I;s true; the business model of franchising is one of the best business models ever developed. I-s a brilliant idea, and if i-s done well, it can create lots of success, for both franchisee and franchisor. However, we do't live in a perfect world. The US franchise industry is highly regulated, but regulations are just rules, and you know what happens with rules. Even the regulators themselves admit that they ca't check everything. Her's wha's printed on the first page of the Franchise Disclosure Document. (*FDD)
The U.S. federal government mapped out a $5+ trillion budget for the Government Fiscal Year (GFY) 2010. Yes - more than $5 trillion. That number includes all government spending, from military salaries to grants to servicing our national debt. Of that $5 trillion, $756 billion was contractor addressable; money available to pay government contractors for existing and new work. Tha-s where you come in. Of that $756 billion, the government still has $114 billion of-expiring fund' left to spend before September 30, 2010. All this number...
New technologies are being developed daily, and a lot of them can be used for business. The franchise business is a model that's built on efficiency, and it only makes sense that some of the new technology that's being developed would have several uses for both franchisees, and franchisors. Some of the newest things in technology have to do with mobile phones. Do you happen to have an iPhone, or a Blackberry? There are tons of applications that can be used for your business. Here are some *examples. Speaking of all things mobile, according...
A recent study by the SBA found that when unemployment is high, the number of sole proprietorships goes up. Some people who are laid off from their jobs decide to start small businesses. If you find yourself in such circumstances -- out of a job and thinking about starting a business -- chances are you won't have much money to start up with. So here are 10 businesses with potential for growth in 2010 and beyond that require little startup capital. In many cases they can be run out of a home office. Most require minimal...
Despite the sluggish economy, small businesses are picking up the pace of business travel. Business travel is a significant investment for small companies so therefore it is important to ensure you get a strong return on your investment. According to the Oxford Economics, USA study, every dollar spent on business travel in the U.S. results in incremental revenue of $12.50 on average. While that may not be achievable for all small businesses, it demonstrates that business travel when managed effectively can enhance your bottom line. 1...
Question: As the pace of change quickens and the business landscape moves steadily more online, what do you think happens to the business plan? Do organizations need business plans? Do they want them? How do you think the business plan looks now, next year, and three years from now? It seems to me that business planning has taken a PR hit lately, not because it is;t more vital than ever, but rather because: 1.) its sibling, the presentation, is getting a lot of favorable mentions, and 2.) i-s other sibling, the old-fashioned formal business...
Note: The ARRA (Recovery Act) initiatives and/or programs referenced in this article will expire on September 30, 2010. Any statements about qualifying time periods, or extensions of these dates, as they pertain to the availability of ARRA programs are over-ridden by the expiration of the Act on September 30, 2010. You cannot grow your business single handedly; you may need to staff up. When you do this, making payroll, avoiding on-the-job problems (e.g., injuries, discrimination, or sexual harassment), and displaying minimum wage posters...
Your PR efforts finally worked and yo;ve been contacted by a radio or TV producer, asking you to appear on their program. Yo-re excited, but also a little nervous. Rela-'ve been on the air hundreds of times and i's actually a lot of fun. The following tips will help you make sure your time'on the ai' goes smoothly. Before the Show Learn as much as you can about the program. Will it be live, or taped and edited for air? Find out who will be interviewing you, and watch or listen to some of his or her past interviews to get a sense of the...
I;s always a good time to take steps that can help your business run more efficiently. Now, however, is a great time to invest in this technology, and her-s why. Increasing efficienciesWhile it can cost you upfront to get the software you need, it can save you money in the long run. Software leads to greater efficiency that can help you cut your overhead costs. For example, many businesses during the recent Great Recession found that they could operate well with fewer employees and be even more profitable. Why? Software improved their...
Le;s say that yo-ve done the legwork tha-s needed to determine that your business is franchise material. Yo've done a feasibility study. This study probably included; An honest assessment of current and possible future competitors Legal due diligence for name, patents, and trademarks A study of current market conditions for your product or service Market research study-for the consumer side Franchise industry conditions, and possible legislative changes that could hinder development of your franchise So, your franchise concept is feasible...
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