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•Services available to current and prospective small business owners from the SBA include assistance in developing a business plan, starting a business, obtaining financing, and managing an organization.•The SBDC (Small Business Development Centers) matches businesspeople needing advice with teams of retired executives who work as volunteers through the SCORE program.EXERCISE(AACSB) Analysis1.It’s the same old story: you want to start a small business but don’t have much money. Go toand read
the article titled “Business Ideas on a Budget.” Identify a few businesses that you can start for $20 or less (that’s right—$20 or less). Select one of these business opportunities that interests you. Why did you select this business? Why does the idea interest you? What would you do to ensure that the business was a success? If you needed assistance starting up or operating your business, where could you find help, and what type of assistance would be available?2.Why do some businesses succeed while others fail? Identify three factors that you believe to be the most critical to business success. Why did you select these factors? Identify three factors that you believe to be primarily responsible for business failures, and indicate why you selected these factors.5.8Cases and ProblemsLEARNING ON THE WEB (AACSB)Would You Like to Own a Sub Shop?How would you like to own your own sandwich shop? You could start one on your own or buy one that’s already in business, but an easier way might be buying a franchise from SUBWAY, the largest fast-food franchise in the world (even bigger than McDonald’s). SUBWAY began in 1965 when seventeen-year-old Fred DeLuca opened a tiny sandwich shop in Bridgeport, Connecticut, hoping to put himself through college. As it turns out, his venture paid off in more ways than one. By 1974, DeLuca was franchising his business concept, and today, there are more than fifteen thousand SUBWAY franchisees in some seventy-five countries.Go to to link to the SUBWAY Web site and learn more about franchise opportunities with the company. After reviewing the information provided on the company’s Web site, answer the following questions:1.
What do you have to do to get a SUBWAY franchise?
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Management, business owner, Small business Administration