So you want to be in business for yourself, but not by yourself. In today’s uncertain economy, it is a good idea to have someone who has your back. This is especially true if you are getting in the business for the first time. With a franchise model, that is exactly what you get – a business partner that helps out with marketing and sales, supply costs, and operations. Franchises usually have hones their business model over years and can help potential business owners get off the ground quickly. However, not all franchises are created equal. You need to do extensive research to find the one that is right for you. Here are the tips you can use to narrow your search.
If you are looking for a good business idea that you could set up with reasonably little time and effort, a janitorial supply business could be a great option. Janitorial supplies will always be in demand, no matter what happens to the economy. People will need to clean their homes and offices whether they like it or not.
So how could you go about setting up your own janitorial supply business? Here are a few things to consider.
If you walk into your local shopping centre, you will see exactly the same things as you would in any other shopping centre in the country – a number of large, brand name stores; some smaller, independently run shops; a sprawling food court stuffed to the brim with fast food restaurants.
Unfortunately, with the current state of the economy, many of the larger retailers have been finding themselves strapped for cash, with many of them (HMV, GameStation, Woolworths and the like) either going bust completely or going into administration.
There is, however, an upside to this troubling situation – small businesses are coming back into fashion, experiencing their own renaissance and flourishing. Food carts are doing well and food kiosks are really taking off. Take advantage of this boom as soon as you can; here’s how to do it.
Ask anyone who works for a small business and he will tell you he wants to run his own business some day. Many of them have a great idea – or think they have one – and only if they ventured on their own they could become a successful business person. Some of them also think they can do better job of running the business they work for than their current owner.
While the thought of starting and owning your own business is certainly admirable anyone who has tried to do it will tell you that it is not as easy as it sounds. As Chief Everything Officer you will be working on many different fronts at the same time and under tremendous pressure. There is no guarantee that you will eventually succeed after spending so much time, money and effort. So, is there any hope for someone who has the passion to start his own business, but is not sure how to go about it? I think so. Let me explain how.
Buying franchises in Canada, or anywhere else in the world, entails a long and difficult path to pursue for the untrained investor. However, equipped with the right information and resources, franchise buying can become less painful and a lot safer. We have broken down the process of buying a franchise into five easy-to-establish steps that serve as guidelines on the road to becoming a successful franchisee. Here are some details about these five stages of the franchise buying process:
There are few decisions in life that are as important as buying business. Think about it! You are getting ready to bet your life savings on it. Not only that, but you are betting your future on it too. The decision not only affects you, but everyone around you, especially your family and friends. You will pay the price for any mistake you make at this point for a long time.
It is easy to make wrong decisions during the buying process, particularly after you become too involved, and get frustrated by the slow pace of progress. You just want to get it done and start working on the future rather than continue “wasting” your time. This is when you are likely to make wrong decisions and regret them afterwards. I always like to lay out few principles that I can go back to when this type of situation arises, so that I can keep myself in the check. The 5 mantras I have described below are meant to guide potential buyer during the buying process and help make the right decision.
Very few decisions have as much impact on your life, as well as of those around you, as the decision to buy a business. This is one of the biggest decisions you will make, other than the decision to get married or have kids. Yet many people jump into this without carefully examining what it takes to run a small business. They get blindsided by the myths about owning a small business and end up paying a huge price, both in terms of money and stress, for a long time. With that in mind, we have compiled 7 best practices to follow and understand before buying a business.
One of the greatest things about the Internet must be the availability of so much information for free. However, it’s also a public forum where anyone can publish so-called resources without a system of peer review. If you’re basing your business decisions on information gathered from the Internet, you need to make sure the sources are valid and reliable.
Wikipedia is a prime example of user-generated content that isn’t always reliable. However, it has a system of citation or reference that identifies the source so that users can follow the trail of information. In Wikipedia, citations are contained in footnotes (links at the bottom of the page), although they also sometimes appear in the main article of the body.
You cannot be successful in small business without having good negotiation skills. You are required to negotiate at each and every step while operating the business – with vendors, customers, employees, franchisors and so on.
Some people are natural born negotiators and they even enjoy the experience. Many others, however, think of negotiation as necessary evil they have to deal with and dread dealing with it. No matter which camp you belong to learning good negotiation skills and understanding the rules of negotiation will help you becoming successful small business owner.
I discussed 5 fundamental rules of negotiation for small business in the earlier post. In this article, I would like to elaborate more on what virtues are necessary to help you become successful negotiator. Not everyone is born with these virtues, however, with little practice and understanding you can learn and improve your winning odds at the game of negotiation.