Answer Upon - Business

Business Partnerships: Negatives and Positives
An individual diving into business ownership is a risk. An individual has to deal with all of the decision making regarding hiring and finances. Furthermore, individual business owners also have to attempt to overcome their weaknesses and present them as strengths.Due to the difficult decision making needed and the incredible amount of skill involved in owning your own business a lot of people like to involve themselves in partnerships but just like any other relationship, business partnerships have negatives and positives.1. One positive of a partnership is an increased amount of contacts. 2. Another positive is that one persons strengths can make up for another ones weaknesses. 3. An additional positive is that having financing coming from multiple sources is a great asset to any business. 4. Partnerships also allows for more ideas to develop. Two heads are better than one when it comes to creating ideas and problem solving.Below are some negatives involved with business partnerships. 1. The profits have to be split. With a partner you are automatically giving up a percentage of income to someone else. 2. Another negative can be disagreements. Disagreements about different aspects of how a business should be run can lead to turmoil between partners.If you are considering starting a business with a partner, review this article to make sure it is the right thing to do.

6 Tips On Choosing A Subprime Lender
A subprime or hard money lender is an institution or person who lends money to people who normal lenders , banks , and financial institutions will refuse to lend. A subprime lender offers mortgage loans to people with a bad credit history, those who have no down payment, and those who cannot prove their incomes. The loans are high risk and so the lending or interest rates are usually much higher than traditional mortgage rates. In addition a subprime lender will charge higher fees on the loan.A subprime loan is generally the last option a person takes . However even in case of availing a subprime loan you must select the lender with due care and know how to make a bad credit mortgage work in your favor.1. Never chose a lender who behaves like he is doing you a favor. The lender must only want to know that you will make the payments on time and that the loan won’t sour.2. As with any other loan make the effort to compare terms as well as fees charged. Get at least three quotes.3. Before you decide on a lender check out the lender’s credentials. Try and do a background check.4. Study the terms carefully especially the pre-payment terms. You may choose to refinance your home with a regular mortgage as soon as your credit report is repaired. Ensure that you do not get locked to your subprime loan.5. Never pay any fees upfront. Most established lenders will only charge a nominal application fee. Do not fall into a trap just because you are in need of a loan.6. Beware of lenders who push you into borrowing larger sums than you need or sign documents that are not filled out. There are so many scams in the subprime lending market that a borrower needs to be wary and knowledgeable enough to protect himself.When availing a subprime loan you need to keep abreast of market trends. Interest rates on subprime loans can vary and can range from about 7% higher than usual to as much as 9-12 % higher. This means that as a borrower you may loose a lot of money over the years if you get a loan at higher rates that the current market average for subprime loans. So, educate yourself by reading tips, articles, and reviews written by financial experts o

I have heard franchise attorneys say that prospective franchisees need the disclosure documents early on so they can make a business plan to see if the franchised outlet is feasible and I debated with them over this point of contention. Potential franchise buyers have also told me they wanted to put together a business plan for their evaluation process and therefore they need all the disclosure documents. They ask for these documents before they fill out the confidential questionnaire. We of course do not send out a UFOC without a completed questionnaire, which has been verified and we know the applicant meets our general approval and then check credit sources to see if they can actually afford it.

We have had potential buyers fill out the questionnaire and leave information out, because they did not feel comfortable with problems associated with identity theft and still want the documents. So that consumer puts us at a standstill. They want to put a business plan together to estimate the worthiness of the business, but need to know all the costs associated with it before they give us their information. Yet that information is readily available on most franchising web sites already. Of course we need to determine if they can even afford it (if they cannot we cannot spend the time on the sales process) or determine if they are one of the huge percentage of all inquiries that are competitors before we give away information contained in the UFOC. To top it off, we cannot assist them with earnings because we do not give earnings claims because we do not collect the data. This is because under the current rules we cannot substantiate or choose not to go to the expense to audit that data even though we know the answers after being in the industry for 27 years. They can call franchisees once they get the documents if they wish. But we cannot give them the disclosure documents pre-maturely. Now the FTC wants us to offer a UFOC because a potential buyer wants it or has asked for it and we have discussed our opportunity with them. The potential franchise applicant wants to make a business plan of our business model, that we do not wish to offer to them or even sell them at such early stages in the sales process?

