Commerce Exam > Commerce Questions > State Whether the Following Statements are Tr...
Start Learning for Free
State Whether the Following Statements are True or False.
Q. In business format franchise opportunity approach, a company provides a business owner with a proven method for operating a business using the name and trademark of the company.
Q. In business format franchise opportunity approach, a company provides a business owner with a proven method for operating a business using the name and trademark of the company.
- a)True
- b)False
Correct answer is option 'A'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
State Whether the Following Statements are True or False.Q.In business...
A business format franchise is a franchising arrangement where the franchisor provides the franchisee with an established business, including name and trademark, for the franchisee to run independently.
Prominent examples of well-known franchise business models include many food chain restaurants, such as McDonald's and Subway. Other examples of franchise opportunities are businesses like UPS and H & R Block. In the United States, there are franchise opportunities available across a wide variety of industries.
Prominent examples of well-known franchise business models include many food chain restaurants, such as McDonald's and Subway. Other examples of franchise opportunities are businesses like UPS and H & R Block. In the United States, there are franchise opportunities available across a wide variety of industries.
Most Upvoted Answer
State Whether the Following Statements are True or False.Q.In business...
Understanding Franchise Opportunities
In the context of business, the franchise opportunity approach is a widely recognized model that allows individuals to operate a business under an established brand.
What is a Franchise?
- A franchise is a business model where the franchisor (the company) grants the franchisee (the business owner) the right to operate a business using its brand name and trademark.
- The franchisee benefits from a proven business method, which increases the likelihood of success.
Key Features of Franchise Opportunities
- Proven Business Model: The franchisor provides a tested and successful method for running the business, reducing risks associated with starting a new venture.
- Brand Recognition: Franchisees operate under a well-known brand, which can lead to immediate customer trust and loyalty.
- Support and Training: Franchisors typically offer initial training and ongoing support, helping franchisees navigate the complexities of running a business.
- Marketing Assistance: Many franchises provide marketing resources to help franchisees attract and retain customers.
Conclusion
The statement in question is true. In a business format franchise opportunity approach, the company indeed provides a business owner with a proven method for operating a business, utilizing the company’s name and trademark. This model not only offers a lower risk of failure but also supports entrepreneurs in achieving their business goals effectively.
In the context of business, the franchise opportunity approach is a widely recognized model that allows individuals to operate a business under an established brand.
What is a Franchise?
- A franchise is a business model where the franchisor (the company) grants the franchisee (the business owner) the right to operate a business using its brand name and trademark.
- The franchisee benefits from a proven business method, which increases the likelihood of success.
Key Features of Franchise Opportunities
- Proven Business Model: The franchisor provides a tested and successful method for running the business, reducing risks associated with starting a new venture.
- Brand Recognition: Franchisees operate under a well-known brand, which can lead to immediate customer trust and loyalty.
- Support and Training: Franchisors typically offer initial training and ongoing support, helping franchisees navigate the complexities of running a business.
- Marketing Assistance: Many franchises provide marketing resources to help franchisees attract and retain customers.
Conclusion
The statement in question is true. In a business format franchise opportunity approach, the company indeed provides a business owner with a proven method for operating a business, utilizing the company’s name and trademark. This model not only offers a lower risk of failure but also supports entrepreneurs in achieving their business goals effectively.
Attention Commerce Students!
To make sure you are not studying endlessly, EduRev has designed Commerce study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Commerce.
|
Explore Courses for Commerce exam
|
|
Similar Commerce Doubts
Top Courses for CommerceView all
State Whether the Following Statements are True or False.Q.In business format franchise opportunity approach, a company provides a business owner with a proven method for operating a business using the name and trademark of the company.a)Trueb)FalseCorrect answer is option 'A'. Can you explain this answer?
Question Description
State Whether the Following Statements are True or False.Q.In business format franchise opportunity approach, a company provides a business owner with a proven method for operating a business using the name and trademark of the company.a)Trueb)FalseCorrect answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about State Whether the Following Statements are True or False.Q.In business format franchise opportunity approach, a company provides a business owner with a proven method for operating a business using the name and trademark of the company.a)Trueb)FalseCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for State Whether the Following Statements are True or False.Q.In business format franchise opportunity approach, a company provides a business owner with a proven method for operating a business using the name and trademark of the company.a)Trueb)FalseCorrect answer is option 'A'. Can you explain this answer?.
State Whether the Following Statements are True or False.Q.In business format franchise opportunity approach, a company provides a business owner with a proven method for operating a business using the name and trademark of the company.a)Trueb)FalseCorrect answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about State Whether the Following Statements are True or False.Q.In business format franchise opportunity approach, a company provides a business owner with a proven method for operating a business using the name and trademark of the company.a)Trueb)FalseCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for State Whether the Following Statements are True or False.Q.In business format franchise opportunity approach, a company provides a business owner with a proven method for operating a business using the name and trademark of the company.a)Trueb)FalseCorrect answer is option 'A'. Can you explain this answer?.
Solutions for State Whether the Following Statements are True or False.Q.In business format franchise opportunity approach, a company provides a business owner with a proven method for operating a business using the name and trademark of the company.a)Trueb)FalseCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of State Whether the Following Statements are True or False.Q.In business format franchise opportunity approach, a company provides a business owner with a proven method for operating a business using the name and trademark of the company.a)Trueb)FalseCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
State Whether the Following Statements are True or False.Q.In business format franchise opportunity approach, a company provides a business owner with a proven method for operating a business using the name and trademark of the company.a)Trueb)FalseCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for State Whether the Following Statements are True or False.Q.In business format franchise opportunity approach, a company provides a business owner with a proven method for operating a business using the name and trademark of the company.a)Trueb)FalseCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of State Whether the Following Statements are True or False.Q.In business format franchise opportunity approach, a company provides a business owner with a proven method for operating a business using the name and trademark of the company.a)Trueb)FalseCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice State Whether the Following Statements are True or False.Q.In business format franchise opportunity approach, a company provides a business owner with a proven method for operating a business using the name and trademark of the company.a)Trueb)FalseCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice Commerce tests.
|
|
Explore Courses for Commerce exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup