Franchise Insights QuizOnline version Test your knowledge on the advantages and disadvantages of buying a franchise! by sarah ayyad 1 What is a primary advantage of buying a franchise? a Established brand recognition b High startup costs c No training provided d Complete operational freedom 2 Which of the following is a disadvantage of franchising? a Unlimited profit potential b Ongoing royalty fees c Full control over business decisions d No marketing support 3 Franchisees often benefit from what type of support? a No support at all b Freedom to change the product line c Training and operational guidance d Independent marketing strategies 4 What is a common requirement for franchisees? a Ability to set prices independently b Adhering to brand standards c No need for a business plan d Complete autonomy in operations 5 Which of the following can be a financial disadvantage of franchising? a No upfront investment b Free advertising c Initial franchise fees d Guaranteed income 6 What is a potential risk of buying a franchise? a Dependence on the franchisor's success b No competition in the area c Guaranteed market success d Complete independence 7 Franchise agreements typically include what? a No contractual obligations b Personalized business strategies c Unlimited freedom to change rules d Terms and conditions of operation 8 One advantage of franchising is access to what? a Complete operational freedom b Personal brand development c No need for a business plan d Proven business model 9 What can franchisees expect in terms of marketing? a National marketing campaigns b No marketing support c Only local advertising d Independent marketing strategies 10 What is a common reason people choose to buy a franchise? a Lower risk compared to starting from scratch b Complete control over branding c No competition d Higher profit margins
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