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Franchising is a way for small business owners to benefit from the economies of scale of the big corporation (franchiser). McDonald's and Subway are examples of a franchise. The small business owner can leverage a strong brand name and purchasing power of the larger company while keeping their own investment affordable.
According to the Small Business Administration, a microenterprise or microbusiness is defined as a business with 1-9 employees. They are the most common type of business. As a subcategory of small businesses, with sales and assets valued at less than $250,000 per year, they generally have less than five employees, including the owner.
It can be tempting to rush through each stage of the process to scale your business quickly and attempt to bring in the cash flow required to get you to the next level. 9 Brands That Can Help You ...
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Exclusive: 29-year-old self-made millionaire Lucy Guo follows up her unicorn Scale AI with a $40 million Series A for new creator economy venture, Passes Rachyl Jones February 28, 2024 at 12:44 PM
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