How can a prospective franchisee evaluate a franchise opportunity? Explain.
Answer to relevant QuestionsIn evaluating whether or not to buy a franchise operation, the potential investor should ask a series of questions. What questions should the potential investor ask about the franchisor, the franchise, the market, and the ...1. Is anything unique about Chris’s idea? Explain.2. What is the first thing he should do to follow up on his idea? Explain.3. When this is done, what else should Chris do? Outline a general course of action for him.An entrepreneur is in the process of contacting three different venture capitalists and asking each to evaluate her new business proposal. What questions should she be able to answer about each of the three?In your own words, what is a patent? Of what value is a patent to an entrepreneur? What benefits does it provide?In your own words, what is a trademark? Why are generic or descriptive names or words not given trademarks?
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