Jul
31
Jim Mcdonald asked:
Are you looking to buy a business? Or maybe sell one? Before you go very far in the sales or purchase process, you’ll need to decide whether you’re going to handle everything yourself or use the services of business brokers. How can you best make that decision and what factors should you consider? Lets look at some of the pros and cons of business brokers.
Business brokers are third parties that handle the details when you buy or sell a business. They aren’t the business owner who is selling, nor are they the buyer who will soon own a new business. They are essentially like real estate agents, professionals who bring buyers and sellers together, facilitate the negotiation, and handle the transaction once the deal is made.
The Pros of Business Brokers
There are several good reasons to use business brokers instead of handling the business sale yourself. One of the best reasons is time savings. Selling a business can take a particularly large amount of time. There are many documents that are required before the sale can take place. You can either take the time to put this documentation together on your own, or you can let a business broker assemble these documents for you. If anything, documentation requirements increase during the sale process.
Business brokers can also save time by qualifying prospects. Advertisements that let everyone know your business is for sale may attract potential buyers who actually don’t have the potential to buy at all. Business brokers are experienced at weeding out the “tire kickers” and bringing only the serious buyers to the negotiating table.
In fact, if business brokers are doing their jobs well, they should be maintaining lists of prospects who are ready to buy. If you choose to sell your business through a broker, advertising the sale might not even be necessary. If you’re interested in buying a business, you may be able to find the sort of business you’re looking for more quickly by working with business brokers.
Another good reason to use business brokers is being able to profit from their experience. If you’re buying a business, you may have already bought several and have all the experience you need. However, selling your business typically occurs less often, so you don’t have as many chances to learn how. Because brokers buy and sell businesses all the time, they have accumulated quite a bit of experience.
Business brokers are often used when buyers or sellers want to maintain confidentiality. In some arenas, all the players are so well known that the market itself could be changed by knowledge of a pending sale or purchase.
The Cons of Business Brokers
Maybe a better way to word that would have been the “downsides” of using business brokers. There’s really no reason to expect that business brokers are likely to con you, but there are a couple of reasons why you might want to consider selling or buying a business on your own.
First of all, remember that business brokers charge commissions. There is a lot of work involved in these types of transactions, and if a broker is going to handle everything, he’s going to want some compensation out of the deal. Someone, either the business seller or buyer, will be charged by the business broker.
There’s no guarantee that business brokers will have your best interests in mind. Again, like a real estate agent, the broker will either be working on behalf of the buyer or the seller. The information that he provides about the business will probably be truthful, but might be “spun” to make a business more attractive to increase the chances of a successful deal.
If you’re buying or selling in a specialized industry, business brokers might not have the specific industry knowledge that’s required. In these cases, you’re probably better off working on your own if you have insider information that’s difficult for those outside the business to comprehend.
Finally, a broker might not have your passion for the business or the strong desire to see the deal completed. You should keep in mind, though, that passion and emotion generally don’t belong in the sale or purchase of a business. The emotional detachment of a business broker might be exactly what you need.
Caffeinated Content – Members-Only Content for WordPress
Are you looking to buy a business? Or maybe sell one? Before you go very far in the sales or purchase process, you’ll need to decide whether you’re going to handle everything yourself or use the services of business brokers. How can you best make that decision and what factors should you consider? Lets look at some of the pros and cons of business brokers.
Business brokers are third parties that handle the details when you buy or sell a business. They aren’t the business owner who is selling, nor are they the buyer who will soon own a new business. They are essentially like real estate agents, professionals who bring buyers and sellers together, facilitate the negotiation, and handle the transaction once the deal is made.
The Pros of Business Brokers
There are several good reasons to use business brokers instead of handling the business sale yourself. One of the best reasons is time savings. Selling a business can take a particularly large amount of time. There are many documents that are required before the sale can take place. You can either take the time to put this documentation together on your own, or you can let a business broker assemble these documents for you. If anything, documentation requirements increase during the sale process.
