joey has opened a restaurant. he paid a large amount of money up front to get the business started. he only…
joey has opened a restaurant. he paid a large amount of money up front to get the business started. he only sells products that are licensed by someone else. what type of business opportunity is joey a part of?\nnetwork marketing\nlicensing\ndealership\nfranchise
Answer
Brief Explanations:
Joey pays upfront and sells licensed - products. Licensing involves getting permission to use someone else's intellectual property. In franchising, a franchisee pays an initial fee and ongoing royalties to use a franchisor's business model and brand, and sells products or services under that brand. Since he only sells licensed products and paid a large amount upfront to start the business, it is a franchise. Network marketing involves selling products through a network of distributors, and dealership is more about being an authorized seller of a particular product line without the full - scale business model replication like in franchising.
Answer:
Franchise