The main factors that affect those people who desire to become an owner of a small business are finding the right product, finding the correct market for your product, decide to start a new business, buy an existing business, or buy a franchise, find the right location, and develop and implement a detailed business plan. To be successful you need to choose a product that fulfills a need and can be marketed in the location you wish to be in. There are several factors to consider when choosing to start your own business; how much capital is required, what is the degree of risk, do you have a competitive environment, and are you prepared to handle all business situations by yourself. There are several factors to consider when buying a business; why is that business for sale, what are the intentions of the owner, is the location suitable for your purposes, are the employees proficient and help the business, is the product marketable, and are you ready to take over an existing operation. There are several factors to consider when buying a franchise; is the franchised product marketable in the location you are pursuing, can you handle the limitations that the franchiser imposes, and do you have the capital to purchase into the franchise. It is the upmost of importance to develop and implement a very detailed business plan.
Entrepreneurial Blog
Jeanette Marceau's Entrepreneurial Blog
Not logged in