary advantages to owning a franchise? Select all that apply.The franchisor provides brand-name recognition and marketing plans.Franchises are inexpensive to start up and run.The franchisor assumes all the risk in the business.The franchisor provides training, management assistance, supplies, and a product.Franchisees keep all their profits for themselves.
Answer
A
The franchisor provides brand-name recognition and marketing plans.
B
Franchises are inexpensive to start up and run.
C
The franchisor assumes all the risk in the business.
D
The franchisor provides training, management assistance, supplies, and a product.
E
Franchisees keep all their profits for themselves.
Explanation
A franchise can benefit from the franchisor’s established brand recognition and marketing plans, which help attract customers. Franchisors also commonly provide training, management assistance, supplies, and the product or service. Franchises can require substantial startup and ongoing costs, and franchisees still bear business risks and share revenue through fees or royalties.
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