personification vs animation | a franchisor can control all of the following except
insurance He wants the business to succeed. track record of the franchisor a legal restraint of trade. It is always important that you weigh the advantages vs. disadvantages in purchasing a franchise. Importance of channel members and nature of product Though a location manual or policy may be developed to assist in determining optimal sites, for franchised businesses that require a store-front location the final determination often rests with: Which two concepts receive primary consideration when determining store layout? Franchisees may pay a fee that is separate from the royalty fee, often called a ________, to contribute to a shared advertising fund. E. The desired degree of control of franchisees by franchisors is not relevant to the decision by franchisors to use the franchise channel model. b. E. Franchising and franchising channels are not growing in other developed countries. The most common form of franchising today is one in whic. A key question to ask when buying an on-going small business is which of the following? Changes in the product supply chain. A. Match the situations involved in the negotiation process between a franchisor and a franchisee with their likely outcome: The franchisor might negotiate a complete different deal with the granchisee in order to get started with a self-sufficient operator. Externally dedicated to the market, yet internally focused on production, seeking to produce high-volume or high-value product/service while carefully examining any new opportunities for costs/benefits in relation to known strengths of the firm, is a description of which one of the market-focused business strategies identified below. Which of the following statements most accurately describes the success rate of franchises? C. Multi-unit franchises require the franchisor to provide greater operational assistance to their franchisees than do they do for single-unit franchises. Terry's is a. Characteristics of a small business would include all of the following except. Which one of the following is Not a common method of borrowing funds in the short-term when considering the rate of interest to be paid: To fund a franchise business, most franchisee use: In financial planning with the franchised business, the most basic and essential variable of the financial planning tools is the: All of the current assets of the firm, or more specifically, current assets minus current liabilities equals: Estimation of sales and other income for a period and cash disbursements to be paid in the same period identifies the components of the: What is the primary purpose of information systems in a large franchise? b. whether employees with key skills will stay or leave. Offer new products/services in new territories to new customers, One who owns and operates more than one franchise unit is known as a, NOT: Area Developer c. There are four generic categories to classify goods and services. Sales tax. Marilyn and Macy are arguing about the primary financial function of the Small Business Administration. Franchisors often determine a franchisee's likelihood of success by looking at two things. The potential buyer Which of the following statement most accurately describes a franchise channel? A corporation pays taxes both on its income and on the amount it pays out in dividends, it faces very little government regulation. About how much work should she expect to do to make the franchisee successful? The first step for the franchisor to do is: contact and listen to each franchisee as possible, to determine what are the problems to be addressed. the franchisor It is structured between single-unit and multi-unit franchises. A) Accounting a deferential sale of business clause. About how much time does it typically take in the United States to establish a business as a legal entity? A. He has misjudged, In order to operate a successful small business, the entrepreneur should be most concerned with, Jeff Katz, the founder of Orbitz,Inc., when speaking about new businesses recently said, "A flat checkbook is the mother of invention." The market research should be independent of the franchisor. Companies that invest in small businesses. Solved Knowledge Check 01 Which of the following statement NOT: to improve operations at franchised units. d. D) Many legal disputes C) Franchisees 2- Do not have to find employees one time franchise fee and monthly royalties based on sales. A. c. Four factors are important in determining the size and shape of a primary service area (PSA). A. B. The acutal cost of "opening the doors" of a franchise establishment can be as high as $200,000. Which of the following is not a key question a prospective buyer needs to ask in buying a business? Compensate the franchisee for the use of its trademark. c. age of the competition's owners. Franchising and franchise channels continue to grow dramatically. WebA franchise agreement granting the right to use a widely recognized product or trademark. Most franchisors have a ________ page where potential franchisee can contact them for more information. She heard about a business model in which an individual or organization grants a license to another to operate an individually owned business as though it were part of a chain of outlets or stores. a. fast and selective distribution of products. Capital requirements that a potential franchisee must consider prior to becoming part of a franchise system include each of the following except for: Reasons a franchise system would have corporate locations, as well as franchisee locations are shown below, except for: franchisor avoids potential conflict with franchisees that may rise based upon market and site locations. What is the condition of the inventory? saleable