ENTREPRENEORSHIP

AND SMALL
BUSINESS
2. Scan through the text again searching for the
English equivalents of the following collocations.
•assume the risk •challenges fuel
•sole proprietor entrepreneurs
•mom and pop shop •accomplishment
•operate online •people person
•to go beyond •whatever it takes
•multiple streams of •isn't a matter of if,
income but when
•gain in popularity •shy away from
•digital nomads challenges
•status quo •resourcefulness
•think outside the box •walk on the wild side
•passionate •no room for
•dwell on the past procrastination
•seize the day
  3. Complete the following table.
Verb Noun Adjective
own owner/ownership -
1 risk 2
dream 3 4
5 6 creative
familiarize 7 8
will 9 10
11 12 successful
13 entrepreneur 14
4. Match the following phrases with their
meanings:
 Answer the questions:

 Who is an entrepreneur?
 How many types of entrepreneurs do you
remember? Name some of them.
 Name characteristics of a successful
entrepreneur.
 Why would someone want to be an
entrepreneur?
 Do you know how to create your own
business?
 Business
What is the main step in the process of
starting
ideaone’s own business? Can we omit this
step?
The Franchise Alternative
https://www.youtube.com/watch?v=ARuOtc
n6Qq4

Watch the video and be ready to answer the

following questions:
 What is a franchise?
 Franchising is about running a business
that benefits from someone else’s proven
business idea and experience.
 What are the franchisor responsibilities?
 Provide: products, training, equipment,
marketing.
 What are the franchisor responsibilities?
 Give a profit share.
 Franchising is arrangement where one party (the
franchiser [ˈfræn.tʃaɪ.zər] ) grants another party (the
franchisee [ˌfræn.tʃaɪˈziː] ) the right to use its trademark
or trade-name as well as certain business systems and
processes, to produce and market a good or service
according to certain specifications.
 The franchisee usually pays a one-time franchise
[ˈfræn.tʃaɪz] fee plus a percentage of sales revenue as
royalty, and gains:
 immediate name recognition
 tried and tested products,
 standard building design
 detailed techniques in running and promoting the
business,
 training of employees
 ongoing help in promoting and upgrading of the products.
 Types of franchises
 In a product franchise, the franchisee
pays the franchising company for the
right to sell trademarked goods, which
are purchased from the franchiser and
resold by the franchisee. Car dealers
and gasoline stations fall into this
category. In a manufacturing franchise, like a soft-
drink bottling plant, the franchisee is
licensed by the parent company to
produce and distribute its products, using
supplies purchased from the franchiser.
In a business-format franchise, the
franchisee buys the right to open a
business using the franchiser’s name
and format for doing business. The
fast-food chains typify this form of
franchising.
 Discussion
 What type of person you think it will suit,
describe what responsibilities they will
have.
 Imagine that you are a franchiser, say
what support and help you should offer.
 Adjectives with -ing or –ed
 This book is very interesting.
 She finds her job exhausting.
 It was an exciting experience for her.

 I’m interested in landscape design.

 At the end of the day she is
often exhausted.
 She is excited about going to Portugal.
 Franchising. (Солонович… p.8,read the
text, ex. 2,3,5,6)
 Comment on the following
quotations:
1. "Don’t try to do everything by yourself, but try
to connect with people and resources. Having
that discipline and perseverance is really
important." -Chieu Cao, Co-founder of Perkbox
2. "Be nicer to your customers than your
competitors." -Richard Reed, Co-Founder of
Innocent Drinks
3. Mahatma Gandhi: “Be the change you wish to
see in the world.”
4. “Choose a job that you like, and you will never
have to work a day in your life.” - Confucius
5. “Your most unhappy customers are your
greatest source of learning.” - Bill Gates