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. 5 considerations prior to franchising internationally






2. How to evaluate financial potential






3. 3 ways to ensure correct financial reporting






4. How do you find right partner






5. Options when agreement ends






6. 4 items on cover page






7. Do 10 day and 5 day rule run separately






8. Goal of harvesting






9. Profile of franchisee






10. Typical ways harvesting occurs






11. Where to grow franchise






12. Successful sale






13. Not to franchise internationally

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14. What do franchisees earn money on






15. Points negotiated in contract






16. Approach agreement renewal






17. What makes a business replicable






18. Average length of franchise agreement






19. 6 ways to structure international franchise system






20. What governs franchisee/franchisor relationship






21. 10 day and 5 day rule






22. Time good or bad to sell






23. What do franchisors earn his money on?






24. Evaluate potential franchisees






25. Purpose of ufoc/fdd






26. Considerations for franchising






27. What has replaced ufoc






28. Key items that go into valuing






29. What does a good clear franchise agreement articulate?






30. Who can be a multiple stakeholder