Chapter 5 - Becoming the owner of a small business. Becoming the owner of a small business. After studying the material in this chapter, you should be able to: Explain how to go into business for yourself, describe the steps involved in the procedure recommended for going into business, describe how to search for and identify a product needed by the public—that is, how to find your niche, decide whether to start a new business, buy an existing one, or buy a franchise, describe the growing opportunities in franchising, explain how to tell if a franchise is right for you, explain the future of franchising.
