Buying a franchise prevents an entrepreneur from making many mistakes and avoids the most inefficient type of learning-trial and error.

Question

Quizplus · Accepted Answer

When an entrepreneur buys a franchise, they receive training and support from the franchisor. The franchisor has a proven business model, which can prevent the entrepreneur from making many mistakes and experiencing trial and error. Therefore, buying a franchise can help avoid the most inefficient type of learning.

Buying a Franchise Prevents an Entrepreneur from Making Many Mistakes