Starting From Scratch Or Buying An Existing Business

Starting From Scratch Or Buying An Existing Business If youre almost to have a barter, youll think about how to get it, by staring a stark naked one or buy an exist one. Anna Bryant bought an existing salon when she had the chance instead of suck uple her protest.The reasons for that are because she had no personal line of credit inhabit or skills precisely she believes that she have the capabilities to run this salon, as well shes an entrepreneur for the first time and this will further her the time of the stating period plus the effort of expression the employment name and shit it stand in ground, it to a fault have customers and taff and already been racetrack for years so she can start making sales from the first day.Before buying the commercial enterprise there are some steps to be taken, studies, plans and more(prenominal), like crafty the first owner decided to sell the business and if there are major problems within the business and figuring out how to s olve them. Appraising the business is a must too because she wouldnt want to turn over more for the business. She should get friend and ask experts about whole the details as she also pauperisation to sit plans about how shell run the business and about the changes needed to be do and ake expectations to be reached. overly evaluating the risks and see how to avoid them.After finding the reasons and applying the required steps before buying, Anna Bryant is now able to make her decision. in(predicate) Entrepreneur Effectiveness A undefeated entrepreneur have special characteristics, passion, willingness to take risks, Positive attitude, Confidence, respect, and devote are all needed in the entrepreneur character. Commitment, leading skills, team building and flexibility also makes a good entrepreneur. knowledge in markets and how to run businesses and ow to communicate with others, all these characteristics build a Successful entrepreneur.Having no previous experience as an entrepreneur doesnt mean that the business wont be conquestful. Annas first business succeeded because she had a lot of a victoryful entrepreneur characteristics, the first was her love to the business and her passion about fashion. Courage, Wisdom, and excitement all were in her heart, and the desire to take the business to the next level all made her a great entrepreneur. Anna didnt have an experience but she was determined to gain it by consulting and getting help from others. She sat goals and put plans, she had a vision and this is one of the entrepreneur characteristics. ne of the challenges that face any(prenominal) business is financial management, gamy expenses, low sales and insignificant protlts, these problems and more which were facing Annas business can be solved by using analytic thinking techniques and take the right pull through based on the analysis process. Anna was able to improve the business finance by hiring a professional team and using their help, also by working(a) on herself and gaining knowledge about the business market and learning some merchandising techniques,. By studying the businesses hances, opportunities, strengths and weaknesses she was able to manage it Just right.After that she started to make changes in the business and make it more effective and attractive, by offering new services and new fashionable designs that are desirable which brought her new customers, Anna didnt wait until she make the salon exactly as she wants, she stared to work and make profits right absent plus working in making the needed improvements, taking an advantage of all the available opportunities of the existing business made in easier for her to manage all the financial matters and this made her a great entrepreneur.My references Nitish. (2011). briny Reasons to Buy an Existing Business. Available http// accessed 29th April 2013. From E-library Slavec, Alenka-Prodan, Igor. (2012). The influence of entrepreneurs characteristics on small manufacturing firm debt financing. East European Management Studies. 17 (2), 22-23-24. The Advantages Of Franchising Owning and running a franchise instead of starting a business is an action taken by a lot of business batch, John is one of them.Franchising have advantages which makes it a cave in option, as for John, a franchise have a lot benefits to offer like having big cognise brand to stand by you and throw you for different aspects like the product knowledge, training development and sales. It was focussing easier that staring his own business. A franchise makes profits quickly, and it have a proven business do and its supported by the Franchisors. It have lower risks and worries and a help is available when needed from the Franchisors who have puissant motivation.From my point of view franchising have five main advantages, Branding, it offers a strategic identity which impact on the market, big businesses spend millions on their branding and ranchisee gets the advant age of that, and the Franchisors are mostly well known for customers. Advertising, advert takes a lot of the business expenses and a business cant survive without expensive and effective advertising. Name Recognition, which makes people guarantee the quality of the products and a known name gives them that.Reputation, which enable the Franchisee to enjoy protectiveness against lawsuits or accidents or any issues with the employees. Support, running a business needs training, and by have a Franchise youll get all the train you need, they want you to be successtul because your success is ll possible ways. A Successful Franchise Business their success so theyll support you in Acquiring a franchise is a successful business to run, as its cleared by the advantages of franchising. t have the benefit of having an access to the franchiser established system which have been running for a long time, franchisers spend a lot of time to modifying their system to the silk hat it can be and hand it over to the franchisees, the system includes information about the products or services and all the details of the market methods, plus they make research to determine the best ocation for the franchise and some of them also manage the building and the renting matters which leave less worries for the franchisees.Another thing is, franchisees are not alone, the are supported by the franchisers who really want them to success, they train them to operate the business efficaciously , this is a very important reason why franchising can be a successful business. Moreover, franchisees customers have a full awareness of the business and its products so they can trust without even trying it, means that loyal customer exists with any effort.John made it in his business and he became very successful because he had the experience of running a franchise before, he picked a good company with sound model to franchise and he started with full energy and high confidence. He received different t rainings in different parts of the company, and used what he have learnt effectively and ran the business properly, he succeeded perfectly and became one of the best too.Here are a study which clears the success of franchising franchises success rate is 90% comparing to only 15% of business staring from scratch, meaning hat a franchisees will surely succeed as long as they follow the franchisors the instructions and use the support system effectively. My references Don Daszkowski. Higher Likelihood of Success with a Franchise Business . Available http//franchises. about. com/od/buyingafranchise/a/franchise-success. htm. Last accessed 1st may 2013. From the E-library Abell-Mark1. (2010). The franchising advantage. Managing Intellectual Property. 9 (1-2), 16-17-18.GOING FOR A BUISNESS Starting a business is never easy whether it was a franchising, entrepreneurial enture or an independent small business. If Im about to start my own business I wouldnt go for franchising, not because it wont be successful or because its hard, its Just that Id rather to numerate up with new idea and add something to the world rather that applying the idea of someone else, franchising may be profitable and better option tor those who are seeking tor cash and high incomes but Im one ot those who cares more about changing the world and putting my fingerprint on it.Becoming an entrepreneur of an existing business is a good idea which will save a lot f preparing time in the starting period, still the existing business may not apply my own perspectives which means Ill have to do a lot of changes and this may cost me more that what Ill may pay if I started it myself, Thats why my best option is to start from the ground. My new small business is about handmade stuff trade, not dismission to say its growing fast but I follow the saying think big and start small.My band is LA FEMME TOM and its a one-person business so far, its growing slowly but its giving me all I need at the moment, plus its helping me to spread the awareness of the mportance and the harbor of the handmade stuff which is one of the business aims, it is about selling my handmade stuff, giving courses on how to make them and supporting those who have a talent in this field.I sell my stuff online and in some places, I dont have my own shop yet but soon Ill do as its planed for. The business onrush is to grow and have many branches, its in a progress development and aiming to have partners and hire working hands to take the production to the next level. Basically the business activities are about girls hobbies to fell the beam of light time with useful and beneficial things.