Tag Archives: how to start a business

China’s Luxury Market Evolving at Alarming Rate

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Anyone who wants to learn how to start a business can start by thinking of what products are currently in demand at the moment, how long that demand will last, and how to supply that particular consumer need or want in an efficient and cost-effective manner.

Those aiming to acquire certain franchises for sale will be interested to know that there’s an ongoing purchasing trend happening with the Chinese consumer market right now. Based on statistics released by personal luxury brands – including Prada, Gucci, Dior and Burberry – a large portion of their revenues generated is currently being driven by Chinese consumers.

Prada recently announced a 30 percent year-on-year increase in net income during 2012’s third quarter, with sales in China increasing by a whopping 33 percent during the same period. Moreover, roughly 50 percent of the company’s sales to the Chinese are raked in from stores residing from outside the country.

Observers believe say that the fashion house’s impressive figures clearly denote the Chinese’s ever-growing refined tastes, and their need to satisfy this insatiable desire through the purchase of luxury goods.

Boston Consulting Group estimates that the Chinese will have spent $41.5 trillion dollars on such merchandise by the end of the decade. This organization also predicts that the country’s annual $2 trillion expenditures witnessed in 2010 will jump to $6 trillion by 2020.

“The Chinese consumer has a profound belief that they deserve luxury products now. They had fifty years with so little, and now, many can afford to buy luxury goods,” says Francois Pinault, CEO of the French luxury producer and retailer PPR (originally known as Pinault-Printemps-Redoute.)

“Their growth in demand is rooted in an expression of individualism in the way you dress. It is a way to differentiate yourself from friends and neighbors. Chinese consumers buy to treat themselves. This China market has evolved faster than any other market in the world.”

In China – as well as other locations across the world – luxury franchises for sale offer their owners an excellent opportunity to capitalize on this trend of significantly increasing demand for premier commodities.

Those within the early stages of learning how to start a business may be interested in knowing that experts are predicting this trend to continue for a diverse range of lux items and services, including, clothing, accessories, watches, home goods, wine, health care and education.

Fresh Pita Pits Franchise Expands Phoenix Presence

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The Idaho-based Pita Pit is poised to test its mettle anew on how to start a business in Phoenix this 2013. Ranged against competitive fast-casual restaurant franchises, Pita Pit is set to open several outlets for its sandwiches in Phoenix early this year. An Arizona couple, Todd and Blanca Runyan, is at the forefront of this bid, having signed a franchise agreement to bring to the Valley 11 Pita Pit locations.

One outlet is scheduled to open early this year on Mill Avenue in Tempe. In December, the couple opened a Pita Pit outlet in Yuma and is now training their eyes on the Phoenix area. If their plans pan out in the Phoenix market, Todd Runyan said they expect to open from two to four Pita Pits outlets a year in the area for the next several years and eventually exceed their initial target of 11 locations. Once those 11 outlets are operating, the couple hopes to do more, and 22 different locations are already being scouted, he added.

Each of Pita Pit’s Phoenix location will have 15 to 20 employees. The other brand players in the local fast-casual sandwich franchises for sale include Jimmy John’s Gourmet Sandwiches and Subway. Pita Pit differentiates itself from competitors by using pita bread on its sandwiches. The healthful feature of the Pita Pit sandwich is one of the major factors which drew the couple to the franchise. This is healthier food, really good, and portable, Todd Runyan said, adding that it is a little bit on the lighter side but is still filling.

Pita Pit’s vice president of franchise development, Corey Bowman, confirms this observation, saying that the key differentiator of his company’s product is its healthful feature. Besides this selling proposition, Pita Pit allows customers ample choice on how to customize or build the sandwich to their own liking, Bowman said on the strength of his company’s franchise for sale.

Prior to the Runyans’ franchise agreement, Pita Pit already has a presence in the Phoenix market. A separate franchisee operates a location in north Phoenix on Happy Valley Road. Another in operation on Tempe’s Mill Avenue has been closed but will soon reopen as the first Valley location for the Runyans.

