The document provides information about buying an existing small business, including the pros and cons, questions to ask the business owner, and factors to consider. It discusses evaluating business opportunities and industries, conducting due diligence, common mistakes, and choosing between a franchise or non-franchise business. The key takeaways are to thoroughly research any potential purchase, ensure you have sufficient capital, understand the work involved in owning a business, and determine if a franchise or starting your own business is a better fit based on your goals, experience, and risk tolerance.

8. Reasons People buy a Franchise 33% 27% 19% 16% 1% 3%

9. Describe Your Ideal Business

14. Your Choice √ X √ X √ Non Franch X √ √ √ X Franch √ X X X √ Startup Freedom Brand Answers Support Cost

15. Your Ideal Business Successful Foundation Product or Service Growth Answers Right For You Systems Transferable Brand Profitable

16. The Journeys Survival Growth New Change $$ Challenge Expectations Support Strategy Expertise Courage Investors

17. Building Wealth The Key to Building Wealth in Small Business

20. What’s worth more? Appraise business

21. Risk and Return Risk % Return pa Bonds Commercial Property Bank Shares Small Business 3 5 8 10 20 Residential Property 30

22. Risk and Return by Business Type Low ROI % Growth Industry Larger businesses Strong Brand Protection by Law Ongoing Income Personal selling Unfashionable Reliant on owner Easy entry by competitors Little Infrastructure High 50-90 30 15-20

23. Risk and Return by Industry Low Service Retail Cleaning Real Estate Small Manuf. ROI % High 50-90 30 15-20 Property Management Caravan Park Franchise Mortgage Broker Financial Planner