Guest Blogger: Ray Moore, CFE, Vice President of Development, BrightStar
The successful franchisee will first and foremost find the right fit. The right fit may be the one that best fits his or her financial resources and goals. The potential franchisee should sit down with their spouse and family and ask some hard questions. Together they will have to decide what outcomes they need to realize to consider this venture a success. They will have to separate out the must have or non-negotiable outcomes before shopping for a franchise opportunity.
The couple/family should agree to the following each family will have to fill in the blanks according to their own circumstances. Its a good idea to consult an accountant:
1.We will not invest more than $_____ of our cash/liquid capital.
2.We will not borrow more than $______ in additional funds to capitalize the business.
With any start up, business owners need to have enough money, either set aside or in other income, to cover household bills and run the business for 12 to 18 months. The following questions will help determine how much is needed:
3.To make sure we can still live comfortably while growing the business, we will cut our household budget to $ ____ per month for at least ____ months and be sure to never exceed that budget.
4.We will only buy a franchise that we have confidence can get big enough to feed itself, i.e., income (cash flow) will cover monthly business expenses (fixed and variable costs), no later than ___ months after signing the agreement.
With many new business start ups, the owner will not be able to take a salary for 1-2 years. The family needs to know that household expenses will be covered during that time.
5.We will only seek a franchise for sale that we have confidence will be able to pay me a discretionary salary (enough to cover some or all of household expenses) without harming the business no later than ___ months after signing the agreement.
6.We will generate other income of $___ (amount needed to make up for loss of other income and savings budget) from ___ (spousal income, other household income or investments) independent of the new franchise business.
7.We will only pursue a franchise business opportunity that will allow us to have our initial investment back, i.e., pay off the start up loan from business income, in ____ months/years.
These are just some of the items that typically come up, or should come up, during the conversations leading up to buying a franchise. Asking the right questions will get you the answers you need. Ask them of yourself, your spouse, your family, the franchisor and other franchisees so you can get the full picture of what your life will be like while building your business, and what it can be like once you have established your new franchise.
Ray Moore, CFE, BrightStar
Owning a McDonald’s franchise can be one of the most rewarding experiences of your life if you know what you’re doing, if you have the resources to qualify and if you do it the right way. However, before you do your share of serving billions and billions of hamburgers worldwide, there’s a few things you need to be aware of in order to make the right decision.
Today, there are roughly over 30,000 restaurants spanning the globe in over 100 countries. McDonald’s franchise has been in existence since 1955 and the franchise owners have played huge roles in the overall success of the company.
When considering to buy a McDonald’s franchise, you have 2 options in which to do so. The first is to purchase an existing restaurant from the company or another franchise owner, which happens to be the most common practice. The second option is to purchase a brand new restaurant that is built from the ground up. In both cases, you must have a minimum of $300,000 down payment that can NOT be borrowed. You have to physically have it in liquid assets.
Other important factors in buying a McDonald’s franchise include having significant business experience, good management skills, the ability to manage finances well, you must be able to execute and deliver on a business plan, you have to maintain exceptional customer service and you have to have a good credit history. If you can’t show you have all of these capabilities, then this franchise may not be a good fit for you.
Most experts will tell you that breaking even in the first 7-10 years is doing a real good job of running your McDonald’s franchise. Part of the ongoing expenses include the traditional expenses like rent, utilities, inventory, wages and of course the 4% royalty fees that are based on gross revenues and not net profits. What’s interesting to know is that the McDonald’s corporation usually owns the land the franchises are on and the franchise owners pay their rent to the corporation. In fact, it can be argued that McDonald’s is actually in the business of real estate since they are one of the largest holders of real estate in the world.
Bottom line is that owing a McDonald’s franchise is not for the timid. You have to have considerable net worth, a good track record and still get approval by the company. Not all franchises are this way and if you don’t qualify for a McDonald’s franchise, then there are plenty of other viable options for you.
Whatever your resources, socially responsible investment (SRI) can help you fulfil your dreams, and make the world a better place. SRI means you can channel your money away from industries that contribute to the destruction of the environment, companies employing sweatshop and child labour, business involved in animal experimentation and corporation that support repressive and brutal regimes
Like any investor a socially responsible one wants to see a sound return on their investment but they also want to invest in companies that demonstrate social and environmental principles. Even though SRI means limiting choice in types of investment it has not led to any systematic under performance in stocks, in fact it have done as well as or better than others on the market.
