Small Business
Small business involves starting or buying a business that may require a specific location, employees, inventory, equipment and other overhead costs to serve the needs of a high volume of customers. It can involve retail, hospitality, professional services (engineering, accounting, etc.), wholesale trade and specialty businesses.
The ideal small business profile consists of a combination of a responsive and initiating business development style, motivation based on a need for security and service in your career and a preference for a structured work environment that you can adapt as needed. You have a good level of desire in both meeting new people and in the learning requirements of the business.
Research small business opportunities by looking at your hobbies, personal interests and products and services that are in high demand. Look at small businesses with a strong track record that may be looking for a new owner or partner. If you cannot afford to buy a business, start a business in a traditional high demand area.
List some products or services that you would be interested in selling through a small business environment.
Franchise
Franchises involve acquiring the rights to a proven business concept that can include geographic territory, right to sell specific products and/or services, physical location design and supplier system, backed by a training, marketing, selling and servicing process. Based on market recognition, some franchises require a high front end investment and residual return to the franchiser while others require a lower initial investment and residual return.
The ideal franchise profile consists of a very responsive business development style, motivation based on a need for security in your career and a preference for a structured work environment. You have a good level of desire in both meeting new people and in the learning requirements of the business.
Research franchise opportunities by looking at the franchisers of specific products or services. Look for reliable organizations with a strong track record and an established full support system for training, operational policies and procedures, supplier relationships, service, etc.
List some products or services that you would be interested in selling through a franchise environment.
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