value. d. Decide whether the following statement makes sense or not Explain your reason. Competitor factors in a buying decision do not include price competition may affect profits. His customers often talk about trikes. Approximately what percentage of food franchises are co-branded units? old-new have the ability to quickly adapt to change. c. Which is not a key question to ask when buying a business? d. Why do most franchisees choose to go into business with a franchised company? b. According to the U.S. Census, ( ) are the fastest growing segment of small business ownership today. What amount is generally considered adequate? brand-name appeal of the franchise B) They are always surprise inspections. A) Franchisor agreement E) Type of product. How many years will she have to repay the loan? All can be sidestepped. All of the above. Reno is a. NOT: customers a. d. 5-age. A franchise's economic figures must be recorded, then transferred and balanced before final calculations can be determined. b. Business students at universities can work together to provide management counseling to small businesses in their community. C. These franchises operate in environments with little competition. c. The franchisor provides a system for the franchisee to operate the business. B. What is the key to convincing someone to purchase your franchise, product, or service? Which of the following types of financial ratios measures how well a franchise meets its short-term debts or financial obligations? Add appropriate labels. C. Franchise fee. Identify the unique aspects to purchasing an existing business. Opening a franchise business has a great deal in common with _________. b. C) Popularity Which one below fits the description of----goods or services that are frequently purchased, usually are low-to- competitively priced, and staples, emergency or impulse buys. On-site management In exchange for an ownership share, small businesses receive financing from a group of investors known as 40%, Which franchise is not included in the top ten franchises? franchising Equipment The person who gets the franchise is usually required to do all of the following except: Anastasia has started a dry cleaning business but is having difficulties with various aspects of organizing and operating the business. A. d. True or false: A franchisor and a franchisee are both dependent on each other for success. The motivation of franchise channel members has less to do with cooperation and partnerships than in conventional channels. should I have right of first-refusal on site selection? All franchisees operating under single-unit franchises own and operate one unit. c. The individual who buys the franchise is the What helps you identify the customers whose needs your franchise best satisfies? lower a. Juan is most likely a franchisee in the ___ industry. f(t)=t2t+2. The government exercises very little control over sole proprietorships, A business that has the legal rights of a person and may have many owners is a, A business broker is a person who sells homes for a living, Which of the following antitrust legislation laws makes it illegal to discriminate by charging different prices to customers, The FDD contains all of the following information expect, the name and address of at least 200 current franchisees, Unlike regular corporations, an S corporation is not taxed as a business, Advertising fees for franchises are paid directly to the advertisers, An advantage of buying an existing business is that, A disadvantage of buying an existing business is that it may be poorly located. b. Why might it be a good idea for a franchisor to investigate several ASP vendors before choosing one? A) Training Compared to other types of businesses, the failure rate for franchises is __________. WebProbably the earliest example of franchising in the United States is most likely to be: McCormick Harvesting Machine Company. The franchisor owns the trademark and business model. accounts receivable Which of the following is not an element of a tort? When will the activities be started and completed? Which of the following is NOT an element of virtual relationship management in e-business strategy? disagreements between the two parties have increased and contract disputes are causing many lawsuits. They have heard that the disadvantages of small businesses include all of the following except. A) Type of franchise E) None of the above is a type of franchising. Which of the following laws requires lenders to inform consumers about all costs of credit before an agreement is signed? must be provided to the potential franchisee early in the process. In franchising, the _____ is the firm that originates the idea for a business and develops the operational methods. A. Is a specialized broker who handles all arrangements for closing a buyout, The purchase price of a business is determined by the negotiation between. WebA franchising strategy whereby a single franchise owns more than one unit in a given area is typically referred to as an area developer strategy T/F. Darrel is considering expanding the business by franchising. True or false: A poorly performing or disruptive franchisee detracts from the overall operations as well as taking time and effort of the franchisor away from the business of growing the brand. Franchise agreement usually allow the franchisee to operate the business _________. An existing business has an established cash flow. Leticia would like to start a business and has investigated starting her own or buying a franchise. D. Single-unit franchises enjoy a favorable image among consumers. To increase her chances of success she should consider, buying a franchise of a well established restaurant. Bill has his own tax preparation and accounting business. prepaid utility bills services. The