Tag Archives: business

3 Pitfalls You Should Avoid When Buying a Franchise

Team discussing business plan

Team discussing business planMuch like any other business, starting a franchise involves a lot of things–from carrying out market research to arranging finances, etc. A little mistake on your part spells doom for your new business. Here are common mistakes franchise buyers make and how to avoid them.

1. Lack of a business plan

Just because you’re putting your money in a tested and proven embroidery franchise or any other model doesn’t mean a business plan becomes useless. A plan ensures you develop new strategies, set goals, and arrange for financing when the need arises. Aspects that you need to make strides and remarkable milestones in your new venture.

2. Failure to do market research

Some franchisors are so much established in the market, and everyone will say everything good about them. Wait until you put your money there, the frustration, let alone the losses, can be overwhelming. Therefore, in as much as the whole idea of buying a franchise may raise anxiety and excitement, it’s important to take time and shop adequately. Consider other options so that you pick the best alternative possible.

3. Underestimating costs

The time within which one franchise breaks even is often different from the other. Remember, there are still expenses that you must cover even when you’re not making profits. When you underestimate your budget and get stranded midway, you may have to close your business due to lack of adequate financial capacity. Therefore, to stay on the safer side, you’ll require sufficient working capital. This should cover not just operating costs but also your personal needs.

Every franchise business model is a great opportunity that can turn you into the next big thing. The only difference between successful investors and unsuccessful ones is the approach with which they plan their investments.

The Health Benefits of Applying Window Tint in Your Business

two people installing window tint

two people installing window tintInstalling window tint in your business or commercial space has several benefits. Less outdoor heat or cold penetrates the building, which could help your heater or air conditioner regulate indoor air more efficiently and decrease your energy bills. It also reduces the glare that could make your employees uncomfortable, especially in relatively warm areas such as Arizona.

Commercial window tints may also help protect your employees’ health. Even while indoors, your employees may be exposed to harmful ultraviolet (UV) rays, which permeate transparent glass, and they could develop skin and eye diseases.

UV Rays and Its Harmful Effects

Exposure to UV rays can put your employees at risk of skin cancer. In the United States, one in five Americans develops skin cancer, while one person dies from its effects every hour. Unprotected exposure to radiation is the most preventable risk factor for skin cancer, but a lot of people may not be able to avoid it. If your employees have to work in an office with tint-free windows, they have no choice but to endure possible exposure.

Other harmful health effects include premature aging, when the skin loses cells quicker from the radiation, resulting in an older, leathery appearance. Up to 90 percent of skin changes may be attributed to prolonged sun exposure. It may also cause skin damage, cataracts, eye damage, and immune system deficiencies.

Preventing UV Exposure

The Occupational Safety & Health Administration claims that the effects of UV rays depend on how strong the light is, the length of exposure, and how much protection the skin has. Apart from wearing the appropriate clothing and accessories, your employees should avoid sun exposure between 10 A.M. to 4 P.M., when the sun is at its strongest.

Considering the time is around the usual office hours, you might think your employees are safe. But if your windows are unprotected, you could be keeping them in a room exposed to harmful UV rays. Quality commercial window tint reduces the risk of health effects.

Protect your employees from prolonged UV radiation exposure to mitigate the risk of UV-related diseases. Window tints can help reduce the amount of UV rays penetrating the glass, reducing the exposure and keeping your employees safe.

Four Things that Help a Business Succeed

businessman is very happyRunning a business is a risky challenge that comes with rewards if people know how to play it right. A successfully established company will have a loyal following of customers and a memorable brand. The need to help companies with their brands is so urgent that it has become a business opportunity on its own. New businesses usually look for these things:

Promotional Products

Business owners look for people to create and design promotional products for them. For example, some need to get shirts or tote bags printed with business logos for distribution. This presents screen-printing business openings for those interested in catering to these company owners.

Competent Staff

New businesses should also have employees who can do tasks well. Staff members in charge of serving customers in a shop have to be accommodating and quick on their feet when it comes to concerns. Having competent staff ensures that quality products are created and that excellent service is done.

Modern Equipment

Modern equipment is also essential for business leaders to invest in. For example, a diner or a bakery should have stuff that is up-to-date with current trends or technology. This is necessary because other competitors outrank businesses who stick to outdated equipment.

Online Presence

Lastly, business owners are expected to take advantage of the Internet because many people are online nowadays. Creating a website or a social media account for a store or shop will increase its reach to potential customers.

In conclusion, running a business entails hiring people, promoting products and engaging customers in person or online. Hence, services on the market can design promotional products for business owners or hire employees on their behalf. These must-haves for businesses are essential to their success.

3 Things You Can Do to Help Your Barbershop Succeed

Barbershop InteriorIf you’re planning to start your own business, a barbershop can be a lucrative venture as most men get haircuts once every three to six weeks. However, there are still many other things that you need to take care of to make this kind of business succeed.

Find the best location

One of the first things you should do when planning to open a barbershop is to search for the most suitable location for the business. As your target market is composed of men, consider opening your shop near other establishments that men frequent.

