Quick item to blog about today, relevant to those of you out there who might be considering “taking the plunge” and starting/buying a business venture of some kind. One of my local business allies, John Martinka of Partner On Call Network, shared a handout with me that cross-references 26 business factors against three typical entrepreneurial avenues: 1) Starting a New Business; 2) Buying a New Franchise Site; and 3) Buying an Existing Business or Franchise.
As an example of the types of factors discussed in the handout, the chart ranks the availability of bank financing for each of the three types (low, medium, and high, respectively) as well as the possibility of strong growth potential (medium, low, low-medium) and the ultimate chances of ongoing success (low, medium, high) for each venture type. Granted, these rankings might be somewhat subjective and based on just this one firm’s experience, but the information seemed pretty accurate from my outside perspective — and this concise little sheet is helpful in spelling out the risk/reward profile of each of these common self-employment options.
Interested in seeing the other 23 factors outlined on the sheet? If so, John gave me permission to share it with my client base, so feel free to click here if you’d like to obtain a copy. And should you be interested in taking your entrepreneurial pursuits to the next level, of course, check out what John has to offer at the website address above — or drop him a line here to learn more about his services!