Javier Carriedo Veronica Peron Emely Garcia Period. 6

 Business Franchise: a semi-independent business that pays fees to a parent company in return for the exclusive right to sell a certain product or service in a given area.  Parent companies are called franchisers.

 Management training and support  Standardized quality  National advertising programs  Financial assistance  Centralized buying power

 High franchising fees and royalties  Strict operating standards  Purchasing restrictions  Limited product line

 Cooperative = a business organization owned and operated by a group of individuals for their mutual benefits.  Consumer Cooperative = retail outlet owned and operated by consumers.  Service Cooperative = cooperative that provides a service, rather than a good.  Producer Cooperative = agricultural marketing cooperative that helps members sell their products.

 Nonprofit Organization = institution that functions much like a business, but does not operate for the purpose of generating profits.  Professional Organization = nonprofit organization that works to improve the image, working conditions, and skill levels of people in particular occupations.  Business Associations = nonprofit that promotes collective business interest for a city, state, or other geographical area, or for a group of similar businesses.  Trade Association = nonprofit organization that promotes the interest of a particular industry.  Labor Unions = an organized group of workers whose aim is to improve working conditions, hours, wages, and fringe benefits.

1. Parent companies are called what? 2. What are two advantages of a franchise? 3. What are two disadvantages of a franchise? 4. What do service cooperative businesses provide? What don’t they provide? 5. What are two things that labor unions aim to improve?