established and existing business Flashcards
(5 cards)
1
Q
what is an established business
A
business thats already operating and everything associated with the business is provided
2
Q
whats included when purchasing an established business
A
stock
business premises
employees
customer base
reputation
3
Q
what should a potential business owner look into before purchasing an established business
A
investigate why the business is for sale
if the business has been struggling
the businesses financial health
4
Q
what are two main reasons people create a new business
A
recognising a gap in the market
wanting to develop new products or services
5
Q
whats the pro and con of starting a new business
A
the owner can determine the pace if growth and change
start up period is slow
