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Use Your Business Cards - Do Not Bin Them! How many people start a new business, print 1000 business cards and then use only a fraction of them before they change their company logos or artwork? What happens then? You guessed right… the cards get binned when the next batch arrives with the new design. Here are Some Clever Ways that You can Use Your Business Cards: Staple one to each brochure you send out - if somebody needs your products or services in the distant future and they find your brochure, they will kn... 9 Ways To Love Your Business More There comes a time in every business owner's life when they feel down or just simply bored with the business they are in. Doing the same thing every day will eventually lead to fatigue no matter how exciting the business was in the first place. Here are some ways to reignite the passion that you had in the early days: 1) Take a break. The business will manage without you for a few days and you will come back fresh and ready for the challenges ahead. The common excuse fo... Starting A Take Away Business The main types of take away businesses include Chinese, Indian and fish and chip shops. This is a long hours, hard business to manage but if you find the right location it is still possible to make a killing. Your location will affect the times you do the most business. If you go decide to open in an industrial area then most of your sales will be done during the week days before 9:00am, around lunch times and between 5:30pm and 7:00pm. Depending on the industrial area it ... Starting A Wholesale Business In a wholesale business, you basically act as a middleman, buying goods from manufacturers and distributing them to retailers. Most manufacturers only supply minimum full pallet loads, but prefer it if the distributors buy a whole container at a time. In 1982, I left school and started a wholesale business with my father supplying packaging to the retail trade. We initially started supplying paper bags, potato bags & carrier bags. The retailers kept asking us to increase o... Combating Loneliness On A Business Trip Business trips are often necessary for a small business owner. They can be extremely boring and often a lonely experience, but they need not be! If you join business networking platforms like Ecademy & Ryze you really do have a friend in every city. Next time you are traveling by yourself why not get in touch with other members that live in the same town? The best way to find the good restaurants, lively bars and cultural places to visit is by meeting local business people... Protect Your Small Business From Bad Debts Does your business suffer from bad debts? Sending regular reminders to your customers via statements will definitely help to collect outstanding debts more quickly. Sometimes a quick phone call or email reminder once the debt is overdue by a few days is all you need to receive payment. In my previous company when my payment collection processes were slack customers recognized this and then chose to pay late. As soon as I improved the collection process, most of the monies ... How Viable Is Your Business Model Or Idea? If you employed people including managers to run every aspect of your business would you still be in profits? If you answered yes, then you passed the first test of being a viable business for the longer term. 1st Test of Viability Most businesses make or show a little profit mainly because their owner and founder is working a 90 hour week and taking out very little. Will your business still make profits if you removed yourself from the equation and paid proper salaries... In Business, Are Men More Ambitious Than Women? I am friends with many business owners and one thing I have noticed is that the men are generally more ambitious than their female counterparts. The driving forces behind starting their business tend to be different as well. Many business women that I know place a higher value on their business relationships then men, and often place a greater emphasis on family, security and work life balance. They tend to reach their comfort zone a lot quicker once the business is genera... Review Of Business Opportunities At The Franchise Exhibition The venue for the franchise exhibition was the GMEX. It has a lovely location, situated in the heart of Manchester and surrounded by beautiful buildings both old and new. There are lovely restaurants, bars and cafes all within easy walking distance. The exhibitor list at the franchise exhibition in Manchester was wide and varied with businesses opportunities available starting from as little as 5000 pounds all the way up to 100,000. Most of the exhibitors used standard ... Has Your Business Had A Health Check? Just What the Business Doctor Ordered business doctor, business health check, regular business check, business shaping up. Has your business had a recent health check? It is good to step back at least once a year, examine how your business is performing and look at ways of improving every aspect so that you are ready for the future. Competitors What are your competitors up to? Have they expanded their product offering? Have they changed their prices recently? Have... Doing Business In The United Kingdom Britain is made up of England, Scotland and Wales, whilst the United Kingdom is Britain plus Northern Ireland. Somebody can be from the UK but not British if they are from Northern Ireland. In the past Britain had a huge manufacturing base which is now slowly changing to a service economy. London is still the nerve centre of the financial world where more money changes hands on a daily basis than any other financial centre. From a population point of view, England domin... Starting A Business - Estate Agents The Estate Agent business is basically about helping other people buy & sell their properties. But even in this field you do get a lot specialization. Some estate agents focus purely on commercial properties, other on the lower end of the residential market whilst a few focus purely on the expensive luxury end. Generally speaking what you choose to specialize in is often dictated by who / what you know and the location you have chosen for your estate agents business. Th... Top 10 Reasons New Businesses Fail Every time a new business fails I get dismayed. The owners of a small business have often staked their entire capital on a new venture and they stand to lose a lot more than if a big company fails in their new venture. Before you start a new business familiarize yourself with the top 10 reasons why many new businesses fail. 1. The manager is incompetent Most small businesses fail because the owner does not have the knowledge to run a business properly. It is advisable t... Analyzing New Business Ideas & Opportunities Every time I have a business idea or come across a new opportunity I analyze it using these criteria: Is it really any different from what is currently on the marketplace? What wants and needs am I fulfilling? Who will be buying my products or service offering? How strong are my competitors? Is the market for my idea growing or shrinking? Do I have the time and energy to follow through? Who is going to handle what? How much initial capital is required?... Make Your Home Business Child Proof Running a business from home can be hazardous for your loved ones. Small children and your pets love to explore every hole and tiny space. Their tiny fingers and paws can access small places our hands could not even get into. So how can you make your home business child and pet proof? A good way to do this is to get on your hands and knees and look around from a child's point of view. Whatever you can see so can your children and pets. Whatever you can touch, tug or reach ... Business Risk - He Who Dares, Wins? Business Risk - he, who dares, wins… right? When making an investment of any kind, one key factor that needs to be looked at is risk versus reward. More importantly, how much risk can you handle? A person's risk tolerance is closely linked with their willingness to invest. So what is "risk"? In the context of business, "risk" is a concept that assigns a possible negative impact to an asset or something of value that may arise from some present process or future event. In e... Starting A Florist Business Running a florist business is extremely hard work as most independent florists are open six days a week although some do close early on Wednesday. If you buy your flowers from the markets then you will have to wake up really early so that you can buy your stock & have your shop ready for business at 8:30am. Supermarkets have eaten into profit margins by offering cut price bouquets for as little as a few dollars. There is still money to be made though if you live in a well ... Business + Fun = Great Lifestyle Every business should have a little fun scattered throughout the company. Enjoy your successes and learn to deal with your failures. Loosen up and start smiling… laugh a little… and the world will laugh with you. And if laughter is too big a step, smiling works perfectly - it cost nothing to give and when you do, you usually receive it back; Now that's what I call a win/win situation! Be silly occasionally, socialise in your industry, stay away from miserable people and le... Starting A Fast Food Sandwich Business Starting a fast food business, especially your first one can be extremely daunting as there is so much to learn before you can start trading. But if you get it right you could be laughing all the way to the bank! People will always need to eat and with the pace of life picking up, and the projected growth in population forecast for the UK over the next decade, there has never been a better time to start. There is definitely an opportunity for an independent fast food retai... Starting A Greeting Cards Business - Retail What business offers high profit margins with sales all year round? Mothers Day, Fathers Day, Easter, Valentines Day, Birthdays & Christmas are just some of the many occasions celebrated around the world and they all demand greeting cards and associated products. Retailing greeting cards, small gifts, tags, ribbons, bows, key rings & fridge magnets all offer high profit margins. The minimum mark up is over a hundred percent but because the retail price is low, people do no... Will Your Business Benefit From Venture Capital? Not all businesses can attract venture capital. Venture capital is provided by a firm of professional investors that are generally seeking high growth business opportunities to invest in. They provide funds to help you grow your business but in return they often want shares in the business. If you have a brilliant idea that has huge growth potential and are struggling to raise money through the normal channels then this route might be ideal for you. Be prepared to give awa... Gym Business - Subscriber Numbers Are Falling The leisure business is facing difficult times as members cancel their subscription and are not replaced by the same number of new fitness enthusiasts. A survey by Deloitte in 2006 found that numbers of members fell across the board by close to 55,000. I expect this decline to continue in 2007. Health clubs have now changed forever. Existing members demand clean modern equipment, swimming pool and sauna / steam room. Even the name "Gymnasium" is hardly ever used now with t... Business - Closing The Sale Is Easy If You Know When To Shut Up Business is all about sales, customer satisfaction and