You have been considering going into business for three years and have saved $10
ID: 419310 • Letter: Y
Question
You have been considering going into business for three years and have saved $10,000 toward this dream. Since graduating from college two years ago, you have worked full time at a bank as a credit analyst and part time at a bookstore. These jobs have given you some perspective on financial services and retail trade. Now, you are ready dig in and find a business to buy or start. 1. How will you decide what type of business to own (industry, geography, lifestyle, technology, etc.)? 2.Why would you (or would you not) weigh the option of buying a business? 3.Identify three possible sources of information on businesses for sale and find two possibilities from each. Ex. Yahoo finance 4.Select one of the businesses and explain why it interests you as a possible investment.You have been considering going into business for three years and have saved $10,000 toward this dream. Since graduating from college two years ago, you have worked full time at a bank as a credit analyst and part time at a bookstore. These jobs have given you some perspective on financial services and retail trade. Now, you are ready dig in and find a business to buy or start. 1. How will you decide what type of business to own (industry, geography, lifestyle, technology, etc.)? 2.Why would you (or would you not) weigh the option of buying a business? 3.Identify three possible sources of information on businesses for sale and find two possibilities from each. Ex. Yahoo finance 4.Select one of the businesses and explain why it interests you as a possible investment.
You have been considering going into business for three years and have saved $10,000 toward this dream. Since graduating from college two years ago, you have worked full time at a bank as a credit analyst and part time at a bookstore. These jobs have given you some perspective on financial services and retail trade. Now, you are ready dig in and find a business to buy or start. 1. How will you decide what type of business to own (industry, geography, lifestyle, technology, etc.)? 2.Why would you (or would you not) weigh the option of buying a business? 3.Identify three possible sources of information on businesses for sale and find two possibilities from each. Ex. Yahoo finance 4.Select one of the businesses and explain why it interests you as a possible investment.
1. How will you decide what type of business to own (industry, geography, lifestyle, technology, etc.)? 2.Why would you (or would you not) weigh the option of buying a business? 3.Identify three possible sources of information on businesses for sale and find two possibilities from each. Ex. Yahoo finance 4.Select one of the businesses and explain why it interests you as a possible investment.
1. How will you decide what type of business to own (industry, geography, lifestyle, technology, etc.)? 2.Why would you (or would you not) weigh the option of buying a business? 3.Identify three possible sources of information on businesses for sale and find two possibilities from each. Ex. Yahoo finance 4.Select one of the businesses and explain why it interests you as a possible investment.
Explanation / Answer
1. I will decide the type of business based on the type of resources in terms of knowledge, skill and finance options available. Industry will be services as they are easier to manage with less human resources and are flexible. Geography can be unlimited as Internet and technology has made it possible to reach far and wide with the business. Still geographic choices will depend on tax and regulatory requirements. I will choose a lifestyle business as it has more demand in current times and have more younger customers opting to buy. Technology is required for any business to start and promote. It saves cost and time and increases reach of the business or services.
2.I would opt for buying a business as it will give me a headstart fo starting my business. The business will have a target market and a range of services or product developed accordingly. Investment will be criteria that will be considered while buying a business apart from interest and capability to run that particular business. The business will provide a database and specific business channels as well as ideas which will help in future strategizing and opting for a suitable course of action.
3.Three sources of information on businesses for sale are BusinessesForSale.com, BusinessMart.com, Bizbuysell.com
Possibilities from BusinessesForSale.com - Fitness center in a posh location with trained staff, Rapidly growing health and wellness franchise in Wisconsin
Possibilities from BusinessMart.com - Corporate Training Business for Sale in Los Angeles, California and Education Franchises Center for Sale available in California
Possibilities from Bizbuysell.com - Tarot card Reading in San Diego, Reiki and Meditation center in San Diego
4. I am interested in starting the Health and wellness franchise in Wisconsin from BusinessesForSale.com. I want to opt for it as it is a lifestyle business with community goals. Health is a personal goal and interest and I will like to be updated with latest trends as well help the society benefit for the same. It is business with growing and evergreen demand.
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