Copyright © ARW Ventures LLC
http://www.GoldenInternetSuccess.com
You know you want to go into business for yourself, but what do I want to do is a question people often ask themselves. Once you do some creative thinking and determine you are the type of person who can be a business owner, whether from home, at home or in a franchise situation, finding the right business can be as important as the decision to go into business for yourself.
Look into the many franchise opportunities that have an interest and you can afford, and then choose three or four opportunities. Be sure to look closely at the details of the francise as far as initial investment and on going costs you will have for the francise. You can then narrow the list be researching their viability in today’s market as well as the saturation in your community. For example, if you are considering a franchise of a nationwide malt shop and there are none within 50 miles of your home, the demand may make it a worthwhile investment.
On the other hand, if there two or more other malt shops in the community, any malt shop business that exists will split three ways. Additional outlets do not automatically create a larger market. Most times it simply divides the market by one additional outlet. You will also want to consider profit potential and always keep in mind the initial franchise fee, the monthly franchise cost as well as the cost of company-owned supplies when comparing opportunities. A franchise for a product that is in high demand and used by many is usually better over all than something that has a limited number of users. For example a franchise for complete meals offers something to everyone while a malt or ice cream shop is just for those wanting the malt or ice cream option.
How long it will take to reach the break-even point, that is the amount of your investment and associated costs, will be paid and monthly charges offset by sales income, before making a decision. It will not hurt to talk to other franchisees to learn of their experience with a particular company. While many may not be willing to share detailed information with you, since you are not yet a member of the “family,” they may be willing to talk about their experience with that particular chain.
Look at the trends in the company with which you may want to become a partner. A few years ago, the malt shop business changed due to people concerns about fat and calories. Several unprepared companies took a proverbial bath as a result and could not stay afloat until the controversy ended and ice cream shop businesses evolved to more low fat options for the consumer.
Consider you target audience and determine if the communities demographics will provide a large enough market for your business. If the company estimates your primary customers will be between 30 and 45 years of age and the community demographics show only about 10 percent of the population fit that demographic, a malt shop may not be in high demand in that area.
Also consider the employment rate in the area and if it is high it may be a sign that not many people can afford the luxury of buying malts and ice creams. There are numerous factors to consider when choosing a business and having all the facts and information available can help make an informed decision.
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To find the best home based business ideas and
opportunities so you can work at home visit:
http://www.GoldenInternetSuccess.com
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Sunday, August 31, 2008
Sunday, August 17, 2008
Home Business Success: Advertising Your Home Based Business
Copyright © ARW Ventures LLC
http://www.GoldenInternetSuccess.com
Having a home based business, or any business for that matter, has many ups and downs to it. The last thing you want to worry about while trying to figure everything else out is whether or not your home based business is getting enough advertising to make a profit. We all know that promotion or advertising is vital to any business.
When it comes to advertising there are several different ways you can do this and some may even work better than others but you want to be sure to reach as many audiences as you can in order to provide yourself the best outcome. In this article I will provide a few different ways you can advertise your business and hopefully one, if not more, will work for you.
Newspaper Advertisement
We all have seen how powerful the newspapers are. They cover all the news, good and bad, show job listings, and even advertise businesses. Though this can be quite costly, depending on how big you want the ad to be and how long you want it to run, it is still one of today’s best methods in getting the word out there about you, your business and what you can do for the public. Spend some time searching for newspapers that offer low cost options for your advertising or those that will do feature articles on your business.
Television Advertisement
This is yet another expensive, yet effective, way to get the word out. Most people in America own a television, or at the very least can find a way to view one. You know as well as I do that when you are right in the middle of the best part of your favorite show, there comes a commercial break. Commercials are where people who run businesses or offer some sort of service tell about their product(s) and try to get you to buy from them or use their services instead of someone else’s. Why not put your service out there for the public to see and decide if it is something they want or need. You might be surprised how many actually watch the commercials.
