U1 AOS2/KK4: Starting vs. Buying Flashcards

1
Q

Purchasing an established business

PROS

A
  • sales to existing cost generate instant income
  • a good bus/history ▲ the likely hoof of bus success
    -many processes already established
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2
Q

Purchasing an established business

CONS

A
  • existing image and policies can be diff to change
  • success of bus may have been die to owners personality
  • if change bus too much could alienate customers meaning they shop elsewhere
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3
Q

starting up a new bus

A
  • finding a new location
  • deciding services to offer
  • marketing
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4
Q

starting up a new bus

PROS

A
  • the owner has the freedom to set up the bus exactly how they want
  • build business organically
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5
Q

starting up a new bus

CONS

A
  • ▲ risk and measure for uncertainty without prev bus rep it may be more difficult to secure finance
  • time needed to develop Customer base employ staff and develop relationships w customers
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