You asked: Which of the following is a way to start business with established customers?

Which of the following is most likely to be achieved as the result of starting a business with established customers?

Which of the following is most likely to be achieved as the result of starting a business with established customers? Immediate cash flows. When you start with established customers, you know that you will immediately have cash inflows.

When starting a business there are two types of costs they are _____?

Once your business is up and running there will be two types of start-up costs that you record on the balance sheet – fixed and variable business costs.

Which of the following is a disadvantage of purchasing an existing business?

its location may have become unsuitable; equipment and facilities may be obsolete; change and innovation are hard to implement; inventory may be outdated; accounts receivable may be worth less than face value; and the business may be overpriced. You just studied 58 terms!

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Which of the following can be found in the business plan?

Your business plan needs to detail how your business will be capitalized, managed and marketed. A typical business plan includes all of the following sections: Executive Summary (always prepare last), Business Description, Product/Service Description, Marketing Plan, Operational/Management Plan, and Financial Plan.

Which of the following is one way that businesses use marketing information?

What is one way that businesses use marketing information? … By monitoring its sales and its customers’ buying habits, what is a business often able to identify? Popular products. XYZ Company noticed that the sales of iPads in blue have increased in sales.

What are startup costs business?

Startup costs are expenses incurred before the business is running. These are the bills and expenses you will need to cover leading up to the launch of your business.

What are startup costs examples?

What are examples of startup costs? Examples of startup costs include licensing and permits, insurance, office supplies, payroll, marketing costs, research expenses, and utilities.

What are business costs?

Definition: The Business Cost includes all the costs (fixed, variable, direct, indirect) incurred in carrying out the operations of the business. … The firms compute their business cost to determine the profit and loss and for filing returns for income tax. It is also used in several other legal procedures.

When should you start a business?

When is the Right Time to Start a Business?

  • When you have a jumping off point for your customers. …
  • As soon as possible. …
  • When you’ve honed in on the best idea. …
  • When you feel comfortable internally. …
  • When you’ve set a date. …
  • When you’ve generated some buzz.
  • When you’ve made some early sales. …
  • When people are telling you you’re ready.
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What type business should I start?

Here are some of the interesting business ideas in India for starting a small business:

  • Automobile Repairs. …
  • Tiffin Service. …
  • Electronics Repair. …
  • Blogging as a small business. …
  • Private tutoring. …
  • Pet-care service. …
  • Educational mobile apps. …
  • Bake the cake.

What do you need to know before starting a business?

Here are the 10 things you need to do before starting a business

  • Develop a powerful message.
  • Focus on the customer and fully understand the market.
  • Start small and grow.
  • Understand your own strengths, skills, and time available.
  • Surround yourself with advisors and mentors.
  • Get a mentor.
  • Write a business plan.
  • Know your numbers.

How do you do when you start a business by buying an existing business?

How to Buy an Existing Business (7 Steps)

  1. Step 1: Find a business to purchase.
  2. Step 2: Value the business.
  3. Step 3: Negotiate a purchase price.
  4. Step 4: Submit a Letter of Intent (LOI)
  5. Step 5: Complete due diligence.
  6. Step 6: Obtain financing.
  7. Close the transaction.

Which of the following is a reason for buying an existing business?

Buying an established business means immediate cash flow. The business will have a financial history, which gives you an idea of what to expect and can make it easier to secure loans and attract investors. You will acquire existing customers, contacts, goodwill, suppliers, staff, plant, equipment and stock.

Which of the following is an advantage to buying an existing business?

Track record—Buying a business gives you an established customer base, team, business plan and operation. No need to start from scratch. Income—The best acquisition targets are likely to already have solid sales and profits.

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