A potential buyer wants to put together a business plan to get funding to buy a business for which he/she does not have the cash to buy. In order to get a loan, they will need a business plan. But any business plan they put together will be in contradiction to the absolute franchise business model that the franchisor will reveal after the actual purchase, we cannot reveal it sooner otherwise it will be copied and used against our team. I have heard FTC people say that they believe the potential buyer has a right to the information necessary to put together some close representation of a business plan of the franchise they wish to buy to determine if they should buy the business. Whereas this seems like a good idea on the surface the FTC has put into place rules making it impossible. They believe that this type of added disclosure sooner in the buying process will help. Yes it could, but a franchisor cannot provide the information unless first he can substantiate it and second unless the potential franchise buyer can prove he is a real buyer and can afford the franchise. We believe the answer to this concern lies on the back of the potential buyer to fill out a questionnaire truthfully and correctly and for the franchisor to

Six Sigma MBB - The Master of the Game
The born leaders belonging to personality types INTJ and ENTJ are the most likely people to be selected to become Master Black Belts. This can be by design or can be pure coincidence. But what one can not disregard is the truth that they are in their positions because of their enviable character that separates them from the crowd. Characteristically, INTJs and ENTJs are strong in intuitive and judgmental abilities which make them stand up for all the right things and know when to act because of their impeccable sense of timing.Who Are Master Black Belts?Master Black Belts are experienced trained professionals bestowed with the responsibility of strategic implementation of projects. Their responsibilities encompass the whole gamut of Six Sigma implementation, which includes training the other belts and strategizing on projects within an organization. This unambiguously means that a Mater Black Belt also acts as a watchdog of deployment processes by keeping tabs on integrity issues such as measurements, tollgates etc. Revising and improving training methodology and tools fall under the purview of a Master Black Belt.A Master Black Belt qualifies for that position through virtues such as problem solving abilities at strategic levels. This calls for qualities such as being forward looking, leadership by self-indulgence and thorough expertise in the intricacies of business processes, Six Sigma implementation techniques and statistical tools. What assumes utmost importance is his or her brilliant analytical abilities to identify problem areas, tackle bottlenecks and other obstacles. Alertness to issues such as integrity misuse and misrepresentation of authority and facts by down line support and line employees is also emphasized.A Master Black Belt is disposed to train other facilitators of Six Sigma in aspects such as the tools, methodologies, and applications in all functions of the organization. (He/she is assumed to be a resource for employing statistical process controls but typically outside of Black Belt’s purview).MBB And Upstream ResponsibilitiesA Master Black Belt occupies an unenviable position within the organization. He or she is the key

ord it.

Quick Comparison Conventional Brick and Mortar VS an Online Business
You are undecided if you should start a conventional Brick and Mortar Business in a Heavily Trafficked Mall or a Online Home Based Business. This in depth Comparison should help you decide.Not too Long ago while on vacation in Palm Springs CA with my wife we decided to have some Ice Cream. We saw this ice cream store and the line was out the door and down the block. There was another Ice Cream store directly across the street with no line so we went there. The Ice Cream at this near empty Store was Really good. I said to my wife if the Ice Cream in this near empty store is this good and everyone else is on lined up across the street I have to know why?Over the course of the next few Months we were in various Cities in Southern California from San Diego to Santa Barbara and every time we saw that Ice Cream Store the Line was out the door and down the Block. Then one day while we were in Santa Barbara we finally saw that ice cream Store with no Line. We went in and ordered the best Ice Cream we ever ate. By the Time we finished our Ice Cream's the Line was out the Door and down the block.Thinking about starting a business I went on the Internet and found the Web Site for that Ice Cream Store. It Turned out to be a Franchise and the Start-Up Cost's were about $200,000. With a $50,000 Down Payment that means a Loan of about $150,000. Adding on the Other Cost's of running a Business like Store Leases, Labor, Franchise Fees, Inventory, Taxes, Utilities and Insurance the Monthly Expenses would be Somewhere between $4,000 - $6,000 Easy. At $3 an Ice Cream Cone you would need to sell 1,300 to 2,000 Cones Just to break even and an Additional 2,500 Ice Cream Cones to make a Yearly Profit of $60,000.You can Start an Online Internet Store that operates 24 hours a Day 7 days a week with no overhead and No Startup cost's for as little as $19.95 a Month. The only other Cost's you would have would be for Advertising. Let's say you spend $100 a Month on Advertising and Your Average Profit per Sale is $10. You would be in profit with just 13 Sales a Month.Which would you rather have Brick and Mortar Business with $200,00 in start up cost's and $4,000 to $6,

