Definitions
a business whereby the owner licenses its operations—along with its products, branding, and knowledge—in exchange for a fee
Franchise
is a regular payment made to the franchisor on a yearly, monthly, weekly, or daily basis by the franchisee.
Royalty Fee
Franchise
This is the process that which the music industry or artist makes recorded music available to consumers
Distribution
business is one in the same as the owner
sole proprietorship
is the owner of the franchise brand and business system.
Franchisor
the way a brand tell their users how they feel about their message.
Tone
Lily and Reggie bought the license to Mr. T's Baked Chicken and More. What are they?
CDs, Cassette Tapes, and Vinyl are an example of what type of music distribution?
Physical Distribution
business with two or more owners
general partnership
is a person or group who licenses the right to carry out business under a particular franchise trademark.
Franchisee
Refers to the pictures that social media franchises post online
Images
Mr. T sold the license to Mr. T's Baked Chicken and More to Lily and Reggie. What is he called?
Franchisor
Apple Music, Spotify, Pandora are examples of what types of music distribution
Digital Distribution
advantages of a Sole P
owner control business
the simplest form of ownership
lowest cost to form
is the money required for a franchisee to open, setup, and operate a franchise business in a particular location for 3 months or more.
Initial Investment
refers to how franchises respond to customers or other users on social media
Responses
This restaurant has the most franchise locations in the world
Subway
BMI, ASCAP, SESAC are entities that collect royalties on behalf of their clients
advantage of Gp
more cash
new perspective
bridging the gap of knowledge and expertise
is the fee that needs to be paid to the franchisor immediately after signing the franchise agreement.
Franchise Fee
anything that someone has posted or shared with others.
Content
Name a Benefit a Franchise
This is a platform that TikTok created that allows music artist to directly upload their music so that users can use them on the TikTok app along with Apple Music and Spotify
SoundOn
What is are some factors for a legal structure?
management taxation expense formality liability and risks