Answer the following questions 1 through 6 using a minimum of 600 words total in your paper (100 words addressing each question).
- Q1: What is franchising?
- Q2: Describe the three types of franchising and give an example of each
- Q3: Discuss the advantages and disadvantages of franchising for the franchisee.
- Q4: Why might an independent entrepreneur be dissatisfied with the franchising arrangement?
- Q5: Fran Lubbs says “Follow the system. It’s one of the reasons you bought the franchise, don’t try to change it, break it, or fix it.” Do you agree with her? Explain.
- Q6: What steps should a potential franchisee take before investing in a franchise?
Please ensure you “discuss” and “describe” as required, providing a clear understanding of the material! You are graded on your critical thinking skills and understanding of the concepts.
Grammar, spelling, and punctuation are expected to be correct and professional, and references need to be fully and adequately APA formatted.
Scarborough, N. M. (2019). Essentials of entrepreneurship and small business management (9th ed.). Upper Saddle River, NJ: Pearson. ISBN 13: 9780136879664