In the near future, if everything works out, I am also interested in becoming a franchisee of a healthy food and/or healthy drinks type of business or maybe a spa, but I also love dogs, maybe a pet shop or a pet hotel…I think technology is also really cool…or should I just open up a small bakery, hmmm sort of something like you find in Europe…I have no idea, can you help me:

a. How I can determine what is best suitable for me? (5 Points)

b. How would I choose the business I want to invest in or start up? What kinds of things would I need to look at in these businesses?

c. How would I know if these franchises or small businesses are selling at a good price to buy – I do not want to be ripped off!

d. Also, if I wanted to startup my own bakery how would I go about determining the startup cost in general?

a). Being diversified and dynamic is good and one needs to be dynamic in order to achieve success in life. It is always advisable to follow the dream and pursue the goal. One should always follow one's passion and make a career out of it. If technology thrills us that one can be a technocrat. If one loves animals and is very fond of having pets, then it is advisable to open up a pet shop or pet hotel. Life offers various option if one has passion for something.

b). Before staring a business, thorough market study must be done. It is important to study the market in your area to forecast the trend in the business. Also one's strength and weakness must also be kept in mind while establishing a business. One's experiences interests also count a lot and may be proved beneficial.

c). Doing a fair and proper market analysis will be a great idea before taking a franchise.

d). If you wanted to start up your own bakery, you need to go out in the market and do a study of the potential business place where you want to open the bakery shop and what bakery item will be in the menu list. Also we need to consider the human labor needed and also the machinery or equipment cost that will be used in the shop.