product quality is within the perception of the customer and is greatly influenced by the franchise system's server. Which of the following are benefits of purchasing an existing business? d. Which of the following does Smoothie King founder Stephen Kuhnau credit as the reason for his success? Franchisees have the option of using the logo and symbols of the franchisor. a. both of the above. Which of the following issues should detailed in the "Business Experience" section of the Uniform Franchise Offering Circular (UFOC)? the competition in the area. What types of customers does this store attract? To be a successful leader, Jim Peterson, franchisor and former President of the IFA, believes it is necessary for four factors to exist for a person to be a successful leader. A. A significant amount of up-front cash is required to begin operations. Which of the following organizations can assist him? Darrel's Donuts has been operating quite successfully for two years. C) Purchasing power the franchise. The individual who arranges for a dealer to handle a specific product or service under certain mututally agreed upon conditions is known as the _____. E) All of the above, The FDD includes information such as ________. Buildings c. What are they? d. Franchising offers all the following benefits for franchisers except. Which of the following helps to simplify the difficult site selection process? Joyce worked for a large printing company for two years then quit to take a job at a small sole proprietorship printing company. Will the business's mission and vision change? Several years ago the British government imposed a Which is the most important and why? b. Perhaps the greatest advantage of buying a franchise, as compared to starting a new business or buying an existing one, is that the franchisor will usually provide both training and guidance to the franchisee. Salability c. A) Recognition Matilda would like to open an ice cream and sweet treats store but she will need a loan to do so. A. Bus-x100 Exam #2 Flashcards | Quizlet A. Franchisors provide significant operational assistance to franchisees. An existing business has the benefit of having an established set of processes. When buying a small business you need to know all of the following items except: 2. Which of the following is not an ongoing cost of franchises? franchisette. reduced concern over future operations. A) Fees and costs B. franchisette. A(n) _______ _______ is a basic contract generated by a franchisor for all franchisees. High-tech ___ entrepreneurship is exploding. D) It is unlawful to do such inspections. During the period a patent is in effect, no business or individual can copy or use the patented invention without the patent holder's permission. The franchisor might negotiate a complete different deal with the franchisee in order to get started with a self-sufficient operator. D) Optimism a. A) The franchisor Name the three steps used to allocate producing department activity cost pools using the ABC approach. Financial control procedures b. B. WebThe Federal Trade Commission monitors all of the following activities except the sale of unhealthful foods The Franchise Disclosure Document helps the franchise buyer to make The category most franchise systems are in is the one that has focus on product or service qualities or characteristics with prices being a second-level or a lower order concern to the purchaser. The 2014 Annual Report for Murphy Oil Corporation (see www.murphyoilcorp.com) shows the following numbers of barrels of crude oil produced per day in the United States annually from 2008 through 2014: Develop a bar chart that illustrates these data. What is the owner's personal net worth? An ongoing entity often has a higher purchase price due to __________. b. Which one of the following is not part of a franchise business arrangement? C) Uniformity Potential franchisees should evaluate franchisors' operations based __________. The number of franchised business establishments has continued to growth in the U.S. Today there are approximately ( ) franchise businesses in operation. How long has a franchisor been in the business? Selling supplies to the franchisee alternative energy proven track record. Spend a significant amount of time being visible. C) Visiting the franchise headquarters E. Franchisees provide significant operational assistance to franchisors. to generate data which can be used to accumulate working knowledge. The Franchise Disclosure Document helps the franchise buyer to make a knowledgeable purchase. c. c. The business franchise model is always an appropriate model to ensure a high degree of control, regardless of the industry. A partnership agreement identifies the type and value of the investment contributed by each partner. a. C) Years of experience When one designs a unique good or service, the individual is said to have used a(n) ____approach to starting the business. Advertising E) Employees, A franchisor's record of success can ________. The term "risk vs. loss" refers to the amount of return for funds invested. inventory Terry's Tires made just under $750,000 last year, according to the Small Business Administration. Which of the following businesses would most likely be included in the production industry? B) Marketing Pick the correct phrase from the following that best characterizes the relationship between franchisors and franchisees. C) Popularity B. b. Which of the following sequences of the three-step location model is correct? engaging in a continuous business relationship. The franchisor provides a system for the franchisee to operate the business. A trial period of at least 3 years C. Court permission D. Notice to the Who is responsible for these activities and outcomes? In multi-unit franchisees, franchisees receive permission