A Business From Scratch Essay (Critical Writing)

Exclusively available on Available only on IvyPanda® Made by Human No AI

Introduction

A Business can either start from a simple project that involves the individual application of small capital to a business this is the business from scratch. Another ownership is from buying an already existing business from a willing buyer. Another still can be owned from the franchise which includes a method which a company uses to help distribute its trademark products through engaging small retail outlets owned by independent individuals (Finell, 2007).

Main body

The pros of a business from scratch are that the business is entirely owned by the person and he has full control of his business decision-making and selling products of choice this gives a maximum effort in the relationships with customers. The cons are that the owner handles all the loss of the business alone and this creates a risk of maintaining this business since severe loss can lead to failure. The pros of buying an existing business are that one will have an already stocked business and will not struggle to get documents of acquiring a business and they will still have total control of these businesses. The con is that one cannot know the processes and plan of running such business in that particular area or they will not know the issues that made the owner sell such business (Fred, 2008).

For the pros of a franchise, the new management will bring in new development to the various sub-businesses thus creating an improvement in marketing strategy and in selling the company’s products. Its cons are that the ideas by the new management might not be appealing to the sub-run businesses under that umbrella thus creating a misunderstanding between employers and thus low sales. These businessmen do not have the same approach since they handle customers at different levels and will do it again because of one on one contact with customers. For the existing business one, they would not because of the reasons under which the business was sold and lastly for franchise one it is difficult to have a hands-on activity. The surprise is everybody will want to start over again to improve the business further.

References

Finell Dorothy.The area of expertise Shop: How to Create Your Own exclusive and Profitable Retail commerce, AMACOM American Mgmt Assn. 2007.

Steingold Fred. Legal Guide for opening & Running a Small company, Nolo Publishers. 2008.

More related papers Related Essay Examples
Cite This paper
You're welcome to use this sample in your assignment. Be sure to cite it correctly

Reference

IvyPanda. (2021, September 26). A Business From Scratch. https://ivypanda.com/essays/a-business-from-scratch/

Work Cited

"A Business From Scratch." IvyPanda, 26 Sept. 2021, ivypanda.com/essays/a-business-from-scratch/.

References

IvyPanda. (2021) 'A Business From Scratch'. 26 September.

References

IvyPanda. 2021. "A Business From Scratch." September 26, 2021. https://ivypanda.com/essays/a-business-from-scratch/.

1. IvyPanda. "A Business From Scratch." September 26, 2021. https://ivypanda.com/essays/a-business-from-scratch/.


Bibliography


IvyPanda. "A Business From Scratch." September 26, 2021. https://ivypanda.com/essays/a-business-from-scratch/.

If, for any reason, you believe that this content should not be published on our website, please request its removal.
Updated:
This academic paper example has been carefully picked, checked and refined by our editorial team.
No AI was involved: only quilified experts contributed.
You are free to use it for the following purposes:
  • To find inspiration for your paper and overcome writer’s block
  • As a source of information (ensure proper referencing)
  • As a template for you assignment
Privacy Settings

IvyPanda uses cookies and similar technologies to enhance your experience, enabling functionalities such as:

  • Basic site functions
  • Ensuring secure, safe transactions
  • Secure account login
  • Remembering account, browser, and regional preferences
  • Remembering privacy and security settings
  • Analyzing site traffic and usage
  • Personalized search, content, and recommendations
  • Displaying relevant, targeted ads on and off IvyPanda

Please refer to IvyPanda's Cookies Policy and Privacy Policy for detailed information.

Required Cookies & Technologies
Always active

Certain technologies we use are essential for critical functions such as security and site integrity, account authentication, security and privacy preferences, internal site usage and maintenance data, and ensuring the site operates correctly for browsing and transactions.

Site Customization

Cookies and similar technologies are used to enhance your experience by:

  • Remembering general and regional preferences
  • Personalizing content, search, recommendations, and offers

Some functions, such as personalized recommendations, account preferences, or localization, may not work correctly without these technologies. For more details, please refer to IvyPanda's Cookies Policy.

Personalized Advertising

To enable personalized advertising (such as interest-based ads), we may share your data with our marketing and advertising partners using cookies and other technologies. These partners may have their own information collected about you. Turning off the personalized advertising setting won't stop you from seeing IvyPanda ads, but it may make the ads you see less relevant or more repetitive.

Personalized advertising may be considered a "sale" or "sharing" of the information under California and other state privacy laws, and you may have the right to opt out. Turning off personalized advertising allows you to exercise your right to opt out. Learn more in IvyPanda's Cookies Policy and Privacy Policy.

1 / 1