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Chapter 8 section 4

Chapter 8 section 4. Nicole, Caillaux J ilmar , A ltamirano. Business Franchise. A semi-independent business that pays fee to a parent company in return for the exclusive right to sell a certain product or service in a given area. Examples of a business franchise is, Wendy's and McDonalds. .

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Chapter 8 section 4

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  1. Chapter 8 section 4 Nicole, Caillaux Jilmar, Altamirano

  2. Business Franchise • A semi-independent business that pays fee to a parent company in return for the exclusive right to sell a certain product or service in a given area. • Examples of a business franchise is, Wendy's and McDonalds.

  3. Royalty • A share of earnings given as payment. • Royalties are typically a percentage of gross or net sales derived from use of an asset or a fixed price per unit sold of an item. • Ex. A IHOPs franchise pays a percentage of their net sales per month, some franchises pay by the year or some every quarter

  4. Cooperative • A business organization owned and operated by a group of individuals for their mutual benefit. • Ex. A farm which has several different farmers who each produce a certain amount of eggs, which then sells to different companies under one name.

  5. Consumer Cooperative • Retail outlet owned and operated by consumers.

  6. Service Cooperative • Cooperative that provides a service, rather than a good

  7. Producer Cooperative • Agricultural marketing cooperative that helps members sell their products.

  8. Nonprofit organization • Institution that functions much like a business, but does not operate for the purpose of generating profits. • Ex. Bailey House, Boys and Girls Club of America, and Operation Smile

  9. Professional Organization • Nonprofit organization that works to improve the image, working conditions, and skill levels of people in particular occupations.

  10. Business Association • Nonprofit organization that promotes collective business interests for a city, state, or other geographical area, or for a group of similar businesses.

  11. Trade Association • Nonprofit organization that promotes the interests of a particular industry.

  12. Advantages and Disadvantages of a Franchise • Advantages: management training, support, and standardized quality. • Disadvantages: high franchising fees, royalties, strict operating standards, purchasing restrictions.

  13. Quiz • 1. define business franchise? • 2. compare business association with trade association • 3. what is an example of a business franchise? • 4.in your own words define cooperative • 5. what are some advantages and disadvantages of a franchise?

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