Entrepreneurship--Lesson 3-2 Slides

You have more control over your work

You have a more flexible schedule

You do not always receive a regular paycheck

Your work schedule is always predictable

It helps in understanding the risks and benefits involved.

It is required by law before starting a business.

It guarantees business success.

It eliminates competition.

Franchise fee

Startup costs

Royalty fee

Inventory turnover

Established product or service

Less expensive equipment and supplies

Complete independence

Guarantee of consistency

Satisfaction from starting a business

Less freedom to make decisions

Feeling of triumph when business succeeds

Challenge of creating something new

Risk of failure

Uncertainty about demand for product or service

Responsibility for all decisions

Guaranteed profit