Business brokers can also save time by qualifying prospects. Advertisements that let everyone know your business is for sale may attract potential buyers who actually don’t have the potential to buy at all. Business brokers are experienced at weeding out the “tire kickers” and bringing only the serious buyers to the negotiating table.
In fact, if business brokers are doing their jobs well, they should be maintaining lists of prospects who are ready to buy. If you choose to sell your business through a broker, advertising the sale might not even be necessary. If you’re interested in buying a business, you may be able to find the sort of business you’re looking for more quickly by working with business brokers.
Another good reason to use business brokers is being able to profit from their experience. If you’re buying a business, you may have already bought several and have all the experience you need. However, selling your business typically occurs less often, so you don’t have as many chances to learn how. Because brokers buy and sell businesses all the time, they have accumulated quite a bit of experience.
Business brokers are often used when buyers or sellers want to maintain confidentiality. In some arenas, all the players are so well known that the market itself could be changed by knowledge of a pending sale or purchase.
The Cons of Business Brokers
Maybe a better way to word that would have been the “downsides” of using business brokers. There’s really no reason to expect that business brokers are likely to con you, but there are a couple of reasons why you might want to consider selling or buying a business on your own.
First of all, remember that business brokers charge commissions. There is a lot of work involved in these types of transactions, and if a broker is going to handle everything, he’s going to want some compensation out of the deal. Someone, either the business seller or buyer, will be charged by the business broker.
There’s no guarantee that business brokers will have your best interests in mind. Again, like a real estate agent, the broker will either be working on behalf of the buyer or the seller. The information that he provides about the business will probably be truthful, but might be “spun” to make a business more attractive to increase the chances of a successful deal.
If you’re buying or selling in a specialized industry, business brokers might not have the specific industry knowledge that’s required. In these cases, you’re probably better off working on your own if you have insider information that’s difficult for those outside the business to comprehend.
Finally, a broker might not have your passion for the business or the strong desire to see the deal completed. You should keep in mind, though, that passion and emotion generally don’t belong in the sale or purchase of a business. The emotional detachment of a business broker might be exactly what you need.
Caffeinated Content – Members-Only Content for WordPress
Jul
27
What business class is good for wanting to own a salon?
Filed Under Small Business | Leave a Comment
J SEXXY asked:
I want to do a business class so I can own a salon. So what type of business class should I take? I was thinking business administration.
Kansieo.com
I want to do a business class so I can own a salon. So what type of business class should I take? I was thinking business administration.
Kansieo.com
Jul
20
How to Promote an Office Cleaning Business
Filed Under U.S. Bank Failures Zoom To 90 | Leave a Comment
Brent Wale asked:
Copyright (c) 2008 Brent Wale
If you are thinking about starting up your own janitorial/ cleaning business, here are some low-cost promotional strategies & techniques you can use to get accounts for your office cleaning business.
Starting an office cleaning business is simple, and requires little start-up capital. For the most part, the only expense involves buying supplies and advertising.
Fortunately, cleaning supplies are cheap, and it costs even less to advertise in local newspapers, or online. Because most business professionals are busy, they are willing to pay a company or individual to clean their offices. You just need to learn how to brand your Office cleaning company in order to grow your business.
Remember, Almost anyone can clean. The trick is to hire others to do all the cleaning once you get things up and running. This leaves you free to generate new business. There are very simple and inexpensive ways to market your office cleaning accounts.
Here are just a few simple ways:
* Specialized Service:
If you offer your cleaning service for just one type of business.. let’s say , lawyer’s offices, by concentrating all your efforts in one type of clients, it will make your life easier, and your efforts far more better than being everything for everyone. Think about this, if a lawyer compares between 2 companies, company A is a general commercial cleaning company that offers service for all type of businesses, and company B specializes in just lawyer offices. Who would he choose?
