Expenses Except Initial Payment Discussion Respon

responses to discussion question 150 words

Michael

After making the decision of wanting to go into business for yourself it is then important to decide how you want to go about doing that. one option is creating a brand new business from scratch, in this case the advantage would be that you can literally make the business whatever you want. The disadvantage of this is that you would have to provide financial support to the business by yourself in order to start it. Another possible business to start is a franchise, which is an individual “pays fees and royalties to a parent company in return for the right to become identified with its trademark, to sell its products and services, and often use its business format and system” (Scarborough, 167). Advantages of a franchise include having the support and financial assistance of a parent company, as well as having a proven product and business format. A third option when it comes to starting a business is buying an existing business, this can be a good option when looking to own a business but not wanting to do the work of establishing a new business. The benefits of buying a business, especially if it is a turn key business that is already financially successful. Is that if the ball is already rolling the essential components of the business such as employees, equipment and inventory are already there. Disadvantages can also come with purchasing a business, such as the debts that may come with it. The equipment, employees and equipment may also be ill-suited to produce a profit, in which case you would need to sell and then refurbish. In my opinion I think the most efficient business to start would be a franchise, it allows for a stable environment with a minimal financial risk. It also gets the foot in the door of learning what it means to own a business which would give you the knowledge for future business endeavors

Katy

The idea of starting a new business venture can be a terrifying thought to someone who has never ventured to take on that responsibility. To franchise simply means to use a branded name of a known company and paying a monthly or yearly franchise fee. To actually start from scratch means coming up with your company name, your products, etc. There is a lot more work to put in if a person wants to start from scratch.

One of the big advantages of buying into a franchise is the name recognition. Franchise owners will not have to market as much if consumers are familiar with the name. Another great advantage is not having to worry about the business going under. For example, Salar states, “entering in an industry, the most important thing for entrepreneurs is the lower risk for failure. There is a big difference in failure rates for entering in a new market and entering in a known market” (Salar 2013).

Unfortunately, there are some disadvantages to consider when owning a franchise, like adhering to the rules of that particular company or paying a high franchise fee. Not only does a person have to pay the upfront franchise fee, but there is future fees as well. Salar says, “franchisees have to some expenses except initial payment like rent royalties, advertising fees, equipment maintenance, employees, insurance and inventory, a percentage of the gross sales to the franchisor” (Salar 2013). A percentage of what you make will go to the franchise.

Purchasing an existing business would almost be like owning a franchise expect for all the fees associated with the bigger brand name. Consumers know the established business, products are already in place, and it would be taking over ownership.

Turning an idea into a business venture to start a business from scratch takes a lot of guts and money. I for one, would rather purchase an existing business. Marketing, product, and real estate are some of the major start up costs that need to be calculated before any return on interest comes into play. A person would need to will-power and money to make this dream happen. It can be an exciting and scary thought, but the reward of having a business built from the ground up can overcome the fear of failing. One of the disadvantages to starting a business from scratch is making sure a form marketing plan is in place. If the brand name and products are not being marketed, there will be no profits.

Kinley

*Sir Gawain and the Miller were walking through the park*

“Today is a gorgeous day ,man. What I’d give to be on the beach right now” Sir Gawain said, looking up at the sky.

“The beach is my favorite place to be. The girls are always hot.” The Miller says, winking at Gawain.

“Is that all you think about? Girls?”

“Pretty much” the Miller says while kicking a rock, “girls and the bar!” he adds with a laugh.

“Do you ever get tired of that lifestyle? Like don’t you ever want to, like, stop? And do something meaningful?” Sir Gawain asks curiously.

“Why would I get tired? I’m living my best life. I don’t have to go back and forth with nobody.”

“Don’t you feel like you’re missing something? A purpose?” he asks.

“Nope. Sorry not all of us are like you and are, like, super wise and crap.” the Miller says, rolling his eyes.

“Well, maybe you should try to find some meaning in your life.” Sir Gawain said. He was surprised when he realized that he meant it. For The Miller and himself. “Maybe we can go to church on Sunday’s together? Try giving this whole God thing a shot.”

“What in carnation. Why would I go to church? What makes them so special anyway?”

“Why not go? You can pretend all you want but hanging out in bars every day is not fulfilling you. Why not try something else? With someone else? We can be in this together.” Sir Gawain faces the Miller and holds his hand out.

Giving it some serious thought, the Miller finally shakes Gawain’s hand. “Oh what the heck. I’m not getting any younger, might as well try it out. If not, you’re buying me drinks for a week.”

Olivia

*Chaucer leaving a voicemail for Gawain*

Chaucer: Gawain, I’ve got to talk you about something, call me as soon as possible!

*Gawain calling back Chaucer*

Gawain: Hey man, heard the voicemail, what’s on your mind?

Chaucer: Lets meet up for some coffee and I’ll tell you all about it.

*Chaucer and Gawain meet up*

Chaucer: So, there’s this chick that I am trying to take out and I just need some help on how to talk to her and I hear you’re the man. Everyone is always talking about how the ladies love you.

Gawain: You’re right Chauc, the ladies do love me but if I really want to help you out, I’ll tell you women aren’t worth it. All they do is bring us down, so if I were you I’d leave her be.

Chaucer: You’re right, women can be delicate and spiritual sometimes but most of the time they can be overbearing. The only thing is I already gave her my number and asked her on a date.. I can’t bail on her now.

Gawain: Oh come on, you live with that monk guy that basically does whatever he wants and he’s still “walking with Christ”. I’m sure if you ghost her one time, God won’t smite you down where you stand.

Chaucer: At least I don’t think that women are the “downfall” of men. You know, some day you’re going to get married to one of them, bet you won’t still think that.

Gawain: Most of the people I surround myself with are honest, trustworthy people unlike your friends that steal money from followers of Christ, steal liquor from those just trying to get by, and resent the underprivileged supporters of the church.

Chaucer: All I needed was some friendly advice and now you’re firing shots at me?! I thought you’d be a better friend than that.

Gawain: I’m sorry, I just happen to think you’re making a poor decision just like Adam and Eve did. But you shoot your shot and wish you luck. Maybe God won’t let down this time.

Chaucer: Your devotion to Him shouldn’t be so wavery Gawain, maybe you should start coming to church with me on Sundays again. I think there’s a sermon on how love and lust in an unhealthy way could lead to sinfulness. I think it’d be a good one for the both of us.

Gawain: It’s a plan, see you Sunday!

 
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