Friday, March 23, 2007

BUSINESS FRANCHISE

Starting a Franchise

Choosing the right business is the first 4. The Fewer, the Better. On the other
step to entrepreneurial success. side of the spectrum from those who
According to studies made by the U.S. believe in safety in numbers are those
Small Business Administration, only 66.0 who think that they are better off in a
percent of small businesses survive its business with fewer competitors. This is
first two years, and survival rate lowers the idea behind the strategy of focusing
to 39.5 percent in at least 6 years. In on a market niche, which has proven to be
2000, it is estimated that 550,000 small apt, even a lifesaver, for many small and
businesses closed, and business failure home-based businesses. Niche entails
for one-person businesses is about 38.2 offering unique products or services to a
percent. few concentrated markets.
Your goal, therefore, as an entrepreneur 5. Rapid Growth. You may also want to
is to find a business that stands a start a business that has enjoyed fast
greater chance at success. You will need growth in the past years. A rapidly
to determine what you can and cannot do, growing business sector, where many new
research on the potential market and how businesses continue to operate, shows
other similar businesses are doing, and that there is great demand for the
what works well in your area or selected product; the market can absorb new
business medium. entrants; and if by looking at the size
1. Less Money Out. The first school of of businesses operating, the market may
thought focuses on the amount of be profitable even for one-person
resources that you have. The kind of businesses.
business that you start depends on the Using data from the Bureau of Census, you
amount of capital you can raise. If you will find that the sectors that enjoyed
have deep pockets, you can go all out the most rapid growth from 1972 to 1987
with your business - getting first-rate include the following: Gift, novelty and
equipment and furnishings, hiring souvenir stores (up 216%); Hobby, toy and
employees, launching the business in game shops (up 180%); book stores (up
grand style, and buying loads of 137%); Sporting good stores and bicycle
inventory. However, if you have little shops (up 127%); and florists (up by
capital, all you can do is to stretch 108%).
what you have and start the business on a The sectors that saw a decrease include:
much smaller scale. Drinking places (down 17%); Household
You may have a wonderful concept for a appliance stores (down 15%); and variety
children's bookstore with play and stores (down 5%). The reasons for the
storytelling sections for kids, and a shrinking number of businesses in these
coffee shop for the adults. That kind of sectors include overcrowding and
vision requires vast amounts of capital - declining customer interest and demand.
from inventory, lease, furnishings and 6. Failure Rate Method. You may check the
store décor. If you cannot finance businesses with the greatest number of
your vision, you may need to downscale failure record. Dun and Bradstreet (http:
your business and instead find ways to /www.dnb.com) publishes a yearly Business
start on this route but without the Failure Record report. This report is not
expense. merely an estimate; but represent