Internet Advertisement
This seems to be one of the best and most inexpensive way to get the word out about your business and the product or service you offer. You will find there is a wide variety of places to advertise on the internet. Some are free and others paid. Do some research and you will find options that fit into your budget and get the job done. The best part about it is that you can set up your company’s own website and put whatever it is that you think will help your company. Be sure when doing this though that you keep the information on your company’s website up to date with current information. Example: If you are having a sale but it ends in a week, put the information on there about the sale, but go back in a week and take the info off. You don’t want to advertise something that is not happening as you would have to honor that and may end up losing money in the end.
About the Author:
-----------------------------------------------------------------
To find the best home based business ideas and
opportunities so you can work at home visit:
http://www.GoldenInternetSuccess.com
-----------------------------------------------------------------
http://www.GoldenInternetSuccess.com
Having a home based business, or any business for that matter, has many ups and downs to it. The last thing you want to worry about while trying to figure everything else out is whether or not your home based business is getting enough advertising to make a profit. We all know that promotion or advertising is vital to any business.
When it comes to advertising there are several different ways you can do this and some may even work better than others but you want to be sure to reach as many audiences as you can in order to provide yourself the best outcome. In this article I will provide a few different ways you can advertise your business and hopefully one, if not more, will work for you.
Newspaper Advertisement
We all have seen how powerful the newspapers are. They cover all the news, good and bad, show job listings, and even advertise businesses. Though this can be quite costly, depending on how big you want the ad to be and how long you want it to run, it is still one of today’s best methods in getting the word out there about you, your business and what you can do for the public. Spend some time searching for newspapers that offer low cost options for your advertising or those that will do feature articles on your business.
Television Advertisement
This is yet another expensive, yet effective, way to get the word out. Most people in America own a television, or at the very least can find a way to view one. You know as well as I do that when you are right in the middle of the best part of your favorite show, there comes a commercial break. Commercials are where people who run businesses or offer some sort of service tell about their product(s) and try to get you to buy from them or use their services instead of someone else’s. Why not put your service out there for the public to see and decide if it is something they want or need. You might be surprised how many actually watch the commercials.
Internet Advertisement
This seems to be one of the best and most inexpensive way to get the word out about your business and the product or service you offer. You will find there is a wide variety of places to advertise on the internet. Some are free and others paid. Do some research and you will find options that fit into your budget and get the job done. The best part about it is that you can set up your company’s own website and put whatever it is that you think will help your company. Be sure when doing this though that you keep the information on your company’s website up to date with current information. Example: If you are having a sale but it ends in a week, put the information on there about the sale, but go back in a week and take the info off. You don’t want to advertise something that is not happening as you would have to honor that and may end up losing money in the end.
About the Author:
-----------------------------------------------------------------
To find the best home based business ideas and
opportunities so you can work at home visit:
http://www.GoldenInternetSuccess.com
-----------------------------------------------------------------
Sunday, August 10, 2008
Home Business Success - Understanding Business Profit And Loss
Copyright © ARW Ventures LLC
http://www.GoldenInternetSuccess.com
For most home business owners and many small business operators, their idea of a profit and loss statement, P&L in business parlance, may be oversimplified. If they had more income than expenses, they made a profit. If not, they had a loss and will usually try to find more business or increase prices to turn the trend around. By better understanding their own business’s profit and loss statement, they will be able to determine not only how much money is earned and spent, but also track their expenses to gain better control of the finances.
The first thing to remember is that there is a difference between a budget and a profit and loss statement. Income is projected and expenses are budgeted, based on the income projection. If the income does not meet the forecast, certain expenses will need to reigned in to make the profit and loss statement come in on the plus side at the end of the month.
The business’s P&L can be as simple or as complex as you choose to make it, but the more tracking of expenses that you do, the better handle you can have on what needs to be done to control your profit amount. For example, you can simple include a line in your expense column pertaining to utilities and lump them all together. However, to get a better picture of where your money is going, you will want to break them down into subcategories such as electric, gas, water and telephone.
