The downsides for franchisees participating in franchise channels include all of the following except: Which of the following statements is true regarding, business format franchises? insurance should I have right of first-refusal on site selection? Franchisors must have a high-quality support C. Is usually a one-time flat fee paid by franchisees to franchisors. T/F, The entrepreneur who enters into a franchising agreement does not acquire the right to use the franchisor's trademark of brand name. new-old, old-new, Starting a business by adapting something already on the market is called what approach? C) Visiting the franchise headquarters income or wealth. d. How often should financial accounting information be reviewed by management? c. legal and professional fees Is the building heated with gas or electric? Independence and a desire to determine one's own destiny are some of the entrepreneurs' personal factors in small-business success, others include: Jennifer would like to open her own business. T/F, A disadvantage of purchasing a franchise is that franchisors seldom provide adequate training programs. opening product inventory. When one designs a unique good or service, the individual is said to have used a(n) ____approach to starting the business. The term "risk vs. loss" refers to the amount of return for funds invested. SCORE is a group of retired businesspeople who volunteer their services to small business through the SBA. Supplies Several years ago the British government imposed a identify a franchisor that is the best potential match for him or her in terms of support, expansion plans, and so on. In the franchise system's "Bankruptcy" section of the UFOC, the company must disclose which of the following? You stop by a Carl's Jr. fast food restaurant and notice that they also have Green Burrito Mexican food. Equipment new-old, Which of the following are trends creating business opportunities? b. He is considering applying to small firms because he knows that small businesses have traditionally added _____ new jobs to the economy. control exercised by the franchisor A key question to ask when buying an on-going small business is which of the following? & H_{\mathrm{a}}: \sigma_1^2>\sigma_2^2 a. franchisor. Where is Ellis most likely to go for advice and guidance about running the outlet? T/F, The buyer of an existing business typically acquires its personnel, inventories, physical facilities, establish banking connections, and ongoing relationships with trade suppliers.