One way is to start an e-commerce site complete tallies of business failures.
where you will not have to pay for D&B defines business failures as those
furnishings, expensive rent and other that "ceased operations following
overhead that a retail store will need. assignment or bankruptcy; ceased
2. Novelty and Excitement. Another operations with losses to creditors after
strategy for selecting a business is to such actions as foreclosure or
start one that is currently hot, hip and attachment; voluntarily withdrew leaving
new. In the Philippines, for example, unpaid debts; were involved in court
pearl shakes - an innovative cool actions such as receivership,
beverage drink in natural flavors mixed reorganization or arrangement; or
with "pearls," or dark, spherical, chewy voluntarily compromised with creditors."
balls made from yam and tapioca -- became In 1997, the businesses with the lowest
the hottest craze in town. Mom and pop failure rates (per 1,000 listed concerns)
stalls and cafes offering this new drink include drug and proprietary stores (33);
popped up all over the metropolitan fuel dealers (37); sewing, needlework and
Manila. piece goods (41), used merchandise stores
You can join in the fray, and start a (47); and liquor store (52). On the other
business that has already proven itself hand, non-store retailers (216); trucking
to be a moneymaker for others. However, and warehousing (208); fishing, hunting
there is danger in adopting a start-up and trapping (273) are the businesses
strategy on prior demand--demand already with the highest failure records.
created by others. What if the business 7. Biggest Payoff. Another logical choice
runs out of steam, and the novelty and for choosing a business is to look for
excitement that pushed it initially wears those that yields the best
thin? You may be faced with cutthroat return-on-investment. This approach
competition, with price-cutting as the involves "checking through the operating
ultimate marketing weapon of choice. results for different business types to
3. Safety in Numbers. As a new find those with high percentages of
entrepreneur, you may also consider a operating profit." The best source of
business that has already proven popular, data that would allow you to determine an
dependable with consistent demand, and industry's operating profit is the Risk
can be found everywhere. Common Management Association's http:/
businesses include eating places, www.rmahq.org Annual Statement Studies.
groceries, used merchandise stores, gift This report offers financial statement
and novelty stores. If these businesses ratios of small and medium-sized
have staying power and are frequently businesses on about 600 industries. The
found, then they must be profitable, book costs $145 for non-members, but
right? Well, not always. There is such check with your local library if they
thing called "market over saturation." A carry the publication.
small town may be able to accommodate Whatever business you decide to start,
only one gift shop. Add another one and the key is to put up an enterprise that
you may be stretching the market too fills an unmet need of the market and to
thin, and end up in the dustbin.
Posted by Conner Lyndon at 11:01 AM
Labels: Franchise, marketing a business, own business

