Franchising Is a Popular Method of Expansion Used in Many

question 11

Essay

Franchising is a popular method of expansion used in many business operations, including hotels, restaurants, and travel agencies.
a)Define the term franchise.
b)Summarize four advantages and disadvantages to owning a franchise.
c)Would you choose this business format as part of your future career plans? Why or why not? Explain your answer.
d)What is an FAC and would you consider joining one? Explain your decision.

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Definitions:

Cognitive Skills

Abilities related to the process of knowing, including aspects such as awareness, perception, reasoning, and judgment.

Robert Siegler

An American psychologist known for his work in children's cognitive development, particularly in the areas of mathematical understanding and strategy choice.

Recognition

The action or process of acknowledging or honoring someone's status, achievements, rights, or existence, often as a form of validation or respect.

Recall

The cognitive process of retrieving information or memories from one’s past, unaided by explicit cues.