Buying/Selling a Business
What is a Franchisee & what is a Franchisor
Franchisee- The buyer or person buying the business
Franchisor- The seller or person selling the business
What is a Green Business?
The first step in the entrepreneurial process is to ______________.
Recognize an opportunity
What are the two ways to buy an existing business?
Acquire the business or through a franchise
What is a home-based business?
A business ran from the owner's home.
DOUBLE POINTS (Wildcard Question)
What is the first step you must do when going into business?
Analyze the advantages & disadvantages of becoming an entrepreneur.
Forming a partnership with another company is called a __________.
Strategic alliance
What is a fully online business?
A business that strictly sells it's products on the internet.
One way to identify an opportunity is to _________________.
study current trends
What is a Franchise?
A legal agreement to begin a new business in the name of a recognized company.
What is a service business?
Businesses that provide intangible things that enhance our lives.
What is outsourcing?
Contracting and paying other companies to complete certain services or tasks for your company.
One step beyond outsourcing is to _______________________.
Form a partnership with another company.
What is a Hybrid Business?
A business that operates both physically and online.
What are the 4 current business trends?
-A.I
-Environmental & sustainable business practices
-Remote & hybrid work
-Outsourcing