Final answer:
The three ways to acquire a business are starting from scratch, buying an existing business, and franchising.
Step-by-step explanation:
There are three ways to acquire a business:
Start from scratch: This means starting a business from the ground up, creating everything from scratch including the business model, operations, and brand.
Buy an existing business: This involves purchasing a business that is already operating and established.
Franchise: Franchising allows you to purchase the rights to start and operate a business based on a successful model designed by the franchisor.
Each method has its own advantages and disadvantages, so it is important to consider factors such as your financial resources, experience, and personal preferences when deciding which option is best.