11.5 Establishing a Business Flashcards
1
Q
What is a franchise
A
A franchise is buying the rights from another business to distribute products under its name
2
Q
What is a Franchisor
A
A franchisor is an individual or business that grants a franchise. They supply a known and advertised business name, training and staff development, methods for running the business, and materials.
3
Q
What is a Franchisee
A
A Franchise is the individual or business that purchases a franchise. They musts supply the start-up money and labour and then become responsible for running the business.
