Franchise Activity (30pts)
Part 1 (8pts, 2pts ea.)
Read the Intro and Activity 1 in the article "Business Ownership: The Franchise Option" (see file below). Answer the following questions in complete sentences:
1. What is a franchise?
2. In year 2000, how many franchises were there in the US?
3. What percent of US retail sales are franchises?
4. What are the two general types of franchises?
Part 2 (10pts, 1pt ea. pro/con)
Read both Activity 2 (Business Ownership) and the article "Should You Buy a Franchise" (see file below). Draw two columns: Pros/Cons on your paper. Give five pros and five cons for buying a franchise.
Part 3 (12pts, 2pts ea.)
Go to https://www.entrepreneur.com/franchises
Select a franchise you would like to do. Answer the following:
1) Name of Franchise
2) Category (Fast Food, Automotive, etc)
3) Answer the following questions in complete sentences:
Do the franchise and its brand have a reputation for quality?
Is the franchiser willing and able to help you succeed?
Is there a demand for the product or service you will be selling?
Who are your competitors and will you be able to compete with them?