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Exercise 1. Match the English words with their Russian equivalents.
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1. franchisee A. сорт, качество, торговая марка
2. failure B. франшиза, особое право, особый контракт
3. franchisors C. расходы
4. franchise D. торговое предприятие, пользующееся правом торговать c продуктами промышленного предприятия на льготных условиях
5. contribute E. одинаковая плата
6. trademark F. отвечать, исполнять
7. to comply with G. розничный торговец
8. brand H. вносить, предоставлять
9. flat fees I. компания, имеющая патент на деятельность
10. retailers J. торговая марка
11. expenses K. банкротство, несостоятельность
Exercise 2. In pairs, decide if the points below refer to (a) franchisees or (b) franchisors.
1. They can easily get advice on how to deal with specific problems.
2. They do not have to borrow large amounts of capital to expand.
3. They must respect certain rules.
4. They have to buy supplies from particular sources.
5. They are responsible for national advertising.
6. They can only sell certain products.
7. They have to seek approval before selling the business.
8. They provide regular reports on the level of sales.
9. They can develop their business without having to deal with the problems of recruiting and managing personnel.
Exercise 3. Answer the following questions.
1. How would you define a franchise? Is it a new and popular form of running business?
2. What rights are given by a franchise?
3. What are the contacts between franchisor and franchisee based on?
4. Franchising offers advantages and has disadvantages for a franchisor and a franchisee. What are they for both parties?
5. What categories are franchises classified into?
6. What is a trade-mark franchise?
Exercise 4. In each of the following, select the word or phrase which best completes the statement or answers the question.
1) A franchised business is owned by
a. government с. stockholders
b. franchisor d. franchisee
2) A franchise business does not have to be
a. large с. expensive
b. a fast-food operation d. all of these
3) Franchises include all of the following kinds of business except
a. retailing с. government services
b. wholesaling d. manufacturing
4) Franchises will probably
a. increase in number с remain the same
b. decrease in number d. be made illegal
5) Which one of the following would most likely not be a franchised business?
a. radio station с. gas and electric company
b. auto dealership d. gas station
6) The right to grant a franchise agreement is reserved to the
a. parent company
b. franchisee
с. vendor
d. license
7) Franchise fees are
a. paid to the franchisor с. based on the size of the territory
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b. based on sales volume d. could be any or all of these
8) There are franchise agreements that have clauses covering
a. sales quotas c. purchasing and use of products
b. termination agreements d. all of these topics
9) A franchise is a good way for a person to
a. get business experience
b. get started in business with limited capital
с. get rich
d. meet competition
10) One of the disadvantages of owing a franchise business is that
a. the parent companies have standardized products and procedures
b. a franchise business requires less cash to start
c. the franchise may have a better chance of succeeding
d. the owner cannot sell other companies' products
Exercise 5. Match the words with their definitions.
franchise, trade-mark, ownership, failure, profitable, to earn, licence, cost, investment, expenses
1. Sums of money spent on the running of a business in such a way that they do not add to the value of its assets.
2. A special mark that is placed on a particular brand of article or commodity to distinguish it from similar goods sold by other producers.
3. Formal permission in writing, from an authority recognized by law, to perform an act with, without that permission, would be unlawful.
4. Lack of success; inability to pay debts; insolvency, bankruptcy.
5. To get something especially by working.
6. The act of using money to obtain income or profits; money invested.
7. An arrangement by which a monopoly producer gives another producer or trader by formal licence the exclusive right to manufacture, or sell the products in a certain area.
8. The price paid for something.
9. The right to hold a thing entirely as one's own, including complete and permanent control over it.
10. Paying a profit; producing an income; useful.
Exercise 5. Supply the sentences with the missing words.
know-how, shares, in accordance with, to comply with, distribution, contribution, supply, available, exist, to share
1. There are a growing number of women who want... some of the traditional male roles.
2. New products must... certain standards.
3. The United Kingdom had to make a... of £1 000 million to the EU budget.
4. They are almost totally dependent on Western....
5. A week ago the firm's... jumped from 10 percent to 114 percent.
6. Education is carried out... the principles of the school.
7. More information becomes... through the use of computers.
8. Unions took strike action to stop the production and... of the local newspaper.
9. Economic stability can only be reached if demand and... are in approximate balance.
10. Communities who live by hunting and gathering still....
Exercise 6. Find words in the text to complete the following expressions.
| the parent company is... under new... a lower failure... a system of distributing... | supply their products in... offers its maximum... possible financial... freedom in management... |
Exercise 7. Complete the list below.
Noun Adjective Verb
profitability profitable profit
efficiency
health
appropriacy
operation
finance
productivity
management
Exercise 8. The word franchise has many derivatives. Look through the
following extracts and choose its right form.
a)... is not a new phenomenon. It has been around since the nineteenth century, when such companies as Singer and International Harvester established dealerships throughout the world. Early in this century, Coca-Cola, General Motors, and Metropolitan Life Insurance Company, among others, used... to distribute or sell their products. But the real boom in... began in the late 1950s, with the proliferation of hotels and motels like Holiday Inn and fast-food establishments like Baskin-Robbins and Dunkin' Donuts.
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The latest trend in... has been diversification in the variety of products and services offered. Today, over 2000 companies offer... ranging from day-care centers and health clubs to dental clinics, video-tape rental outlets, and funeral parlors. By and large, most are service operations.
b) The best way to protect yourself from a poor... investment is to study the opportunity very carefully before you commit yourself. Since 1978, the Federal Trade Commission has required... to disclose information about their operations to prospective.... By studying this information, you can determine the financial condition of the... and ascertain whether it has been involved in lawsuits with....
Another good source of information about a... is other.... Find out what they think of the opportunity. If they had it to do over again, would they still invest? That's the bottom line.
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