FRANCHISING

Ray Kroc began his career in the restaurant industry as a:

• chief executive officer
• salesman

Tags

CCSS.RI.11-12.10

CCSS.RI.6.10

CCSS.RI.7.10

CCSS.RI.8.10

CCSS.RI.9-10.10

This is the legal right granted to an individual (or group) to operate a business as if it were part of a larger chain of stores.

• franchise
• patent

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

This is the individual or organization selling the franchise.

• franchisor

• franchisee

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

This is the person or organization purchasing the franchise.

• franchisee
• franchisor     

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

What does the franchisor provide for those purchasing the franchise?

• advice
• training
• advertising
• all of these are provided 

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

Which is a franchisor?

• Allows others to use their brand and business for a fee

• Takes over a business

• Buys into an existing brand

What is a franchise?

• Where a business sells the rights to their brand
• Where you have full control
• Where you keep all the profits

What is a royalty?

• A business award by the queen
• A type of business
• A payment to a franchisor

A franchisor offers lots of training to the new franchisee

• True

• False

A franchisee can operate a business anywhere they want and are not restricted by territory

• True

• False