Start, Buy Or Join A Business

This short write-up was posted as a comment on another blog:

There are 3 ways to get into your own business:

1. Start a business. Suitable for a person with lots of capital, a big risk appetite in case it fails & with prior experience (hence no need for hand-holding guidance).

2. Buy a business. eg. McDonald's. Subway. Burger King. Suitable for a person with lots of capital but low risk appetite & no prior experience. (That is what he is paying so much money for - the prior experience of the other franchisees aka the training system - otherwise why pay a million to set up a shop to sell just "one" product - hamburgers?)

3. Join a business. eg. Network21 Corp. etc. These companies teach an individual how to duplicate commitment from person to person, instead of franchising shop-to-shop. Suitable for a person with low capital, low risk appetite & no prior experience. (that is what he is mainly paying for - the prior experience of all the business owners before him) Usually, these companies are tied into a brand name such as Nutrilite, Artistry or SA8.