Franchise Study guides, Revision notes & Summaries

Goal of waiting line management Balance the cost paid by the customers (time) with the cost paid by the company (money paid to maintain the system) Parts of a waiting line system Input Source Waiting Line Service Facility 4 Managerial Consideration in Queues customers waiting line employees service facilities Basic waiting line terminology -queue*: line. -channel*: line. refers to the number of lines available at each step. -phase*: a single step in a process....

1. A local business is looking to become a franchise. The company wants to predict the number of franchises, F, given a certain number of years, Y. This prediction is modeled by the function F( Y). What can be concluded by F(5) = 10?: In 5 years, there will be 10 open stores. 2. A bank begins a marketing campaign to increase its number of customers. Each month, all new customers are put into a drawing. One customer then receives a $50 credit in a checking account.The amount of money given awa...

Flexibility - Answer - Ability to adapt, willingness to change Courage - Answer - Takes risks in spite of possible losses Empathy - Answer - Sensitive to thoughts and feelings of others What are three characteristics of entrepreneurs? - Answer - Creativity, Determination, Enthusiasm After a self-assessment, a potential entrepreneur has learned that she has a very low risk tolerance. Based upon this finding, which approach might be less stressful for the entrepreneur to have her own b...

MGT 459 Franchise Management Midterm

Who is the creator of the Orangetheory Fitness workout? - Ellen Latham Which of the following is one of the Orangetheory values? - Innovation According to the presentation titled 'The Why,' the phrase, "lead, support and inspire the orange passion in our franchise partners to achieve superior results" is the Orangetheory Fitness __________? - Internal Mission The phrase, "to be the trusted global leader of innovative heart rate based interval training" is the Orangetheory Fitness ...

Sole Proprietorship - Answer-Simplest business form; owner is the business. Owner reports business income on personal income tax return and is legally responsible for all debts and obligations incurred by the business. 2/3 of all U.S. businesses are formed in this way. Sole Proprietorship Advantages - Answer-•Owner receives all profits; pays only personal taxes •Easy to create; less costly •Flexible decision making Sole Proprietorship Disadvantages - Answer-•Owner responsible for a...

Who are the founders of Blaze? - Rick and Elise Wetzel Who is our Executive Chef? - Brad Kent When did the first Blaze Pizza open? The second? - The first opened in August of 2012 in Irvine, California The second opened in October of 2012 in Pasadena, California What is Blaze "all about"? - Individuality, Quality, Speed, and Fire What is meant by the term "Franchise Concept"? - Corporate sells the rights for restaurants to use their menu and concept. What makes Blaze a Franchise Conc...

Chapter 3 The Balance Sheet and Financial Disclosures True/False Questions 1. The balance sheet reports a company's financial position at a point in time. Answer: True Level of Learning: 1 Easy Learning Objective: 03-01 Topic Area: Balance sheet–Usefulness-Limits-Elements Blooms: Remember AACSB: Reflective thinking AICPA: BB Critical thinking AICPA: FN Measurement 2. A company’s market value is generally less than its book value. Answer: False Level of Learning: 1 Easy Learning...

TX-Brokerage (SAE), Texas Real Estate Brokerage 30 Hours 2019, texas sae real estate brokerage, Real Estate: Brokerage Final Exam Questions/Answers, Real Estate: Practice Exam (Questions/Answers), Real Estate: Agency Exam Questions/Answers, texas sae... The _____ is required to ascertain that Brokers are aware of all of their responsibilities. Texas Real Estate Commission The _____ course is to address the regulatory aspects of the management, operation and supervision of a real estate brok...

MNE2601 Assignment 4 (DETAILED ANSWERS) Semester 1 2024 - DISTINCTION GUARANTEED Answers, guidelines, workings and references .................... 1. Draw up an industry and market feasibility for your chosen business/envisaged business. You need to include the following in your answer. Use section 3.3 in your prescribed textbook as your guideline. • Type of industry - 1 mark • Why it is attractive - 1 mark • Nature of competition - 3marks • Profitability of the industry - 10 marks ...