Starting a business 0.0 / 5 ? Business StudiesStarting a businessGCSENone Created by: Musictiger5710Created on: 23-11-16 17:26 Characteristics of and entrepreneur Opportunity spotter, decision maker, , risk taker, creative thinker and strong communicator 1 of 11 Franchising Quick way for an entrepreneur to start a business. Buying the right to use that idea and logo for a share of profits 2 of 11 Looking for a gap in the market Market mapping is a technique 3 of 11 Reasons you might start a business Pursue a interest/hobbie, be their own boss, have a big business one day,wor from home, use new technology or ideas for making a product 4 of 11 Enterprise Using ideas to gain a reward such as profit 5 of 11 Franchisee Someone who buys the legal right of name and logo from a franchisor 6 of 11 Franchise The legal right to use the name and logo of an existing firm and sell the same products 7 of 11 Risk The potential for loss but rewards in business make it calculated gamble. 8 of 11 Franchisor Someone who sells the legal right of name and logo of a company 9 of 11 Gap in the market a business oppirtunity that is either a completely new idea or adds something different to an existing product or service 10 of 11 Entrepreneur An individual with an idea for a business 11 of 11
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