Business Opportunity

A business idea will need to be 

• Researched

• Prototyped

• Documented

• Processed

Business idea will need to be 

• Refined

• Revised

• Shaped

• Prototyped

Business idea will need to be 

• Viewed

• Tested

• Approved

• Reshaped

A well thought out idea that when utilized can earn a profit and continue to grow.

• Business plan

• Business opportunity

• Management skillset

• Franchise

What matches a Franchise?

• Buyers agree to buy and sell the products developed by the seller or owner of the license

• Follow strict stipulations on where a franchise location can be opened

• Have higher start-up costs

• Offer ongoing support and training

Network marketing

• they recruit other marketers who work under them to create a distributor network

• Make money off of commissions

• They sell the products of another company

• They keep all of the profits

Example of network marketing:

• Target

• Amazon

• Mary Kay

• Walmart

As a business opportunity licensing means

• Anytime you want to use a brand name on your products you must obtain a license to use it

• You sell automobiles and other things that require a license

• You make licenses to sell to people

• I don't know.

To determine viability an entrepreneur needs to look at five factors. 

• Market size, relationships, managing cash flow, management skillsets, passion

• Marketing plan, business plan, size of the location, employee skills, profits

• Manufacturing, Selling, Purchasing, Shipping, Pricing

• All of the above

The reason to research market size:

• To know the demand of the product of service in the location

• To know how much to purchase

• To know how many stores to open