From the course: Careers in Supply Chain and Operations

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Start or buy a supply chain business

Start or buy a supply chain business

From the course: Careers in Supply Chain and Operations

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Start or buy a supply chain business

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- When I talk with folks who are making a career transition, they often assume that the next step has to be another job where they're working for someone else. But I think it's at least worth considering the option of owning your own business. As a business owner, you're taking on more financial risk, but you could make a lot more money if you're successful. Being your own boss isn't right for everyone, but for some folks it's the key to professional fulfillment and financial freedom. In general, there are three different ways you can become the owner of a supply chain business. You can buy a business, you can start a new business from scratch, or you can become a franchise licensee. Existing businesses are often sold by business brokers, and they might involve the sale of real estate, such as commercial land and buildings. Since they have a financial history to work with, you may be able to borrow the money you need from a bank, so you don't always need to have a lot of money to…

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