By specializing in one or few types of service you give a message that you offer a service tailored for their needs,and that’s exactly what loyal clients want. Try to copy this idea by finding a small niche, like Doctor’s offices, dental offices, pharmacies, Real Estate, High Tech offices, etc..
Don’t misunderstand me here. You can still go after any type of offices to clean. But you can tailor your marketing towards each individual type of industy. In other words..You can have specialized services in many different industries.
* GIVE-A-WAYS:
One marketing strategy used by office cleaning business owners are giveaways”. Businesses love to try services for free. Once they see what a good job you do, and once you earn their trust, there’s a good chance you have just earned a client. If you’re running a cleaning business, you could give away a cleaning tips brochure, free cleaning guides, or color swatches. Once you begin giving away authoritative information customers will begin to perceive you as an expert in your field. (This may seem somewhat difficult and time consuming but I promise you it’s not).
* Business Cards:
This is one of the greatest marketing tool for any Janitorial/office cleaning business. The problem is most folks that are new to the office cleaning business don’t know how to do this correctly. If you know how to get your business card into the hands of the right people, at the right time you will generate a ton of business just from this one little strategy alone.
Simply learn how to Provide an irresistible offer on the back of the card for new clients. This has worked for office cleaning business owners many times over!
You don’t have to hand out 200 business cards and hope for the best. There are methods of getting leads that can actually help you obtain more business than if you were running an expensive full-page advertisement in the phone book!
* Print Advertising:
Start by setting an advertising budget. Once you set your budget, decide where to advertise. For a cleaning business it makes no sense and would be a waste of your money to advertise in a large magazine or buy a TV commercial that airs on a Saturday night. Besides being expensive, these ads will most likely not reach your target audience. The common print ad, run in your local newspaper or shopper, is the most basic unit of advertising.
Print ads have launched major office cleaning companies and created many success stories. Running ads in a local paper can be a great way to promote your cleaning business…but you must follow a few basic rules.
Your ad should attract attention! Although this sounds obvious, unless your ad attracts attention you are throwing your money down the drain. The most compelling way to have a “noticeable” ad is to have an interesting and visually appealing headline. If you are designing a large ad, think of using a subhead. This will provide added information and can be longer than the headline.
* Greeting Cards:
Greeting cards can be used as a great Marketing Tool when it comes to repeat business and referrals. Use them to thank clients for their business. Send them as greeting for most of the holiday occasions. Try to send cards as early as possible so they can be the first in your clients mailbox. Surprise them first so they can always remember you. Use handwritten messages to show more appreciation to your customers. If you use this marketing tool,you can always save money by buying cards after occasions, in quantity and keep them for next year.
* Electronic Media:
Buy banner ads in electronic media. Look for websites that target your potential customers, such as your local chamber. This can deliver your information right to the business that needs your service.
Create a video blog
Copyright (c) 2008 Brent Wale
If you are thinking about starting up your own janitorial/ cleaning business, here are some low-cost promotional strategies & techniques you can use to get accounts for your office cleaning business.
Starting an office cleaning business is simple, and requires little start-up capital. For the most part, the only expense involves buying supplies and advertising.
Fortunately, cleaning supplies are cheap, and it costs even less to advertise in local newspapers, or online. Because most business professionals are busy, they are willing to pay a company or individual to clean their offices. You just need to learn how to brand your Office cleaning company in order to grow your business.
Remember, Almost anyone can clean. The trick is to hire others to do all the cleaning once you get things up and running. This leaves you free to generate new business. There are very simple and inexpensive ways to market your office cleaning accounts.
Here are just a few simple ways:
* Specialized Service:
If you offer your cleaning service for just one type of business.. let’s say , lawyer’s offices, by concentrating all your efforts in one type of clients, it will make your life easier, and your efforts far more better than being everything for everyone. Think about this, if a lawyer compares between 2 companies, company A is a general commercial cleaning company that offers service for all type of businesses, and company B specializes in just lawyer offices. Who would he choose?