from the franchisor to own and operate more than one unit at the outset of their relationship, whereas single-unit franchises initially only receive permission to operate a single unit. b. Business format franchises are prevalent in which of the following businesses? b. E. None of the above. An understanding of customers buying patterns before the business begins operations. D) Both A and B The advantages of franchising include: Which of the following are areas that the potential franchisee may be able to negotiate with the franchisor? These are questions directly associated with which phase of marketing strategy for a franchise system? location of the competition. WebQuestion: All of the following are reasons a franchisor may wish to maintain some degree of control and supervision over the franchisee, except to protect the franchise's name and 3 reasons for buying an existing business. d. franchisor Entitles the franchisee the right to open a business in a given area. E) All of the above, The formula provided by the franchise does which of the following? She is concerned she may not be given a loan and researches the subject, discovering that in 2013, the SBA data showed that women-owned businesses are. track record of the other franchisees as proof of success According to the SBA, in 2012 women were 51 percent of the U.S. population, and owned at least ___ percent of all small businesses. CHAPTER 2 Flashcards | Quizlet old-old a. E. Single-unit franchises are a very low-cost method of selling. H0:1222Ha:12>22\begin{aligned} Which practice is a competitive concern for franchisees? he/she is very straightforward about his/her interest, availability, and financial resources. pay a fee. Which type of franchisor program offered to franchisees is based on the general notion that new franchisees have little or no specific business knowledge about the franchise system? E) None of the above, All of the following are factors of franchise cost except ________. T/F, Because the offering and sale of a franchise are more intensely regulated by state and federal laws than is the establishment of a new business, individuals and/ or firms involved in negotiating a franchise arrangement have limited need for legal counsel. T/F, The entrepreneur who enters into a franchising agreement does not acquire the right to use the franchisor's trademark of brand name. A) Required The product life cycle model is a theoretical construct that helps franchisors understand the industry cycle and the cycle of specific products or services with a franchise system's product line. Which of the following small businesses could be categorized as being in the distribution industry? WebThe Franchisor provides all the following Except. c. determining markets in a geographical area with suitable customer demographics. market value. C) Ensures ongoing support In product distribution franchises: Franchise fees: a. True or false: One advantage of buying an existing business instead of a franchise is that an existing business already has an established cash flow. legal and professional fees B) Designated suppliers d. Which of the following is true of the risk involved in buying an existing business facing bankruptcy? B. Royalty agreement b. Potential franchisees should examine the franchisor's package and balance the cost and the _________ being offered. How old is the business? If you are looking to start a business that is creative and is not controlled by others, then franchising is your best option. c. D) Legal action Strong franchisors have all of the following except ________. Pizza Hut and The term "upside gain and downside loss" refers to the profits the business can make and the losses it can suffer. There is no need for legal representation when entering into a franchise agreement. A major reason for success of franchising is Franchisors sometimes act like a business partner. E) All of the above, Franchisors are ________ to provide operating manuals and training to their franchisees, which are a valuable resource for success. inventory turnover. a. All of the following are disadvantages of franchising for the franchisee, except for: typically operate as a non-unionize business establishment. B. The _____approach indicates the importance of people's awareness of their daily lives for developing new business ideas. all of the above. franchisee Operational Control. C. The franchisor provides little beyond a license to use its trademarked products. "The Franchisor, Its Predecessors, and Affiliates" section of the UFOC _________. Which of the following processes involves interpreting a relationship between two financial figures? economic efficiency? b. B) Consistency Franchisees benefit from continued franchisor research and development of products and processes. B) Not required In multi-unit franchisees, franchisees receive permission from the franchisor to own and operate more than one unit at the outset of their relationship, whereas single-unit franchises initially only receive permission to operate a single unit. new-new Meeting with every member of the current staff. Godfrey has just graduated from business school and is seeking employment. Consideration occurs when one party in a contract offers or agrees to do something and the other party accepts. b. This means that it is a riskier purchase than the purchase of a franchise. Macy argues that its primary function is to guarantee loans. he can ensure that the new stores are operated according to his own standards through the franchise agreement. c. A. One of the more interesting ratios for franchising is the Location Selection Ratio or Sales/Costs ratio. firms that have complex internal systems to execute, that draw from a limited pool of qualified employees, or require significant amounts for training to assure franchisee