The Cons of Franchising Since beginning my internet marketing business, I’ve spoken to and dealt with a few former franchise owners… none of whom had anything particularly positive to say about franchising. In particular, I’ve discussed the subject extensively with my current personal mentor (one of the current top internet marketers in the world… yes officially… it is ranked). This is a guy who lost two franchise stores and went USD $500 000 into debt soon after the recession began. The following article will discuss some of the major cons involved with franchising. First and foremost, investing in a brand-name franchise is going to set you back somewhere in the hundreds of thousands of dollars. Now I understand that you’re investing in a potentially lucrative business, however, this is quite a massive sum of money to be investing in something with such an uncertain future. Why did my mentor [...] Continue Reading…
Developing Your Business With Ken HollowellThere arrives a time in the development of every business that a choice has to| choice must| decision needs to} be made concerning whether or not to expand to reach a larger marketplace and, if this is so the best method to reach that goal. Franchising, which is one strategy of enlargement, has become more popular in the previous 3 decades. There is no doubt regarding its success but the important questions are whether or not it is right for you and whether or not you are prepared to be a franchisor. To help answer those questions, let’s explore what being a franchisor requires, mentally, physically and financially. You first need to appreciate that franchising is a business in and of itself. Your existing business ( the fundamental concept which you would like to franchise ) is another business. It is necessary , therefore [...] Continue Reading…
You might choose Harrow for getting entertained because it is close to London. However, in reality, you do not need London to provide you with any entertainment because Harrow offers you with something to do with the important bits of your life. Be it just for fun or to chill out, or be it to treat yourself there are an array of local events at Harrow to entertain all. Brazilian Soccer Schools Harrow: Children from the ages of 5 can now join the worlds largest soccer which has now begun classes in Harrow. Our unique training methods based on the Brazilian game of Futebol de salao are being practised all over the world by over 1.5 million children. Join the event to know more! Baby Yoga – Stretch & Soothe: Gentle exercise, creative movement, nursery rhymes, story time, treasure baskets, social time and much more! A great bonding activity [...] Continue Reading…
photo credit: Wesley Fryer
When the economy is slow, the advertising budget is usually first to go. Why oh why oh why? Right when you need to get your name out there the most, you cut and slash so that poor advertising budget is only a shell of its former self. I know that running a small business can be challenging. I know that you have to keep a close eye on expenses at the best of times. It can be tough. And it’s even tougher when you fall for the big business marketing model and try to use image based advertising to grow your small business. It won’t work when times are great, and it definitely won’t work when times aren’t great.
Image Based Advertising Won’t Work
Stop me if you’ve heard this one before. Big corporation with millions of dollars to waste on marketing hires huge ad agency to [...] Continue Reading…
Coveted Transferable Skills are skills that can be applied in a wide variety of contexts to a wide variety of tasks. These include general personal traits that are most sought after because such emotional quotients are shown in personality and not found in professional certificates. Below are the nine most coveted transferable job skills in today’s employment market particularly in Australia. To many recruiters, if you have two or three of the following talents, your future is bright.1. Budget Management Skill – people who can handle money, make sound financial decisions, and analyze numerical data are in great demand especially for accounting jobs.2. Supervisory Skill – people who can interact with higher management, subordinates and peers, give orders and instructions, listen effectively and demonstrate respect and be receptive to others will discover many doors of opportunity especially in retail jobs. 3. Public Relations Skills – people who can use [...] Continue Reading…
Are you considering opening a dollar store? If so, never discount the demands that are associated with having a business that operates during retail hours. As with almost all retail businesses long hours and varied hours, including evenings and weekends will be required of the independent owner-operator. In fact retail stores are typically open 10-12 hours per day, often seven days per week
For most who are opening a dollar store retail hours will mean that they can expect that they will need to work ten to twelve hours per day, seven days per week during the start up phase of the business. If you are in a shopping mall of any kind your actual hours of operation will be dictated for you.
During the start up and early growth phases of you business you can expect that as the owner you will need to be on-site or readily available to [...] Continue Reading…
In the wake of a recessionary cycle that has only recently begun to show signs of a turnaround, retailers have faced a number of significant financial and logistical challenges. But while existing retailers have faced a number of challenges, from a grim real estate market, to tighter lending standards and lower levels of consumer spending, the rugged economic landscape has been an especially difficult issue for aspiring small business owners. For prospective franchisees, the financial hurdles to opening a small business franchise can seem bigger than ever. Up until approximately a year ago, the most common method that a prospective franchisee would use to secure financing for a new small business was by securing a home equity line of credit. With a house the single biggest asset in most people’s personal portfolios, home refinancing always made sense. But with homes losing value and banks hesitant to lend, refinancing options [...] Continue Reading…
Many who open a dollar store don’t realize the complexity of the business they are entering. They get in and things flow pretty smoothly. Now things have changed. The economy is slowing, which has also slowed sales. One the other hand, merchandise and transportation process are skyrocketing, which is pressuring already limited profit margins. For many who are in trouble there seems to be no-one to turn to for help. This article provides options to consider as you work your way through the troubled times your business is facing.
Start by clearly understanding the problem. Be very clear on exactly what is causing the problem and what the impact is on your business. A simple statement like my sales are down will not do. You need details. Is the problem the cost of good sold? Is it a decline in sales? Is it due to increases in expenses? Have you [...] Continue Reading…
In 2009, the Obama Administration changed everybody’s paradigm about money when they passed a multi-billion dollar bail-out bill and made the concept of ‘trillions’ of dollars a household term. Prior to this administration, the word trillion was only associated with the distance in miles between solar systems. Now, the concept of speaking in terms of trillions of dollars in relation to national debt, is almost laughably acceptable. There is a silver lining to this story, though, and it is changing the future of commerce forever. Gone is the hay-day of affluent overspending (apart from our incumbent government, that is!) and consumer-driven markets funded by unregulated lenders. A more creative, frugal-minded American is emerging, seeking a little sanity amidst this bail-out madness. A sanity that actually brings the results that are needed: a more stable economy, growth, and more jobs. The global recession has been a financial wake-up call many [...] Continue Reading…
If you are opening a dollar store one of the big questions that needs to be answered early on in the process is exactly what is the right amount to charge customers who shop in your store. At one time the only answer was $1.00. However as times have changed there are a multitude of options that now must be considered as a part of the pre-start-up process.
There are almost as many pricing options now available to the entrepreneur who is opening a dollar store as the mind can create. There are one-dollar-only stores. There are also one-dollar and less stores. There are stores that sell at the $1.00, $2.00, and $3.00 price points. There are stores that sell at the $1.00 price points from $1.00-through-$5.00. There are stores that sell at the $1.00 price point from $1.00-through-$20.00. There are also stores that sell at the $1.00 price point [...] Continue Reading…
