You are conducting a business startup workshop sponsored by the Small Business Administration. The workshop attendees are all aspiring business owners who are excited and fearful about the prospect of starting their own business. Early in the workshop, you asked the attendees to complete a questionnaire about their major concerns in starting a new business. The majority of the respondents indicated their biggest concerns were limited capital and lack of business experience.Based on these concerns, which of the following business strategies do you think would be most appropriate for these workshop attendees?

Question

You are conducting a business startup workshop sponsored by the Small Business Administration. The workshop attendees are all aspiring business owners who are excited and fearful about the prospect of starting their own business. Early in the workshop, you asked the attendees to complete a questionnaire about their major concerns in starting a new business. The majority of the respondents indicated their biggest concerns were limited capital and lack of business experience.Based on these concerns, which of the following business strategies do you think would be most appropriate for these workshop attendees? ​

Quizplus · Accepted Answer

Starting a business as a franchisee can be a good strategy for those who are new to business and have limited capital. As a franchisee, the business owner is supported by the franchisor in areas such as marketing, operations, and training. Additionally, the franchisee benefits from an established brand and a proven business model, which can help to mitigate the risks associated with starting a new business. This can be a good option for those who lack business experience and are concerned about limited capital.

You Are Conducting a Business Startup Workshop Sponsored by the Small