Friday, March 21, 2008

Buy a Business, or Franchise

The etymology of "business" relates to the state of being busy either as an individual or society as a whole, doing commercially viable and profitable work. The term "business" has at least three usages, depending on the scope — the singular usage (above) to mean a particular company or corporation, the generalized usage to refer to a particular market sector, such as "the record business," or the broadest meaning to include all activity by the community of suppliers of goods and services. However, the exact definition of business, like much else in the philosophy of business, is a matter of debate.

Whatever the definition of business for mostly people, to start a business is a difficult work. They are not enough of courage to begin a business, because as their opinion, business is a job with a lot of risk.

However, to start a business we need the courage, about the risk you can look for the low risk. Many people start their business by using franchises, and they rich the success. Franchising is a method of doing business wherein a "franchisor" authorizes proven methods of doing business to a "franchisee" for a fee and a percentage of sales or profits. The advantage of the franchise are quickly based on a proven trademark and formula of doing business, as opposed to having to build a new business and brand from scratch (often in the face of aggressive competition from franchise operators). A well run franchise would offer a turnkey business: from site selection to lease negotiation, training, mentoring and ongoing support as well as statutory requirements and troubleshooting.

So, Buying an establish business and get a franchising system is a good way to make money whether online or offline business.

2 comments:

Unknown said...

Great article. I think that buying a business is a good idea. Do you know of any sites online that provide such a classified service? I know there are several available, but do you have any suggestions?

Unknown said...

@K-- check out your local Chamber of Commerce. They should be able to help you or guide you in the right direction. I also suggest going to BizTrader.com. It's a global marketplace where you can buy, sell, or invest in a business. Great place to find a small business on the Internet. Good luck on your search.