Starting a small business is often one of the hardest things a person can do. Some people start a business out of pure fascination, or even as a hobby. Whether starting a business for personal reasons or simply the grandeur to make loads of money, everybody needs to have a plan. Starting a small business is no easy task and can take days if not months to prepare. The most important aspect to have is the tempura and heart to start a small business, as without passion, no business can succeed. One has to be his or her own boss, make dream, reality and be willing to market and sell a product. It takes a lot of discipline, long hours and hard work, something many do not have. However with the right willingness, passion and dedication a business can be the start of something big.
The first step in any business is to think of or create a business idea. Without an idea, one cannot launch their business off the ground. A right direction is needed to create a business with a unique idea. However, other options include franchising or buying an existing business (1). Franchising allows an individual to run stores such as Burger King or McDonalds under the corporate name. It involves taking training classes and a heap of money in order to start a franchise. A Franchisee will have to buy products and services from the corporate entity they are franchising from, which is often required. Buying a franchise is like taking a piece of the pie from the company that is franchising and sharing that pie with everybody else. In addition having a franchise allows one to communicate and in essence become a big part of an added business opportunity (4). Franchising is far from easy to start and maintain for that matter. Starting a franchise involves a l...
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...onclusion, registering a business is no easy task. To create a business involves a lot of time, effort and devotion towards building a company that might even take years to become profitable. With the right business idea, plan and financing one can lay the groundwork for a successful business.
Works Cited
(1) http://www.businesstown.com/gettingstarted/index.asp
(2) http://sbinformation.about.com/od/bizopportunities/a/startup101.htm
(3) http://sbinfocanada.about.com/cs/startup/a/startownbiz.htm
(4) http://www.businesstown.com/businessopps/franchises-procon.asp
(5) http://tinyurl.com/6x77sd
(6) http://ezinearticles.com/?5-Remarkable-Benefits-to-Having-a-Business-Plan&id=1088224
(7) http://www.businesstown.com/planning/creating-plan.asp
(8) http://businesstown.com/finance/money-friends.asp
(9) http://www.go4funding.com/Articles/How-Startup-Capital-Works.aspx
Starting a business can be easy or difficult, depending on how one will execute. The only key to make this endeavor to start a business work is to have a business plan.
...ety of food to the customers. We have almost every type of food for every citizens.i also have the facility of online takeaways as well. Advertising of the restaurant is very important too. We can place couple of banners around the places where there is a lot of population and we can also make couple of blogs and pages on social networking sites as well. This method would be very effective and efficient and in this way ,the name would spread and reach out to many people. The ambience of restaurant plays an important role in marketing of the restaurant too.if the ambience is good,people will surely get attracted to the restaurant and people will come in good numbers.the location of the restaurant plays an effective role too .if the restauranr is placed on the area where the population is good,people will automatically prefer to go to the place which is the nearest.
For many years, economist viewed entrepreneurship as a small part of our economy. Whether they are students (typically college or high school) recent college graduates, unemployed, or newly retired from one career, today entrepreneurs have a central role in the economy. According to the research I have conducted throughout the semester, an entrepreneur is defined as someone who identifies a business opportunity and assumes the risk of creating and running a business to take advantage of it. Two important characteristics of a businessperson are risk-taking and innovation. The most common reasons for starting a business according to the Small Business Administration are: to be your own boss, to accommodate a desired lifestyle, to achieve financial independence, to enjoy creative freedom, and finally to use knowledge or skills. Starting a business can be exhilarating and wildly fulfilling. However, it can be quite complicated, and may challenge you in ways you had not imagined. Knowing the challenges and problems you may encounter in your start-up can help you to prepare for the unexpected, and possibly help avoid common drawbacks. The SBA points out that many new entrepreneurs will have questions about where and how to begin because business owners trigger the production and sale of a new product or service. New entrepreneurs will need professional, expert help to start and run a small business effectively and successfully. The financial resources needed to start or grow a business can be extensive and an entrepreneur must identify when and how to ask and receive financial assistance.
