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Posts tagged evaluating opening a business
Assessing For The New Year
Jan 2nd
Time to explode into 2012 with creativity and perseverance.
Over the last week of 2011 I was contemplating what’s next in 2012. I have two businesses in the process of being opened and wanted to look at what I need to really make them happen in the next 30 to 60 days.
One of the things I realized is that I wasn’t used to working on my own, setting my own schedule, etc. I wrote about that a short time ago. However, I was thinking of what I could do to remedy the fact that I’m constantly finding myself spending more time More >
Eight Things To Contemplate Before Opening Your Business
Sep 9th
Make A List, Check It Twice, Save Yourself From Headaches
You were relaxing in the tub and all of a sudden you had the most brilliant idea in the world. You know it’s a winner. You’re all fired up and ready to conquer the world. Before you make that fateful jump take a look at these eight rules you need to apply to see if your brainstorm is the next Google or Facebook.
- Do A Dry Run: Pick a group of friends, relatives, associates, etc., that you think would use the product or service and tell them about it. If you think someone might More >
Buyer Beware: Franchise Warning Signs
Aug 30th
Recently I wrote about how to buy a franchise. Mostly I covered the steps that are usually required before both parties make the final decision. Here are some warning signs that purchasing a particular franchise may not be in your best interest. Remember buying a name should mean that everything is in place for you to step in and make money. You shouldn’t have to start from scratch in planning how to run your business. That’s what independent business owners are up against – starting from scratch.
Avoid this sign, by making a good franchise purchase decision.
Scrutinize the financial end of More >
Is A Franchise In Your Future?
Aug 14th
Many people dream of owning a franchised store. Not necessarily because it is franchised, but because they like the store themselves and think it would be cool to own one. Most of the time these are pipe dreams, but if you’re seriously considering putting up the big bucks to buy a franchise here are a few things you should keep in mind while going through the franchise purchase process.
First there’ll be an initial interview. You’ll talk with a sales rep, either on the phone or in person, to see if there really is mutual interest. You get to know one More >
What Are The Best Things To Do Before Starting Your Business?
Jun 24th
If you get on the Internet today it seems everyone has a list of do’s and don’ts before opening a business. It can make your head swim trying to figure out which of these things are really necessary. You could just keep going round and round doing everything listed, and never actually get a business started.
I looked at several sites and found some common threads. First, have a business plan. You may not need to do a formal document, but you do need to know what your business is and isn’t. Have a concrete idea about the scope of your More >
Good Cook To Chef
May 30th
All your friends are ranting and raving about your meals. Constantly you’re hearing about how you should “really open a restaurant.” After hearing it for the thousandth time you’re starting to think it might be a good idea. Before you take the plunge, learning a little about what you’re getting into is well worth it.
In order to understand the restaurant business it might be a good idea to step into their shoes, literally. Working at a restaurant similar to what you want to open, will give you a feel for everything involved. Cooking for 10 or 12 friend is very More >
Hope For The Best Prepare For The Worst
Mar 27th
Too many people who start new businesses have a fairytale idea of waltzing out of their old job and into a million dollar business of their own. This can happen, but usually there is a long road to that first million.
Owning your own business can be highly rewarding, but also devastating. Being prepared and understanding the risks can help you decide if now is the right time to start a new business.
There are really two main areas that you need to be prepared for. The first is the possibility of losing money. In a study done from 1992-2002 half of More >