Questions from General Entrepreneurship

Q: Explain how a franchise could be considered a partnership. What makes

Explain how a franchise could be considered a partnership. What makes a franchise agreement simpler than a partnership that you would start with another individual?

Q: What is the difference between a franchise, a franchisee, and

What is the difference between a franchise, a franchisee, and a franchisor?

Q: What do you think will be the growth areas (in products

What do you think will be the growth areas (in products, services, and geographic areas) for franchises in the near future?

Q: What are some arguments for buying an established business rather than starting

What are some arguments for buying an established business rather than starting one yourself?

Q: Should one ever consider purchasing a presently unsuccessful business (that is

Should one ever consider purchasing a presently unsuccessful business (that is, a business with relatively low or no profits)? Explain.

Q: Discuss the advantages of dealing through a business broker. What precautions

Discuss the advantages of dealing through a business broker. What precautions should one take when dealing with a business broker?

Q: What are the positives and negatives of searching for a business for

What are the positives and negatives of searching for a business for sale via an online site?

Q: Explain the term creative destruction.

Explain the term creative destruction.

Q: When buying an established business, what questions should you ask about

When buying an established business, what questions should you ask about it? From whom might you seek information about the business?

Q: What factors warrant special attention in appraising a firm’s (a

What factors warrant special attention in appraising a firm’s (a) inventory? (b) equipment? (c) accounts receivable?