I recently email a contact, Greg Nunan for his thoughts on the benefits of Franchising. Greg has 10 years experience in an Australian fitness franchise group, EFM Health Clubs, 7 as a part owner of the Franchise group. He agreed to put a few thoughts down about the benefits of franchising.
There is a definite plus if you want to own your own business to buying a franchise over starting one from scratch. Before you jump into purchasing one make sure you do the following steps:
I love this “secret” method of collecting silver quarters to increase a business’s revenue without adding too much work or time if you’re a cash business. Silver quarters are US quarters minted before 1965 that contain 90% silver and 10% nickel alloy that are worth more than the $0.25 from $1.00 to $10.00 each. If your business takes in a lot of cash, you can make an effort to tell your cashiers to save any silver quarter they come across while on the job. It will be rare, but after a year of diligently collecting them, it can add up to thousands of dollars of additional revenue at the end of the year. Who wouldn’t want that?
The three most important things that one should have for him to say that he is financially stable are income, savings, and investment. If you have one or two of these but not the other then you are still financially unstable. For example, you have a steady income but no savings. Do you think when rainy days come your income can sustain you? I don’t think so.
The concept of having all three is something that most people fail to appreciate. Most would be content at just having a steady income. What they fail to take into consideration is that investments are able to greatly boost up your savings and income. Worse, very few even have a good savings to begin with.
As a result, a lot of people today are looking to work all the days of their lives and still fall short of enjoying that life they dream of. All this is just a matter of changing perspective. You were able to have a good paying job. That great! Now, start saving money as soon as you get your salary.
Saving money as a lifestyle
Allocating money for savings is something that you have to do by heart. It should be a lifestyle. Saving money just for having a savings won’t do. You need to develop this skill early on in life.
Try to learn from the ants. These crafty little insects work all day to gather food, so that when the seasons for rains come, they no longer need to go out because they have enough to feed them for the entire season. If you have not developed at yet, start now.
When you have a good savings and a time comes that you would need to construct your own home, you may have enough to complete the project without having to go for home loans from institutions such as this site.
Building your own Investment
Investments provide you an opportunity to build wealth over a long period of time. It could be risky but it has the potential of greatly boosting up all your income and savings. The best way to minimize the risks involve is to spread your money into different investments. This will help offset losses with gains from another investment.
When you have healthy savings and investments, you can rest assured that you need not work all the days of your life.
Supporting charities and non government organizations that do civic work is a common practice among companies big and small. All over the world, corporations or industries would set aside funds and donate to various charitable institutions or different causes. Some would choose to donate to the rain forest or for cleaning the oceans. Others choose to give to more established organizations.
Among established non-profit organizations UNICEF is one of those which has helped the most number of people in the most number of countries. As a United Nations agency, UNICEF has representatives in all UN member countries. Their fund-raising projects are prominent in the business world as well.
For accounting purposes, donating to large organizations makes sense. You can donate large amounts of money and have these written off on the accounting books. This would help the organization a lot, help children all across the world, and at the same time it can serve as a fair amount of tax shield for your company. That’s one way of looking at corporate donations to the cause.
Tax shields aside, companies give out donations to organizations like UNICEF as a show of good corporate citizenship. In most cases, UNICEF is present in the country where the business is. This doesn’t mean however, that it is the direct community that will benefit from the financial assistance. UNICEF assists the poorest of the poor children from underprivileged families. Since Australia is considered as an advanced nation, most of the donations go to children in Australia or Africa. Donations are also passed on to war-torn countries where children are affected by wars and civil unrest.
Company donations to charity can be done as an outright cash dole out or through pledges. Some companies host elaborate charity balls or dinners so that board members and trustees dig really deeply into their pockets. Employees and personnel are also made part of the effort, no matter how small their donation may be. For those who cannot afford to sponsor a child or make monthly donations, there are still different forms of help that can be given out.
In the case of corporations, financial assistance is the best course of action for them. It is a win-win solution. At the end of the day, the children stand to gain from this exercise.
Most people believe that by the time they start working, they have given up all their freedom. Because of this, they are afraid that getting married and having kids will net them even less freedom, as they believe it will create more financial worries for them and also rob them of what little precious time they have left for themselves. Nothing can be farther from the truth: it’s entirely possible to live not only a carefree, fulfilling life as an employee, but also as a married employee with a spouse and kids.
