Blog 5: Questioning Fraud In The Business World

It has been so hard for me to really pin point what I want to do with my life when I graduate college, and by that I mean what job will I strive to get. BUT for now, I have come to the conclusion that I would like to start a franchise of some sort. I drew out a concepts map and had Owning my own franchise in the middle of it. Coming off of it are things like Target Market, Boutique, Hair Salon, Investing.

So, I typed into google, “How to start a franchise.” This lead me to an article all about the requirements and necessities of running a franchise. After reading the article, I gathered some specific steps I personally would need to take before starting. I added to my concepts map things like, financial management, legal documentation, systems, mindset and advisors.

I would first need to run my own business, having a single store or salon and making sure it can be successful before turning it into a franchise. When opening up your own business, it is going to take a lot of financial planning. That being said I then google searched “financial plan for opening up a hair salon.”

In the next webpage that I read, I came across the word fraud. Seeing that word brought me to the realization that fraud happens in business’ all around the world. My next thought was “How do I protect my business from fraud.” That is now my narrowed down, more specific topic for my research project.

 

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