Question: JOURNALING FOR SUCCESS
Discovery statement: One of the objectives in this chapter was to make you aware of the advantages and disadvantages of owning a franchise.
Assignment: 1. Assume that after evaluating your skills, experience, and financial situation, you have determined to purchase a franchise in your community. Identify and describe sources where you can obtain information on what the franchise package should contain.
2. List at least five reasons why you should choose franchising rather than starting a new, independent business.
3. Identify issues you need to be aware of as a franchisee.
4. Make a list of possible advantages and disadvantages of the franchise you are considering. What are your rights and your obligations as a franchisee?