How is this possible? It’s actually very simple. To address issues of finance and time, here are a few tips to help you live a worry-free life with family:
- Treat time with your kids not as a chore, but as a way to become a kid again. Many people feel that spending time with kids equates to looking after them. Instead, play with your kids. Enjoy the things they enjoy. Take this as an opportunity to fulfill your yearning of going back to “simpler times.” Your spouse wouldn’t mind, and your kids definitely wouldn’t, either. This will also help you form stronger bonds with them. Consider sharing with your kids an artistic skill you learned as a child, like painting or papercraft.
- Be spontaneous once in a while. Planning activities with your family is helpful, but the very act of adding them to your planner can sometimes cause you to treat it as just another appointment. Go to the beach, watch a movie, or even just to the park out of the blue. You can easily find suggestions for day trips on sites like TripAdvisor.
- Make saving a family activity. The benefit is twofold: it will teach your kids to save, and it will help you save for emergencies or bills, or for something you want to buy. Get piggy banks for each member of the family, and ask them to drop some change in every day. Once they become full, you can tell your children that because of their diligence, they can now buy something big for themselves. Eventually, you can teach them (and yourself!) more advanced saving techniques, like the 50/20/30 rule.
- Get covered. Getting insurance is absolutely important, as it will take a huge load off your back in case you need to pay for massive hospital bills for yourself or your family. However, some people, even today, can’t be bothered to get insurance because they feel it not only adds an additional expense, it is also quite bothersome to seek a financial advisor. Here’s the news: if you know the 50/20/30 rule by heart, you’ll have more than enough for your monthly insurance premium. And if you believe it’s a chore to seek life insurance, it’s not–it’s ridiculously easy to find life insurance quotes on the Internet.
Living a carefree life with family isn’t difficult, as long as you know how. Follow the simple tips above, and be on your way to living your life to the fullest with your loved ones!
Every day, dozens of clients stream into my office asking for the same thing: advice on how to deal in a bad economy. Years of experience and helping my clients cope with poor economic situations have equipped me to give a few good answers. However, what worries me the most is that not enough out there are getting the help that they need – hence this post. Below are just a few ways that you can save money in a bad economy. Taking advantage of these tips can put you in a better financial situation and ease the burden during a period of time that is already stressful as it is.
Fewer Unnecessary Expenses
First and foremost, you’ve probably heard this tip before. Stop spending money where it does not need to be spent. Chances are though, you hardly enacted this tip into your life. I get it, not buying that morning coffee, bypassing date night at the movies, and saying no to your friends that are going to that hip new restaurant in town is beyond difficult. But, on the other hand, in this bad economy, it is something that you need to take seriously and do. Your finances will thank you later, and when things pick up again, you can go back to your old ways. To make things easier, you can cook an amazing dinner at home and invite your friends, make your own coffee, and be creative with date night ideas.
Follow Your Account Balance
Statistics show that theft increases when the economy is bad. To protect yourself and your money, one major recommendation is that you seriously monitor your finances. This means checking your bank statement weekly, reviewing your spending, and being aware of what you half. In addition to lowering your risk of being a victim of robbery, another benefit of tracking your spending is that it provides you with a way to become more comfortable with your finances.
Protect Yourself Legally
Being involved in a car accident when finances are tight is one of the worst things that can happen, especially if you don’t have legal protection. Having use to sharing an office with a law firm that specializes in car accidents, I’ve seen injury claims costing six figures. Legal protection in a car accident can help you receive the compensation that you need to pay medical bills, fix your car, and get your life back on track after such a harrowing experience. So, having experience working with a car accident lawyer or having a friend who is a car accident lawyer can help you immensely.
Reduce Your Water and Electric Bills
extremely great expense that many people do not think of cutting down on is their electric and water fees. By unplugging your appliances, reducing water use, using energy efficient appliances, and ensuring that your home is properly sealed, you can easily save money on electric and water bills. You’ll be proud that you saved money in these areas and you’ll also have more back-up funds in the bank.
Lastly, another smart move to managing your finances in a bad economy is to keep an emergency fund. You don’t know what kind of emergency expenses will come up, and having some cash set aside for those times will prevent you from feeling stressed and extremely strapped for cash.
Managing your finances may be a bit difficult, but keeping the above tips in mind can make life easier for you in a bad economy. The above recommendations are meant to help keep your financial state as positive as possible when things are challenging economically.
There was a seminal book in the 1980′s titled “Buy Low, Sell High, Collect Early and Pay Late: The Manager’s Guide to Financial Survival” by Dick Levin, and in that book he kept on harping about leasing equipment instead of buying them. For the most part, the reasoning is that you would be extending your cash if you lease equipment. He also adds that there is no need to buy new equipment or to keep on buying new equipment, if there is an entirely usable alternative.
