Sell a Concept Once a business has developed a proven formula for success it

Sell a concept once a business has developed a proven

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Sell a Concept Once a business has developed a proven formula for success, it can earn revenue and help others earn revenue by selling the concept as a franchise. According to the website “Be the Boss” ( ), there are 1800 unique franchise systems in Canada that have some 75 000 outlets. A new franchise opens in Canada every 90 minutes, every day. Sell a Talent Actors, writers, dancers, artists, and singers all make a living by selling their talent. Brad Pitt owns his own business: himself. Unlike talented computer programmers or hockey players, who
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Introduction to Business BBI2O-B Lesson 19, page 11 Copyright © 2008 The Ontario Educational Communications Authority. All rights reserved. work for companies or play for teams, Brad Pitt and thousands of others sell their talent to various people at various times. In other words, if you work for one company full time, you are an employee. If you work for yourself and sell your gifts and abilities to numerous other businesses, such as film studios, publishers, and art galleries, you earn revenue from your talent. Sell Knowledge and Ideas Like talent sellers, the sellers of knowledge and ideas work with a number of different businesses, earning revenue by providing advice and suggestions: an idea for a new store design, knowledge about the coffee-drinking market, information on duties and customs regulations for products from South Africa. Public relations people, financial consultants, interior designers, architects, landscapers, and hundreds more businesses all provide their expertise to others for a price. Investments As you learned in Lesson 17, businesses can earn revenue from good investments. They use their surplus cash to purchase other companies, or buy investment products such as T-bills, stocks, bonds, and investment certificates. Venture capitalists earn all of their revenue by investing in new businesses. A significant portion of the earnings of many companies is from their investments. Personal Income and Business Income Most people in Canada earn their money by working for others. These others are businesses. According to Statistics Canada, 16 837 300 Canadians work as employees, while 2 652 500 are self-employed. For the self-employed, their business income is also their personal income, although they spend money differently as a business than they do as a person. Businesses spend money to make money. They invest in major equipment, retail stores, inventory, transportation, and other
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Lesson 19, page 12 Introduction to Business BBI2O-B Copyright © 2008 The Ontario Educational Communications Authority. All rights reserved. products and services, always with the idea that whatever they buy will help increase their profit. Hundreds of businesses earn their revenue by selling to other businesses. This is called business-to-business (B2B) marketing. Most of these businesses are companies you have never heard of, primarily because they market only to the industrial market or the manufacturing sector. Croda Canada Limited manufactures glues, gelatines, and
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  • Summer '19
  • Hamlet, Cheque, The Ontario Educational Communications Authority, Ontario Educational Communications, Educational Communications Authority

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