Wednesday, March 17, 2010
Selling Your Business And The Power Of Competition
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More than ever before, the selling of your business has become extremely competitive. As a seller, in this market, you are competing with a greater volume of similar businesses for sale, buyers' investment choices in this very tight and limited financing environment and, most importantly, the brokers' time and involvement in your listing.
Here, I would like to focus on the latter-the brokers' time and involvement in your listing. By the way, by "broker" I do not mean the person who got your listing, I really mean the thousands of other brokers in the market, whose purpose is to find a buyer for your listing and, as such generate a commission.
They and your broker SELL YOUR BUSINESS. Now, they are human, folks. So, they look for listings that meet a "Selling Criteria"-- In other words, the listings that have a greater probability to sell. Now, what do we mean by a Selling Criteria? Let me give you a few elements of it:
They and your broker SELL YOUR BUSINESS. Now, they are human, folks. So, they look for listings that meet a "Selling Criteria"-- In other words, the listings that have a greater probability to sell. Now, what do we mean by a Selling Criteria? Let me give you a few elements of it:
a. Commission.
Many sellers like to pay less commission than standard on their listing. Guess what? Some brokers look at higher commission levels. Money speaks so they move to higher commission listings.
Many sellers like to pay less commission than standard on their listing. Guess what? Some brokers look at higher commission levels. Money speaks so they move to higher commission listings.
b. Financials. In our business, we can disclose a business' profit and loss in more than one way. Although there are several ways in which we can disclose it, let me focus on three:
1. Owner to Prove. This means that an owner's financial figures shown on the listing will be proven by the owner. Brokers and buyers normally spend little time with this kind of listing.
2. Profit and Loss Statements. This means that the numbers shown on the listing are backed by prepared financial statements-it could be QuickBooks, Accountants or CPA's. Obviously, a preference would be audited financial statements, which seldom is provided.
3. Tax Returns. Buyers and Brokers both like Tax Returns. They are normally an understated indicator of the financial results of the company-as I mentioned in a previous blog, the understatement occurs through cheating.
c.
Proper Documentation. Lease agreement, Franchise Agreement. This information provides the broker with greater insight on your ability to sell the business and help buyers make a quicker decision to buy your business.
Proper Documentation. Lease agreement, Franchise Agreement. This information provides the broker with greater insight on your ability to sell the business and help buyers make a quicker decision to buy your business.
d. Equipment List. The lists represent incremental value, therefore, more appealing to buyers.
So, if you want your business to sell, BE COMPETITIVE!! Please make sure that you meet the very minimum level of the "Selling Criteria" and provide your broker with the right information, as listed above, to be competitive.
Should you want to know more about buying or selling a business in Central Florida, please contact Fernando Simo at 407-361-8886, email me at fsimo@tworld.com or please visit my webpage at www.bizbuyorsellflorida.com .
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Selling Your Business And The Power Of Competition
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People use MiNeeds.com to get competitive bids from local professionals, such as: photographers, lawyers, home contractors, wedding services, accountants, web designers, movers, etc.
Labels: business, business competition, business of competition, competition, competition of business, power of business, power of competition, selling, selling your business, your business selling
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Friday, March 12, 2010
Top 5 UK Childrens Franchises
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Having ran a franchise directory for some 3 years now, I feel that the experience I now have compared to when I first started is invaluable, especially when it comes to picking out good franchises from the bad or the mundane.
2. Go Kart Party - A completely different childrens franchise here in that no you do not have a retail outlet and instead you take kids out for go kart parties. This looks like an excellent opportunity to run and again one that will have the kids driving their mums up the wall every weekend to go and use their services. 'm just hoping they have a few adult sized ones too for the parents.
3. Kumon Educational - Slightly more relaxed this one, no dealing with screaming kids for a start! Here we have the UK's most respected tutoring business who have an excellent system and really care about not only their franchisees but the children they teach. Their teaching methods are all well researched and they put the childrens educational needs at no1 with this excellent opportunity.
4. Eco Art Cards - I told you the range is diverse! Eco Art Cards transform childrens artwork into high quality greeting cards which are then sold to parents and grandparents raising funds for the school or specific childrens charities. You make money and they make money so everyone is a winner here and this is a real feel good franchise where you can give something back.
5. The Family Grapevie - Ever wanted to run your own magazine? Well now you can with this family orientated local area rag mag franchise. The Family Grapevine's low cost magazine publishing franchise is the ideal creative career for ambitious parents who need to work at home while caring for a family. So if you feel like you have a creative streak and love children and the family life then this one could be just your ticket to running and enjoying your own magazine based business.
