Question

You and a friend want to open new pet-grooming and pet-services shop. Once established, you intend to open a second store in a larger town 20 miles away. If store number two is a success, you plan to start franchising your company. _____ will probably be the most important source of funds for your new business.

Answer 1

Answer:

Personal Assets

Explanation:

You and a friend want to open new pet-grooming and pet-services shop. Once established, you intend to open a second store in a larger town 20 miles away. If store number two is a success, you plan to start franchising your company. Personal Assets will probably be the most important source of funds for your new business.

When starting a business as a sole proprietorship or partnership, the most likely source of start up fund is the converting your personal assets.

Personal assets are items of value that belong to an individual. They might be tangible personal assets like houses and cars, and also include such financial assets as savings accounts, checking accounts, and retirement accounts.

So in the scenario, the business is likely to start by a combination of savings of the two friends