Should I Start My Own or Buy an Existing Business?
The purpose of this publication is to help you start your own business. There are alternative ways of going into business, for example:
Buying an Existing Business
We suggest you contact your accountant or business broker if you are interested in buying an existing business. A thorough knowledge of the business you are buying is mandatory and having some years of experience in that kind of business is necessary—just a "good feel" is not enough.
Becoming a Franchisee
A franchise is a form of licensing. It is a method of distributing products or services. A typical franchise is simply an agreement between a seller and a buyer that permits the buyer (franchisee) to sell the product, method or service of the seller (franchisor). The seller's knowledge, image, success, manufacturing and marketing techniques are supplied to the buyer for a royalty fee and often an initial payment.
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