Although part of a particular crew, each member who becomes a(n) _____________ is considered to be an independent entrepreneur, not an employee, who receives no salary from the group, but instead has been accorded a valuable franchise to oversee.

Please fill in the blank with the appropriate term.

Question

03-03-2025
Business

High School

We appreciate your visit to Although part of a particular crew each member who becomes a n is considered to be an independent entrepreneur not an employee who receives no. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!

Although part of a particular crew, each member who becomes a(n) _____________ is considered to be an independent entrepreneur, not an employee, who receives no salary from the group, but instead has been accorded a valuable franchise to oversee.

Please fill in the blank with the appropriate term.

Answer :

Final answer:

An independent entrepreneur in a crew who receives a franchise is an independent business owner, typically operating under a sole proprietorship model. They purchase rights from a franchisor and take on risks with the potential for profit, often using personal funds or investments from angel investors to start their business.

Explanation:

Although part of a particular crew, each member who becomes an independent entrepreneur is considered to be an independent entrepreneur, not an employee, who receives no salary from the group, but instead has been accorded a valuable franchise to oversee. A franchise allows someone to begin a business by purchasing the rights to start a business based on a model designed by the franchisor. The franchisor often provides support such as training, supply chain assistance, and help in setting up operations. In exchange, the franchisee pays a franchise fee and ongoing royalty fees to the franchisor.

Entrepreneurs are known for their willingness to take risks and innovate in order to start a business, which is often organized as a sole proprietorship. A sole proprietorship is a business owned by an individual who is responsible for all aspects of the business, including debts and entitlements to profit. Successful entrepreneurs carefully calculate risks versus potential benefits before committing to new business ventures.

Typically, the initial funding for a small business comes from the entrepreneur's own savings or loans. However, some entrepreneurs receive investments from angel investors in exchange for ownership stakes in the company.

Although part of a particular crew, each member who becomes a(n) _____________ is considered to be an independent entrepreneur, not an employee, who receives no salary from the group, but instead has been accorded a valuable franchise to oversee.Please fill in the blank with the appropriate term.

Answer :

Final answer:

Explanation:

Other Questions

Although part of a particular crew, each member who becomes a(n) _____________ is considered to be an independent entrepreneur, not an employee, who receives no salary from the group, but instead has been accorded a valuable franchise to oversee.

Please fill in the blank with the appropriate term.