The author would definitely love to talk about the office copier. A copier is a piece of machinery which needs support and maintenance. It gets used as often as necessary. Which could mean that it may be heavily used, or it may be used for other things besides office copy. This is not to say that the copier no longer has any use in the office. It’s just that a copier does not need to be bought to be used. You can lease a copier.
Copier leasing solves several problems. First, you would have a copier, with almost no money upfront. Second, the support and maintenance is now in the hands of the leasing company. If something is wrong, they can pull out the copier and replace it with a service unit. The only things you need to worry about are the copier supplies (toner and cartridges) and the paper. If a copier keeps on encountering paper jams, you can ask the leasing company to have it replaced. You can check out that information here.
If you buy a copier, you would need to depreciate it for five years. By the time it has become fully depreciated, you would have brought it in for repairs at least once a year, and you would have spent almost as much in spare parts as a new one. Additionally, if you want to sell it at any time, you would be selling it below the depreciated cost, at least in the first three years.
Bottom line is that a copier should be the least of your worries. If you want a copy, you can have it immediately without worrying if it will work or not, if the print will be dirty or your hands would get dirty. Besides, with the internet, computers, networking, email and cloud computing, there should be no more reason to have lots of document copies. For a small company, the paperless office can be a reality. For large corporations, the paperless office is still a stretch, but it’s getting there. Paper copies, and hard copy prints of documents will not go away anytime soon. But printing documents has been steadily going down in number. Soon, the only things which need copies are invoices, vouchers and any other item which need a signature, as well as supporting papers or copies of identification cards.
There will come a time when even fax machines and copiers would no longer be needed in the office. A smartphone can do those things without using any paper. There are apps for tablets and smartphones which can duplicate the use of copiers and fax machines and it is only a matter of time before the apps totally replace them, and this would then be the start of the paperless office.
When filing disability claims with the Social Security administration, people often dismiss hiring a lawyer as totally unnecessary. People I’ve met have told me that they’d rather do it on their own and that there’s no need to hire a lawyer. Lawyers, they said, will only add to the cost while the fact is they need every bit of that claims money.
Point taken, but from a financial standpoint it is more practical and cost-effective to have a professional one do it for you. Here are two compelling reasons why:
1. It saves you the time and effort
According to records, it takes about three to four months before you hear from the Social Security administration. By this time, you have already gone back and forth several times, spent days standing in line only to be told to come back at another time. This is true with any government agency, but it is compounded in this agency because of the tens of thousands of disability claims that they receive every year. Given the fact that this is something that they have to investigate and verify, you cannot fault them for wanting to be thorough. An Auburn disability lawyer has handled hundreds of disability claims and already knows the kind of documents and requirements that the social security people are looking for. They’ve been there so many times and know their way around the system. An individual on the other hand, will be pissed off when asked to come back time and again and bring more documents or proof of claim.
2. Pay only when you get your money
You don’t have to shell out money when you hire a disability lawyer or any other claims lawyer for that matter. The agreement is that their service should be good enough to win and that’s the only time they will get their money. In the meantime, you and your family can concentrate on recovery. There are therapy sessions to attend, follow up check ups and paperwork to prepare for if you want to resume working at your place of employment.
Without lawyers, most people would just give up filing disability claims, and this is not good. People deserve to be compensated for things that happened to them, especially if it was because of someone’s neglect.
There are a lot of reasons why portable toilets are a must. They could be used for staging concerts, public fairs and many other activities. These toilets can either be rented for temporary occasions or bought when there is a need to host various public activities in a year. If you are planning to invest on portable toilets, be it for rental or actual purchase, you need to make sure that you are getting the best deal possible. Here are some of the tips that you can follow so you won’t spend a lot:
• Make sure that you decide whether it is best to buy or to rent portable toilets. In general, rental fees are cheaper. However, if you are to do it frequently, you will most likely spend a lot. Thus, it is better if you will just buy the portable toilet.
• Compare and contrast options. Don’t close the deal with a company if you can still find other options out there. When you have sought for all possible options, then it is the best time for you to make your decision.
• Don’t settle for local companies and suppliers. You will be surprised to know that there are lots of other options online. As long as they will deliver the portable toilet at a low shipping fee and the overall cost is a lot lower compared with local choices, then go ahead and prefer online stores.
• Find a portable toilet that is low maintenance. These toilets have different designs depending on the manufacturer. You want to find a toilet that is easy to use and maintain. You don’t want to invest on something that will make you spend more eventually.
