You see a potential location for your business, what factors would you consider in deciding whether the location would be a good fit?

Question 24 options:

a. type of business

b. community demographics

c. state and local laws and regulations

d. all of the above

Question 25 (2 points)

What are two fees paid always paid by the franchisee to the franchisor?

Question 25 options:

a. rent and insurance

b. upfront and ongoing revenues

c. legal and professional

d. inventory

Question 26 (2 points)

What is not an advantage of owning a family business?

Question 26 options:

a) Positive impact on family values

b) No outside shareholders

c) diverse pressures

d) attractiveness to the individual

Question 27 (2 points)

Family businesses should have a succession plan in place. Which should not be considered when deciding on a plan?

Question 27 options:

a) Considering asking advice from organizations such as the Small Business Administration

b) Bring stakeholders in the family together and agree on a plan before the need for succession

c) Whether someone in the family can be groomed as the company "heir"

d) Nepotism