Like I said, there are a great range of childrens franchises out there and this is just the tip of the iceburg. As with all franchise though you really do need to do the proper research to ensure this franchise is for you and the one that your money will be best spent on. Even when buying into the most reputable franchise there is with the best training and support, if you are not right for the job then failure can be looming.
About the Author
Matthew Anderson is the owner of the leading UK franchise directory featuring childrens franchises and franchises for sale from all industries
One particular category of franchise opportunity that I love to work with is the childrens franchise category which has such a diverse range of fun looking opportunities that there really is something there for everyone. Other than the diverse range though, I have also found that childrens franchises tend to be more reputable and I have yet to find a franchise scam or badly ran franchised business in this industry sector.
So lets start at the top with my top five Childrens based franchise opportunities.
1. Sugacane - Sugacane are top of my list as this sweetie shop franchise just looks too good to be true. I mean, who would not love to be a WIlly Wonka and with this franchise they have several twists on the normal store full of sweet jars.
1. Sugacane - Sugacane are top of my list as this sweetie shop franchise just looks too good to be true. I mean, who would not love to be a WIlly Wonka and with this franchise they have several twists on the normal store full of sweet jars.
For instance they have what they call the SugaShake. This is a machine in the shop where you can throw in any of your sweetie purchases and turn it into a sugary sweetie shake. I can see the kids coming from miles around to use this!
2. Go Kart Party - A completely different childrens franchise here in that no you do not have a retail outlet and instead you take kids out for go kart parties. This looks like an excellent opportunity to run and again one that will have the kids driving their mums up the wall every weekend to go and use their services. 'm just hoping they have a few adult sized ones too for the parents.
3. Kumon Educational - Slightly more relaxed this one, no dealing with screaming kids for a start! Here we have the UK's most respected tutoring business who have an excellent system and really care about not only their franchisees but the children they teach. Their teaching methods are all well researched and they put the childrens educational needs at no1 with this excellent opportunity.
4. Eco Art Cards - I told you the range is diverse! Eco Art Cards transform childrens artwork into high quality greeting cards which are then sold to parents and grandparents raising funds for the school or specific childrens charities. You make money and they make money so everyone is a winner here and this is a real feel good franchise where you can give something back.
5. The Family Grapevie - Ever wanted to run your own magazine? Well now you can with this family orientated local area rag mag franchise. The Family Grapevine's low cost magazine publishing franchise is the ideal creative career for ambitious parents who need to work at home while caring for a family. So if you feel like you have a creative streak and love children and the family life then this one could be just your ticket to running and enjoying your own magazine based business.
Like I said, there are a great range of childrens franchises out there and this is just the tip of the iceburg. As with all franchise though you really do need to do the proper research to ensure this franchise is for you and the one that your money will be best spent on. Even when buying into the most reputable franchise there is with the best training and support, if you are not right for the job then failure can be looming.
About the Author
Matthew Anderson is the owner of the leading UK franchise directory featuring childrens franchises and franchises for sale from all industries
Labels: best business, business, business opportunities, business start up, franchise business, franchise opportunities, franchises, start a business, starting a business, starting small business
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Franchise an online Business
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Doing business online.
For many people this is a real goal. Many people want to be online because it will add to the income of an existing business. Many are looking to start a new business they can work from home. And many are looking for a business on the side, to earn extra money.
OK so you want an online business, all you have to do is have a product or products to sell and build a website. Get that site indexed by the search engines, advertise, and make sales. See how easy that sounded?
And easy it is if you have either the time or the money to perform the tasks yourself or hire them out. How much time and how much money? Well I will give you an example: I own a brick and mortar business where we fabricate custom interiors.
My customers will ask the same question, "How much does it cost and how long will it take?" My answer is somewhat simple, "It depends on what fabric you would like to use. Fabrics can range in price from $8-$10 per yard on up to $300-$500 per yard." Now if the client needs 50 yards of fabric for the project, you can see the price differential. It's the same with building an online business.
There are a myriad of cost ranges involved based on what you want your business to be. This brings me to offer the possibility of Franchise.
Just like in the brick and mortar world, you can franchise a business online. You get everything all set up for you, just fill in some blanks, and the owners do all the rest to promote your business. A fee is charged, usually on a monthly basis, but all the sales go to you.
Now a Franchise. may not be for everyone, there are restrictions at times on how much you can use your creativity. Notice all of McDonalds arches are golden, you don't see any with pink arches..you get my point. Still, I have used a franchise for some time now and I am very happy with the income generated through a hands free online business call a home income portal.
