MGT 255 - Chapter 6

Card Set Information

Author:
LoveStorm
ID:
69580
Filename:
MGT 255 - Chapter 6
Updated:
2011-02-28 13:43:20
Tags:
Management
Folders:

Description:
Franchising
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  1. What are some advantages of franchising for the franchisor?
    Franchise fee

    Royalties

    Greater presence (rapid)
  2. What are some advantages of franchising for the franchisee?
    Good relationship with supplier

    Training

    Advertising

    Knowledge from other franchisees
  3. What are some disadvantages of franchising for the franshisor?
    Risk

    Lawsuit

    Cost of training

    They might not follow the rules
  4. What are some disadvantages of franchising for the franchisee?
    Start up fees

    Must get equipment from franchisor

    Advertising might not be good for you

    Exaggeration of financial success
  5. How do you become a franchisor?
    1. Establish a prototype

    2. Prepare necessary information

    3. Investigate legal requirements

    4. Develop a planned and standardized program of operations

    5. Obtain adequate financing

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