SRI developed in the USA as a response by concerned Quakers and other people disgusted that their investments were supporting the arms trade and the Vietnam war. Since then SRI has become a growing market within the UK, and is increasing at about 34% per year Socially responsible investors include institutions such as non profit organisations, Churches, trade unions, universities and individuals from all walks of life. What they have in common is a commitment to channelling their money towards investment that reflects their personal ethics and values. You don’t have to have lots of money to be a socially responsible investor although a minimum commitment is like with most funds about 50 pounds a month.
There are two main strategies to SRI: Avoidance Screening – choosing not to invest in industries for example, those with discriminatory employment practices, business activities with repressive governments, poor environmental records, animal testing, weapons contractors and the tobacco industry.Affirmative Screening – Actively seeking out investments in activities to support such as alternative energy and natural foods, companies that show commitment to their workers, communities and the environment.
Davinos Greeno works for the and directory that lists 100s of Organic and Ethical Companies and we also have for you to read or publish.
Are you an entrepreneurial sales and management professional looking for a business franchise opportunity that will
-Provide repeat revenue through, automatically renewing contracts
-Allow you to offer services to nearly all businesses and commercial properties within a large, exclusive territory
-Capitalize on the growing business trend of outsourcing
-Allow you to spend your time growing your business, not performing daily operations yourself
-Allow you to offer a wide range of high-demand services, not just a select few
-Prove virtually recession proof
-Require very little equipment expense or inventory expense
-Be backed by a proven business model that has worked successfully since 1959
Professional Entrepreneurs want to align themselves with City Wide because we provide a proven franchise business model. City Wide offers a time-tested process that dramatically saves you,
the Entrepreneur, time to get you from zero to where you want to go as quickly and as smoothly as possible.
Paradigm Consulting and Puro Clean Franchise- Great Lakes franchise consultant Paradigm Consulting offers the Repair & Restoration franchise, Puro Clean franchise. PuroClean, a leader in
property emergency services, helps families and businesses overcome the devastating setbacks caused by water, fire, mold and other conditions resulting in property damage.
Our understanding and compassion during the recovery process has made us the provider of choice for insurance professionals and property owners throughout the United States and Canada.
We pledge to do whatever it takes to respond, restore and rescue properties in all of the communities we serve.
Imagine yourself in a career with unlimited potential for personal, professional and financial growth. PuroClean offers a unique opportunity to entrepreneurs who possess excellent interpersonal
skills and business experience.
Low Investment-High Margin Opportunity Our business model enables PuroClean Franchisees to:
-Enjoy financial freedom and independence
-Invest in your own future
-Create your own niche in an essential service business
-Set and follow your own vision for developing a successful business
-Build relationships in your community
-Access a vast network of ongoing training and support
The Repair & Restoration franchise Puro Clean franchise is doing well with Paradigm Consulting, a Great Lakes franchise consultant.
One of the major issues you have to deal with when traveling to a foreign country is currency, and the various money exchange rates. The currency in each country is remarkable different from your own, and this fluctuates on a daily basis. Even though Canadian currency is found in the United States, quite often many people will not accept it. This is because the value of a Canadian quarter is not the same as the value of an American quarter.
When you’re traveling to a foreign country, you have a few options. Generally, you’ll always be able to find a place in the airport to exchange your currency for that of the country you are entering. Keep in mind, money exchange rates constantly fluctuate. The amount of money you received for five hundred US dollars the year before, will not match what you are offered today. You can get a general idea by searching the web for money exchange rates. Many sites will also have a calculator to help you convert your base currency into another one. It’s a pretty nice tool to use, but again, remember, this will only give you the rate at that particular moment.
Quite often, when you exchange your money for another currency at a bank or airport, you will be charged a fee for the service. Many people skip this fee by using credit and debit cards when overseas. The only problem with this is that you may not find an automatic teller machine that will accept your card. Before you leave, talk with your bank about your trip, and they should be able to find out if you can find ATMs in your point of destination or not.
Another consideration when using another currency on vacation is the huge difference in value. Yen and Pounds are vastly different than the US dollar, and it may be very easy for you to become confused. Add the constant flux of money exchange rates, and you double your confusion. Pay attention to the value of the money you are receiving as it relates to your own currency, so you have a general idea of what things should cost, and when you are being ripped off.