Other fast-casual restaurants which have recently sprung up in the Phoenix market include Chicago-based Potbelly Sandwich Shop, Delaware-based Capriotti’s, Pennsylvania-based Saladworks, and Wisconsin-based Cousins Subs. Likewise, San Diego-based Fresh Healthy Vending which sells franchises on health-snack vending machines, has begun expanding its presence in Phoenix.

Franchise Opportunities in Naperville, Illinois

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Why bother learning how to start a business – that’s statistically doomed to fail – when buying a franchise instead would be a much safer and profitable investment? Franchisors (many, not all) have developed foolproof systems of operation for franchisees to follow in order to run their businesses in the most efficient, stress-free way imaginable; all the while ensuring that profits are maintained and gradually increased.

A diversity of these companies has created franchise opportunities for locals of Naperville, IL to start their very own enterprise today. Not only can such commercial establishments help people with little to no entrepreneurial know-how generate impressive streams of revenue over a long period of time, but they’ll also give them the chance to be something many of them have always been dreaming about: becoming their own bosses.

Franchises being offered in Naperville are designed to compete in various industries. Moreover, a large percentage of these franchisors are well-established brands that people across the country can easily identify, thereby giving a considerable advantage to their prospective future franchisees.

Experts feel that a couple of franchises that could prove to be lucrative businesses are Menchies and Title Boxing Gym. The former has established a solid customer base at the West Coast, and is currently expanding to the East today. An advantage that comes with this trendy yogurt shop is its affordability, making it one of those franchise opportunities ideal for those working with limited budgets.

Title Boxing Gym — as its name obviously suggests – offers consumers a diversity of services, amongst which includes its famous group fitness workout concept. Establishing this type of business today would make for a wise investment, as thousands within Naperville have likely included “getting a better physique” as part of their New Year’s Resolutions.

However, not much know about the current offerings being made by these corporations, and only find out when available territory has either become excessively saturated, or completely unavailable. That being said, it’s important to start doing research on the franchisors with only a few outlets – preferably around 30 to 50 — open within the area today.

Although franchise opportunities ideally allow its franchisees to skip out on the burdens of learning how to start a business from scratch, not all franchisors are guaranteed to succeed. Doing a background check on prospect franchisors, as well as their current franchisees, prior to making a purchasing decision is vital.

How Franchising Helped One Couple from Reno

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Brita Ingstad and Greg Zrinyi dreamed of having their own bar and restaurant to make money however the lack of funds made them choose the path to being chocolatiers.

The two worked with Nevada Small Business Dev’t Center at University of Nevada in Reno on how to start a business such as a restaurant.  They gathered information, prepared the business plan, joined the competition, and met several bankers to apply for a loan to open a restaurant.

The couple went to meet with a banker suggested by Rod Jorgensen, management and counseling consultant director working for a small business center.  However they learned that banks are reluctant to lend funds to high-risk investments like restaurants.

The banking sector may be willing to provide loans to more established enterprises like the franchises however the banks are wary to commit to emerging independent food ventures because of first-year failure percentage.

Zrinyi stated that there are several food franchises out there for individuals who are thinking of venturing into this type of business just like they did.

A Colorado native, Ingstad chose to open their Rocky Mountain Chocolate Factory shop in the Reno area.  The venture’s international franchiser is based in Durango, Colorado and has the chocolate candies, dipped items, and caramel apples as its popular products.

Jorgensen assisted the couple throughout the whole process, which included the review of franchise agreements and the help with the lease.

The pair had to pay the startup fee of $24,500 and must be able to settle the 6% to 10% royalty sales.

The store opened in March of 2008 in the northwest of Reno.

About 60% of the store goods are handcrafted in the store location, which include the logo merchandise and other package items.  Chocolate bars and hot chocolate mixes come from the Colorado site.

Ingstad has made caramel apples that local consumers like since the franchise provides franchisees freedom to be creative.

She has also begun offering her confections during special events held in the town and not merely relying on the shop location to attract customers and make money.

Zrinyi stated that the various events in Reno become opportunities for small businesses to make it big.

According to Ingstad, the money earned during the special events is set aside to cover for the months without chocolate holidays.

Five years after the store opened, the two are breaking even.  Both are hoping that the following year will bring profit.

Ingstad shared that they have just started growing and expanding their business.

Currently, the store has four employees working part-time and sell products in four various places through mobile setup.