By specializing in one or few types of service you give a message that you offer a service tailored for their needs,and that’s exactly what loyal clients want. Try to copy this idea by finding a small niche, like Doctor’s offices, dental offices, pharmacies, Real Estate, High Tech offices, etc..
Don’t misunderstand me here. You can still go after any type of offices to clean. But you can tailor your marketing towards each individual type of industy. In other words..You can have specialized services in many different industries.
* GIVE-A-WAYS:
One marketing strategy used by office cleaning business owners are giveaways”. Businesses love to try services for free. Once they see what a good job you do, and once you earn their trust, there’s a good chance you have just earned a client. If you’re running a cleaning business, you could give away a cleaning tips brochure, free cleaning guides, or color swatches. Once you begin giving away authoritative information customers will begin to perceive you as an expert in your field. (This may seem somewhat difficult and time consuming but I promise you it’s not).
* Business Cards:
This is one of the greatest marketing tool for any Janitorial/office cleaning business. The problem is most folks that are new to the office cleaning business don’t know how to do this correctly. If you know how to get your business card into the hands of the right people, at the right time you will generate a ton of business just from this one little strategy alone.
Simply learn how to Provide an irresistible offer on the back of the card for new clients. This has worked for office cleaning business owners many times over!
You don’t have to hand out 200 business cards and hope for the best. There are methods of getting leads that can actually help you obtain more business than if you were running an expensive full-page advertisement in the phone book!
* Print Advertising:
Start by setting an advertising budget. Once you set your budget, decide where to advertise. For a cleaning business it makes no sense and would be a waste of your money to advertise in a large magazine or buy a TV commercial that airs on a Saturday night. Besides being expensive, these ads will most likely not reach your target audience. The common print ad, run in your local newspaper or shopper, is the most basic unit of advertising.
Print ads have launched major office cleaning companies and created many success stories. Running ads in a local paper can be a great way to promote your cleaning business…but you must follow a few basic rules.
Your ad should attract attention! Although this sounds obvious, unless your ad attracts attention you are throwing your money down the drain. The most compelling way to have a “noticeable” ad is to have an interesting and visually appealing headline. If you are designing a large ad, think of using a subhead. This will provide added information and can be longer than the headline.
* Greeting Cards:
Greeting cards can be used as a great Marketing Tool when it comes to repeat business and referrals. Use them to thank clients for their business. Send them as greeting for most of the holiday occasions. Try to send cards as early as possible so they can be the first in your clients mailbox. Surprise them first so they can always remember you. Use handwritten messages to show more appreciation to your customers. If you use this marketing tool,you can always save money by buying cards after occasions, in quantity and keep them for next year.
* Electronic Media:
Buy banner ads in electronic media. Look for websites that target your potential customers, such as your local chamber. This can deliver your information right to the business that needs your service.
Create a video blog
Jul
19
Ending a home based business – what are the tax implications?
Filed Under United States | Leave a Comment
Eric M asked:
I’ve been writing off my home based business for the last few years. If I stop using that portion of my home solely for my business, how do I indicate that on my taxes?
I’ve been writing off my home based business for the last few years. If I stop using that portion of my home solely for my business, how do I indicate that on my taxes?
Additionally, does anyone know of any resources that indicate what the implications are of stopping a home based business write-off?
I see lots of information on how/what to write-off for a home based business, but can’t seem to find anything on what to do when that ends.
Caffeinated Content – Members-Only Content for WordPress
Jul
17
What is a good business to purchase for a first time business owner?
Filed Under Small Business | Leave a Comment
Danka asked:
I have my business degree, and money for investing. I am interested in buying a business that doesn’t require my presence and that is profitable. What is a good type of business to purchase in the next year in South Florida?
Create a video blog…instantly.
I have my business degree, and money for investing. I am interested in buying a business that doesn’t require my presence and that is profitable. What is a good type of business to purchase in the next year in South Florida?
Create a video blog…instantly.
Jul
16
business?
