Chapter three talks about recognizing opportunity. Knowing whether it’s better for you to start a business or buy an already existing business. The decision whether to start or buy is made easier now if you consider your personal values and goals. Considering your values, your personality, your abilities, your background, your hobbies, your interests, and your lifestyle needs. The United States has really large, important, successful family businesses. The advantages of taking over a family business are trust and togetherness. The disadvantages are that maybe your parents won’t think you have what it that’s to be a business person and the money. Another way to obtain a business is by buying an already existing business. This way is less risky. This way you don’t have to worry about hiring and training employees, or getting customers. All the equipment and procedures needed in this business would already be set. You can also buy a franchise. A franchise is the right or license given by a company or store to an individual or group to sell its products or services. A franchisee is the person or company buying the franchise. A franchisor is the person or company that sells the franchises. A business broker is a person who buys businesses and pays good money for them.
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