Question 1
A ________ is a legally binding contract that defines the relationship between a franchisee and a franchisor.
◦ franchising prospectus
◦ franchise agreement
◦ business agreement
◦ franchisor's declaration
◦ contractual understanding
Question 2
A business plan indicates that investors will be able to sell their investment through a public stock offering, or participate in a buyback of the investors' interest. This is an example of which of the following elements of a business plan?
◦ Start-up schedule
◦ Operations plan
◦ Exit strategy
◦ Marketing strategy
◦ Target market