delivered promise of extensive services, advice, and assistance.Market saturation, franchisees are threatened by territorial encroachment.BUYING AN EXISTING BUSINESSBuying a successful existing business is a great advantage for the buyer, because the business may continue to be successful. An existing business may already have the best location, which will become instrumental in the success of the business. Since an existing business already has experienced employees, equipment, suppliers and inventory in place, there may be fewer problems arising at start up. The new owner will also be able to use the experience of the previous owner in the success of the business. All of these factors plus the fact that the business may be sold at a bargain price in comparison to starting up from scratch will enable the new owner to start a turn key operation in a fraction of the time. On the other hand there are many disadvantages incorporated in buying an existing business, such as, the previous owner may have orchestrated improper business behavior. The business location and/or the employees may have become unsatisfactory. Another factor to take notice of is the insufficiency of the equipment and inventory. Buying an overpriced business is a major disadvantage; due to the fact the new owner may never be able to recover profits and/or investments.Product:An item, idea or service that satisfies the need of a consumerPlace:The direct place or method of distribution of the product, any activity involving the movement of the goodsPrice:A key factor in a consumers decision to buy, price affects both sales volume and profits, with the right price high sales volume may be achievablePromotion:Involves both advertising and personal selling, its goal is to inform and persuade current and potential consumers through some mass medium the benefits of their goods or service...