The couple still calls on Jorgensen for some opinion and answers on leasing concerns.

Zrinyi finds the small business center one excellent resource for their business.  He added that they can call the center for advice anytime and Rod is always available to help with things.  He stated that this is very helpful for couples like them who need assistant and support on how to start a business and make it grow.

Finding The Ideal Franchise

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Learning how to start a business to make money that flows on autopilot can be unbelievably tough, and is something that not everyone can do. Fortunately, franchisors have worked hard for years to create adaptable and successful operating systems for their franchisees to follow so they too can achieve financial success.

While reaping the advantages of a business built around a thoroughly tested and perfected system is an alluring idea, carefully screening franchisors, and ultimately sticking to the best one, should be done beforehand.

With that said, here’s the first point to consider when picking a franchise: total acquisition costs and future operating expenditures. Some folks like to go for ones which they can cost-efficiently purchase and sustain, while others may opt to go for pricier variations that’ll probably require a bank loan.

For the latter, the British Franchise Association (bfa) recognizes three major banking organizations as specialists in financing loans for franchises, namely: Lloyds, HSBC and RBS/NatWest.

Second point for consideration is the franchisor’s bfa membership – in order for these businesses to become a member of this prestigious organization, they have to comply with rigorous criteria based on European Code of Ethics, operational procedures, and franchisor/franchisee practices.

To verify a franchisor’s bfa membership, potential franchisees are advised to check out the official bfa website online.

Third, we have the actual operation systems of targeted franchises – some systems are easy to learn and execute through training (rendered by franchisors,) thereby saving the franchisee from the burden of learning how to start a business to make money in consistently large amounts.

Also, seeing quite a number of franchises successfully operating for years is also a good sign that the system adopted by its franchisees is effective. Little to no branches closed on record can be reflective of a franchisor’s strength, reliability, and efficiency.

Fourth and probably the most important point to consider is the prospect business’s impacts on the owner’s lifestyle. Different franchises will require varying levels of owner commitment. Also, the actual trade itself has to be interesting for the future franchisee to keep engaged. For example: people into cars would definitely be happier running an automotive shop than operating an ice cream store.

By purchasing the right franchise, anyone can skip out on the painstaking process of learning how to start a business that’s engagingly fun, and can make money in bundles for years to come!

Franchise Owners Expected To Make More Money In The Years To Come!

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A great way to make money is done by learning how to start a business, especially one that business owner is passionate about. However, passion without a systematic method of operation can only take a businessman so far, and will often result in financial failure.

Luckily, franchisors have already developed tested and proven strategies for effectively running businesses so that their franchisees don’t have to. This in turn increases franchise owners’ chances for generating a large and consistent stream of income.

On the other hand, now that the economy isn’t exactly in tiptop condition, many people doubt the touted longevity and income stability rendered by these types of commercial establishments, especially those that are essentially small businesses.

Contrary to that, research conducted by credible organizations, such as the Office of Advocacy, U.S. Small Business Administration (SBA) and Franchise Business Review (FBR), say otherwise. The latterwhich is a national market research firm, recently released a report stating that 72% of the franchisees interviewed believed that their opportunity for growth (to make money) is strong to very strong.

The respondents include over ten thousand franchisees located in the US and Canada alone. Of course, the 28% that didn’t believe their growth potential was strong is inclusive of individuals who just recently learned how to start a business.

“The economy may be weakening in many places but franchisees are very positive about their growth,” said Eric States, President of Franchise Review.

“When you consider the little known fact that the top 50 public franchise companies have outperformed the S&P 500 by 70% over the last six years, you can understand why franchise owners are so optimistic. The focus of the media is always on the ‘doom & gloom’ of the economy. Meanwhile, the franchise industry is booming! More people should stop watching the stock market tumble and consider buying a franchise business.”

Furthermore, a study conducted by the SBA suggests that households, which own small businesses, had increased chances for landing within the top ranks of income and wealth. Their report was quite lengthy, but one noteworthy fact includes: households which owned more than one businesses were more inclined towards becoming high income earners and wealth holders as compared to households owning one business.

