Fatma has always loved to cook and is interested in starting a catering business. Being aware of the failure rate of new businesses, she is considering buying an existing catering business, Tasty Caterers that is up for sale. The Tasty Caterers claim that the business is highly profitable, but Fatma has her doubts. She wonders why the owners of Tasty Caterers would be so interested in selling the business if it is such a money-maker. Furthermore, the price that they are asking seems high to Fatma. Without any formal training in accounting, Fatma asks a friend, Rawan, for advice. Q) If Fatma decides to purchase Tasty Caterers, what plans do you think she must have in place? Give specific examples of each of the three types of planning with regard to Fatma's business.
Fatma has always loved to cook and is interested in starting a catering business. Being aware of the failure rate of new businesses, she is considering buying an existing catering business, Tasty Caterers that is up for sale. The Tasty Caterers claim that the business is highly profitable, but Fatma has her doubts. She wonders why the owners of Tasty Caterers would be so interested in selling the business if it is such a money-maker. Furthermore, the price that they are asking seems high to Fatma. Without any formal training in accounting, Fatma asks a friend, Rawan, for advice.
Q) If Fatma decides to purchase Tasty Caterers, what plans do you think she must have in place? Give specific examples of each of the three types of planning with regard to Fatma's business.
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