This Franchise. offers income from a wide variety of partner sites such as Amazon, Google, ClickBank, and many more you can add. It is set up so the sales are made right from your site, and paid directly to you through the accounts you set up. So once you agree to the $60 per month payment and go through the set up process, you're pretty much done and on autopilot. I like it because I just go in now and again and do a little tweaking otherwise I just collect the money each month.
About the Author
George welcomes you to check out the the highest quality products available for franchise at http://bit.ly/dytIdw the home income portal.
Labels: business, business opportunity, business start, business starting, franchise, franchising, home based business, home business, internet business, new business
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Thursday, March 11, 2010
Franchise Business Owners Top Complaints
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It is inevitable that starting and successfully operating any small business today is always going to generate an ever evolving list of complaints and disappointments for most owners. Entrepreneurs that choose franchising as the means to open a small business will have many of the same complaints as independent owners do along with a few unique ones because they are ultimately bound to a long term relationship with their franchiser.
Here are a few of the most common complaints I hear from franchise owners regarding their relationship and experiences with their franchiser.
My Franchiser Is My Competitor:
This is one the most common, and in my opinion most valid complaints I hear from some franchise owners. It is the nature of small business that you are going to have competitors, but when your franchiser is creating the competition and diluting your market share by opening multiple locations uncomfortably close to yours that is a tough pill to swallow.
Before signing any franchise agreement make sure you thoroughly investigate and understand the rights and restrictions for your specific franchise territory. This would include speaking to other current franchisees in your target territory and asking them to share their experiences with competition from other franchisees.
Those Monthly Royalty Fees:
I have found that many new franchisees are so excited about getting there location open that they often defer any concerns about paying monthly royalty fees. However, once the initial excitement wears off, and they are involved full time in the hard work it takes to become successful those royalty fees become a much more tangible reality and commitment.
The biggest complaint I hear from some franchisees regarding paying royalty fees is that they feel the franchiser does very little or nothing in return for them. Whether that is true are not (I have no doubt that it is in some cases) unfortunately at the end of the day it is ultimately the responsibility of the franchisee to adhere to the terms of the franchise agreement they signed.
Before signing any franchise agreement make sure during the disclosure process you speak to as many current franchisees possible and ask them if they feel they are getting real value from the royalty fees they pay.
Too Many Restrictions:
I often hear complaints from some franchise owners regarding the number of operating restrictions placed on them by their franchiser. Many complain that the franchiser exerts onerous control on how the business can be operated and are often frustrated that they are unable to react independently to local market realities and demands.
I am sure a lot of these complaints are valid, but I guess I am a little less sympathetic to these types of complaints for the simple fact that the franchisee chose to buy into a franchise system with known controls and restrictions. Many of which have been proven to given the franchisee a greater chance of success- which is the essence of the franchising.
That being said, I would advise before buying any franchise business you honestly ask yourself if you have the right personality to follow a pre-determined franchise business system and all its inherent operating rules and restrictions.
Oversold Potential:
As a Business Broker I have heard a number of new and established franchise owners complain that they felt they were oversold on the potential earning power of their franchise business. This is a tough complaint to validate because it is generally a known fact that most franchisers do not disclose their earnings and are generally very careful about discussing earnings potential for a typical franchise location.
That being said in my experience sometimes the franchiser (or their sales people) along with existing franchisees can sometimes paint an overly optimistic picture about how soon and well a typical franchise location will perform. Your best bet to mitigate this potential disappointment is to speak candidly with current and former franchise owners and ask them if your expectations are overly ambitious.
Summary:
Please keep in mind that all prospective business buyers should thoroughly investigate any franchise or business, obtain all appropriate disclosure documents available, and seek expert consultation prior to making any investment decisions.
About the Author
Ray Haiber has 10 years experience as a professional small business broker in Arizona with info at http://www.azbop.com View and research franchise opportunities for sale throughout the USA by visiting: http://www.premierfranchises.com
Labels: best franchise business, business owners, franchise
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How and Why Should I Franchise My Business?
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When a franchisee butts head with his or her franchisor in court, it is usually the franchise owner who loses. In fact, many claims by franchisees against their franchising organizations never even reach court. This owes to the fact that, most often, franchise owners cannot afford the high costs of litigation and are forced to drop their disputes.
Even though litigation may more often than not favor franchise companies, many would still rather avoid litigation. Franchisors prefer to stay out of court because suits brought against them by their franchises reflect poorly on franchising companies, regardless of the outcome. As such, many would prefer to pursue mediation and arbitration as an alternative to lengthy and public legal battles.
