INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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greater access of venture capital
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the opportunity to participate in a national advertising campaign
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inventory is in place and trade credit has been establish
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easy implementation of innovations and changes past policies
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Detailed explanation-1: -With a franchise, the target audience is already established and active, and since they know what to expect, the decision to do business with you takes less time. As a result, it also takes less time to begin generating profits. Existing brand recognition also makes it easier for you to attract employees and talent.
Detailed explanation-2: -Buying an existing business is almost always more costly upfront than starting your own. However, it is also easier to get financing for buying a business vs starting one. Lenders and investors are much more comfortable working with a business that has a proven track record. Which brings us to the topic of cash flow.
Detailed explanation-3: -Advantage: Financial Rewards. Advantage: Lifestyle Independence. Advantage: Personal Satisfaction and Growth. Disadvantage: Financial Risk. Disadvantage: Stress and Health Issues. Disadvantage: Time Commitment. Try a Side Hustle.