Franchises: Opportunities and Challenges


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question 1 of 3

Which of the following best describes a franchise?

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1. What can be a disadvantage associated with the use of a franchise?

2. Identify the hindrance to buying a franchise.

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About This Quiz & Worksheet

What are the advantages and disadvantages of owning a franchise? This quiz and worksheet is designed to test your knowledge of what a franchise is and the challenges associated with managing such a business.

Quiz & Worksheet Goals

In these assessments you'll be tested on the following:

  • Definition of franchise
  • What governs the relationship between a franchisee and franchisor
  • Advantages of a franchise
  • Typical cost of a franchise to a franchisee
  • Challenges related to taking a franchise global

Skills Practiced

This worksheet and quiz will allow you to test the following skills:

  • Reading comprehension - ensure that you draw the most important information regarding the advantages, disadvantages, and challenges of franchises
  • Critical thinking - apply relevant concepts to examine information about franchises in a different light
  • Interpreting information - verify that you can review information regarding franchise costs and interpret it correctly
  • Information recall - access the knowledge you've gained regarding the globalization of franchises

Additional Learning

To learn more about this subject, review the accompanying lesson called Franchises: Opportunities and Challenges. This lesson covers the following objectives:

  • Define franchise, franchisor, and franchisee
  • Explain the advantages of franchises
  • Detail the disadvantages of franchises
  • Reveal the lack of diversity in franchising
  • Discuss franchise globalization