Test your basic knowledge |

Franchise Basics

Instructions:
  • Answer 30 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. What governs franchisee/franchisor relationship






2. What do franchisees earn money on






3. Successful sale






4. 10 day and 5 day rule






5. What do franchisors earn his money on?






6. Options when agreement ends






7. Considerations for franchising






8. Where to grow franchise






9. Average length of franchise agreement






10. What makes a business replicable






11. Do 10 day and 5 day rule run separately






12. What has replaced ufoc






13. Points negotiated in contract






14. 4 items on cover page






15. Who can be a multiple stakeholder






16. Not to franchise internationally

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17. How do you find right partner






18. 5 considerations prior to franchising internationally






19. How to evaluate financial potential






20. Purpose of ufoc/fdd






21. 6 ways to structure international franchise system






22. Approach agreement renewal






23. 3 ways to ensure correct financial reporting






24. Time good or bad to sell






25. Goal of harvesting






26. Evaluate potential franchisees






27. Profile of franchisee






28. Key items that go into valuing






29. What does a good clear franchise agreement articulate?






30. Typical ways harvesting occurs