Question

You win a small local lottery worth $750,000 and you decide to start your own business. You have three options for starting your business: 1) There is a local business you are interested in that is for sale; 2) you could buy into a franchise that you are really interested in; or 3) you have enough money to start your own business from scratch. State which option you would choose and three reasons why this is the option you would choose to start your business.

Answer 1

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Step-by-step explanation:

2) You could buy into a franchise that you are really interested in that is for sale,

Three reasons why: -

1) Buying into a franchise is basically buying into a pre-established business, so it will offer me some leverage and also help me to get settled in the business within a short period.

2) I already know a lot concerning the business and I also love to be active in the business a lot, it will be a good decision to invest the money in a business that I like.

3) Franchises often make more money than a new start up business,