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Figure 8-5
-What type of diagram is shown in the accompanying figure?
Disadvantages
Negative or less favorable aspects of a situation, plan, or decision.
Franchisee
A business owner who operates a single franchise outlet, having bought the rights from the franchisor to use the business model and branding.
Franchising
A business model where a business owner (franchisor) licenses trademarks and methods to an independent entrepreneur (franchisee) to conduct business under the franchisor's name.
Business Plan
A formal written document that outlines the strategy, goals, financial projections, and operational guidelines for starting and running a business.
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