Your friend Bill comes to you for advice because of your amazing business prowess. He would like to start his own business, but he is concerned about the high failure rate. If possible, he would like to mitigate his risk somewhat. He also has limited capital and not much business experience. You recommend that Bill consider opening a _______________, but you warn him that one disadvantage to doing so is that he would have _____________.

Question

Quizplus · Accepted Answer

The best choice would be to recommend opening a franchise. Franchises offer a proven business model, training and support, and a recognizable brand name, which can all help mitigate the risk of failure. However, one disadvantage of opening a franchise is that the franchisee has less control over the operations of the business because they must adhere to the franchisor's standards and guidelines.

Your Friend Bill Comes to You for Advice Because of Your