profits. The biggest problem that new entrepreneurs encounter is how does one close the sale? I have trained people in my sales force and the biggest mistake that they made was not to know when to shut up! Let us say you are in the middle of a presentation and you start seeing buying signals. Stop right there and ask for the business. You do not always need to do the full spiel. Overselling once you have a clear buy... Business Imitation Or Innovation? Are you starting a business for the first time? If this is your first foray into business you are much better of finding a concept that already works and improving on it then trying to launch your latest idea. Look at how the Japanese identified the opportunity in the automotive industry. They imitated and innovated on an existing proven demand and are now the market leaders. They did not try and create a new market for an unproven idea. They came, copied and improved o... Young Business Men & Woman The most dynamic business people are those who are starting their own business for the first time. They have innovative and daring ideas and believe that the world is a safe place for young entrepreneurs! They have dreams of the world waiting with baited breath for their latest million dollar idea. They believe that their journey will be short, sweet and simple. They laugh at older people that are still struggling to get by. They are full of optimism and hope to realize... My First Ever Franchise Exhibition I launched my business properly for the first time at the franchise exhibition last Friday and Saturday. Up till now I have not felt ready to exhibit as I did not feel that our platform was 100% complete. For us, exhibiting at the National Franchise Exhibition at the NEC in Birmingham was a resounding success. I think the total cost of our stand including design and build was approximately double the average stand of the same size but it did pay off as our stand was one of... Start A Property Management Business The property management business is a really good idea for someone who wants to make a decent income without taking too many risks. My foray into property management was purely by chance. I had about 15 flats in Dundee and employed a full time handy man to collect rents and sort out any minor repairs. My friend Chris knew that my properties were well managed and he asked if I would look after his mother's flats. I knew that she was not well and because of her health, i... Is Your Reception Letting Your Business Down? Visiting a business for the first time a potential client's first point of call is the reception. If the reception desk is not inviting or worse still cluttered and untidy, then your potential customer might believe that the whole business is disorganized! As the first point of contact the receptions desk should reflect the ethos and identity of your business. It is often your first chance to impress a potential customer or a future supplier. Businesses should spend jus... Retail Business Can Boost Their Profits! A retail business is hard word. You have to open and shut the business at predefined times and always make sure that you have the right number of staff present so that the customer gets great service. How do you boost your profits? I ran a retail business for five years over 15 years ago. Then I sold it and started supplying packaging to manufacturers. Now I run an internet based business. The following is how I boosted the business in my retail outlet. One of the best ... Business Ethics And Purpose The purpose of business is to generate maximum returns for its owners and shareholders. So therefore should the business pursue all activities that enhance profitability and increase the value of the business for the owners and / or shareholders? I also believe that a business should behave ethically in achieving the above purpose. It is not right just to operate within the letter of the law. Businesses should also try and serve their local community and help its employees... Small Businesses - Jack Be Nimble, Jack Be Quick I have been in business now for over twenty years and in that time I have made friends with many small business owners. What I have found has been one of the major reasons why some small businesses fail is that the owners are not willing to change direction. Most small businesses have an office, premises, vehicles and maybe a couple of staff. If they are struggling to make money with their existing product lines why do some of them refuse to move to a new product range tha... Cold Calling Strategies For Business Newcomers In running a business most of us at some point have to do some cold calling. Just these two words "cold calling" can strike fear into the heart of even the most determined entrepreneur. So how can we make cold calling easier? Here are some tips that might help: 1. Who are you going to ask for? Try and find out the name of the person you want to speak to before you pick up the phone. There is nothing worse than saying "Can I speak to the manager?" Immediately the secr... Business People Shaking Hands All Over The World When business people meet all over the world the most common and recognised gesture is to shake hands. In my travels I have found that even this simple routine is done differently in many parts of the world. In the UK it is usually a single right hand that does the shaking. Very few people shake with their left hand and it is deemed rude to offer your hand without taking your glove off first. There are power hand shakes when one party decides that either they are superi... Find A Great Franchise Opportunity & Plan For Success How do you find a great franchise opportunity amongst the thousands advertised on the internet, franchise exhibitions and magazines? In