7. • Competition posses one of the biggest challenge
• Barriers to entry
• Survival becomes difficult
• Leaves no margin for error
• Gain much needed recognition
9. • Start ups needs substantial amount of money to fund the business
from the beginning
• Ensuring and maintaining a healthy cash flow is important
• Expenditure increases with income
• Finding Investors
11. • Not a part time – Saturday job
• Business owners need to commit extremely long hours in start-up phase
• Owners responsible from grunt work to office managerial responsibilities
13. • Proper planning and preparation before “Open for Business”
• Comprehensive Business Plan
• Everything from supplies to rates should be investigated
• Partnership Decision Making
15. • Problems of just not knowing what is going to happen or what
should happen
• little knowledge of industry
16. The way out…
• With full backing of a recognized brand businesses have higher success rate
• Banks would fund a franchise rather than a completely new business
• Try to do what you do better and cheaper
• Knowing when it will happen and preparing for what’s required are both vital
for success
