mgt418 | undergraduate
Evaluating New Business Opportunities
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Starting Your Own New Business
- Analyze the risks and rewards with starting a business with a new product and/or service concept.
- Analyze the risks and rewards with starting a new independent business with an existing product and/or service concept.
- Compare and contrast legal business structures such as: sole proprietorships, partnerships and corporations.
- Estimate the return of investment and level of risk of starting a new non-franchised business.
Sources of Assistance for Various Business Types
- Identify sources of legal assistance.
- Determine sources of traditional and nontraditional financial assistance.
- Describe the advantages and disadvantages of business ownership for women, minorities, and veterans.
- Describe the advantages and disadvantages of home-based and Web-based businesses.
Buying an Existing Nonfranchised Business
- Identify the elements of purchasing an existing business that are negotiable with the seller.
- Identify appropriate due diligence issues for purchasing an existing business.
- Evaluate the business model of an existing business.
- Assess the value of training available from the seller.
- Analyze the advantages and disadvantages of purchasing an existing business.
Evaluating Trends and Opportunities
- Identify the differences between an idea and an opportunity for a new business.
- Evaluate environmental and local trends affecting business opportunities.
- Evaluate the risks and rewards associated with entrepreneurial opportunities.
- Identify your personal strengths and weaknesses as an entrepreneur.
Buying a Franchise
- Identify issues related to due diligence and Franchise Disclosure Documents (FDDs) when buying a franchise.
- Evaluate the business model of a franchise.
- Analyze the advantages and disadvantages of purchasing a franchise.
- Assess the value of training provided by the franchisor.
- Assess the follow-up support provided by the franchisor.
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