this article I examine the key qualities that potential franchisees should look for when evaluating a franchisor and their business model. Is the business model profitable? This is the number critical issue that should be examined in great detail before any commitments are made. Can you see a market for the products in your territory? Some... Taking Advantage Of Business Trends Every business niche has a cycle and a trend. Everything in life runs in cycles… whether it is fashion (flares), currency values (at this moment the dollar is at a low) or property prices. The same can be said of your business. When a market starts expanding, it will most likely continue to grow for at least the next five years and vice versa when it starts to decline another five years are due. Do you know what cycle of the trend your business is in? Bearing this in m... Hot Business Trends - Obesity & Business Food is big business currently. The shocking rise in the number of obese adults and children is great for the food industry. They love it when we eat more. People who have a Body Mass Index (BMI) equal to or greater than 30 are classified as obese. BMI is calculated by dividing your weight in kilograms by your height in metres squared. It's fairly easy to assess the BMI in adults but slightly trickier in children as you also then have to take age into account. Around 2... The Next Business Trend - Welcome To The Future In business the market place is continually changing as the demographics of the population shift. New technology is coming to the market at an exhilarating speed. Businesses that catch the latest trends will ride the wave for years to come. The biggest change taking place now and over the next few years is the rise in power of the mature (50 plus) market. By 2025 one in three people in the UK will be 55 or older. In Europe the percentages will be even higher! The spending ... Getting Luckier In Your Business In any business venture luck has some part to play. How do you make your business luckier? Lucky people do not dwell on their past mistakes and instead focus on today and tomorrow. The past cannot be changed no matter how much you worry about it. The only thing you have control over is the present. So stop living in the past and make the most of today. Lucky people rarely whinge, moan or complain about others. Rather they focus all their mental energy on making their l... Small Business Guide On Factoring Many small businesses struggle with cash flow in the early years. One way to improve your cash flow is by factoring your debts. When you factor your debts the factoring company gives you up to 85% of any outstanding invoices straight away. They also take the burden of collecting your debts away from you. For this service they charge around anywhere between one and three percent of the invoice value. I used factoring in the late nineties when I was struggling to manage ... Secret Rules For Franchise Success Finding a franchise business that is right for you is simple if the right preparation is done beforehand. So what steps do you need to take to ensure that your first venture into business goes according to plan? Who Are You? First you must take a long hard look at yourself. What kind of person are you? Do you want to work from home or would you prefer to manage a retail outlet? Are you good at managing people? Are you a morning person or a late starter? What is your att... Testing Your Business IQ This Business IQ Test is very simple. If you answer Yes to any question give your self three points. If you answer No deduct 3 points. If the answer lies somewhere in between then you score zero. Does your business have a 1, 3 & 5 year plan? Do you know the level of turnover that would allow you to break even? Do you know what your fixed and variable costs are? Do you know how many leads you should get daily to reach your goals? Do you have a definite plan for ... Is A Dating Franchise The Right Business For You? A dating business might be the right franchise opportunity for you if you want to work from home and enjoy meeting new people. The numbers of single people are rising all the time as people leave marriage for later and divorce rates are on the increase. People are now working longer hours than before and often need a helping hand to meet the right person. In the past most members of dating agencies were people in their late twenties and early thirties. This is now no l... Are Coffee Franchises An Easy Business Opportunity? Coffee franchises are springing up in almost every town and city worldwide. It is a tough business to be in when you consider the long hours, health and safety regulations and numbers of staff required. When potential franchisees first look at this business they are blown away by the profit margins. Surely any business that has such high margins built in must be profitable? In reality it is not as simple as that. For a coffee shop to be truly successful it needs to gene... Business Directory Analysis & The Future A Business Directory is normally published free of charge for users. Businesses get a free listing which is usually a name, address and phone number. If they want more information displayed they have to pay a fee. Businesses and householders can now ask for a private number which means that their number is no longer listed. This has the advantage of reducing unsolicited calls but can harm the ability of a business to generate sales. The size of the advertisement determi... The 5 Ks Of Being A Successful Franchisor The franchise business world is constantly changing as new opportunities are released every month to an already stretched market place. By utilising the 5Ks of being a successful franchisor it is possible to keep ahead of the competition. The 