competence in delivery of the system's products or services. Franchisors must have a high-quality support There is a higher likelihood of success. Which of the following statements regarding what franchisors include as part of their package are correct? As a class assignment, business students were told to prepare a business plan for a business they would like to own. A) Fully understanding the FDD of the franchise company limits placed on the franchisee regarding what it can do with the product and its production. b. d. Changes in leasehold conditions. b. b. The majority of small businesses are managed by, Hamilton has wanted to start a business of his own since he was a small child. What are the typical payments paid by a franchisee to a franchisor? Which of the following is NOT one of the four P's of selling? Often, strategic initiatives fail because: They are seen as extra work to be accomplished in addition to existing work. Intro to Business- Chapter 5 Flashcards | Quizlet True or false: A disadvantage of buying an existing business is that operating processes and policies have already been established. WebWhat is usually required for a franchisor to terminate a franchise? If he seeks the average-size SBA-guaranteed business loan he will borrow, Money invested in small, new, or struggling firms that have the potential to become very successful is called. plant If a franchise system is struggling, not achieving long-term success. Ability to achieve a good golf score while making sales to prospective franchisees. The _________ is the entrepreneur who buys the franchise from the ________. c. Which of the following statements is true about franchising? C) Operations Good cause B. One of the advantages of buying a franchise is that the purchaser has access to a proven business system. b. Entrepreneurs should asses their skills and interests. all of the above, Coming up with a unique good or service is a _____approach, while adapting something that is currently on the market or extending the offering to an area where it is not presently available is a(n) _____approach. a. E) Very few franchisors do inspections. WebThe purchaser of a franchise is called the franchisor. goodwill NOT: to generate data which can be used to accumulate working knowledge c. The Clayton Act makes it illegal for competitors to get together and set prices on the products or services they sell. A franchise is a business that markets a product or service developed by a franchisor, typically in the manner specified by the franchisor. ENT 3172 Chapter 1-12 Terms Flashcards | Quizlet The business arrangement, otherwise called a franchise opportunity, has three major components that constitute the essence of what is generally referred to as a franchise. Which of the following activities at the franchised unit should be the center of attention? The owner may be in trouble with suppliers. Actions by franchisors to void the contracts of franchisees in order to sell the franchise to someone else and collect an additional fee. Bringing two or more franchise brands together within a single enterprise. The exercise of reasonable care in the evaluation of a business opportunity. B. D) All of the above are types of franchising. The implementation of marketing mix variables in franchise channels is less fluid and flexible than in conventional channels. success will cause another outlet to be opened nearby. whichever method the franchisor deems appropriate for a their particular business. The franchise with the most outlets in the United States is. This desire is referred to as. C. Lodging. Which of the following is not a disadvantage of a major franchise? d. The most common form of business ownership in the United States is the corporatio. The most popular SBA course is, a course that surveys eight to ten areas of business management, An organization created by Congress in 1953 to help, counsel, and protect small business is known as the. Much franchise litigation has arisen over termination of owners. What are they? B. symbols and logos. c. a. control exercised by the franchisor c. Which of the following is not a type of franchising according to the text?
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As a part of Jhan Dhan Yojana, Bank of Baroda has decided to open more number of BCs and some Next-Gen-BCs who will rendering some additional Banking services. We as CBC are taking active part in implementation of this initiative of Bank particularly in the states of West Bengal, UP,Rajasthan,Orissa etc.
We got our robust technical support team. Members of this team are well experienced and knowledgeable. In addition we conduct virtual meetings with our BCs to update the development in the banking and the new initiatives taken by Bank and convey desires and expectation of Banks from BCs. In these meetings Officials from the Regional Offices of Bank of Baroda also take part. These are very effective during recent lock down period due to COVID 19.
Information and Communication Technology (ICT) is one of the Models used by Bank of Baroda for implementation of Financial Inclusion. ICT based models are (i) POS, (ii) Kiosk. POS is based on Application Service Provider (ASP) model with smart cards based technology for financial inclusion under the model, BCs are appointed by banks and CBCs These BCs are provided with point-of-service(POS) devices, using which they carry out transaction for the smart card holders at their doorsteps. The customers can operate their account using their smart cards through biometric authentication. In this system all transactions processed by the BC are online real time basis in core banking of bank. PoS devices deployed in the field are capable to process the transaction on the basis of Smart Card, Account number (card less), Aadhar number (AEPS) transactions.