advantage of small business

Freshman (College 1st year) ・Business ・MLA ・1 Sources

The benefits of the small business that allowed Mary Ellen to set up her business was better access to lending facilities as small business quickly obtains loans (Applegate, page 2-6). Another is the use of innovations, as it is easier to integrate the same into the operation of a small company. Improved economic prospects make people confident about investing in themselves and their small businesses. Accessibility to services and business tools has allowed her to set up a business. Others provide personal loyalty, tailored customer experience, and ease of flexibility under shifting circumstances.

Which disadvantages of small business did Two Men and a Truck have to overcome? If you had been part of the business at the start, what suggestions would you have offered for overcoming these issues?

The disadvantages they had to overcome are low bargaining power, small budget that cannot cater for everything and less recognition due to less visibility (Applegate, page 9-17). They also had to content with the problem of price wars from established companies. As a solution to overcoming these problems, the two men and truck needed to focus more on the cost aspect of running their business. They needed to ensure that they lower their costs so as to offer competed prices. They should have embraced social media for purposes of marketing to overcome the visibility problem. Either, they should have curved their nice so as to overcome the problem of price wars from the already established organizations using price wars to overcome competition.

Do you think it’s a good idea for Two Men and a Truck to offer franchises outside of North America? Why or why not? What kinds of questions would international franchisees to be likely to ask the company?

Two men and a truck are justified to offer franchise services outside North America to enable them grow and take advantage of the ever-changing economic conditions (Applegate, page 23-32). Different economies experience different changes that affect businesses either positively or negatively. Therefore, the company needs to expand to shield itself against these effects. One major question international franchises are likely to ask is how the company copes with the different laws in the areas it operates. Either it has to contend with the question of whether it employs ethical practices in its activities.

Work Cited

Applegate, Jane. 201 Great Ideas For Your Small Business. Hoboken: John Wiley & Sons, 2011. Internet Resource.

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