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methods of business establishment and expansion

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by

li bree

on 22 October 2012

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Transcript of methods of business establishment and expansion

methods of business establishment and expansion setting up a business 'from scratch' buying a franchise purchase an existing business Franchising is the practice
of using another firm's
successful business model. The franchise is an alternative to build 'chain stores' to distribute goods. advantages:
it is suitable for anyone who wants to run a business without a specific business idea;
recognized brand name and trade marks;
the franchise can offer support and help;
financing will be easier;
the relationships with the suppliers have been established; disadvantages:
high initial cost;
profits are often shared with the franchise;
The franchisor might go out of business;
restrictions in the franchise agreement; establish
a
business (cc) image by nuonsolarteam on Flickr step 1: write a business plan
step 2: get business assistance and training
step 3: choose a business location
step 4: finance your business
step 5: determine the legal structure of your business
step 6: register a business name
step 7: get a tax identification number and
register for states and local taxes
step 8: obtain business license and permits
step 9: understand employer responsibilities Buying an existing business may be quicker and easier than starting a business from scratch.
However, it may take time to find the right business. And that the businessman will be taking on the legacy of the previous business owner, so be aware of every aspect of the business. expand a business Business expansion is a
stage of a company's life
with both opportunities and risks. Business growth often carries with a corresponding increase in financial fortunes . the benefit of takeover the benefits of mergers and acquisitions Mergers and acquisitions (M&A) is an aspect of corporate strategy, finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities. acquisition of another existing business;
Offering franchise ownership;
Licensing of intellectual property to third parties;
Joining industry cooperatives;
public stock offerings;
Employee stock ownership plans; Obtaining quality staff or additional skills, knowledge of your industry or sector and other business intelligence.
Accessing funds or valuable assets for new development.
Accessing a wider customer base and increasing your market share.
Reducing competition.
Diversification of the products, services and long-term prospects of your business. increase in sales/revenues
Venture into new businesses and markets
Profitability of target company
Increase market share
Decreased competition
Enlarge brand portfolio (e.g. L'Oréal's takeover of Body Shop)
Increase in economies of scale
Increased efficiency as a result of corporate synergies/redundancies (jobs with overlapping responsibilities can be eliminated, decreasing operating costs)
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