Thursday, March 22, 2007

Own Your Own Business

Own Your Own Business

Choosing the right business is the first 4. The Fewer, the Better. On the other
step to entrepreneurial success. side of the spectrum from those who
According to studies made by the U.S. believe in safety in numbers are those
Small Business Administration, only 66.0 who think that they are better off in a
percent of small businesses survive its business with fewer competitors. This is
first two years, and survival rate lowers the idea behind the strategy of focusing
to 39.5 percent in at least 6 years. In on a market niche, which has proven to be
2000, it is estimated that 550,000 small apt, even a lifesaver, for many small and
businesses closed, and business failure home-based businesses. Niche entails
for one-person businesses is about 38.2 offering unique products or services to a
percent. few concentrated markets.
Your goal, therefore, as an entrepreneur 5. Rapid Growth. You may also want to
is to find a business that stands a start a business that has enjoyed fast
greater chance at success. You will need growth in the past years. A rapidly
to determine what you can and cannot do, growing business sector, where many new
research on the potential market and how businesses continue to operate, shows
other similar businesses are doing, and that there is great demand for the
what works well in your area or selected product; the market can absorb new
business medium. entrants; and if by looking at the size
1. Less Money Out. The first school of of businesses operating, the market may
thought focuses on the amount of be profitable even for one-person
resources that you have. The kind of businesses.
business that you start depends on the Using data from the Bureau of Census, you
amount of capital you can raise. If you will find that the sectors that enjoyed
have deep pockets, you can go all out the most rapid growth from 1972 to 1987
with your business - getting first-rate include the following: Gift, novelty and
equipment and furnishings, hiring souvenir stores (up 216%); Hobby, toy and
employees, launching the business in game shops (up 180%); book stores (up
grand style, and buying loads of 137%); Sporting good stores and bicycle
inventory. However, if you have little shops (up 127%); and florists (up by
capital, all you can do is to stretch 108%).
what you have and start the business on a The sectors that saw a decrease include:
much smaller scale. Drinking places (down 17%); Household
You may have a wonderful concept for a appliance stores (down 15%); and variety
children's bookstore with play and stores (down 5%). The reasons for the
storytelling sections for kids, and a shrinking number of businesses in these
coffee shop for the adults. That kind of sectors include overcrowding and
vision requires vast amounts of capital - declining customer interest and demand.
from inventory, lease, furnishings and 6. Failure Rate Method. You may check the
store décor. If you cannot finance businesses with the greatest number of
your vision, you may need to downscale failure record. Dun and Bradstreet (http:
your business and instead find ways to /www.dnb.com) publishes a yearly Business
start on this route but without the Failure Record report. This report is not
expense. merely an estimate; but represent
One way is to start an e-commerce site complete tallies of business failures.
where you will not have to pay for D&B defines business failures as those
furnishings, expensive rent and other that "ceased operations following
overhead that a retail store will need. assignment or bankruptcy; ceased
2. Novelty and Excitement. Another operations with losses to creditors after
strategy for selecting a business is to such actions as foreclosure or
start one that is currently hot, hip and attachment; voluntarily withdrew leaving
new. In the Philippines, for example, unpaid debts; were involved in court
pearl shakes - an innovative cool actions such as receivership,
beverage drink in natural flavors mixed reorganization or arrangement; or
with "pearls," or dark, spherical, chewy voluntarily compromised with creditors."
balls made from yam and tapioca -- became In 1997, the businesses with the lowest
the hottest craze in town. Mom and pop failure rates (per 1,000 listed concerns)
stalls and cafes offering this new drink include drug and proprietary stores (33);
popped up all over the metropolitan fuel dealers (37); sewing, needlework and
Manila. piece goods (41), used merchandise stores
You can join in the fray, and start a (47); and liquor store (52). On the other
business that has already proven itself hand, non-store retailers (216); trucking
to be a moneymaker for others. However, and warehousing (208); fishing, hunting
there is danger in adopting a start-up and trapping (273) are the businesses
strategy on prior demand--demand already with the highest failure records.
created by others. What if the business 7. Biggest Payoff. Another logical choice
runs out of steam, and the novelty and for choosing a business is to look for
excitement that pushed it initially wears those that yields the best
thin? You may be faced with cutthroat return-on-investment. This approach
competition, with price-cutting as the involves "checking through the operating
ultimate marketing weapon of choice. results for different business types to
3. Safety in Numbers. As a new find those with high percentages of
entrepreneur, you may also consider a operating profit." The best source of
business that has already proven popular, data that would allow you to determine an
dependable with consistent demand, and industry's operating profit is the Risk
can be found everywhere. Common Management Association's http:/
businesses include eating places, www.rmahq.org Annual Statement Studies.
groceries, used merchandise stores, gift This report offers financial statement
and novelty stores. If these businesses ratios of small and medium-sized
have staying power and are frequently businesses on about 600 industries. The
found, then they must be profitable, book costs $145 for non-members, but
right? Well, not always. There is such check with your local library if they
thing called "market over saturation." A carry the publication.
small town may be able to accommodate Whatever business you decide to start,
only one gift shop. Add another one and the key is to put up an enterprise that
you may be stretching the market too fills an unmet need of the market and to
thin, and end up in the dustbin.

