answer the following multiple - choice questions. circle the best answer.\n1. which of the following is the…

answer the following multiple - choice questions. circle the best answer.\n1. which of the following is the main advantage of buying an existing business compared to starting a new one?\na) it requires no upfront investment\nb) it already has a customer base and established systems\nc) it offers unlimited creativity without restrictions\nd) it guarantees long - term success\n2. a student is interested in opening a subway restaurant in their town. which business path are they pursuing?\na) starting a new business\nb) buying an existing business\nc) purchasing a franchise\nd) entering into a partnership\n3. which of the following is a drawback of purchasing a franchise?\na) difficulty attracting customers\nb) high risk of business failure\nc) less independence in decision - making\nd) no training or support provided\n4. if an entrepreneur wants total creative control over branding, menu, and prices, which option best fits their goal?\na) start a new business\nb) buy an existing business\nc) purchase a franchise\nd) none of the above\n5. which business model typically has the lowest risk of failure?\na) new startup\nb) existing business purchase\nc) franchise\nd) partnership with a friend\n6. which of the following is the biggest challenge when starting a new business?\na) limited creativity\nb) attracting an initial customer base\nc) following franchisor rules\nd) inheriting financial problems\n7. which option is best for an entrepreneur who wants immediate brand recognition and training?\na) start a new business\nb) buy an existing business\nc) purchase a franchise\nd) work as a manager in a company\n8. which of the following is the best example of seasonal demand?\na) students buy takis every day at lunch

answer the following multiple - choice questions. circle the best answer.\n1. which of the following is the main advantage of buying an existing business compared to starting a new one?\na) it requires no upfront investment\nb) it already has a customer base and established systems\nc) it offers unlimited creativity without restrictions\nd) it guarantees long - term success\n2. a student is interested in opening a subway restaurant in their town. which business path are they pursuing?\na) starting a new business\nb) buying an existing business\nc) purchasing a franchise\nd) entering into a partnership\n3. which of the following is a drawback of purchasing a franchise?\na) difficulty attracting customers\nb) high risk of business failure\nc) less independence in decision - making\nd) no training or support provided\n4. if an entrepreneur wants total creative control over branding, menu, and prices, which option best fits their goal?\na) start a new business\nb) buy an existing business\nc) purchase a franchise\nd) none of the above\n5. which business model typically has the lowest risk of failure?\na) new startup\nb) existing business purchase\nc) franchise\nd) partnership with a friend\n6. which of the following is the biggest challenge when starting a new business?\na) limited creativity\nb) attracting an initial customer base\nc) following franchisor rules\nd) inheriting financial problems\n7. which option is best for an entrepreneur who wants immediate brand recognition and training?\na) start a new business\nb) buy an existing business\nc) purchase a franchise\nd) work as a manager in a company\n8. which of the following is the best example of seasonal demand?\na) students buy takis every day at lunch

Answer

Brief Explanations:

  1. Buying an existing business has an established customer - base and systems, which is a major advantage over starting new. Starting new requires building these from scratch.
  2. Subway is a well - known franchise brand, so opening a Subway restaurant means purchasing a franchise.
  3. Franchisees have to follow the franchisor's rules and guidelines, which limits their independence in decision - making.
  4. Starting a new business allows an entrepreneur to have full creative control over branding, menu, and prices as they are building the business from the ground up.
  5. Franchises typically have a lower risk of failure because they are part of an established brand with a proven business model, training, and support.
  6. Attracting an initial customer base is a significant challenge when starting a new business as there is no pre - existing customer following.
  7. Franchises offer immediate brand recognition as they are part of a well - known brand, and franchisors usually provide training to franchisees.
  8. No options for question 8 are provided, so it cannot be answered.

Answer:

  1. b) It already has a customer base and established systems
  2. c) Purchasing a franchise
  3. c) Less independence in decision - making
  4. a) Start a new business
  5. c) Franchise
  6. b) Attracting an initial customer base
  7. c) Purchase a franchise
  8. No answer (options not given)