DBBS Unit 3 - OPTIONS FOR ORGANIZING SMALL AND LARGE BUSINESS

A franchise is a business in which the operator pays a mixture of upfront and ongoing fees in order to _____ the brand name and supporting resources of a parent company.

• buy

• license

• purchase

• loan

What is included when you license a franchise?

• Capital

• Ownership

• Business model

• Shares

What do you call the owner of a franchise?

What do you call the investor of a franchise?

Which of the following is NOT an example of a franchise?

• McDonalds

• Cotton On

• Upperstar

• Harvey Norman

What is the name of the 'commission' that the franchisor receives from the franchisee?

• Ongoing fees

• Upfront fees

• Investment fees

• Royalty fees

A _____ business is independently owned and operated.

A business is considered a small business when there is lesser than how many employees?

• 500

• 50

• 5

• 5000

Which of the following is NOT a characteristic of a small business?

• Independent

• Local operations

• Small sized

• Has shareholders

Why is running a small business stressful?

• Lack of financial resources

• You may still be new

• A lot of things to worry about

• It is time-consuming