at are competitors before we give away information contained in the UFOC. To top it off, we cannot assist them with earnings because we do not give earnings claims because we do not collect the data. This is because under the current rules we cannot substantiate or choose not to go to the expense to audit that data even though we know the answers after being in the industry for 27 years. They can call franchisees once they get the documents if they wish. But we cannot give them the disclosure documents pre-maturely. Now the FTC wants us to offer a UFOC because a potential buyer wants it or has asked for it and we have discussed our opportunity with them. The potential franchise applicant wants to make a business plan of our business model, that we do not wish to offer to them or even sell them at such early stages in the sales process?

Credit Card Factoring
Credit policy refers to the combination of decisions pertaining to variables such as credit standards, credit terms and collection. Credit standards constitute the various criteria on the basis of which the customers, to whom credit is to be granted, are evaluated by the firm. Credit terms contain the terms and conditions of extending the credit facility. They include, duration of credit, terms of payment, delivery schedule, discounts etc. Collection efforts comprise the steps taken by the firm in order to collect the book debts from the customers.There are different types of credit policies being followed by factoring companies. A firm may either follow a tight credit policy or a liberal credit policy. A firm is said to be following a tight credit policy where it sells on credit on a highly selective basis only to those customers with proven credit-worthiness and are financially strong. A firm following a liberal credit policy sells on credit to customers on liberal terms and standards. Credit is granted even for longer periods to those customers whose credit-worthiness and financial soundness are well known.A tight credit policy means rejection or refusal of certain types of accounts whose credit-worthiness is doubtful. This results in loss of sales and consequently loss of revenues. When the firm loosens its credit policy, two types of administration costs are incurred viz., the cost of credit investigation and supervision and the collection costs. An immediate consequence of liberal credit policy is the accumulation of bad debts, where the firm is unable to collect the debts. This happens because the firm tends to sell even to such customers with relatively less credit standing. In modern days, the credit policy is used as an effective marketing tool capable of boosting the sales volume of the firm. This may be used to maintain the market share, especially in a declining market. Credit policy helps to retain old customers and create new customers by luring them away from competitors.

wants to make a business plan of our business model, that we do not wish to offer to them or even sell them at such early stages in the sales process?