Wednesday, March 21, 2007

Own Your Own Business

Choosing the right business is the first 4. The Fewer, the Better. On the other
step to entrepreneurial success. side of the spectrum from those who
According to studies made by the U.S. believe in safety in numbers are those
Small Business Administration, only 66.0 who think that they are better off in a
percent of small businesses survive its business with fewer competitors. This is
first two years, and survival rate lowers the idea behind the strategy of focusing
to 39.5 percent in at least 6 years. In on a market niche, which has proven to be
2000, it is estimated that 550,000 small apt, even a lifesaver, for many small and
businesses closed, and business failure home-based businesses. Niche entails
for one-person businesses is about 38.2 offering unique products or services to a
percent. few concentrated markets.
Your goal, therefore, as an entrepreneur 5. Rapid Growth. You may also want to
is to find a business that stands a start a business that has enjoyed fast
greater chance at success. You will need growth in the past years. A rapidly
to determine what you can and cannot do, growing business sector, where many new
research on the potential market and how businesses continue to operate, shows
other similar businesses are doing, and that there is great demand for the
what works well in your area or selected product; the market can absorb new
business medium. entrants; and if by looking at the size
1. Less Money Out. The first school of of businesses operating, the market may
thought focuses on the amount of be profitable even for one-person
resources that you have. The kind of businesses.
business that you start depends on the Using data from the Bureau of Census, you
amount of capital you can raise. If you will find that the sectors that enjoyed
have deep pockets, you can go all out the most rapid growth from 1972 to 1987
with your business - getting first-rate include the following: Gift, novelty and
equipment and furnishings, hiring souvenir stores (up 216%); Hobby, toy and
employees, launching the business in game shops (up 180%); book stores (up
grand style, and buying loads of 137%); Sporting good stores and bicycle
inventory. However, if you have little shops (up 127%); and florists (up by
capital, all you can do is to stretch 108%).
what you have and start the business on a The sectors that saw a decrease include:
much smaller scale. Drinking places (down 17%); Household
You may have a wonderful concept for a appliance stores (down 15%); and variety
children's bookstore with play and stores (down 5%). The reasons for the
storytelling sections for kids, and a shrinking number of businesses in these
coffee shop for the adults. That kind of sectors include overcrowding and
vision requires vast amounts of capital - declining customer interest and demand.
from inventory, lease, furnishings and 6. Failure Rate Method. You may check the
store décor. If you cannot finance businesses with the greatest number of
your vision, you may need to downscale failure record. Dun and Bradstreet (http:
your business and instead find ways to /www.dnb.com) publishes a yearly Business
start on this route but without the Failure Record report. This report is not
expense. merely an estimate; but represent
One way is to start an e-commerce site complete tallies of business failures.
where you will not have to pay for D&B defines business failures as those
furnishings, expensive rent and other that "ceased operations following
overhead that a retail store will need. assignment or bankruptcy; ceased
2. Novelty and Excitement. Another operations with losses to creditors after
strategy for selecting a business is to such actions as foreclosure or
start one that is currently hot, hip and attachment; voluntarily withdrew leaving
new. In the Philippines, for example, unpaid debts; were involved in court
pearl shakes - an innovative cool actions such as receivership,
beverage drink in natural flavors mixed reorganization or arrangement; or
with "pearls," or dark, spherical, chewy voluntarily compromised with creditors."
balls made from yam and tapioca -- became In 1997, the businesses with the lowest
the hottest craze in town. Mom and pop failure rates (per 1,000 listed concerns)
stalls and cafes offering this new drink include drug and proprietary stores (33);
popped up all over the metropolitan fuel dealers (37); sewing, needlework and
Manila. piece goods (41), used merchandise stores
You can join in the fray, and start a (47); and liquor store (52). On the other
business that has already proven itself hand, non-store retailers (216); trucking
to be a moneymaker for others. However, and warehousing (208); fishing, hunting
there is danger in adopting a start-up and trapping (273) are the businesses
strategy on prior demand--demand already with the highest failure records.
created by others. What if the business 7. Biggest Payoff. Another logical choice
runs out of steam, and the novelty and for choosing a business is to look for
excitement that pushed it initially wears those that yields the best
thin? You may be faced with cutthroat return-on-investment. This approach
competition, with price-cutting as the involves "checking through the operating
ultimate marketing weapon of choice. results for different business types to
3. Safety in Numbers. As a new find those with high percentages of
entrepreneur, you may also consider a operating profit." The best source of
business that has already proven popular, data that would allow you to determine an
dependable with consistent demand, and industry's operating profit is the Risk
can be found everywhere. Common Management Association's http:/
businesses include eating places, www.rmahq.org Annual Statement Studies.
groceries, used merchandise stores, gift This report offers financial statement
and novelty stores. If these businesses ratios of small and medium-sized
have staying power and are frequently businesses on about 600 industries. The
found, then they must be profitable, book costs $145 for non-members, but
right? Well, not always. There is such check with your local library if they
thing called "market over saturation." A carry the publication.
small town may be able to accommodate Whatever business you decide to start,
only one gift shop. Add another one and the key is to put up an enterprise that
you may be stretching the market too fills an unmet need of the market and to
thin, and end up in the dustbin.