Situating your barbershop across public basketball courts, for example, is a feasible option. Also, you may not want to set up your business near other barbershops, so take note of the ones already in your area.

Invest in quality tools

A barbershop, of course, requires different kinds of tools. This doesn’t mean, however, that you’ll just purchase the first items you come across. Do your research to find out the best appliances, equipment, and supplies you can get to your shop.

There are actually online stores where you can review and buy items like Wahl clippers, shears, combs, and even barber chairs. Other items you’ll need include trimmers, razors, blow dryers, brushes, and hair products (pomade, styling cream, hair wax, etc.).

Create the right atmosphere

The right atmosphere will help your barbershop stand out above the rest. Apart from having barber’s pole and mirrors, you should design your barbershop with your target market in mind.

For instance — using the previous example of opening a shop across public basketball courts — you can decorate your shop with framed jerseys of LeBron James and Steph Curry or photographs of Kawhi Leonard with his braids and James Harden with his beard.

A barbershop is a great idea for opening a business, and you can improve the chances of your very own succeeding by having the best location, tools, and atmosphere.

How Much Does It Cost to Rent a House in New Zealand?

Panoramic view of New ZealandThe cost of Stratford rental properties may have increased in April, but it was cheaper compared with other places such as Auckland and Wellington.

An index showed that rents in the Taranaki region rose by 2 per cent to $380 per week for the month. In Auckland, weekly rental rates increased almost 4 per cent to $550. Rental properties in Wellington surged even more at 16.7 per cent to $480 per week.

Reason for Increase

Demand served as the main reason behind the nationwide increase in rents. This caused rental listings in Taranaki to rise by 122 per cent in April, while those in Southland rose even more with a 164 per cent increase. In Gisborne, the high demand for rental properties caused rates to increase by 20 per cent.

Rents in Southland cost $270 per week during the month, but it represented a 10.2 per cent growth on an annual basis. Despite the increase, Taranaki and Southland were among the regions where rents cost less than $400.

The dearth of properties for rent also contributed to higher prices, which led investors to consider developing more multifamily projects.

Multifamily Development

Simon Felton, Colliers International investment property specialist, said that multifamily properties could be the next big asset class in the property market. Felton believes that more multifamily projects could help in solving a shortage of houses, which may then lower rental prices.

However, there are certain challenges for developers such as familiarising themselves with the concept and industry regulations. Still, multifamily apartments may provide a steady income stream since people will always need shelter, according to Felton.

The place where you live plays a big role in how much you pay on rent. As wage growth continues to lag behind rental price hikes, it may be better to rent a house or apartment outside cities such as Auckland or Wellington.

Four Steps to Transition into a Zero-Waste Business

Team discussing zero waste planThe Zero Waste International Alliance defines zero waste as practising processes that will eliminate your waste materials. If you have a business that has been in the industry for a long time, the transition would be difficult but not impossible. However, the change does not have to be radical. To transition to zero waste gradually, start with waste reduction.

1. Brief your employees.

Before you start with any important initiative, you need to explain the rationale behind this to your employees. For this advocacy to be sustainable, you need the cooperation of your people. Get them onboard by inviting a credible speaker to have an in-depth discussion about the topic.

2. Start with baby steps.

The key to setting bigger goals and plans is starting small. You can start by putting better-labelled bins, providing reusable cups and cutlery in your pantry and banning plastics. Instead of punishing those who do not comply, reward those who do.

3. Reduce the use of paper.

This is one of the most basic but important steps in decreasing the volume of your waste. When disposing of paper waste, make sure that you collaborate with a company that can handle the secure destruction of your confidential documents. Then, make use of automation processes, web-based apps, and advanced technology to be able to go paperless. This makes not only your work efficient but also your tracking a lot easier and error-free.

4. Explore waste management systems.

No matter how careful or strict you are in implementing rules, it would still be impossible to eliminate waste totally without effective waste management solutions in place. Look for companies that offer this service, but do your research well.

Lastly and most importantly, know why you are doing this program. It is a challenging goal, and if you want to make the jump for marketing reasons only, forget it. It requires serious commitment and sustainability plans.

How Can Cloud Computing Help Your Business?

SaaS cloudWith just a few swipes and clicks, the Internet will allow you to do anything you want, from make a purchase to access entertainment. The tool is even more invaluable if you run a business. You can run pretty much any process online, from conducting meetings with partners in different locations to exchanging data on projects. And you can implement such processes through cloud computing.

What is cloud computing?

Cloud computing delivers computing resources online. These resources include:

– Database

– Servers

– Analytics

– Networking

– Software

Companies offering services for cloud computing typically charge you per usage through metered service. Other services allow you to pay according to your needs, which scales up or down as your business demands. Over the years, developers have come up with different categories for cloud services, namely: software as a service (SaaS), platform as a service (PaaS), and infrastructure as a service (IaaS).

Why is cloud computing vital for your business?