• Read the terms and conditions for renting portable toilets. You need to know what your responsibilities are especially in keeping the condition of the toilet upon return. Sometimes, the small prints you ignore might make you pay more.
If you follow these tips, you will most likely end up with the wisest investment. Go ahead and read more about portable toilets here.
When it comes to investing your money in any type of service, company, or product, you have to make sure that your hard-earned bucks won’t go to waste. Sometimes, it is hard to distinguish whether or not people are sincere in helping you out financially or not with everybody wanting to make money nowadays. That is why we have come up with the top three common investment frauds that might get you into hot water if you’re not careful:
1. The Inheritance Letter Fraud
You’re just calmly checking your e-mail when one comes up, whether in your inbox or spam folder. Curious about its content, with a catchy title about your six-digit inheritance from a wealthy relative, you open it and find yourself reading an alluring and well-written message from a person posing as a banker, tax agent, or a lawyer. In a nutshell, it seduces you to get the big bucks you inherited in exchange for confidential information, processing fees, and a whole lot of waiting for nothing.
2. Lottery and Sweepstakes Scam
Ever dreamed of making it big in the lottery and sweepstakes for years? Suddenly, a text, e-mail, or letter delivers the surprising news that you are now worth millions or billions. The catch is that you have to reply quickly or risk losing your so-called win. Like the inheritance letter fraud, the person from the other end asks for your bank and personal details, with a hefty fee on the side for so-called processing – which never happens, by the way.
3. Pyramid Schemes
Recruitment is not usually a bad thing, but in pyramid scheming it is. After you have shelled out money for the promise of earning big, you are then enticed to recruit other people to invest in a certain franchise or product so that you can get profit from their investment. However, this system spells trouble because it will eventually collapse when all the potential investors are exhausted, leaving you and your investment to fall on the wayside.
Should you fall into any of these traps and need professional and legal help, there are many legal agencies that you can invest in such as a Tulsa criminal attorney, who can defend your freedom and your future in money matters and beyond.
Before making that bold decision to take out a loan for your business infrastructure, you need to think about it very carefully. Yes, location and equipment are very essential and indispensable part of your business. However, you need to weigh the productivity and market of your business against the cost of the loan. Remember, you would be dealing with monthly amortization as well as interest of the loan.
Is your business ready for a loan?
Another thing that needs to be considered is the age of your business. Is it a start-up or already a stable one? Getting a loan when your business is still s start-up can prove to be detrimental and will turn out to cause more harm than good. That is because your financial liability will skyrocket when you have not yet made a good foothold in the market.
The decision would be easier to make if the business is already stable, one that is in operation for at least six months onwards. It would also help if you have a large business market or if your line of business is trendy. These would assure you that your business will have the capacity to generate income to pay the loan, cover operational expenses and still have enough for your profits.
For example, someone who is into the business process outsourcing industry for two years will likely take out a loan for new computers in times that a new client will come in. He can also use part of the loan to improve his network by upgrading to dark fibre with this provider. He can opt for a loan since he knows he has a stable business and his market is secure.
Try out alternative sources
On the other hand, if yours is a small, home-based business it would be best to look for alternative sources of funding. Although taking out a loan should not be discarded all together, you just have to look for other sources which can potentially help lower down the amount needed to be loaned. That way, you can be certain you and your small business would not be totally burdened with monthly payment and interests.
Loan financing for your business is not a bad thing. However, getting one prematurely, or when it is uncalled for can be dangerous for you and your business so be very wise in making that decision.
Today I realized I haven’t really explored the topic of the ideal office space size for a small general finance business. I have been offering suggestions to friends and acquaintances regarding office choices for their businesses but I haven’t really made my piece on how a startup financial company’s office should be like.
Admittedly, this topic is not my expertise. I’m more of the accounting and financial decision making guy. However, since this site is also about investing decisions, I think I have a few useful insights worth sharing. I can’t just avoid this topic since I may eventually have address this issue in my own business. You never know.
For this discussion, I would like to focus on the office for a new company. I remember discussing plans of running my own startup in Illinois with some friends several years ago. I can still recall some of my thoughts regarding business establishment and operations back then.
- Since a general finance company needs frequent interfacing with people, the office should be located in a populated area like the financial district in a downtown metro. It should be in some place with high pedestrian traffic or at least somewhere people can conveniently drop by. Location is a very important factor. Of course you will have to spend more for office spaces in prime areas but the advantages are worth considering. Chicago office spaces like the ones listed here, for example, are excellent locations and can be a good choice since more people mean more business for the company.