With that said, any individual can easily capitalize on the enormous opportunity for growth by learning how to start a business, and running it efficiently to make money. For those who want to skip the trial and error process involved with operating a successful commercial establishment, they could always opt to purchase a franchise instead.

The Importance Of Building A Good Brand Name

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Considering how fierce competition is amongst companies in almost every industry is today, learning how to start a business that can last is absolutely necessary. Some people like to set their focus on how to make money quickly without using a key method that’s crucial to any commercial establishment’s financial success, namely: developing a brand name.

This goes way beyond the aesthetic value brought about by fancy logos and font styles. Branding involves “psychological programming” of customers to associate positive emotions and perceptions towards a certain company.

The process of getting people to tie feelings or thoughts of positivity to a company name doesn’t require a master’s degree in psychology, but it does require the entrepreneur to grasp clear understanding of the target market’s needs.

Upon fully understanding what exactly it is they need, selling them products and services that target those needs can be done. Reinforcing customer loyalty may be done by relaying a message which tells them that the perfect solution to their problems can be rendered by the business.

Moreover, these solutions should be given in a timely, sincere and consistent manner to further program the minds of the target market towards believing that the business establishment is the best at doing what they do.

No one can actually learn how to start a business that can make money in consistently large amounts throughout the years without branding. There are several methods that can be used to create a good company image that people will learn to love.

With that being said, the first strategy on the list is to give excellent customer service – while it’s possible for businesses to offer the exact same price of a range of products, the way the staff treats customers will vary from company to company. Always keep in mind that customers will go back to the place where they’re treated well.

Second strategy is to produce professionally designed marketing materials. Upon seeing nicely designed logo, cleverly crafted advertisements plus other materials, people will subliminally associate the company’s image with credibility and financial strength.

The third method is to differentiate the brand name from that of the competitors. This must accurately explain what makes the company better than the rest (without using mudslinging tactics) and why the consumers should buy from the particular business instead.

There are of course other strategies, which may be implemented to further develop the brand name. The ones here are a few basic pointers that an individual should keep in mind when he decides to learn how to start a business, which can make money consistently through the establishment of a trusted and credible brand name.

The Massive Potential Of Senior Care Franchises For Sale

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Anyone who doesn’t know how to start a business successfully, as well as the complicated steps to be taken to ensure its continued growth, has all the reasons in the world to buy a franchise for sale instead. After all, why should a person bother trying to create a formula for success when the best possible ones have already been created?

While there are many franchises available for sale today, many of these are mere “fads” that don’t guarantee long-term stability in the long-run. On the other hand, senior care franchises are some of the few which have the potential to generate loads of cash for owners, while guaranteeing continued business in the decades to come.

The biggest reason behind this is the fact that it targets the baby-boomer market – this market’s strength lies within its massive population of approximately 76 million individuals, all of who were born during the years 1946 and 1964.

Companies have been designing products and services which were meant to target this market, and enjoyed massive profits in the process. However, learning how to start a business that effectively taps this market will be time-consuming. Moreover, doing so wouldn’t guarantee the amount of proceeds that tested and proven business models reap.

Moving forward, a senior care franchise for sale, such as the Spectrum Home Services, Inc. is highly in demand by a large portion of the baby-boomer market, most of who are individuals are nearing or are at elderly ages.

This company offers non-medical care and home care services, wherein the latter is a highly sought-after commodity. Studies show that the majority of old people prefer or would rather spend the remainder of their years in the comforts of their own home. Comparing their rates to other rival companies in the industry, “Spectrum” unquestionably is a cost-effective alternative that offers great value for their client’s money.

Aside from being relatively more affordable as compared to its counterparts, Spectrum can render a range of services that isn’t typically included in the packages created by other competitors, such as the following: companionship, handyman, relocation help, and yard cleaning.

The benefits of acquiring this franchise for sale are bountiful, and are highlighted by thorough training at corporate headquarters, assistance from a Spectrum representative at the franchisee’s establishment for three to five days, and ongoing support regarding any concern throughout the duration of the business.

Considering the complexity of learning how to start a business in this industry, let alone keeping it alive, opting to purchase a reputable franchise such as Spectrum would be a much better choice.

