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What Is Franchising? - Definition & Explanation Video

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

According to this lesson, what is the definition of a franchise?

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1. Which of the following is NOT an example of a franchise opportunity listed in this article?

2. Which of the following fees are NOT associated with a franchise?

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About This Quiz & Worksheet

This quiz/worksheet combo tests your understanding of the basic formula for franchising and the pros and cons of this type of business.

Quiz & Worksheet Goals

These assessments focus on the following:

  • Definition of a franchise
  • Examples of franchises
  • Types of fees generally involved with a franchise
  • Primary concerns of a franchisor
  • Relationship between a franchisee and franchisor

Skills Practiced

  • Knowledge application - use your understanding of franchising to describe this type of business arrangement
  • Reading comprehension - ensure that you draw the most important information from the related marketing lesson
  • Information recall - access what you've learned regarding why a franchisor retains some control over operational decisions

Additional Learning

To learn more, review the accompanying lesson titled What Is Franchising? - Definition & Explanation. Upon successful completion of the lesson, you'll have mastered the following learning objectives:

  • Understand the structure of a franchise
  • List the types of obligations that typically come with a franchise
  • Explain the priorities of a company that sells franchises
  • List the benefits of a franchise for small business owners
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