In a(n) __________ system an individual or firm contracts with a parent company to set up a business or retail outlet.
A)administered system
B)franchise system
C)vertically integrated chain
D)retail-sponsored cooperative
E)corporate system

Question

Quizplus · Accepted Answer

The franchise system involves an individual or firm entering into a contractual agreement with a parent company to set up a business or retail outlet using the parent company's established name, brand, and business system. The parent company provides support and guidance to ensure consistency across all franchise locations.

In A(n) __________ System an Individual or Firm Contracts with a Parent