Chapter 2: Business Options
There are so many options available and its good to have a look at some of the options available. What are some options; you can choose to start and build your own business from scratch, buy an existing already established business? Or you can choose a brand name with all the bells and whistles by buying a franchise.
Start Your Own Business
Starting your own business is the riskiest and time consuming, you need to spend time researching your market establishing relationships with potential customers and have a lot of patience.
Buy an Established Business
Maybe your choice is to buy an existing business, while this can initially be more expensive, what you get is an established name, established and loyal customer base.
"Everyone has different circumstances, financials and needs, review all the options and importantly count the cost both personally and financially before committing to any business."
Buying an established business can mean you make an income from, the first day; you also have an established management system and usually an established premises.
While buying and established business may not be uniquely your own, after a time you can make changes and add your own stamp to it. With this option it is often very easy to grow and expand your business horizons and possibly even turning it into a franchise system.
Franchising
Buying a franchise is a great way to get a brand name and a proven money making system.
We all know of the big franchises MacDonald's, BurgerKing, and KFC all very successful business.
What do you get, an established proven business system and model, constant advertising and importantly a brand name everyone recognizes.
What you don't get or (can't do) is freedom to change the system, control of the way you promote and manage the business.
What to Consider
For me the work and the satisfaction and the excitement that comes from starting your own business is well worth the risk.
Having said that everyone has different circumstances, financials and needs, review all the options and importantly count the cost both personally and financially before committing to any business.