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Entrepreneurship, Franchising and Small Business.

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Entrepreneurship, Franchising and Small Business.
Introduction to Business

Assignment #01: On Chapter #3 & #4

Chapter #3: Entrepreneurship, Franchising and Small Business.

09. Why would a person want to own a franchise of a major well-known franchisor?

10. What is an intrapreneur? Why do some firms encourage intrapreneurship?

Chapter #4: Social Responsibility and Business Ethics.

09. Why is insider trading illegal?

Chapter#3: Entrepreneurship, Franchising and Small Business

Question #09: Why would a person want to own a franchise of a major well-known franchisor?

Answer:

While many people desire to open and operate their own independent business, there are quite a few obstacles that most face. Starting a business from scratch can be very intimidating and most people don 't even know where to begin.
For many, purchasing and running a franchise business may be the way to go. Purchasing one of these outfits offers that the privilege to promote an already successful recognized product or service, along with many other benefits. If we are looking to open and run our own operation, franchising may very well be the best option for us and should at the very least be seriously considered.
Generally safer than starting a business from scratch, franchising is a proven business format that helps firms to grow quickly and efficiently. In other words, purchasing a well-known franchise is a great way to go into business for us. Think of it as "entrepreneurial coloring inside the lines." In general terms, a franchise is a license to use the name, trademarks, and products or service offered by an already existing company (e. g. KFC, Pizza Hut). Franchising opportunities allow us to distribute products or offer the services of an established business.
Top reasons of purchasing a franchise of a major well-known franchisor-
Corporate Image and Brand Name Awareness
If we buy into a franchise system that is already established the corporate image and brand awareness is already recognized. Customers
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