1. One of the main disadvantages of buying a franchise is that you may end up

A. choosing a poor location.
B. hiring a large staff.
C. paying too much for operating costs.
D. feeling like an employee.
D?

2. After you open your new business is not the best time to
A. use your imagination and be creative.
B. build a loyal customer base.
C. conduct research on your product.
D. make improvements to your product.
C or D?

3. The freedom to make your own decisions can be limited if the business you choose is a
A. home-based business.
B. wholesale business.
C. service business.
D. franchise.
D?

4. A great business idea is
A. an idea that no one else has ever thought of.
B. all you need to succeed.
C. something that comes along once in a lifetime.
D. the beginning of a great business.
D?

yes

The number one reason for the failure of new business is

1. The correct answer is A. choosing a poor location.

When considering the main disadvantages of buying a franchise, one of them is the possibility of choosing a poor location. To get this answer, you would need knowledge or experience in the world of franchising and understand that one of the risks involved is selecting a location that does not attract enough customers.

2. The correct answer is C. conduct research on your product.

After opening a new business, it is not the best time to conduct research on your product. This question requires logical thinking because conducting research before opening a business is crucial for its success. However, after the business has started, it is essential to focus on other aspects such as building a loyal customer base or making improvements to the product.

3. The correct answer is D. franchise.

If you choose a franchise as your business option, the freedom to make your own decisions can be limited. This answer requires an understanding of different types of businesses and the structure of a franchise, which typically requires adherence to the franchisor's guidelines and operating procedures.

4. The correct answer is D. the beginning of a great business.

A great business idea is the start or foundation of a great business. It is not necessarily something that no one else has ever thought of or something that comes along once in a lifetime. This answer requires an appreciation of the process of developing and executing a business idea, understanding that success depends on more than just the idea itself.