Even making purchases online can be tricky. If you are ordering merchandise from another country, you will have to worry about money exchange rates. This is important if you are using an international money order. In this case, you must figure out the exchange rate before you buy, and hope it hasnt fluctuated too much before the payment arrives. Many people will not accept international money orders for this reason, and also because there may be a huge fee involved for them when they cash it in.
Understanding money exchange rates can be a little tricky at first, but with a little research and effort you can quickly get a handle on it.
The society being a patriarchal or male dominating one, the women involvement in most of the matters especially finances is never considered to be significant enough. Instances are there when a couple approaches a financial advisor, the male partner seems to be enjoying all the attention and leading the discussion rather the female partner.
This precisely the reason a woman rarely is heard of trusting an advisor when it comes to planning the finances. The Attitude of an adviser
Most of the financial advisers do not even consider taking the opinion of a woman in the family even if he is approached by both the couples. According to him, she is still the same women who had little knowledge about the finance related issues.
The advisers still live in the old age era when women had no decision making power on financial issues.
They rarely encourage a woman client to express her opinion. They never seek for their availability to explain the financial planning of the entire family. When they present a plan to the client they don’t feel the necessity of including the woman of the family. Advisers find explaining two people about the same plan as wastage of time, giving preference to the male partner.
Even when they meet both the couples, the preference is always given to the opinion of the husband than the wife. As because she is silent on many occasions, it is taken for granted that she does not have much understanding of the issue.
The changing scenario
With more and more number of women obtaining higher degrees and getting involved with a professional life, they have an equal hold on the issues related to finances. She know well how much she earns, or the family earns, what are the expenditures and how much saving is needed for the future requirements. There are many who work in the Finance Departments and handle the affairs brilliantly. Today’s women whether she has a major in Mathematics or economics or not, has a fair knowledge of financial development happening in and around. She is completely aware of various Insurance Plans, the benefits, the premiums and the taxes which she or her family is supposed to pay.
Rosy Brown is Social Media Expert and a Technical Writer. She believes in sharing his experience and intellects through live discussion or/and write ups. In this article she has discussed about advisers, women, client, financial, planning.
Owning franchises in the USA is exact one way to create money for yourself and for your concern. There are complete sorts of motives why anyone might want to invest in a franchise on their own, and there certainly are few accepted franchises in the United States.
If you have ever wanted to know about what’s required when owning a franchise of a certain group then here is the knowledge that you require. Here’s a trivia inquiry that you can catch home to your family, although: what franchise has been ranked #1 many times over? You possibly could very well presume what it is, and if you were thinking McDonald’s Restaurant you were closely right. There have several times when McDonalds Restaurant has been ranked #1 for the food category it’s been placed in, but here are some other interesting facts about owning a McDonald’s franchise:
The McDonald’s Franchise
McDonald’s Corporation is one of the world’s largest chain of hamburger fast food restaurants, serving nearly 47 million customers daily and more than 11,000 McDonald’s franchises all over the United States.
McDonald’s has seen enormous growth in the restaurant level over dozens of times and it has basically created a world filled with Chicken McNuggets, Big Macs, and Ronald McDonald characters.
In order to have a McDonald’s franchise about the only thing that is essential of the franchisee is to have a cash liquidity value of about $100,000. In addition, the franchise fee for owning a McDonald’s is set right at about $45,000 and the total investment that one is required to put forth when creating a McDonald’s franchise restaurant altogether is somewhere between half-a-million dollars and one-and-a-half million dollars.
Burger King is a global chain of hamburger fast food restaurants headquartered in unincorporated Miami-Dade County, Florida, United States. The company started as a franchise restaurant chain, based in Jacksonville, Florida in 1953.
The franchise fee is more, the total franchise investment is more, but the only thing that is less is actually the royalty fee, which is just around five percent. Burger King franchise price exact double what a McDonald’s franchisee is required to have offered and pay.
These are two of the most accepted franchises throughout the United States. The McDonald’s Corporation is definitely the best one, but the comparison up against their fast food restaurant rival, Burger King, is interesting as well.
The complexities of the subject matter within this article strive to give you a better look at what this subject is all about.
