1.7 Expanding A Business Flashcards
1
Q
What is a franchisor
A
A franchisor sells a franchise usually in return for a fee and percentage of turnover.
2
Q
What is a franchise?
A
A franchise occurs when a franchisor sells the rights to its products to a franchisee; this is usually in return for a fee and percentage of turnover.
3
Q
What is a franchisee
A
A franchisee buys a franchise usually in return for a fee and percentage of turnover.
4
Q
What is organic/internal growth
A
Internal growth (also known as organic growth) occurs when a business gets bigger by selling more of its products.
5
Q
What is external growth/ intergration
A
External growth (also known as integration)occurs when a business gets bigger by joining or buying other businesses