By keeping them separate you may see a need to bring telephone costs under control by eliminating unnecessary lines that seldom ring or find ways to save on your electric costs. If you deduct for business use of your home, you will have a pretty good idea of what your costs for utilities, rent, insurance and other expenses will be based on the percentage of your home’s cost deducted for business use of the home.
One of the first things to budget, which has the greatest impact on your P&L will be income. Whether you sell a product or service, you will need to track all forms of income, as well as allow for deductions due to refunds and rebates and any discounts offered as customer incentives. Tracking this on the P&L is fairly easy, as if the money comes into the business it is considered income. The source can be itemized as well to help indicate how you may go about increasing income.
Expenses in the budget can be calculated as a fixed dollar amount or a percentage of income, which usually provides greater control over spending. Itemized expenses on the P&: can also make filing income taxes easier as you will have a monthly record of how much money came into the business as well as where every dollar went that left the building.
About the Author:
-----------------------------------------------------------------
To find the best home based business ideas and
opportunities so you can work at home visit:
http://www.GoldenInternetSuccess.com
-----------------------------------------------------------------
http://www.GoldenInternetSuccess.com
For most home business owners and many small business operators, their idea of a profit and loss statement, P&L in business parlance, may be oversimplified. If they had more income than expenses, they made a profit. If not, they had a loss and will usually try to find more business or increase prices to turn the trend around. By better understanding their own business’s profit and loss statement, they will be able to determine not only how much money is earned and spent, but also track their expenses to gain better control of the finances.
The first thing to remember is that there is a difference between a budget and a profit and loss statement. Income is projected and expenses are budgeted, based on the income projection. If the income does not meet the forecast, certain expenses will need to reigned in to make the profit and loss statement come in on the plus side at the end of the month.
The business’s P&L can be as simple or as complex as you choose to make it, but the more tracking of expenses that you do, the better handle you can have on what needs to be done to control your profit amount. For example, you can simple include a line in your expense column pertaining to utilities and lump them all together. However, to get a better picture of where your money is going, you will want to break them down into subcategories such as electric, gas, water and telephone.
By keeping them separate you may see a need to bring telephone costs under control by eliminating unnecessary lines that seldom ring or find ways to save on your electric costs. If you deduct for business use of your home, you will have a pretty good idea of what your costs for utilities, rent, insurance and other expenses will be based on the percentage of your home’s cost deducted for business use of the home.
One of the first things to budget, which has the greatest impact on your P&L will be income. Whether you sell a product or service, you will need to track all forms of income, as well as allow for deductions due to refunds and rebates and any discounts offered as customer incentives. Tracking this on the P&L is fairly easy, as if the money comes into the business it is considered income. The source can be itemized as well to help indicate how you may go about increasing income.
Expenses in the budget can be calculated as a fixed dollar amount or a percentage of income, which usually provides greater control over spending. Itemized expenses on the P&: can also make filing income taxes easier as you will have a monthly record of how much money came into the business as well as where every dollar went that left the building.
About the Author:
-----------------------------------------------------------------
To find the best home based business ideas and
opportunities so you can work at home visit:
http://www.GoldenInternetSuccess.com
-----------------------------------------------------------------
Sunday, August 3, 2008
Home Business Success: Tips For Internet Marketing
Copyright © ARW Ventures LLC
http://www.GoldenInternetSuccess.com
Internet marketing is a fairly new area in the marketing field. Marketing websites is close to marketing for other products and services. If you are new in the Internet marketing field there are some tips to assist you. We are going to use this article to examine those aids.
It is advisable not to use additional products and services to increase your sales. Instead of increasing the quantity of products or services, you would do better to increase the variety of different marketing methods. By doing this, only a small part of the total business is affected if one product declines or a marketing response drops.
