By Steven D. Strauss
An imperative how-to advisor from the small company columnist for USAToday.com.
Hundreds of hundreds of thousands of individuals begin their very own companies each year, and untold extra dream concerning the hazard of turning into their very own bosses. whereas entrepreneurship has its many strength rewards, it additionally incorporates particular demanding situations.
Steven D. Strauss, one of many nation’s premiere specialists on small company, has constructed an easy-to-read compendium of every thing an aspiring entrepreneur must begin and reach enterprise. He explains what works, and what doesn’t, whereas giving marketers ratings of information and tricks. Readers will research:
• Why following one’s ardour is necessary while deciding upon a company.
• how you can study a franchise estate.
• Which company shape is best-corporation, partnership, or sole proprietorship.
• What investment thoughts are available-from enterprise capital to SBA loans.
• How a lot to cost for items or prone.
• Why having multiple profit move is critical.
• find out how to begin a company on a shoestring.
• thoughts for development as soon as the enterprise is up and operating
Unlike different books on company formation, Strauss’s suggestion not just explains what steps to take, but additionally comprises confirmed concepts, worksheets, varieties to fill out, and luck secrets and techniques. consequently, it's a company primer, step by step consultant, and luck thoughts ebook all rolled into one.
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This section also contains a list of the names, addresses, and telephone numbers of current franchisees and those who have left the system in the past year. That alone makes the UFOC worth its weight in gold. Common Mistakes to Avoid Once all of your questions have been satisfactorily answered, you have done your due diligence and have spoken with existing franchisees, and you understand where your store will be located, it is time to sign on the dotted line. But before you do, make sure you avoid potential pitfalls.
You and your attorney must carefully review the franchise agreement, lease and real estate agreements, and all other contracts. Any promises that the franchisor made earlier must be made part of your contract to be legally binding. Not analyzing the market properly. While the franchisor may help with site selection, it is nevertheless your responsibility to decide whether a particular location is promising. Is there sufficient traffic? What is the competition like? Are the competitors so strong that their market saturation may be 3 / Buying Franchises and Other Businesses 47 hard for you to penetrate?
It was there that they started their company. com was born. 22 T H E B U S I N E S S S T A R T - U P K I T tell anyone that you work from home because the new entrepreneurial economy and its attendant information age has made it practically impossible to tell where someone works. Between fax machines, PCs, cell phones, personal digital assistants (PDAs), e-mail, and call waiting, anyone can be an executive in his bathrobe if he so chooses, and no one is the wiser. This is good news for the would-be entrepreneur, because one of the advantages of setting up shop at home is that it drastically cuts down on overhead.
Business Start-Up Kit by Steven D. Strauss