Mediation
Mediation is a non-binding means of resolving conflict between franchisor and franchisee. In order to pursue mediation both franchisor and franchise owner must agree to attempt to settle their dispute by means of a mediators non-binding decision. The mediator, being a neutral third party, then hears the complaints and defenses of both franchisor and franchisee and attempts to make a reach a peaceful and equitable solution.
Mediation allows for a quick and relatively inexpensive means of conflict resolution. However, since the decision of the mediator is non-binding, both parties must actually agree to abide by the decision. If one or both parties is not in agreement with the decision then the issue may move into arbitration or litigation.
Arbitration
Unlike mediation, arbitration is a more formal means of conflict resolution. The decision rendered in arbitration can be either binding or non-binding depending on the agreement of both the franchisee and franchisor prior to arbitration. Arbitration proceedings are similar to court proceedings in their approach, with both franchisor representatives and the franchise owner presenting their cases before the arbitrator or arbitrators.
Like mediation, arbitration generally is a more economical and less time consuming alternative to litigation. If both parties have agreed to hold to the binding resolution of the arbitrator than the need to litigate is eliminated and the conflict can be considered resolved. However, if the arbitration isn't binding and both franchisor and franchisee do not agree to the ruling of the arbitrator, then the dispute may end up in litigation.
Litigation
Both mediation and arbitration are means to peacefully resolve conflict while maintaining the integrity of the business relationship between the franchise owner and franchisor. Litigation, however, most generally constitutes a breach of contract and effectively ends the business relationship. As such, it should be viewed as a last recourse for franchisees who wish to have their dispute resolved while maintaining their franchisee status.
As mentioned above, litigation seldom favors the franchise owner, if for no other reason than the cost of doing battle in court may exceed the owner's means. Furthermore, franchising contracts, being drafted by legal advisors for the franchising organization, most generally work in favor of the franchising organization. This can be held as true both in the business relationship between franchisor and franchisee and in any legal dispute between the two parties.
Have additional franchising questions? Get more franchise information with a real business example at{a href="
http://www.firstprizefranchise.com/filtafry/"} Filta Fry . The Filta Group is an international franchising company located in Orlando, FL. For immediate answers to your franchising questions, call 407-996-5550.
Additionally, you can get more information on Filta's emerging franchise by going to {a href="http://www.prweb.com/releases/filtafry/mobilefranchise/prweb2663514.htm
"} filtafry.
About the Author
Brad is an oil filtration specialist who has become a filtafry franchisee. If you are interested in the benefits of oil micro filtration, visit their website.
Labels: best franchise business, buy a franchise, buy franchise, entrepreneur business, franchise a business, franchise for sale, franchise information, franchise sale, internet businesses, start your own business
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Franchise an online Business
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Power Vegetables In A Drink |
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Doing business online. For many people this is a real goal. Many people want to be online because it will add to the income of an existing business. Many are looking to start a new business they can work from home. And many are looking for a business on the side, to earn extra money.
OK so you want an online business, all you have to do is have a product or products to sell and build a website. Get that site indexed by the search engines, advertise, and make sales. See how easy that sounded?
And easy it is if you have either the time or the money to perform the tasks yourself or hire them out. How much time and how much money? Well I will give you an example: I own a brick and mortar business where we fabricate custom interiors. My customers will ask the same question, "How much does it cost and how long will it take?" My answer is somewhat simple, "It depends on what fabric you would like to use. Fabrics can range in price from $8-$10 per yard on up to $300-$500 per yard."
Now if the client needs 50 yards of fabric for the project, you can see the price differential. It's the same with building an online business. There are a myriad of cost ranges involved based on what you want your business to be.
This brings me to offer the possibility of Franchise. Just like in the brick and mortar world, you can franchise a business online. You get everything all set up for you, just fill in some blanks, and the owners do all the rest to promote your business. A fee is charged, usually on a monthly basis, but all the sales go to you.
Now a Franchise. may not be for everyone, there are restrictions at times on how much you can use your creativity. Notice all of McDonalds arches are golden, you don't see any with pink arches..you get my point. Still, I have used a franchise for some time now and I am very happy with the income generated through a hands free online business call a home income portal.
This Franchise offers income from a wide variety of partner sites such as Amazon, Google, ClickBank, and many more you can add. It is set up so the sales are made right from your site, and paid directly to you through the accounts you set up. So once you agree to the $60 per month payment and go through the set up process, you're pretty much done and on autopilot. I like it because I just go in now and again and do a little tweaking otherwise I just collect the money each month.
