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Review & discussion questions Identify the six main pathways to gaining entrepreneurial experience. What are some examples of bootstrapping that you could use in your business idea? FNMTI What is a loss-acquiring company and does this type of business exist in your country? Who are minipreneurs and what kinds of businesses are they engaged in? What is the new-new approach to starting a new venture? How does this approach differ from a new-old approach! How can an individual who is thinking of going into business evaluate the financial picture of the enterprise? Use the methodology of Table 6.3 to prepare your answer. In addition to personal and financial issues, what other factors should the prospective owner purchasing an ongoing business be concerned with? Describe at least four. What are the advantages of buying an ongoing business? Explain them. 9 What probing questions need to be answered when deciding whether to buy a business? 10 How should a prospective buyer examine the assets of a company? Explain. 11 What is meant by the term "franchise"? 12 In a franchising agreement, what is the franchisee often called on to do! What responsibility does the franchisor assume? 13 What are some of the major advantages of franchising? Cite and explain three. 14 What are some of the major disadvantages of franchising? Cite and explain at least two. 15. How can a prospective franchisee evaluate a franchise opportunity? Explain. 16 In evaluating whether or not to buy a franchise operation, the potential investor should ask a series of questions. What questions should the potential investor ask about the franchisor, the franchise, the market and the potential investor (himself or herself)? 17 How is a social venture different from a conventional business? 18 is the social enterprise development cycle different from that of a regular business? 19 What are the three social enterprise models