Filed Under Small Business | Leave a Comment
JJ asked:
well am thinking about starting my on business any ideas on how i can get started and wat should my business be
Create a video blog…instantly.
well am thinking about starting my on business any ideas on how i can get started and wat should my business be
Create a video blog…instantly.
Jul
14
Hello world!
Filed Under Uncategorized | Leave a Comment
Welcome to WordPress. This is your first post. Edit or delete it, then start blogging!
Jul
13
Joseph Brochin asked:
The primary objective of a business is to make money. Why would an individual or group of people start a business if he did not want to make money? An argument that is generated by some is: “Should profits be the only function of a business?”
The desire for businesses to make money can sometimes lead to what is considered unethical business practices. Keep in mind the words unethical and unlawful are two separate terms with two separate meanings. One side of the argument states that ethics should not play a part in business as long as the business abides by the law of the land then they should not concern themselves with ethical behavior, but they should act in the best interest of the organization. The other side of the argument states that for an economy to function in a capitalist fashion that businesses must act in an ethical fashion regardless if their actions are legal under law.
Milton Friedman contends that the sole responsibility of business is to increase its profits. Robert Almeder maintains that if capitalism is to survive, it must act in a socially responsible ways that go beyond profit making. The views of these two individuals go to the heart of the argument. This author believes that after reading their material that the views of both are exaggerated. I do believe that a business’s responsibilities do go beyond what is legal. A business has a responsibility not only to the owners or stockholders, but also to the consumer who trust the business is acting not only in a legal manner but a safe and ethical manner as well. If a business goes out of its way to act in an unethical fashion then the business has broken their trust with the consumer. Once a business loses the trust of their consumers then profits will plummet. Seeing that profits are the primary function of a business then it is in the businesses best interest to maintain a trusting relationship with the consumers and continue to act in safe and ethical manner.
Keeping in mind that it is not the purpose of a business to propose or to dictate legislature nor ethical behavior to the individual, a business should not be held accountable for what a small population of consumers consider unethical. If the practice of the business is out in the open and hazards of their products are readily published and do not present the possibility of death involuntarily to the consumer then legislature should not dictate ethical behavior to business nor individuals for that matter.
Website content
The primary objective of a business is to make money. Why would an individual or group of people start a business if he did not want to make money? An argument that is generated by some is: “Should profits be the only function of a business?”
The desire for businesses to make money can sometimes lead to what is considered unethical business practices. Keep in mind the words unethical and unlawful are two separate terms with two separate meanings. One side of the argument states that ethics should not play a part in business as long as the business abides by the law of the land then they should not concern themselves with ethical behavior, but they should act in the best interest of the organization. The other side of the argument states that for an economy to function in a capitalist fashion that businesses must act in an ethical fashion regardless if their actions are legal under law.
Milton Friedman contends that the sole responsibility of business is to increase its profits. Robert Almeder maintains that if capitalism is to survive, it must act in a socially responsible ways that go beyond profit making. The views of these two individuals go to the heart of the argument. This author believes that after reading their material that the views of both are exaggerated. I do believe that a business’s responsibilities do go beyond what is legal. A business has a responsibility not only to the owners or stockholders, but also to the consumer who trust the business is acting not only in a legal manner but a safe and ethical manner as well. If a business goes out of its way to act in an unethical fashion then the business has broken their trust with the consumer. Once a business loses the trust of their consumers then profits will plummet. Seeing that profits are the primary function of a business then it is in the businesses best interest to maintain a trusting relationship with the consumers and continue to act in safe and ethical manner.
Keeping in mind that it is not the purpose of a business to propose or to dictate legislature nor ethical behavior to the individual, a business should not be held accountable for what a small population of consumers consider unethical. If the practice of the business is out in the open and hazards of their products are readily published and do not present the possibility of death involuntarily to the consumer then legislature should not dictate ethical behavior to business nor individuals for that matter.