5Ks for being a successful franchisor are: Keep Communicating Keep Supporting Keep Innovating Keep Investing Keep Positive Always refer to the 5Ks to ensure that the franchise offering is strong and remains competitive. Th... Business Franchise – How Do I Raise Funds To Buy? Many people buying a franchise opportunity or starting a business for the first time raise funds by getting a second mortgage on their property. This method is extremely popular due to the fact that it is possible to raise funds at exceptionally favourable terms. The interest rates are the lowest in the market and you can spread payments over many years. Many people turn to their family and friends to either provide funds. The benefit of getting loans from friends and fami... What Does A Franchise Consultant Do? What does a franchise consultant do? In general terms they can take your franchise concept from idea stage to full blown market penetration. They advise you on creating your operations manual, brochures, franchise agreements and help you to market your franchises. They can advise you on the best methods for raising capital not only for successfully launching your franchise but also for the franchisees to be able to afford to buy your franchise in the first place! Many new ... Make Your Business Card More Effective In my life I have literally collected thousands of business cards. When I look through them, I hardly remember the person or business at all! Should a business card not reflect who you are and what your business does? A proper business card is the first piece of marketing literature that is handed out. It should definitely have your name, address, email address and phone number. But I think that most business cards should have more information. Most are very poorly design... The Best Business Opportunities For Entrepreneurs There are many business opportunities advertised on the internet, newspapers and magazines. Not all of them can really make you any serious money. I have listed below the business opportunities which I consider worthwhile and lucrative. Franchises – I would seriously entertain the idea of buying a franchise opportunity if you are not sure about starting a business on your own. It is a good idea to talk to existing franchisees to see how well they are faring. If most of... Is Franchising Right For Your Business? Franchising a business is a great way to expand and get your products to the market quickly. It is possible to achieve strong growth using the franchise model. Franchising though is not suitable for every business. Analyse your business model and ask yourself the following questions: Can my business model be taught easily to people with no prior business experience? How easy would it be and how much would it cost to recruit new franchisees? What kind of person wou... Franchisees - Beware Of The Franchisor! Some franchisors seem to act in like highway robbers. They mistreat their franchisees and want to take the largest slice of profits. So how can you ensure that you do not end up buying the wrong franchise business? A franchise business should be like a partnership where both parties gain. But some operators seem to treat their franchisees as cash cows and continuously milk them for all they are worth. They promise everything at the start but fail to deliver. The first s... A Business Franchise For People Who Adore Children Are you looking for a franchise opportunity which revolves round children? Why not consider a tutoring franchise. Your business and work consists of educating children out with school hours in the basics of English, spelling, reading & mathematics. You mainly help children between the ages of six and sixteen who through no fault of their own are having learning difficulties. Maybe they have just moved school, had health problems or are just emotionally upset. You can help ... How To Franchise Your Business The first step in franchising your business opportunity is to start by analyzing your business model. Is it profitable after allowing for your franchise fees? If it is profitable and has well defined objectives to exploit the opportunities in the market place then you are ready to move to step two. Can the business model be easily taught? There is no point in having a profitable business opportunity if it can not be duplicated by your franchisees. A training package must b... The Franchise Business, Internet & Enhanced Relationships Many franchised businesses now use the internet to communicate with the franchisor. This communication is mainly by way of an Intranet which is a private computer network. This can be done via the internet or via cables interconnecting the franchise network and serve to enhance the whole franchise network if done correctly. The franchisees can place orders online and check delivery dates. Some of the largest fast food franchises operate "just in time" daily deliveries to t... Do Business Opportunities Still Exist For Budding Entrepreneurs? The world of business is moving forwards at a fast pace. Globalization, huge marketing exposure and low distribution costs over the recent years have had a huge impact on small businesses. I have been told that opportunities for the adventurous and ambitious were in abundance only ten years ago but the 'markets have changed' and margins are tighter making new ventures all the more risky. Globalization, smarter IT systems and the intelligent analysis of information and th... Which Is The Best Franchise Business? There are many franchise opportunities in the market and the most common question I get asked is "which is the best franchise business?" My answer usually is "It depends on your personal skills and lifestyle." Before deciding on which franchise to buy it is important