You can then build a business that reflects your personality, strengths, interests and capabilities. On the other hand, a new business may also require large investments of time and money before you open your door. Buying an existing business can mean gaining a fully functional operation able to produce revenue from day one. Finally, buying a franchise can provide you with a tested package containing products, trademarks, business systems, procedures and training. Such assets can make franchises attractive even to those with little business experience.
Franchises vary in quality, cost and reliability.
A careful study should be made before investing in one. Which ever path you choose, investigate the options to ensure you have the knowledge necessary to operate your future business and industry. One strategy is to choose an area you already know well or else build on strengths, skills, interests or hobbies you already possess. Another strategy is to keep your day job while developing the skills, products and contacts you will need. You may also want to line up customers before going out on your own.