Small Businesses, Entrepreneurship and Franchises
15 important questions on Small Businesses, Entrepreneurship and Franchises
What 3 forms of industry do businesses generally fall in?
- Service industries
- Production industries
What are distribution industries?
What are service industries?
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
For my 1st exam I got a C. Then, I started looking for ways to learn better and I came across Study Smart. Since then I have scored a A+, A, A- and another A. I highly recommend it to everyone who wants to hear it. I am so happy with it!!
I was struggling to finish all my first-year subjects for 3 years. Then I discovered Study Smart, which helped me to finish all of them within 3 months.
Because of StudySmart, things are going well in many ways. Before, I always had study stress and no time for anything. Now I feel calm and confident (because of the program). I used to score a B, now I usually score an A or A+.
Hey Chris, I really want to thank you very much for developing the platform, I usually got around C for my exams, now I scored an A+, an A and a A- !!
Since using Study Smart, my average has increased significantly. I even completed a statistics course with a A+ while I'm bad at statistics. I took on extra courses this year, because of Study Smart. Thanks so much!
Ever since I started studying with StudySmart I passed all my exams !!! No more re-sits!! At first, I was happy with a pass and now I only get good grades. Many thanks!
I aced all the courses I studied with Study Smart. For law, I first scored a D, and now an A! I’m 100% sure that I’ll pass all the courses I study with Study Smart.
I always thought I studied well. My grades were fine. I could never have imagined that applying these study skills would have such a huge and direct impact on my grades, my speed and the pleasure I have in learning.
For the first time, I finally feel totally confident about the way I learn. I have the perfect overview and make great progress in terms of speed and the grades I get. Thanks, Chris!
I immediately started to enjoy learning again, and my grades soared. All of a sudden, everything went better. I highly recommend Study Smart to all students..
Being able to create my materials online made the process of studying so much smoother and quicker. I no longer have to spend a huge amount of my time on creating my summaries.
At first, my notes were a mess. Now I use Study Smart to take my notes in a perfectly structured way. It helps me to save a lot of time and do other things I enjoy.
Students that study with Study Smart get better grades. The system applies all the learning methods in such a way that both well-performing students and students who struggle perform much better.
Hi Chris, I would like to thank you very much. Last year I scored C on a course, and this year I got an A+ thanks to your method! Thank you very much!
The largest effect is that my child is more enthusiastic about school! Every parent wants their children to be happy at school, Study Smart made it happen.
In high school, I failed several exams, and that has really changed now. I actually needed this tool very much back then. Since I started studying with StudySmart, I haven't had any D's. My average score is now an A and those are results I would have never had in the past
With my old method, I passed only 3 out of 8 courses. Since I started taking my notes digitally in Study Smart, I have passed all my courses on the first try. For me, StudySmart takes away the stress of wondering if I will pass or not.
Thanks to StudySmart, I passed all my exams, and with better grades than before! On top of that, I have mastered a very good study method now, which I am confident will help me earn my degree.
What is entrepreneurial spirit?
What personal factors in are included in small-business success?
- Desire to determine own destiny
- Willingness to find and accept challenges
- Family background (research shows that people who have family with own business are more likely to start their own)
- Age (mostly around 24-44 years old)
In what ways do small businesses add to the economy?
- The provide employment
- They provide competition
- They fill needs of society and other businesses
What are the advantages of small businesses?
- Ability to adapt to change (being own boss means not having to ask permission to change things)
- Simplified record keeping (no large amount of tax work etc.)
- Independence
- Other advantages (sole proprietorships, information secrecy, etc.)
What are the disadvantages of small businesses?
- Limited potential (e.g. hairdresser will probably not grow his business past that particular skill)
- Limited ability to raise capital (financing often comes out of own pocket, often difficult to get loans, etc.)
What is a franchise?
What is a franchisor?
What is a franchisee?
What 3 categories of franchising are there?
2. A producer licenses distributors to sell a given product to retailers (e.g. soft drink industry, Coca Cola allows independent bottlers to sell to retailers in their name)
3. A franchisor supplies brand names, techniques or other services instead of a complete product.(e.g. Fast food franchises)
What are dual-branded franchises?
What are the advantages of franchising for the franchisor?
- Can still enforce company standards through made agreement
- Franchisees are often very motivated to succeed --> higher royalties for the franchisor
What are the advantages of franchising for the franchisee?
- Famous brand is guaranteed to bring in customers as soon as they open
- In case of trouble, business franchise often provides free advice
- Lots of advertisement opportunity, and if bought together with other franchisees, also cost-saving.
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