to evaluate your character. Do not use your own judgement but rather ask family and friends. Ask them to be absolutely brutal in describing your key personality traits. Get them to highlight both your strength... Advantages Of A Franchise Opportunity A Franchise Opportunity has numerous benefits over starting a business on your own. The major reason why it pays to become a franchisee is that you are much more likely to still be trading profitably after five years of trading. Over eighty percent of new start ups fail within the first five year! When one buys a business from a franchisor they receive a detailed training programme. This covers all aspects of running a business. The training programme is critical in ensuri... Who Makes The Best Business Partner? Are you looking for a business partner? What are the ideal qualities one should look for in a business partner? I was reflecting on this today and this article is based on my personal business history. In my business experience I have learnt that the qualities I look for in a friend are not the same as the qualities I would look for in a business partner. In many cases your friends could possibly make the worst partners! The ideal business partner is someone who possess... Make Your Business Opportunity Succeed When a business decides to try and outperform the competition with their opportunity it is necessary to provide an alternative solution to what exists; this may seem obvious but is not so to most of the working world. What many businesses provide are a solution to these problems-indeed they have made a business out of it. One of the key aspects of any business is the need to transfer goods from one place to another (internet accepted) So on the subject of transportat... Franchise Opportunity - What Questions Should You Ask The Franchisor? With all franchise opportunities there are a few questions that all potential franchisees should ask of the franchisor. Bear in mind that this relationship could last many years and your business potential and your future happiness rests on the answer received. Money whilst important in the decision making process is by no means the only important consideration in business. First and foremost it is important to ask about the franchisors background. Their experience in busi... Why Do Some Franchise Businesses Struggle And Fail? Most Franchise Businesses are successful but invariably like any other business some do fail. Why do they fail? Most franchisors fail primarily because they took the route of franchising their business without proper planning and preparation. Although franchising is a great way to grab market share quickly and without utilising your own funds, it requires a great deal of work to make it successful. The first and most important requirement for any potential franchisor is c... Evaluating A Franchise Opportunity There are now franchise opportunities that operate in almost every type of business category that you can imagine. They are available in most price brackets and can suit most people lifestyles. Franchising is now a very reputable way to start a business and has revolutionized the way people do business throughout the world. Are you considering buying a franchise? If so then you need to decide on the type of business that would suit your lifestyle and budget. The best way t... Franchisee And Franchisor Relations How can franchisees maintain proper relations with their franchisor? A lot has been written about how franchisors can promote positive relations with their franchisees. Franchisors should maintain proper dialogue, reward the best performing franchisees and hold regular meetings. I believe that the duty also lies with the franchisee to help the franchisor achieve his goals of maintaining proper and profitable relationships both parties. Most franchisors aim to provide the u... Business & Opportunity - Start Your Own Business In business, opportunities are everywhere whether you are buying a franchise opportunity or starting a business on your own. But for those who are entering the world of business for the first time everything can seem a little daunting. They will have to quickly grasp new skills and embrace change if they are to succeed in their first business. Here is a typical scenario of someone starting out in business for the first time; a man is approaching his fortieth birthday and... In Business Take The Opportunity To Win The War I think that business can easily be thought of in the same way as a military campaign. Your competitors will take the opportunity (have no hesitation) in using your ideas or attacking your customers. If they can most will not hesitate to crush you! Another tactic that I have personally encountered is when our competitor tried and succeeded in poaching 2 of my staff. Eventually I managed to get one back primarily because she didn't like her new boss. I was actually glad tha... Business, Opportunity And The 80/20 Rule In business and opportunities the 80/20 rule can be utilised much more frequently and to your advantage. In every walk of life the 80/20 rule seems to hold dominance. 20 percent of actors rake in 80 percent of the wages. 20 percent of sportsmen win 80 percent of the prize money. 