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Cashing Out ... What Is Your Business REALLY Worth?
Question: What is your business REALLY worth? Answer: Whatever someone else is willing to pay for it at the time. That's a true statement as far as it goes but it doesn't take into account that the way you arrive at a value for your business can ...
Credit Counseling -- Why It Doesn't Work for Most Debtors
"Cut Your Payments in Half!" the headline screams. "Consolidate Your Bills into One Low Monthly Payment!" When you see ads like this, they are often from Credit Counseling firms. In this article, I'll explain the principles behind the Credit...
Growing your Company in today's Chaotic Market!
I think we've all heard enough bad news to last us few months to last us several lifetimes! Our mantra for clients is "get over it" - cut your losses when where you can and focus on the basic building blocks to grow your business. Here are some...
How To Make An Offer On A Home
You probably already know some of the secrets of how to make an offer on a home. You offer less than you're willing to pay, right? That's the most common negotiation technique. For experienced investors, though, that's just one technique among many...
Venture Capital - What Happens After The Due Diligence Process
Venture Capital - What Happens After The Due Diligence Process
If the venture capitalists are interested in your company after
completing their due diligence, they will offer a binding term
sheet. It will reflect the draft term sheet that has...
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Franchises - A proven Business System
Franchises offer the first time business owner a proven and successful business opportunity. If you are looking to start your own business for the first time, franchises provide you with the greatest opportunity for success. When you purchase a franchise from the "Franchisor", and become a "Franchisee", you are not only purchasing a business, but a complete business system.
Franchises have over a 90% success rate, compared to about a 15% success rate for those indidviduals starting their own businesses from scratch. Franchises have spent years developing and modifying their systems of doing business, and they pass that "trail and error" knowledge on to their Franchisees. Initial training exists for every aspect of the business, which can last anywhere from 1 to 2 weeks. Training usually takes place at one of the franchises existing locations or their corporate office. Training may consist of the day to day "hands-on" positions required to run the business, to marketing, hiring, purchasing, bookkeeping, management and supervisory techniques.
Assistance is available with "demographic" reports to aid in selecting the right location. Support is also available for lease negotiation and "build outs", if necessary. Pre-opening strategies and marketing materials for newspapers, print-ads, handouts,
yellow page advertising, radio and even TV ads are are complete and professional.
During the first few weeks of business the Franchisor may provide its own personel to the Franchisee for assistance and support. This helps ensure a smooth opening. Additionally, once the business is open, a Franchisee will receive ongoing assistance and support from the Franchisor, not to mention support from the other franchisees, all who are all just a phone call away.
Once a year or more Franchise Meetings occur between the Franchisor and their Franchisees to exchange ideas, develop new techniques and startegies, and to compare progress and profits.
All of this is not free, of course. Franchisees normally pay the Franchisor an initial Franchise Fee, plus monthly royalties which can range from 3% - 12% of their total income per month. But it can be well worth it!
In owning a Franchise, you are in business for yourself, but you are not by yourself!
(Copyright 2005-ehbvi-www.businessventureinc.com)
(Copyright 2005-ehbvi-www.businessventureinc.com)
About the Author
Ernie Horning is Franchise Consultant and owner of multiple businesses. He is a former franchise owner and writes articles for www.businessventureinc.com
(Copyright 2005-ehbvi-www.businessventureinc.com)
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| Principled Negotiation |
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| :: Negotiations Affairs Department :: |
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