Be sure to remember that customers are also prospects. You need to stay in contact with them. Try to find or develop other products or services that they can use. Return customers are easier to make a sale to than new customers.
Avoid making exaggerated claims, even if they are true. Bold claims create doubt in potential customer’s minds and jeopardize sales. It is better to bring those bold claims down to believable levels. Numerical claims should be expressed as odd numbers with decimals or factions.
You may need to change your market if you are attracting prospects that don’t have or can’t get the money to buy your product or service. You should target prospects that have an intense desire for the benefits of your products or services. You also need to target those that can afford your products or services.
When developing offers for your business, create them in sets of five to seven at a time. Purchases and offers are most successful after viewing 7 times. They should also have expiration dates. With expiration dates you can replace the expired one with a new offer and deadline. With a series of offers you can constantly recycle through them. It is also possible to create an irresistible offer by combining a discount price and a set of valuable bonuses in the same offer.
By offering an exclusive benefit to your customers, this benefit will help sales. The benefit should be something that your competitors can’t or won’t offer. A good example of this would be your personal cell phone or home phone numbers. A lot of business owner’s don’t want to be that accessible.
Advertising copy should be written like the message was written specifically for each reader. This type of copy seems to produce great responses. This can be accomplished by making the copy be written to just one person instead of a group of people. You also might want to write in a less formal, more personal style.
The majority of sales are not made on the first contact. You need to develop a method to capture and save names and contact information of prospects. By doing this you can follow up with them periodically. Sometimes a gentle coaching is all that is needed to make a sale.
About the Author:
-----------------------------------------------------------------
To find the best home based business ideas and
opportunities so you can work at home visit:
http://www.GoldenInternetSuccess.com
-----------------------------------------------------------------
http://www.GoldenInternetSuccess.com
Internet marketing is a fairly new area in the marketing field. Marketing websites is close to marketing for other products and services. If you are new in the Internet marketing field there are some tips to assist you. We are going to use this article to examine those aids.
It is advisable not to use additional products and services to increase your sales. Instead of increasing the quantity of products or services, you would do better to increase the variety of different marketing methods. By doing this, only a small part of the total business is affected if one product declines or a marketing response drops.
Be sure to remember that customers are also prospects. You need to stay in contact with them. Try to find or develop other products or services that they can use. Return customers are easier to make a sale to than new customers.
Avoid making exaggerated claims, even if they are true. Bold claims create doubt in potential customer’s minds and jeopardize sales. It is better to bring those bold claims down to believable levels. Numerical claims should be expressed as odd numbers with decimals or factions.
You may need to change your market if you are attracting prospects that don’t have or can’t get the money to buy your product or service. You should target prospects that have an intense desire for the benefits of your products or services. You also need to target those that can afford your products or services.
When developing offers for your business, create them in sets of five to seven at a time. Purchases and offers are most successful after viewing 7 times. They should also have expiration dates. With expiration dates you can replace the expired one with a new offer and deadline. With a series of offers you can constantly recycle through them. It is also possible to create an irresistible offer by combining a discount price and a set of valuable bonuses in the same offer.
By offering an exclusive benefit to your customers, this benefit will help sales. The benefit should be something that your competitors can’t or won’t offer. A good example of this would be your personal cell phone or home phone numbers. A lot of business owner’s don’t want to be that accessible.
Advertising copy should be written like the message was written specifically for each reader. This type of copy seems to produce great responses. This can be accomplished by making the copy be written to just one person instead of a group of people. You also might want to write in a less formal, more personal style.
The majority of sales are not made on the first contact. You need to develop a method to capture and save names and contact information of prospects. By doing this you can follow up with them periodically. Sometimes a gentle coaching is all that is needed to make a sale.
About the Author:
-----------------------------------------------------------------
To find the best home based business ideas and
opportunities so you can work at home visit:
http://www.GoldenInternetSuccess.com
-----------------------------------------------------------------
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