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Want to start your own business but don't know where to start? There is help.

Posted in Beyond Finances on February 21, 2020

Many wish that they could go into business for themselves. Sure, it’s hard work, but many would rather pursue their own dream instead of making someone else’s happen.

If you’re looking to start a business, there are typically four avenues available to the wannabe entrepreneur.

  • Starting a new business from scratch – This involves drawing up a business plan and getting a new business off the ground.
  • Buying an existing business – Perhaps there’s already a business with a positive revenue stream in an area that you’re interested in.
  • Consulting and service – If you have a skill that can help others in some capacity, perhaps consulting is an option for you.
  • Buying into a franchise – If marketing isn’t your strong suit, then maybe a franchise that already has brand recognition is the way to go.

And there are pros and cons to each, and the one that is most appealing to you can be influenced by many different things.

If you’re one who dreams of running your own business, there are resources to  help out there. FranNet offers consulting to people who are looking to start a business, especially those who are considering a franchise.

Other resources like Bizbuysell is a good place to start and can give you some idea of what’s out there. In addition, there are websites that are great resources for those looking to hang their shingle. Score and AmericasSBDC are two that can be helpful to any new entrepreneur.

What other helpful hints to you have for those who want to start a business of their own. Leave your ideas in the comment section of this blog post.

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