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Peter and Ann Gibson want to save enough money so that in five years they can purchase a cleaning service franchise. How much will they need to save each year if the franchise fee is $19,500 and startup costs are $15,200? (Do not consider interest earned on savings when calculating your answer.) If the company earns $24,700 in profits the first year, and the royalty fee is 6 percent, how much will the Gonzales’ first royalty payment be?
What extra expenses could you expect to pay when operating a franchise as compared to operating a non-franchised company? Could you save money in expenses by operating a franc
You have purchased a car wash franchise. The franchise fee was $20,000. You must pay 6 percent of your earnings in royalty fees. In your first year, you paid $10,000 for equip
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