Corporate Culture Shock in America
Expatriates and foreign nationals who relocate to the United States to live and work often have mixed perceptions about this young nation. Those feelings are probably best described by the late Irish poet and playwright, Oscar Wilde, who referred to America as “a land of unmatched vitality and vulgarity.”While most Americans rarely think of their country as “foreign,” the fact is that non-Americans who relocate to the United States to do business and “do lunch” are often surprised to find they experience a severe case of “corporate culture shock.”According to recently conducted research with dozens of foreign business professionals working in Atlanta and other southeastern U.S. cities, the human resource departments of multinational corporations are woefully inadequate in preparing foreigners for the American workplace. The purpose of the study was to learn about foreign managers’ experiences and attitudes regarding the American business culture. More than half of this diverse group of CEOs, CFOs, vice presidents, directors, managers, engineers, and analysts were European. In total, 26 different countries were represented.Equally disturbing is the finding that American employees lack cross-cultural awareness and skills that would enable them to draw on the diverse, global talents and business experiences of their non-American counterparts.Once the physical relocation to the United States is complete, most foreigners and their families say employers provide little, if any, assistance to help them integrate into the American community and business environment. They often struggle up to a year or longer to adapt.The financial cost of cross-border relocations is steep; often two to four times the transferee’s salary. But the cost of lost productivity because of months of isolation, confusion, and frustration is incalculable. The adaptation period could be reduced by 50 percent with adequate cultural orientation and training, professional coaching, and mentoring. If corporations would simply invest an additional 5 to 10 percent of their relocation cost into cross-cultural orientation, training, and coaching, they would be buying an insurance policy that prot

ry to put together some close representation of a business plan of the franchise they wish to buy to determine if they should buy the business. Whereas this seems like a good idea on the surface the FTC has put into place rules making it impossible. They believe that this type of added disclosure sooner in the buying process will help. Yes it could, but a franchisor cannot provide the information unless first he can substantiate it and second unless the potential franchise buyer can prove he is a real buyer and can afford the franchise. We believe the answer to this concern lies on the back of the potential buyer to fill out a questionnaire truthfully and correctly and for the franchisor to verify data on that application before disseminating any additional information. At that point our company provides for the potential franchisee to go work with an actual franchise for one day and bring a calculator. We can provide a blank spreadsheet with typical expense categories on it but no numbers. The potential buyer in our franchise can visit a current franchisee and bring his/her calculator. And of course the disclosure documents will be provided once the proof of financial capability has been satisfied somewhere in the application process time frame.

It also appears from observation that no one really seems to understand the franchising model outside the actual industry practioners, attorneys in franchising and those who own franchises. The FTC certainly does not see the whole picture. I would invite Steve Toporoff and/or the entire FTC Franchise Group to go on a paid sabbatical and work in a franchisor’s sales department sometime and listen to real franchise buyers ask questions, competitors trying to get information and the obnoxious looky lou’s. The FTC should also send four or five of its highest-ranking franchise sector employees to do the same. I think if that were done you would begin to understand the ridiculous nature of enacting such a revised disclosure rule and you might ask yourself why we have a franchise rule in the first place.

But the FTC is not the only organization that does not understand franchising. I spoke at the SBDC’s Annual Conference in San Diego, CA a few years back. In the workshop on franchising I had about 50 directors from around the country from the SBDC bombard me with questions after giving my talk. I was dumbfounded by the lack of understanding and knowledge on franchising. Almost to the point of frustration and wanting to walk out, I was shocked these were the directors of some of the largest SBDC offices in the country. I carefully worded my answers to make sure they had understood the issues presented to them. Finally we made some headway and many stayed afterwards to continue the conversation because they knew franchising was a major issue with their clients who come in for counseling usually prior to getting an SBA loan or putting together a business plan for a franchised business. I got to thinking about the 550 or so Directors and Executive Management of the SBDC Annual Conference that were in attendance and wondered why weren’t all the participants in our workshop? Instead many had gone to time slot competing workshops as that is generally how such conferences are set up. But what could be more important than franchising which accounts for 1/3 of every consumer dollar in the country and a huge chuck of the small businesses in the US. What other business model can claim 350,000 outl

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Many of us wish we didn’t have to be at someone’s beck and call from 9 till 5 and more often longer than that! There are many successful home business ideas out there in today’s modern world but could we ever be sure we could earn enough money to cover the rent or mortgage if we jacked in our regular jobs?

Many companies have the goal of sustaining existence by selling what they make. Great companies focus on delivering unique value -- even before a single product or service is purchased.

Franchisee associations are unions. In the modern business world if a group of employees want to form a union and the employer doesn’t want it then the employer has a right to close the company.

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Answer Upon - Debate for Business Plan Data and Early Franchise Disclosure

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