Start- Start-Up Company Compa Alternatives
BUY a Franchise or Existing Business
Most would be new business owners think generally of starting a business from scratch - doing all of the research, setting up
accounting records, planning, marketing, etc. But there are other alternatives!
Buy a Franchise - There are franchise agents who represent many individual franchisors for a multitude of business types. Franchises
account for about 12% of business, but, 50% of retail sales. They include
the whole range of retail, personal or corporate services, fast food,
building maintenance, consulting, etc. It costs you nothing to ask. Any
fee is paid by the Franchisor. You should check it out so "you can be in business for yourself - but not by yourself"!
Buy an Existing Business - There are brokers that sell businesses just like they sell houses. Business become available to buy due to retirement, illness, partner disputes, lack of succession planning, loss of interest, etc.
Open a Web Based Home Business - Every new business should have an internet strategy, but this alternative is solely internet based for those who want to work from home. All
we want to do is expose you to this as an option.
How do you assess your options?
1. Use a free franchise consultant, like
2. Investigate via web , check Trade 3. Review businesses for systems and 'fit'
with yourself
4. Investigate costs and financing available
5. Call Franchisor and study in detail FDD -
Franchise Disclosure Document
6. Call and visit other franchisees
7. Visit home office of franchor -
called "Discovery Day!"
8. Final review with advisors - legal,
accountant, business planners, etc.
Why go the franchise route?
Franchisor's industry experience Franchisee training - 2 to 8 weeks Ongoing support- new products, technology Sales, advertising & purchasing 'systems' Site selection guidance, if needed Simplicity by focusing on a 'niche' Culture of teamwork - meetings, exchanges Evaluating a Business to Buy.
1. Assess your experience, interests, location
desired and money available
2. Research on web , assess competitors, etc. accounting advisors for search,
evaluation & negotiation
4. Get balance sheet, income statements and
copies of tax returns for 3-5 years.
5. Review or get an appraisal - look for bad A/R,
law suits pending, useable inventory, renewable
leases, etc.
Structuring a Purchase Agreement
Buy the assets, except cash, A/R & liabilities - seller responsibility Buy the stock of the predecessor company Buy on installment basis, as a leveraged buyout, a earn-out or stock in new owner Draft a purchase agreement Negotiate and sign a final contract
Basics of a Web Business
1. Decide your purpose: product or
service, B2B or B2C, affiliate
marketing, or information only
2. Register you business with the state
and add a complimentary domain
name with appropriate extension
3. Draft ideas on style, colors and
content based on your objective and
Internet samples.
4. Who will build and host the site-
a. Developer from your draft
b. You from a template, like this site
5. Coordinate any print and web
materials
6. Get visibility and market your site
a. Search engines and SEO
b. Links to and from other sites
c. Print/brochure/business cards
d. Referrals by sociates/businesses
7. Refresh your site with new
material/products
Website Features of a Template or Site
Easily maintained - changes by you Accept credit cards PLUS Paypal Integration with your accounting system
Manage inventory and returns? Shopping cart if products are involved
Tie to any Social Media you use Need for blogs, helpdesk, email forms?
Place for a calendar, forums, polls? 24/7 availability for convenience "Opt In" for newsletters & marketing Good search feature if you have many items, sizes or colors
Easy navigation and related links Privacy protection for credit transactions
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Small Business Tools
offering time saving Help!
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