- The office does not have to be very wide but it should have a comfortable reception and/or waiting area. It’s always an advantage being able to leave a good impression to customers.
- Naturally, the office should also be highly secure. A general finance company is a no-brainer target for thieves and robbers. The walls should be made of durable concrete. The doors and windows should not easily fall to break-ins.
- The interiors of the office should be well designed and decorated. It’s important to establish a good business image. Everything in the office should be properly organized. Signs and informative posters should be posted strategically. The overall appeal of the office should be warm and accommodating.
I know these are rather broad pointers but I think they can serve as good guides for those who are still looking for or are already preparing the offices for their businesses.
New York’s Wall Street is the financial center of the United States. It is where the New York Stock Exchange and the Federal Reserve Bank is located, as well a host of bank headquarters. When one mentions Wall Street, money is the first thing that comes to mind. We think of the biggest banks and men and women in crisp power suits talking about billions and billions of dollars.
That is partly true. In essence, the trading and deals continue long after the stock exchange bell rings.
Here, the leading banks of the world conduct transactions that determine pretty much how the rest of the financial industry will behave. Every single day, reporters and news cameras closely watch Wall Street events and people hoping to be the first one to break the most important news of the day. Investment bankers and analysts are also top celebrities whenever the topic of investment and finance is discussed.
According to urban legend, Wall Street became the financial hub that we know it today because of a rule or requirement by the New York Stock Exchange. Supposedly, all brokerage firms were required to have offices in the area so clerks will not have a difficult time sending their paper copy of stock certificates. These bonds are sent out each week and having offices scattered around Manhattan would have made all the stock certificates impossible to deliver.
Wall Street is also home to thousands of employees, both locals and expatriates. The finance center serves as an important source of revenue not only for the residents of New York but also the government as well. Imagine how much taxes are collected from Wall Street alone each and every year! The high-rises in the area are also impressive and awe-inspiring.
If you’re interested to see what Wall Street is like, you can go to this website and plan US tours with your coworkers. Not only will you be able to tour around this famous financial landmark, you can also enjoy other great spots in New York such as Broadway and see the Statue of Liberty at Ellis Island. Extend your stay a few days and visit Disney World over at Florida for some fun.
In today’s world, many people have the need to work a second job in order to just make meets end. Unfortunately, even by doing such a thing, most people who have second jobs end up not being able to meet the demands of daily life. This shouldn’t be the case at all, and in this post, I’m going to talk about one part-time job that people would really do well to consider working: binary options trading (learn more here). Compared to most other kinds of part-time work, doing binary options trading a few hours a day often proves to be a lot more financially rewarding. And considering that it can be done from the comfort of one’s home, it’s easy to see why so many people end up doing it on the side for the long term.
There are many reasons why binary options trading proves to be both very popular and very profitable. One reason happens to be the fact that it is very easy to do. To do binary options trading, people just have to buy options from brokerages and then place trades on them. To place a trade on an option, people just have to choose between calling or putting on it. Making the correct choice always leads to one earning a fixed amount of money.
Of course, although it might seem very easy, there are still some considerations people need to take care of in order to make sure that they really make a lot of money off binary options trading. One of these considerations happens to be choosing the right brokerage. Unfortunately, there are still a lot of binary options brokerages out there that are illegal and work to scam their clients. Worse still, they actually continue to succeed in doing so.
The good news is that it’s rather easy to avoid them; all it takes is a little bit of research. There are many legitimate brokerages that operate in the country, but for this post, I’m only going to recommend one: Banc de Binary.
Banc de Binary is one of the best binary options brokerages in the world. Aside from being regulated by the CySec, it offers many amazing services that improve the binary options trading experience of people. These services include binary options trading signals, providing access to hundreds of underlying assets from many different markets, and an intuitive, comprehensive trading platform. Most people who work with Banc de Binary (click this link to know more about the brokerage) end up finding financial success.
Hopefully, this post of mine proves helpful to all of my readers. For tomorrow’s post, I’m going to talk about investing in stocks. Investing in stocks may seem like something that’s very hard to get into, but it isn’t. Once you go through some basic stuff on how to do it, you’re all set to make a profit off stocks. Of course, this isn’t to say that trading stocks is very easy to do. Even the smallest mistakes in the trading of stocks can result in one losing a lot of money. Still, so long as one does their best, they’ll do great trading stocks. Anyhow, do visit my site again tomorrow to know more about these things.