If you have finished your Assessment and decided you want to establish your own business, welcome to the world of those who see what others do not see!

Now, the next step is determining which type of enterprise is right for you, developing a business plan, and analyzing your capital needs for establishing and operating your enterprise.

Now you have to set clear and precise goals to trace the route your business will follow during at least the first five years. Based on those goals, you will determine the resources you will need to embark on your vision.

Those goals should be a part of your business plan. This important document is not merely another paper you have to submit to the bank in order to obtain a loan. The business plan should be a clear guide that calls for analysis and planning. A detailed and realistic plan will contribute to your success and will allow you to foresee the possible risks that your business could face, especially in these times of economic uncertainty.

This section provides useful information to help you develop your business plan, determine whether you should start from zero or purchase an established business. Perhaps a franchise is your best option.
 

How to find your ideal business

No matter the reason, the ideal business for you must be one that you love and that you will enjoy even in difficult moments.

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Developing a winning business plan

The Small Business Administration has estimated that half of new businesses close their doors during the first five years.

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Should I start from scratch or buy an established business?

In these times of harsh economic realities in the world and Puerto Rico, there are many businesses that are closing or whose owners are willing to sell at a price that could be attractive to an entrepreneur in search of opportunities.

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The pros and cons of buying a franchise

Franchises are a good alternative for people who want to establish a business using a proven model.

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