Website content
Jul
8
Michael Gregory asked:
In this sue-happy, competitive world, businesses have to learn to manage risk in order to survive and thrive. Making sure you have adequate protection for your lawn care business is a must to protect your personal and business assets. While it is often a time-consuming and frustrating experience every successful business owner will go through it.
Lawn Care Business Insurance
Like any other business entity, lawn care businesses do need adequate insurance cover to protect their assets. In order to provide the specific needs, many insurance companies have created specialty insurance for the lawn care industry. While you can often get commercial insurance through your home and auto agent, it often pays to shop the specialty insurers as they are better able to understand the risks present to your industry and can price the policy accordingly. When obtaining business insurance and the agent/company do not understand your business or industry then you will get a higher rate so they are protected from the unknown.
Types of Coverage for the Lawn Care Business
Lawn care businesses have different kinds of insurance protection that may suit their different needs. Choose the one or go for all of them to prolong the life of your lawn care business insurance business.
A few different types of insurance you may want to consider for your lawn care business.
Business liability
Property damage (vandalism, water backup, etc)
Business interruption (Protects you from adverse day to day occurrences)
Inventory loss
Theft
Forgery through credit card transactions
Mechanical breakdown
Coverage for computer equipment media, data programs and communications equipment
Key employee
Vehicle
Professional liability
While it is a time-consuming process, researching the different types of lawn care business insurance and what is included/excluded in your policy is critical to the operation of your business should something bad happen. Talk with your agent, attorney and other business owners to make sure you are getting the proper insurance for your business.
For more information about starting a lawn care business visit www.StartingLawnCareBusiness.com
business
In this sue-happy, competitive world, businesses have to learn to manage risk in order to survive and thrive. Making sure you have adequate protection for your lawn care business is a must to protect your personal and business assets. While it is often a time-consuming and frustrating experience every successful business owner will go through it.
Lawn Care Business Insurance
Like any other business entity, lawn care businesses do need adequate insurance cover to protect their assets. In order to provide the specific needs, many insurance companies have created specialty insurance for the lawn care industry. While you can often get commercial insurance through your home and auto agent, it often pays to shop the specialty insurers as they are better able to understand the risks present to your industry and can price the policy accordingly. When obtaining business insurance and the agent/company do not understand your business or industry then you will get a higher rate so they are protected from the unknown.
Types of Coverage for the Lawn Care Business
Lawn care businesses have different kinds of insurance protection that may suit their different needs. Choose the one or go for all of them to prolong the life of your lawn care business insurance business.
A few different types of insurance you may want to consider for your lawn care business.
Business liability
Property damage (vandalism, water backup, etc)
Business interruption (Protects you from adverse day to day occurrences)
Inventory loss
Theft
Forgery through credit card transactions
Mechanical breakdown
Coverage for computer equipment media, data programs and communications equipment
Key employee
Vehicle
Professional liability
While it is a time-consuming process, researching the different types of lawn care business insurance and what is included/excluded in your policy is critical to the operation of your business should something bad happen. Talk with your agent, attorney and other business owners to make sure you are getting the proper insurance for your business.
For more information about starting a lawn care business visit www.StartingLawnCareBusiness.com
business
Jul
3
Can I start a home based business, not get a business license and not pay taxes?
Filed Under Other - Taxes | Leave a Comment
shimshim asked:
I read that if you dont get a business license and you run an at home based business and your neighbors dont complain about your work, its unlikey the IRS will find out and make you pay a fee as well as put your business on hold until its done. Now, in the state of FL, if I chose to not get a license because the type of business (event planning) did not require one, would I still have to pay taxes?
Caffeinated Content – Members-Only Content for WordPress
I read that if you dont get a business license and you run an at home based business and your neighbors dont complain about your work, its unlikey the IRS will find out and make you pay a fee as well as put your business on hold until its done. Now, in the state of FL, if I chose to not get a license because the type of business (event planning) did not require one, would I still have to pay taxes?
Caffeinated Content – Members-Only Content for WordPress