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OTE2601 Assignment 02 Due 2024. 100% pass guaranteed.....This document contains answers for the following questions:.QUESTION 1 Every entrepreneur has certain expectations and goals when choosing a business. 1.1 What is a close corporation in business? GR50,00
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OTE2601 Assignment 02 Due 2024. 100% pass guaranteed.....This document contains answers for the following questions:.QUESTION 1 Every entrepreneur has certain expectations and goals when choosing a business. 1.1 What is a close corporation in business? G
OTE2601 Assignment 02 Due 2024. 100% pass guaranteed.....This document contains answers for the following questions:.....QUESTION 1
Every entrepreneur has certain expectations and goals when choosing a business.
1.1 What is a close corporation in business? Give one examples. (5)
1.2 You are a G...
Every entrepreneur has certain expectations and goals
when choosing a business.
1.1 What is a close corporation in business? Give one
examples. (5)
1.2 You are a Grade 7 teacher leading a discussion on the
different kinds of franchising.
1.2.1 What are the issues to consider when discussing
about capital requirement for a franchise (10).
1.2.2 Do you agree with the assertion that businesses fail
for a number of reasons? Substantiate on your answer
by discussing the following;
1.2.2.1 Incompetent management (2)
, OTE2601 ASSIGNMENT 02 DUE 2024
QUESTION 1
1.1. A close corporation, also known as a closely held corporation, is a type of business entity in
which the ownership and control of the corporation is limited to a small group of individuals,
typically family members or a small group of investors. Close corporations are often operated in a
more informal manner and have fewer regulatory requirements compared to publicly traded
corporations.
One example of a close corporation is a family-owned and operated small business, such as a local
restaurant or a small retail store, where the ownership and management are limited to family
members.
1.2.1. 1. Initial Investment: Discuss the amount of money required to purchase the franchise rights,
set up the business, and cover initial operational costs.
2. Ongoing Fees: Talk about the costs of ongoing royalties, marketing fees, and other expenses that
the franchisee will be required to pay to the franchisor.
3. Financial Projections: Consider the potential return on investment and the time it may take to
recoup the initial capital investment.
4. Financing Options: Explore different ways to finance the franchise, such as personal savings, bank
loans, or financing through the franchisor.
5. Risk Management: Discuss the financial risks involved in franchising, including the potential for
failure and the impact on personal finances.
6. Profit Margins: Analyze the potential profit margins of the franchise and how they compare to the
initial capital requirements.
7. Budgeting and Financial Planning: Emphasize the importance of budgeting and financial planning
to ensure the franchise’s long-term success and profitability.
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