E- Journal

This week was a great week to learn a new thing about owning your own business. The subjects that we talked about and leaned this past week are family business take over and buying a business. There are things that we need to keep in mind while look into buying a business that is already running. The first thing is that it will take more money to buy it but the customer base is there. The bad thing about buy a place that is already set up is that you don’t know what the people think about that store or if the store owes more money then you want to get into. We talked about what we need to be careful about a family business and taking over a family business. There too many families that start a business but fail. The most reason why the family business are not successful is that there is too much family in the business. I mean that the owners will let family work in areas that they are not the best at because its family and they needed a job. Or all the time the family has is given to and talking about the business and what to do with it.