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June 17, 2024

The Role of Entrepreneurship in Business

Why do some businesses succeed while others fail? List and explain three main reasons why businesses fail.
2. Starting a new business from scratch can seem like a daunting proposition. Accordingly, some entrepreneurs may choose to buy a business that is already established, or purchase a franchise from a business that already has name recognition.
Read this article 11 Popular Franchises You Can Own and What it Costs to Open Them located at: http://mentalfloss.com/article/69367/11-popular-franchises-you-can-own-and-what-it-costs-open-them
Choose a business franchise that is interesting to you, and after researching that franchise, give information on the following:

a. What do you have to do to own a franchise for this business?
b. How much would it cost to open this franchise?
c. What training and support would you receive from the company selling the franchise to you?
d. What advantages do you see in buying this franchise rather than starting a business from scratch? What disadvantages do you see?
e. After completing this research, would you be more inclined to work towards owning a franchise, or starting a business from scratch? Why?
Click on Start a New Thread and ‘post’ your response. Please be sure to address all questions above.

You will not be able to see any discussion responses until you post your initial response. Reply thoughtfully and substantively to at least two other classmates during the week.

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