Question

Which of the following ways of becoming a small business owner involves getting

the right to use a brand name and sell its goods or services.
A)franchise
B)starting from scratch
C)building upon a hobby
D)family business

Answer 1

To become a small business owner through the use of a brand name and rights to sell its products or services, one would enter into a A. franchise agreement.

Step-by-step explanation:

The way of becoming a small business owner that involves getting the right to use a brand name and sell its goods or services is known as a franchise. In a franchise, the franchisee purchases the rights to start a business based on a model designed by the franchisor. This often includes receiving training, supply chain support, and help in setting up operations. In this business model, the franchisee pays an initial franchise fee, along with ongoing royalty fees, to the franchisor for the benefits received.