About the Author
George welcomes you to check out the the highest quality products available for franchise at http://bit.ly/dytIdw the home income portal.
Labels: best franchise, business online, online business
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Develop a Standalone Business Model for Your Franchise
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With my background in franchising, it's quite natural for me to look at just about every business and wonder what the 'model' is behind it. What I mean by this is - what do the cogs look like; what do they do and what results do they generate? I have to look at businesses in a structural way, because that is why franchising is a successful growth or exit model: it's about finding a winning formula, sticking to it and repeating it over and over.
A trap that most business owners fall into very early on is in trying to do everything themselves for one of two reasons: 1. fear of losing control or 2. not trusting that anyone else can do the job properly. The biggest learning for a business owner to latch on to is to build a business that does not depend on him/her.
Even if you have not franchised your business, you should be following the principles - starting with removing yourself from your business. This is your first step to creating a Standalone Business Model.
Do you want to be frazzled for most of your business life because you can't walk away for a few weeks? No? Then ask yourself some of these questions which will help you to make a good start to identifying what you can automate in your business:
What are you doing right now that can be delegated? Make a list of what you do today - everything, down to filing, reading emails, opening post, stamping something etc. Bear in mind processing of enquiries, sales meetings, staff management etc. This will lead you on to the next question...
How much of your business is outsourced right now? You may already have done an exercise this year to see what you could streamline and where you could save on overheads and staff time. If you have - make a list of what these things were and also look at what you have experienced since actually outsourcing those things (benefits/payoffs). What else are you doing that could be outsourced?
What do you do every day that is repetitive behaviour? The way to find out what works and what doesn't is to look at which actions or activities bear which fruits. So, what are you doing that actually doesn't contribute anything directly to your bottom line? How can you change this and create an action or activity that turns it around and does add to your bottom line?
You may also have certain activities that you HAVE to do, which DO bring in direct business and/or sales - and these need to be repeated and actioned more! This will form a part of working out what your winning formula is.
What are you doing in one area of your business that you can easily replicate elsewhere?
You have some areas in your business that are running really well and very smoothly. Ask yourself what you are doing right in those areas and find a way to replicate the process or structure that you are using there on another area.
If you can answer these questions in your business, you will be ahead of the game in formulating what business model you are working with and be in a better position to establish how to develop it to be less dependent on you...even if you have to put some things in place that will only create a Standalone Model in a year's time.
Be smart. Review your model frequently to ensure business longevity and more importantly...your sanity.
About the Author
http://www.expertfranchiseguide.com
Get Shelley's FREE report that outlines 'The 7 Critical Realities You Need to Know Before You Buy a Franchise' by clicking here and going to 'Want to Start a Business', orGet your copy of her e-book 'Buying a Franchise: A Route to Entrepreneurship' by clicking here.
Labels: a business selling, business model, franchise
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Looking To Start A Franchise?
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There are many reasons on why you should not start a franchise in this century. Simply, there is a better way! You do not need to put yourself in all that overhead and costs and so much stress when there is a better way. Now let me share a story about my mentor and my coach.
He was is debt a quarter million dollars. At the end of one year of him opening his franchise, which was a restaurant, he noticed he was not making any money and was still in debt a quarter million dollars! What did he do? Your about to find out.
He turned to the internet and found an online business opportunity and now makes 5 figures a month, working from home, and only 3-4 hours a day. Would you like that lifestyle? Or would you like to be working 12 hour days and having to worry about employees and inventory and all the debt your in? If your a smart person I think you will make the right decision from now on. A few more things.
Why is it so easy to make money online? You can leverage the internet and have it do the heavy lifting for you and not having to worry about employees and inventory and so much debt! The internet has come to save us all and allow us to create our own lifestyles and not struggle so much. One last thing.
I told you there was a better way! I told you do not start a franchise! Now what are you going to do? I hope this helped and I hope you take action today and research online businesses and how well so many are doing working from home and staying with their families all day. Life is good. So let me share something with you.
I am a master marketer and business consultant on a mission to create 100 millionaires by 2012 using the internet. What are you going to do about it? Want to start working with me? Go To http://wealthcreations.ca/
About the Author
Successful entrepreneur, working from home, on a mission to create 100 millionaires using the internet!
http://wealthcreations.ca/
Labels: looking to franchise, start a franchise, to start franchise
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Hello World
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Welcome to the Franchise My Business
Labels: a business selling, best franchise, best franchise business, best franchises, business broker, business brokers, business for sale, business franchise opportunity, business franchises, business ideas
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