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Resort Fees and the FTC
The FTC recently published a report addressing the issue of resort fees charged by hotels. An excerpt from the report reads, “This analysis finds that separating mandatory resort fees from posted room rates without first disclosing the total price is likely to harm consumers by increasing the search costs and cognitive costs of finding and…
How Much Focus Should be Placed on Food Quality?
How important is food quality to consumers? A new study from the International Journal of Revenue Management gives some insight into diners’ preferences. The study, which involved over 2,000 restaurants, sought to identify the factors that would make consumers willing to pay more. As it turns out, service and ambiance rank higher than food quality,…
The Ins-and-Outs of Franchise Agreements
In the new Entrepreneur article, “The 19 Covenants of a Standard Franchise Agreement,” author Rick Grossman shares some details from his bestselling book, “The Franchise Bible.” If you are interested in buying a franchise, this article is for you. What covenants are typically included in a franchise agreement? Here are some of them: The Grant…