Success with Hair Salon Franchises like Fantastic Sams and Supercuts

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The top two leading hair salon franchise opportunities in America are Fantastic Sams and Supercuts. Those who want to know how to start a business may want to consider successful franchises such as these.

Fantastic Sams claim that they are the nation’s biggest full service franchise for hair salon with over 1,350 salons in the country. They provide services connected to hair care as well as cuts, color, styles, and texturing services. It is their promise to make clients look incredible.

A representative for Fantastic Sams mentioned that their franchise stands out among their competitors because they differentiate themselves by catering to different customer hair care needs whether men, women, or children. By being in the industry for more than 30 years, they were able to build brand recognition that developed with their salons around America.

Also, Fantastic Sams offers a soft-skills and management training curriculum through their Fantastic Sams University. This is a type of support that they are able to offer to their franchise owners. The success of Fantastic Sams is attributed to their skilled regional owners and also to their franchisees looking for franchise opportunities in their company.

So what does Fantastic Sams have to offer their potential franchisees that are interested to know how to start a business? They have a solid brand name, which is known well across the country. Also, their support and operating system has been proven to be a success in the 30 years that they have been in business.

Past experience in the industry of hair care is not a requirement to become a franchisee. Fantastic Sams’ are all for helping entrepreneurs who are naturally outgoing and people-pleasing. Working in a service business means being surrounded by people all the time, so it is important that the investor loves working with people.

On the other hand, Supercuts is a Regis Corporation franchise with their main client base being adult men who are interested in obtaining a modern look at an affordable price. This is one of the great franchise opportunities to consider, especially since they retain a lot of their original franchise owners from when they first started. At the moment, this business offers 2016 hair salons around the world and is ranked #1 in the 2006 Entrepreneur magazine for the hair salon category.

What makes Supercuts different from other franchises for hair salon is that it offers a week-long training program at the Hair Stylist Academy (HAS). This is a program required of all employees before working for the brand’s hair salon outlets.

So what does Supercuts have to offer potential franchisees? They boast of the support they offer, which is essential to the success of a franchise. They also have the best support in the industry with 10 departments dedicated to supporting all franchisees from marketing to operations to even real estate.

Anyone who wants to know how to start a business should consider a franchise from them. Supercuts are in search of franchisees who have a great sense of business and who listen to the advice of their people so that they can be partners in success.

Franchise a Flourishing Fondue Business like the Melting Pot

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Fondue is something that consumers cannot get enough of from the Melting Pot, which is a restaurant franchise business the first started in 1975. They have been franchising since 1984 and today, 101 Melting Pot food restaurants stand all around the country. Those looking into how to start a business may want to consider franchise opportunities such as this one.

The Melting Pot restaurant stands out from other fondue restaurants because they know exactly what fondue is. They have been serving guests with delicious fondue and incredible memories for thirty years. They have been the leader when it comes to this particular dining niche from the time that they began in 1975. They have also created a unique menu that consists of four complete courses ranging from salads, entrees, and desserts.

The representative of Melting Pot expressed that the success of the restaurant is brought on by a number of things. For instance, as the franchisor, Melting Pot carefully chooses new franchise partners. They do not just accept anyone into their company because they want their owners to be present and work actively in their restaurants. They are geared at offering top-notch customer service and to be able to reach this goal, they need the help of active owners or franchisees to take part in this. Recently, they have also seen that their brand awareness has increased. When it comes to discovering how to start a business, a big chunk of it has a lot to do with size. The fact that they now have 101 restaurants all around the nation has allowed present consumers and potential consumers to recognize the brand of the Melting Pot as a leader in fondue dining.

The Melting Pot restaurant is looking for possible investors, interested in franchise opportunities. They are looking for those committed to top quality and are ready and willing to participate actively in their job in their restaurant. They do not sell to big corporations. The restaurants are all owned and operated independently and they are in search of owners who will also act as the face or image of the restaurant in their location. This is a big thing for the owners of Melting Pot.

For anyone who wants to know how to start a business and is considering franchise opportunities, The Melting Pot is able to offer a one-of-a-kind dining niche. Even better, no prior restaurant experience is required. Looking at Melting Pot restaurants operationally, they do not require chefs, grills, or even flyers. This is why their concept is so attractive to many regardless of what background they have.