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How To Create Fund And Start Your Own Business
Business Ideas Today
...reprinted from Excellence-Success
Is it Time for You to Grow Success?
Start a Profitable Franchise
Look – you do not have to go to business school or even graduate college!
So...you didn't spend thousands of dollars to go to business school – that does not mean you can't be successful. The founder of Kentucky Fried Chicken, Harlan ‘Colonel’ Sanders left school in the 7th grade. But Kentucky Fried Chicken is one of the biggest franchises in the world.
How did that happen? How did a guy with a 7th grade education and no ‘Business College’ do this thing that people say is impossible?
He did not listen to the ‘haters’. He just kept cooking his chicken and seasoning it up the way HIS customers liked it, and when he outgrew his space, he took his original idea, his recipes and his customers and created a FRANCHISE by immediately opening several more.
This is an easy formula to follow. You start this year. Even if you do not have ‘recipes’ for success, you can still open a successful restaurant franchise by spending a little time learning about and researching the subject.
“The Saladry” is an excellent manual that will give you detailed information that you will need to make the decision to start your franchise business such as:
Employee costs – How much you need to budget to keep both employees and payroll taxes paid.
Opening Costs – How much do you REALLY need to have in the bank before you open? (Hint it is NOT a million dollars!)
Menu – What do I serve people to make money?
When and HOW to open additional locations.
Most Business Plans are not only expensive – in the $500 range and up -http://businessplans.com/ but they are ALSO totally SPECIFIC to one shop at one location in one city.
If you are just curious about what it takes, if you just want to read a detailed plan and THEN make the decision, you do not want to pay lawyers and accountants hundreds of dollars to make a plan that you might not decide to use!
The ‘Saladry’ is a perfect manual that incorporates a great, yet basic business plan with menu planning and cost breakdowns that are generic enough that you can use them in any city, and not be limited to one location in one city.
You can use this plan as is or you can change it to suit your needs. If you want to be strictly VEGAN, you can easily eliminate the meat from the menu – if you want more deserts, you can add them in. You can even schedule a day to be closed.
Once you get it, this is YOUR plan.
The Sudden Entrepreneur
A ‘PAINFUL’ Idea can be the Start of Success
How Do I Start a Business?
The easy answer is to go to www.irs.gov and click on ‘Employer ID number (EIN) and complete the forms. It is free and once you have done that you are technically ‘in business’.
But starting a business is much more than just having a business identification number. Starting a business means that you have an idea that you have turned or are in the process of turning into a plan.
So now you may have decided that the easy part is actually the planning and the hard part is the idea –and you may be right. Once you have a plan, therefore you think it will be easy to start a business If you have an idea, so you sit down and think real hard to get an idea.
And that could be a good thing, but the better way to get a good business idea is to walk around the area where you live and figure out what it is people have to travel a distance to get and what they can get close to them.
What you are in effect doing is locating the biggest ‘pain’ for the people around you and then finding a solution for it - at a price low enough that paying you is less of a pain than dealing with it by themselves. If you do the task well enough then it becomes a convenience for people and then a necessity. Example – how many nail salons were there in 1970; how many coffee shops? But in 2018 there are nail salons and coffee shops in every block because people feel it is a necessity.
So once you have looked around you and discovered the ‘pain’ that you can solve you will have discovered your business idea.
There are books that will guide you through the budgeting process as wall as classes you can take.
Some people prefer a good budgeting program which comes with specialized accounting software and other people use spreadsheets to calculate their expenses. But whatever method you decide to use, remember to create a budget you can stick with and you will always have money in your pocket.
The Sudden Entrepreneur
By J. O’Brian
What Kind of Business Should You Start?
..Sometimes Success Depends on Focus
A business franchise near me recently got a new owner. The previous owner was happy to sell the franchise to that new owner. You may ask yourself why a person would do this. Did they get a better business? No, I happen to know the guy and he hated being indoors all of the time and he wanted to go back and work in the family landscaping business. It was less money on average, but he was happy.
You may ask yourself, right now, “Why would a person give up working for themselves…setting their own hours and making their own rules?”
The reasons for that are many – but the overall reason boils down to ‘It was not a good fit’.
So how do you make certain the business you are ‘looking into’ is a good fit? You take out a note pad and write down YOUR answers to the following questions:
Do I already have experience in this business?
**If you have 10 years’ experience as a retail manager – but you hate dealing with the public – you probably should not open a retail shop
Do I have to take classes or attend seminars to learn the business?
**Does the business interest you enough that you are willing to spend the extra time – and sometimes money - to learn the craft? – (You’ve been a CPA for 10 years – do you really want to go to culinary school?)
Do I have to hire people to help me in my business?
**Do you make shoes (or other things) yourself... or do you have to pay people to produce your designs?
How many hours – every week – am I willing to work to earn money at this business?
**Do you have an unlimited budget for trained professionals to do all aspects of the business for you? – If not, you may work dozens of hours MORE every week than a traditional job.
What 5 things do I LOVE about this business?
**Everything that you think you will love!
What 5 things will I HATE about this business?
**Do a little research…find things that people complain about and decide if they bother you.
So, If you either have experience, but hate the business OR if you have no experience and do not really want to learn it than you should move on with your search. But, even if you have no experience yet love the business and are willing to put in the time necessary to learn start and run it all on your own – then THAT is the business for you!.
You tell yourself that you want to start a business. Starting a business is much more than selling a product or service and accepting money. Starting a business means you have to have total control over your budget. In today's world, everything has a tiny profit margin, sometimes only a few cents. Therefore you need to know how to budget well for yourself.
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