80 percent of your business comes from 20 percent of your clients. The 80/20 Rule and how it affects your Business is quite simple. So how do you use it in your business? Who are your... The Franchise Business Is Alive & Strong New franchise opportunities are coming to the market regularly and the franchise industry is going from strength to strength. Franchise exhibitions are attracting many new exhibitors. Potential franchisees are coming in their droves to look at the many new & old opportunities that are eager to take their cash. Entrepreneurial spirit is alive and kicking. People from all walks of life and different educational backgrounds are now thinking about going into business. More wom... Selling A Franchise Business Selling a franchise business is not as straight forward as selling your own business. Your franchise agreement will have detailed instructions on the procedures that you need to follow when you take the opportunity to sell your business. The franchisor will be able to assist you in valuing your business and will probably insist that you use the methods of valuation as set out in the franchise agreement. You will of course be free to seek independent advice and valuations. ... Find Your Perfect Business Niche In business how do you find the perfect business opportunity? It might seem complicated when you are starting out but there are some basic rules you can follow to find the right business niche for you. This is a beginner’s course for any young person who is starting out in business or even an older person who is starting out in business for the first time. Let us start with the golden rule. What are you interested in? There is no point in spending the next 5 or 10 years ma... In Business Think Small! I have a friend who always seems to fail at every business opportunity he lays his hands. Do you know why? He thinks BIG! I mean really BIG! He never looks at any opportunity unless he can make huge sums of cash. What always ends up happening is that he never has the cash flow to manage the opportunity that he wants so much to come true. My main concern is that there are too many books in the market place that seduce people with large business ideas and impossible goals... Family Business & Franchise Opportunity When you buy a franchise business and employ family to help you run it, the business operation can be a lot smoother. Notice how I said can! When you buy a franchise opportunity, in the initial stages business cash flow can be tight. This is where sometimes family members can help out. In the initial stages some family members might be prepared to help you out at either zero or minimal wages. Longer term their demands could grow to the point that they ask for more money th... Is Your Business In The Comfort Zone? I have an acquaintance who supplies products to the small business retail trade. He decided a few years ago that he was happy with the level of business he had. He stopped all forms of new marketing and focused on just keeping his existing customers happy. He was now comfortable and business was good. What he failed to realise was whilst he was not seeking new customers, more and more supermarkets were opening in the area. They were taking business left, right and centre f... Network Marketing & Franchise Opportunities How does network marketing differ from a franchise opportunity? Usually individuals will associate with a parent company on the basis of being an independent contractor or franchisee - the remuneration comes as not just by the products they sell but by the sales efforts of those recruited into the business. One can liken this in certain aspects to some franchise opportunities whereby royalties are paid from the sales of individual franchise operations to the franchisor as ... To Buy A Franchise Business? It is a well known fact that as the population increases then the number of people wanting to go into business increases –obvious but true. This is despite the fact that a large amount of businesses fail within the first two years. Ideally one would like to purchase a business for less than it takes to create one – this is not always easy and can take as much effort as the former. So just how does one take the choice of whether or not to uptake the business opportuni... A Franchise Business - To Buy Or Not To Buy Aspiring franchisees often find themselves-they have plenty funds, do not want to work for somebody else, but have little business skills. What exactly is a franchise? The word is used to refer to a business that utilises the logo, name and operation systems providing that they come up with the required funds and are prepared to give the parent company a share of the profits. Just like any other business there are positives and negatives –the future depends on severa... Low Cost Franchise Opportunities There are may franchise opportunities for people with small budgets. A low cost franchise does not necessarily mean a business with low income potential. Trawling through the franchise market, I have discovered that some of the best franchises only need a small initial outlay. In some cases it is possible to recover the entire franchise fee in the first year of trading. With many of these businesses, you do not need any premises as you can work from home. This greatly redu... Making Your Franchise Business Successful Buying a Franchise Business is not a get rich quick scheme. You have found the right opportunity, analysed the viability of the business, met the franchisor and signed the franchise agreement. Now the hard work begins. The first year of managing your franchise business is often the hardest. This is when you will learn the core skills that are required to making your business opportunity successful. In the process you will also find out more about your own strengths and wea... Unusual Franchise Opportunities - Funny Business The most unusual franchise opportunity that I have come across specialises in cleaning mattresses! They have turned this business into an art form. The way I clean my mattresses is by taking them out on a cold day and hitting them with a hard brush. The brush dislodges all the loose material whilst the cold kills any bed bugs. This franchise has all the specialist equipment needed including hi powered