Know forex strategies and get better knowledge of the market cycles What are these strategies required? Forex simply means the trade of currencies. There are many currencies in the world which fluctuate in their value daily, hourly etc. So people try to make some profit from these fluctuations, since you can buy and sell any currency. But there a risk involved in this trade. You can never be sure which side a currency will move. And hence the term strategy comes into picture. You will have to use some kind of plan of action so as to be safeguard from the never stopping fluctuations. There is still no strategy available that can give you a 100% surety about the fluctuation of the market. But you can have some plans which are very comprehensive, complex and tricky but they give good idea about these changes and help many investors all over the world to gain from these changes. There are two constituents of a ; technical analysis and the fundamental analysis. Technical analysis: When the whole strategy is based in charts and their interpretation, this part comes into picture. This part will help the investor in knowing the boom and the depression region of the market. This plan of action involves mathematical formulas and derivations to give you results. Fundamental Analysis: This is done on a macro level. When you are trading between currencies of two countries, you use a detailed fundamental analysis of the pair. The two economies of the nations are evaluated and day to day changes of the political and financial word of those two nations are closely followed since these also have an effect in the currencies. When you go out to win, you should always think of using both the constituents of the strategy. Only when both the parts are worked upon simultaneously you will understand the detailed fluctuations and how is it affecting your investment. Apart from using all these strategies and plan of actions, it is very important for a trader to be realistic and practical in approach. The trader should have a positive attitude towards the whole market and a rash emotional decision should not be taken under the influence of affinity and love towards a currency or pair. For beginners, we will advice to start using basic level forex strategies so that they too make smooth and sound transactions in the forex market.
Call Center Franchises and Remote Pizza Agent offer professional yet personalized telephone support for established and growing businesses alike – from answering the clients calls when they cannot, to telephoning potential customers and arranging appointments on their behalf. In fact, they can handle just about any activity which involves using the telephone effectively.
The Norbells vision is to ensure service offerings were more custom-made to the clients needs and budget. Our pricing structures are completely transparent, enabling clients to easily calculate their return on investment. Future of Call Center Franchises is very exciting and bright.
Are you interested in starting your own business but afraid of doing it all on your own?
We at Norbell have solution for you. Over the last 9 years, thousands of people have discovered that Call Center Franchising with Norbell is the secret to finding an independent, fulfilling career.
No previous technical experience required to start Call Center or Remote Pizza Agent center. Norbell has become a leading worldwide franchising opportunity by developing an extensive call center training program that will get anybody started with a new business. Norbell will also offer you support throughout your career with our team of professional and trained support staff.
The reputation of Norbell speaks for itself. Entrepreneur has consistently ranked Norbell finest in the worldwide Call Center Franchising and Remote Pizza Agent category. With our franchisees operating around the world, weve grown and developed a unique business strategy and methods of operation that are designed to help you quickly start a profitable, sustainable business.
Foundation of the most trusted and profitable franchising program are Training and Support. This is the reason that we dont require you to have technological and consulting experience. Youll learn the methodology and principles of a successful franchise in our extensive Certification procedure. Youll then be ready to create a profit-driven and knowledgeable Call Center or Remote Pizza Agent Franchise, all the while making use of our on-demand support structure to help you along.
No Minimum Commitments
Get 30 Days Free Trial
In/Out Bound Services
Starts from US $6.99/- Per Seat per Month
Our simple concept of mutual success is the driving force behind Norbell and has helped thousands of franchisees take their places in the global market.
Take the steps today to become a part of the worldwide Norbell! Dont put off any longer your business aspirationsnow you have the tools you need to succeed!
As you may already know, tax foreclosure properties are those that have been reclaimed by the local government for failure to pay taxes. The properties are then sold through auctions. While you can find some great deals by opting to purchase these homes, make sure to take a few precautions before you begin bidding.
Check Out the Property
If possible, you should try to see the property before you place a bid on it. As with other types of foreclosed homes, tax foreclosure properties are often not left in great shape by the past owners. To some extent, you can understand the bitterness and anger involved in having your home taken away but when youre the one purchasing the property and having to sink a lot of money into the home to repair ridiculous and deliberate damage it can also be frustrating.
By looking at the property before bidding, you can more accurately determine a maximum threshold for bidding. For example, if $20,000 in repairs are going to be needed, you may want to lower that upper bid level by about that much.
Check for IRS Liens
While local tax liens take precedence over mortgages and other types of liens that might tangle up the title to the property, claims on the property placed by the Internal Revenue Service cannot be so easily dismissed. Before bidding, you may want to do a check on the title of the property to make sure no IRS liens are present. Otherwise, you could find yourself owing someone elses tax bills and having to take the old owners to court to recoup your losses.
When youre purchasing tax foreclosure properties, you want to get the best deal possible so take the precautions listed above to make sure your purchase doesnt end up costing you more in the long run.