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Perception Map Presentation

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Submitted By EZCRUIZIN159
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Perceptual Map Presentation

MKT/421
October 2, 2014

Perceptual Map Presentation
Introduction
Congratulations on the opportunity of purchasing a new Big O Tire franchise. The location you have chosen is a good spot. You will need to raise money for the franchise, marketing research is important to your success, and so is competitive advantage.
Raising Money
It is important to raise $350,000 for the Big O Tires location on 61st avenue and Bell Road. The address is 6195 W Bell Rd in Glendale. The first and easiest would be ask family members and friends. This is just simply a gift, and it works for obtaining business capital. According to Fraser (n.d.), “You have no ongoing obligation to the giver (although you should thank the person and make an effort to maintain good relations.)” It may seem impolite to ask family or friends, but it does make sense to start here. It is important for tax purposes to document the gift, even it is in a letter explaining that the money is a gift (Fraser, n.d.). It is also possible to ask for a business loan from family or friends. A loan is when a person receives money and promises to pay it back, usually with interest over a set period. “For your sake and the sake of the lender, it’s best to set up every loan the way a bank would: with a signed agreement, call a promissory note, and repayment schedule,” Fraser (n.d.).
A small business loan has the possibilities of borrowing up $150,000 of the $300,000 needed to. The SBA express launched in order to lessen the paperwork when dealing with a small business loan (Fitzpatrick n.d.). A decision will be made within 36 hours when applying for the small business loan. Another possibility for a loan is a microloan. According to Fitzpatrick (n.d.), “Microloans, which typically range in size from hundreds of dollars to low six figures, make so much sense for start-ups and struggling

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