cleaners, UV radiation equipment and specialist hygiene sprays. They cla... Business Letter & Email Etiquette In Business Letters and Email, what are the basic rules one should follow when writing? Your letter might be the first point of contact with another business, and how it's written, will demonstrate your communication skills to the other party. Always date your letters, and make sure that you spell the persons name correctly. If you are unsure, call reception and ask for the correct spelling. I am amazed at how many people send me letters with my name spelt incorrectly. ... A Franchise Business Is Not The Right Opportunity For Everybody With a franchise business, the chances of success are much higher. According to the US Department of Commerce, after completing a 7 year study, over 90% of franchises are still trading profitably. So why am I saying that a franchise business might not be right for you? A franchise is not right for you if: 1) You are the type of person who does not like following guidelines 2) You believe that you know better then everybody else 3) You can't accept other people's ad... Which Business Will They Franchise Next? Almost every business that you can think of has been franchised. Now, new opportunities are opening up for the franchise industry with the advent of new technology. The franchise industry is famous for its fast food, printing & coffee franchise opportunities. These businesses are well known for the quality of their output and reasonable prices. Some of the earliest entrants to the franchise market include well know companies like McDonalds & Wimpy. Now, some new busines... Why Franchise Your Business Can you franchise your business? Is franchising the right route to take for your business? As rents and rates rise in the main shopping areas & supermarkets take a greater share of consumer spending what are the advantages and disadvantages of franchising your business. If a business has managed to find a niche and can maintain a high profit margin through the ups and downs in the business cycle, then it might be possible to franchise your business. Is the business model e... Increase Business By Sending Gifts! Business Owners are always looking for new ways to increase sales. One way to do this is by allocating a percentage of your advertising budget to promotional products. Instead of spending 100% of your budget on advertising, allocate 25% to promotional products. Repeat business from existing customers is the mainstay for most businesses! If you are sending promotional material by direct mail then include something cost effective like a pen, letter opener etc. Make sure t... Find A Great Franchise Opportunity The franchise market place is growing rapidly with more and more people buying a franchise business. The people who invest in a franchise opportunity are more likely to succeed then those who choose to go it alone. Many millionaires have been created through the franchise industry. After a lengthy study carried out over 7 years by the US Department of Commerce, it was revealed that over 90% of franchisees were still in business. Those who had decided to go it alone and sta... Buy A Franchise Or Start A Business? A franchise business is definitely the safer opportunity according to US Department of Commerce figures. This study carried out over 7 years revealed that after seven years, over 90% of new franchises are still in business, as compared to only 20% of individual new start-up businesses. Most people, who do start a business by themselves, end up failing and losing a lot of money. I now that this is a sad fact, but it's true! If you start a business on your own, you have t... Franchising Pros And Cons What are the advantages and disadvantages of franchising? You have decided to buy a franchise. Which one will you choose? There are so many out there. Are you going to go for a coffee shop or fast food outlet? What about an internet business, printing company or stationary? There are distinct advantages in buying a franchise over starting your own business from scratch. The greatest advantage is that most franchises are still trading after 3 years whereas most new start... Business Idea... Opportunity Planning... Action... Culmination At first all new businesses start of as an idea. How do you turn this idea into a profitable opportunity? When the idea grips you so much, that you wake up in the middle of the night and hurriedly scribble down some notes, what do you do next? Some of the best business ideas I have had have come at night but usually they are so bold that most of them end up in the "ideas box". What is the procedure to follow when a revelation occurs usually late Friday night, early Saturda... Buying A Franchise Business - How To Choose? Buying a Franchise is a great business opportunity as the majority of franchisees are still trading successfully after 7 years (source - US Department of Commerce figures). Before you start looking at franchises, decide which market niche you want to enter. Choose a field that not only creates a livelihood but one that you personally will enjoy. You also have to analyse your self. Are you good at sales? If you do not like being cooped in to one environment, then a franchis... Create A Business Opportunity From A Problem Turn a Problem into a Business Opportunity by creative thinking. People pay money to create a problem and then somebody else turns that problem into a business opportunity. How do we do this? First step is to examine and define in great detail what exactly the problem is? Then look at innovative ways to turn the problem into a business opportunity. Problem - We are eating a lot more then we should. Opportunity - exercise classes, weight loss diets, larger size clothes &...