An innovative and relatively new process may seem tricky for a traditional company. Issues like security, access, and cost may prevent you from deploying such a solution. Whether you use public or private cloud services, here are just some of the advantages your business could receive:

You achieve productivity

Cloud computing eliminates some of the tasks that may overburden your employees. With the right service, your IT team can focus on essential duties that help achieve your business goals.

You reduce business risks

Cloud computing services can offer data backup, which allows your organization to continue its operations even amid a disaster.

You ensure data security

Your business can ensure protection for critical data or application development through a sophisticated system.

The other advantages of cloud computing are the potential to cut costs (because you don’t have to spend for hardware and software) and the ability to gain speed (because it delivers service on demand) for your processes. With the right provider of cloud computing services, your business can grow and compete in any market.

3 Needs Businesses Must Prioritize

business operations floor

business operations floorBusiness is a game of resources. Whoever can make the most in the least amount of resources tends to win the game. But really, the more important idea here is businesses that allocate resources smartly to the right aspects of the company are the ones that grow. Where should the resources go? It depends, but in most situation, these three:

Technology

Today’s businesses depend heavily on technology, which is why it makes sense to focus a sizeable chunk of your resources here. For instance, if you’re running an online store, not only do you need a well-designed e-commerce site. It would help your business if you have a mobile app. There might be a situation where you don’t have employees who can make this happen. If this is the case, CloudXtension noted that you might want to look at IT staff outsourcing services so you can keep up with competitors.

Marketing

There’s no use having a cutting-edge product if it doesn’t get to the hands of the right people. It’s important to have the right marketing strategy for a sufficient amount of time, so your core competencies could shine. This doesn’t mean you have to splurge on marketing, but at the very least, there should be a solid strategy behind what you do and how that reaches its intended market.

Manpower

At the end of the day, whatever service or product your business offers won’t be possible without the people working for you. As such, it’s highly important to devote adequate resources to them. Hire the right number of people for the jobs that need to be done. On top of that, keep them happy with good benefits and opportunities to go further in their careers. Treat your people well and they would treat your business well.

When your resource allocation is spot-on, there’s no way but up for your budding enterprise.

The Significant Jobs That a Majority of Retention Programs Overlook

A group of applicantsFor over a decade, prominent human resource tacticians have pursued a repetitive theme. They want their rock stars to work in job titles that mean most to the company. For instance, professors conducted a study revealing that a majority of businesses calculated less than 15% of occupations are what they refer to as tactical roles. Iconic Core Global and other industry experts further explain that this is the reason human resource management services should concentrate on uneven investments.

Based on these concepts, businesses must ensure that they employ and retain their top-quality employees. The job titles that generally receive plenty of attention at the majority of businesses are:

Crucial senior leaders.

This includes heads of logistics at a massive retailer, CEOs at consumer products offices, and the heads of design at luxury apparel businesses.

Connectors in the middle

Even though they were always overlooked, middle management roles have gradually become deemed as crucial to implementing the company’s tactic.

Future leaders with great potential

These employees are up-and-comers who are believed to occupy the top management roles of the company someday.

Although, the majority of companies provide little attention to keeping employees who fill three other positions. The ignored job titles are:

Indispensable specialists

These are roles in technology, R&D, and other positions crucial to the process efficiency, tactical direction, and product development of the firm.

Customer experience inventors

Employees in this position always communicate with the essential clients of a company and figure out how to retain them.

Crucial contractors.

These individuals are not actually employees, as they're a contingent staff who are important to the marketing, R&D, and other divisions of the company.

Not one of these roles is at the highest of the organizational chart, excluding a few of the client experience creators. As these roles aren’t tracked by the management, businesses generally ignore the significance of retaining high-performing individuals in them.

Protecting Vulnerable Parts of Your Building

People walking around office buildingNo matter how updated your security system is, some areas are considered weak spots. They are potential entry and exit points for burglars, which means a commercial building should pay special attention to them.

Because there are so many things in the office that could be targeted by burglars, you should reinforce these areas:

Garage

The garage holds your company vehicles–and everything you’ve left inside the cars. Moreover, it can be a potential entry point into the main building. You need commercial garage door services from professionals in Salt Lake City like Price’s Guaranteed Doors to inspect it for any signs of problems, which burglars may exploit to gain entry. Here’s another reason to have the garage doors inspected regularly: when they are damaged, they might cause accidents, which may cost money and lives.

Doors

Companies usually position security cameras near entryways such as doors, but make sure you are positioning the cameras in the right direction. Check that the direction of the door opening will not hinder the camera’s view, as that defeats the purpose of the security tool in the first place. A person may hide behind a door, and your camera will not see their face, especially if it watches the door closely, not the area surrounding it.

Windows

Glass windows are sophisticated. They show a certain boldness because everyone knows that glass can be broken. Because of this, the glass you choose for your windows should be strong and can withstand a strong impact. This is for safety reasons as well, as glass shards may hurt people who happen to be nearby when they break. It would also be beneficial if you have window blinds in place, so people cannot easily look into your rooms. This is to prevent your building from being a target in the first place.

There are necessary precautions that improve the security of your commercial building. Each one of these is important, so don’t choose just one area to protect.