Running a business is a lot harder then it seems. There are many different factors that go into it and many different turns you cant take on the road to success or failure. All you can do is open a business and know what your working with. If you do that your business will be helped greatly. Knowledge is key in managing your own business. The more you know, the more you can get done in a shorter time. Owning your own business isn’t all its cracked up to be, it is hard, and a lot of time and effort go into it.
Not having to answer to a corporate boss is the dream of many and the flexibility that owning a business franchise creates provides this option. Success is not reached by simply creating a business, however. The level of success is measured by the size and efficiency of the business. Business growth is the driving force of the economy. The additional jobs and revenues created when a business expands allow the economy to grow at exponential rates. One of the fastest and most popular ways to increase the size of a business is to turn it into a franchise, which can then be purchased by individuals. Franchising provides opportunities that are beneficial to both the parent company and the purchaser. The company that owns the business can expand without having to pay such a large initial cost to open a new store since the franchise purchaser pays a cost to open the business. As well, the company can regulate many of the business activities so that there is a sense of consistency throughout all of the locations. The purchaser is allowed to use the trademarks and goods of the franchise which already have a large market presence. As well, they are provided with training and work standards by the company to help their business run smoothly (Kalnins & Lafontaine, 2004, p.761). Looking at the business model of the world’s largest food retailer, McDonald’s, provides great insight into franchising and business growth in general as well a better understanding of a global business that utilizes the franchising technique.
In order to familiarize franchising, its history must be known. (The History of Franchising, 2007) the word franchise came from the old French meaning privilege. In the middle ages, franchise is a privilege wherein the local sovereign words will grant to hold markets to hunt on hid land. It is shown in the phrase that franchise started as early as the middle ages. The king was like the franchisor which allows his business commercial activities to be used by the other businessmen or franchisees. It is also included that franchising changes over time.
Despite being an intimidating prospect for most people, there are millions of entrepreneurs in the US. Some of them turn out to be very successful, others, not so much. There are many steps to starting and running a business, but many of them can be easily accomplished simply by filling out some forms, and several small fees.
Our research topic is – “The process and advantages of purchasing a franchise business rather than starting your own business.” It is quite evident that business owners, that are not very well known of the competitive industry in the market, choose to side with buying a franchise to understand how a certain business runs. They use this experience and grow there on otherwise business owners use their gained expertise from franchise experience and implement them in the new business.
"If you can run one business well, you can run any business well.” Business is an organization and an economic system where goods and services are exchanged. Companies perform business activities through offering a service or retailing of manufactured products. Additionally, business has different types of entities which are sole proprietorship, general partnerships and Limited Liability Company. However, starting and managing a business might need a lot of time and effort from the investors .Writing business plan, getting business assistance, and choosing a good location are some series steps to run a successful business.
More small businesses succeed in the United States rather than fail because a majority of the United States jobs and products come from small businesses. Small businesses not only provide many jobs for America but small businesses also help hold small communities together. Here are nine tips that are greatly helpful for small business success and why. 1. Stay current. You should constantly be doing research in your field and making relations with associations connected to the products you are selling. 2. Put together a solid financial plan. You need to know at all times where you are financially with your business short term and long term. Create a budget to stay on top of your monthly progress. 3. Perform cash forecasts. Creating a budget
find it difficult to set up a business and make it a success. This is
I am interested in knowing more about starting and operating my own business. With what I have seen in the developing world around me, business has become more and more popular, I realized it is a great potential career path for me. So I would like to know, where to start, what schooling is needed, where do I make my business legal, how important is the work environment and gathering employees. Or is some of that afterthought stuff, that only matters if i...
Starting your own business can be exciting and it can become a well- rewarded experience. Being your own business includes great benefits, create your
A small business can be defined as a legal entity consisting of very few employees. Establishing a business such as a proprietorship is the least complicated among business structures. Proprietorships also have a major advantage over other business structures with regards to filing taxes. Profits generated by the business are taxed at individual tax rates thus avoiding the double taxation incurred by corporations. Local economies, government offices, schools and the unemployed benefit greatly from the growth stimulated by these companies. The taxes collected from small businesses and job creation makes small business a vital part of the community.
the only legal hurdle to starting a sole proprietorship is applying for the local permits and licenses that apply to the area of business.