|
All You Need To Know About Blog Hosts
Apart from the chat rooms, instant messengers and electronic
mails created for communication and dialogue beyond turf are the
emerging innovations that help man build opportunities for
interaction. The need for a personalized and human face...
Future of Offshore Outsourcing
Offshore Outsourcing provides the ability to hold skilled
overseas staff at a small part of the laborcost which is
exhilarating to several entrepreneurs. The vistas in which
Offshoring can be utilizedespecially in: accounting,
advertising,...
Innovation Management
Innovation is different and distinct from creativity in that it is idea selection, development and commercialisation as opposed to creativity, which is problem identification and idea generation. The core issue with innovation management is,...
Lessons From Inspirational Businesses In Rural Australia
I've just been reading "Good Enough Never Is" an inspirational
new book about rural business success.
Written by Peter Kenyon, it comprises 20 case studies of
ordinary rural people who dared to be different and have...
Top of the Mind Awareness in Equine Marketing: Familiarity Breeds Sales
One of the large challenges you face as an equine marketer is
achieving what marketing professionals call "top of the mind
awareness" of your horses and business.
What is Top of the Mind Awareness?
Top of the Mind Awareness, or...
|
|
| |
|
|
|
|
|
|
Do you have what it takes for Franchise Approval?
Deciding to start your own franchise is just one of the first steps to getting started. Buying a franchise is a lot like dating. You and the company have to be a good fit. The company you are considering starting a franchise with must fit your needs, and you must meet the guidelines they have set up.
You may be thinking, “I have the money, I will just sign up and get started.” It’s just not that easy. The companies want to make sure you will be successful and a large part of that will come in the form of discussions, questions, paperwork, and if you’re still both attracted to each other – FINAL APPROVAL!
Chances are if you’re a true entrepreneurial spirit, your nature won’t be right for most franchisors. Franchisors want you to be able to follow a system that they have proven to be successful. A good example of this is “the golden arches”. You won’t ever go into one that doesn’t follow the rules and guidelines set down by the franchisors. They may for a little while, but they will and can lose their franchise license. There isn’t room for innovation in franchise companies. They don’t want someone to cause any trouble and rock the boat on their proven business systems.
If you’re capable of following a PROVEN system for business success you will be a good franchise owner though. There will still be thousands of questions and they are looking for a specific type of person.
The franchisors want someone with an entrepreneurial spirit to be self sufficient, but with out enough free spirit to re-invent the wheel. The companies usually prefer you to have some management experience or
extensive experience in the field.
Your personality is the next thing that will be reviewed on your “date” with the franchise company. If your wishy-washy and don’t know what you want, you can probably count on this being your last date with that company.
Just like when you meet a new prospective person to date, you check out their outfits, car, etc... You don’t want to end up dating a beach bum right? Well the franchisors don’t want to be dating someone who doesn’t meet their financial guidelines. If you’re planning on borrowing the funds to start the franchise, you may have a rude awakening. Even if your credit is good, and you qualify for a home equity loan, you may find the bank will not lend it to you for starting a business.
Make sure you have your finances in order. Prepare a financial statement that includes your net worth, and what assets are able to be turned into cash in a decent amount of time. Franchisors are going to home in on your net worth and liquidity before anything else. Having cash on hand is much more important that having the ability to borrow funds. Financing debt on other debt is not attractive to many franchisors.
The franchisors will also look at your marketing skills, and your ability to work the schedule the franchise takes to run. If you are used to working a normal 8 to 4 job and suddenly find yourself having to be at “work” 7 days a week it WILL affect your life. Can you make that type of change?
About the Author
Ed Charkow is the webmaster for http://www.start-a-biz.info , a leading resource for franchise start up advice.
|
|
|
|
|
| DTI - Welcome to the DTI's Innovation Home Page |
| The DTI is working to stimulate a significant increase in innovation throughout ... It covers Living Innovation, web streaming of a series of high profile ... |
| www.dti.gov.uk |
|
| Innovation - Wikipedia, the free encyclopedia |
| An innovation in this light occurs whether or not the act of innovating ... A convenient definition of innovation from an organizational perspective is ... |
| en.wikipedia.org |
|
| National Innovation Website |
| The Department of Industry, Tourism and Resources has developed this website to raise awareness of the importance and benefits of innovation and ... |
| www.innovation.gov.au |
|
| Innovation, creativity and brainstorming resources from ... |
| A comprehensive site designed to provide busy entrepreneurs with a focused collection of the best resources on innovation, creativity, and brainstorming. |
| www.innovationtools.com |
|
| Innovation Weblog - Trends, resources, viewpoints from Chuck Frey ... |
| The Innovation Weblog - Valuable trends, resources and viewpoints in innovation, creativity and brainstorming from Chuck Frey at InnovationTools. |
| www.innovationtools.com |
|
| CORDIS: Innovation Portal: Home |
| This Innovation Portal is supported by DG ENTR of the European Commission, ... European Commission adopts new Communication on Innovation: on 13 September ... |
| cordis.europa.eu |
|
| CORDIS: Promotion of Innovation: Home |
| This programme stands at the cross-roads of the Community's policies on Research, Innovation and SMEs. |
| cordis.europa.eu |
|
| Innovation Network... leveraging innovation, creativity and ... |
| The Innovation Network is an association of companies and employees committed to innovation. The site features some interesting articles as well as some fun ... |
| www.thinksmart.com |
|
| Business Innovation : Car Reviews, Online Gaming, and Product Branding |
| If your in need of great Online Gaming material, we carry up to the minute news and reviews for all of your favorite games and gaming systems. |
| www.businessweek.com |
|
| Innovation - Life, Inspired | PBS |
| Learn about fascinating innovations, explore interactive features, submit questions to our experts, investigate resources and lesson plans, and more. |
| www.pbs.org |
|
| Innovation.org - Welcome |
| Impact of Innovation Saving & Improving Lives Controlling Healthcare Costs Strengthening ... Future of Innovation New Medicines in Development Next Wave of ... |
| www.innovation.org |
|
| Innovation: See what people are saying right now on Technorati |
| See all blog posts tagged with innovation on Technorati. |
| www.technorati.com |
|
| Innovation Relay Centres - The World Largest Network for ... |
| Innovation Relay Centres giving advice on Innovation, Technology Transfer and Exploitation. Major European source for innovative technologies or new ... |
| irc.cordis.lu |
|
| The Tech Museum of Innovation | Welcome |
| The Tech Museum of Innovation - Welcome! The Tech Museum inspires and educates the innovators of the future. |
| www.thetech.org |
|
| Pages tagged with "innovation" on del.icio.us |
| CoDev 2007 - Co-Development for Business Growth: Open Innovation and Alternatives ... PDMA & IIR's 5th Annual Front End of Innovation ... |
| del.icio.us |
|
| innovation |
| Publication highlighting the research activities of NUS. The site provides snippets of selected articles online, and provides a subscription form online. |
| www.innovationmagazine.com |
|
| Canadian Innovation Centre |
| Services includes invention evaluation, technology due diligence, market research, and education programs. |
| www.innovationcentre.ca |
|
| London INNOVATION :: Home |
| Maximise your business potential through innovation. Learn the secrets of successful business innovation in London. |
| www.london-innovation.org.uk |
|
| Eric Von Hippel's Homepage |
| Downloadable Books. Democratizing Innovation (2005) ... The Sources of Innovation (1988). Free download of the complete book. Permission granted by Oxford ... |
| web.mit.edu |
|
| Intel Innovation in Education |
| www.intel.com/education/ - 3k - Cached - Similar pages |
|
|