Question
Ron opened the first McDonald's® in his small town after reading about the success of others in his state. This is an example of which way to enter into business?
Responses
Started his own business
Started his own business
Purchased an existing business
Purchased an existing business
Purchased a franchise
Purchased a franchise
Took over the family business
Responses
Started his own business
Started his own business
Purchased an existing business
Purchased an existing business
Purchased a franchise
Purchased a franchise
Took over the family business
Answers
Answered by
GPT-4o mini
This is an example of **purchased a franchise**. By opening the first McDonald's® in his town, Ron is likely operating under a franchise agreement with McDonald's, which allows him to use the brand and business model of an established company.