Reflection 2 : STEP 1: Read Chapter 4 - Organizing a Business- The Business plan and Chapter 5 Buying a Business and Franchising in your course textbook

STEP 2: Write a reflection of your own thoughts, feelings, beliefs, and experiences regarding the scenario/questions below. This should be approximately one (1) page (350 - 500 words). There are no right or wrong answers. You are expected to explore your own experience and recognize your own strengths and limitations.

Scenario/Questions Your textbook lists the potential advantages (pg 109) and disadvantages (pg 110) of starting a business from scratch, the potential advantages (pg 171) and disadvantages (pg 174) of buying a business, and the advantages (pg 192) and disadvantages (pg 195) of franchising.

For your reflection, consider if you believe you would be better to start your own business, to buy a business or to invest in a franchise. Based on the lists from the book, what qualities would make you believe one is better for you than the others? As you do this, conduct an introspective analysis of yourself. Reflect on what qualities you feel you possess that would work better in your chosen model. How will these characteristics contribute to your future success?