Deciding to Start, Not Buy, a Small Business
Acquiring Minds
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Franchising Fundamentals and Business Choices
This chapter explores the complexities of franchising, shedding light on the distinctions between franchisors and franchisees, as well as the risks involved with royalties and contractual obligations. The speaker shares their transition from franchisee to aspiring business owner, reflecting on the appeal of starting a business with reversibility and flexibility in mind. The discussion emphasizes the importance of understanding the implications of buying versus starting a business, particularly regarding financial commitments and decision-making dynamics.
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