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Routes to business:

  1. Create a business from scratch. (most risky).
  2. Buying a franchise of an already existing business. (least risky and low reward)
  3. Buying an existing business. (moderate risk and moderate reward).
  4. Joining family business. (moderate risk and moderate reward).

Franchising:

A business strategy conducted by 2 parties in such a way that the franchisee operates in accordance with the rules laid out by the franchiser.