Show:
What is a franchise?
Chose the best option (a, b, c)
Your best guess !
Terms
Local Franchises/Facts
100
What is a franchise?
A franchise is type of business when a person buys the right to a name to sell a product/service.
100
What are one of the requirements to run a franchise? a) You have to satisfy legal documents needed b) You have to graduate from harvard c) You dont have to have lots of money
a) satify legal documents needed
100
How long do you think the average franchise contract is? (closest team will get points)
The average contract length is 10 years.
100
What is a royalty?
An on going fee paid to the franchisor. Often a percentage of the sales.
100

Name one local franchise in Valley Center.

Sonic, Subway, Pizza Hut

200
What do you need to buy a franchise?
You need lots of money.
200
The franchisor is not allowed to : a) allow the individual (franchisee) to run a location of their business b) open another franchise near the franchisee's (your) franchise
b) Open another franchise near the franchisee's franchise.
200
What is the top franchise industry today?
Fast food franchises
200
What is a franchisee?
The company or person who contacts the franchisor for the right to operate the franchise in return for payment of a initial fee and or on going royalty.
200

Name a "classic example" of a food franchise. 

McDonalds

300
What do you need to run a franchise?
The appropriate management skills.
300
What happens before you can buy the franchise? a) You have to go to a special school to learn about franchises b) You have dinner with the franchisor c) You get a backround check
c) You get a backround check
300
What is franchise disclosure document?
A legal document which is presented to franchise buyers in the pre sale disclosure process.
300
What is franchising?
A way of doing business in which the franchisor gives the franchisee the right to offer, sell or distribute goods.
300
How much money do you think franchises make just in the usa? (the closest team will get the points)
800 billion dollars
400
How do you know the franchise will bring in money?
If it's a recognizable company.
400
How much does it cost do run a franchise? a) One millon+ b) $501,576.27 c) Costs vary
c) Costs vary
400
How much are royalties? (closest team will get points)
Royalties can be up to 3-6%.
400
What is a franchisor?
The company or individual that owns or controls the trade mark.
400

What is the most popular industry of franchise today?

Food franchises

500
Name one agreement that is needed to open a franchise.
Franchise agreement, Franchise disclosure document
500
What is something the company (franchisor) will provide for you? a) Money b) Customers c) None of the above, state your own answer
c) None of the above, : Packaging, logos, advertising, training
500
How often does a franchise open? (Closest team will get points)
A franchise opens aprox every 8 minutes
500
What is a start up cost?
The amount of money it costs to open the franchise.
500

Name a retail franchise (not food related)

7 Eleven, ACE, UPS, Snap-On Tools, Great Clips