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GlobalBX Entrepreneur Business Articles - July 2009
We live in a world that is riddled with crime. You only have to pick up a newspaper or watch the first five seconds of the news to know that. However, as a result, there is a huge demand for all kinds of security and protection, and that demand comes from all walks of life and areas of society. This has given rise to the security and protection business and there are now thousands of companies worldwide that offer such services. As a matter of fact, those businesses are extremely profitable if you know how to run them effectively. Unfortunately, some individuals that set them up have no business experience and this may be why there are many security and protection businesses for sale, and that provides you with excellent investment opportunities!
Security And Protection Business Opportunities
As security and protection businesses for sale can be extremely profitable, the possibility is worth looking into and buying. You do not have to take on a long-term role in the company because it will run itself if you have the right people in place. However, before you buy a security and protection business, you need to assess the opportunities out there. Some companies only provide alarm and equipment services, whereas others offer the whole lot – security guards, bodyguards, alarms, equipment and so on. If you want a very real investment then either invest in the latter, or the former with a view to expansion as soon as possible. The former will be cheaper because it has fewer assets but the latter is less hassle overall.
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Posted by GlobalBX Staff on 07/20/09 at 10:07 AM in Small Business, Business Opportunities, Buying a Business | Permalink | Comments (0) | Trackback URL
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Tons of Business Opportunities
After making the decision that you want to buy a business, what’s your next step? There are literally thousands of small business opportunities out there for the prospective entrepreneur, and choosing the right one is probably the most important business decision you will ever make. Just look at some of the possibilities: home-based businesses, Internet businesses, franchise businesses, existing small businesses - and that’s only the tip of the iceberg. Once you have settled on the type of business, you must next choose an industry and then decide whether you wish to sell a product or a service, retail versus wholesale, and so on. It’s enough to make your head spin.
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Posted by GlobalBX Staff on 07/20/09 at 10:07 AM in Starting a Business, Franchises, Business Opportunities, Buying a Business | Permalink | Comments (0) | Trackback URL
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A Brief Explanation of Franchising
The concept of franchising goes back more than a hundred years—some argue that the idea came about in the Middle Ages, or even earlier—but what exactly is a franchise? I’m glad you asked! At its most basic, a franchise is the right for someone (the franchisee) to sell a product or service whose rights of ownership belong to another (the franchisor). Let’s say I start a home carpet cleaning service. I write a business plan, create a marketing campaign, invent a catchy name—how about “Steamo-Cleano”—and start doing business in my town. After a year or two, Steamo-Cleano is making me a nice living, and I decide the concept is successful enough to be duplicated elsewhere. You’re looking to go into business for yourself and come across information on my company. After considerable investigation, you decide to open a Steamo-Cleano operation in your town. Congratulations—you are now a franchisee. Simple, isn’t it?
Why Buy a Franchise?
As the owner of a franchise, you will enjoy many benefits. Here are some of the primary elements to consider:
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Posted by GlobalBX Staff on 07/20/09 at 10:07 AM in Starting a Business, Franchises, Business Opportunities, Buying a Business | Permalink | Comments (0) | Trackback URL
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Buying a Franchise Business
For anyone looking to own their own business, one of the best ways to do that involves buying a franchise. There are many reasons to explore the world of franchise businesses, including a reduced risk factor (franchises have a higher success rate than starting a business from scratch), mass buying power (hundreds or thousands of franchisees across the country buy the same inventory and supplies), and a proven operating system that has stood the test of time. When buying a franchise business, there are a number of factors to consider. See below for an explanation of some of the more important ones on this list.
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Posted by GlobalBX Staff on 07/20/09 at 10:07 AM in Starting a Business, Franchises, Business Opportunities, Buying a Business | Permalink | Comment (1) | Trackback URL
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Over the years, I’ve heard a million horror stories from business owners about their experiences with some of the “fly by night” business brokers out there. It’s always the same names and it always makes me wonder, “How did you get hooked up with these people? Why did you hire them?” I mean, I’ve seen some of their work and it’s TERRIBLE!
So, of course I feel bad for the business owner and I begin to question my ability to market my business brokerage services. If only I had been there first. If only these folks knew to call me or one of the other good credible brokers out there rather than the yahoo they ended up using. Yes, you heard me right; there are a lot of good credible business brokers out there. The problem is, there are a lot of bad, unqualified brokers out there as well. I’m in the business so it’s easy for me to tell the difference. But how can you, as the business owner, tell the difference?
Well, that’s a tough question to answer but I’ve been giving it some from thought and I’ve decided that the most important factors that separate the good business brokers from the bad are:
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Posted by scottm on 07/20/09 at 08:07 AM in Selling a Business, Business Brokerages, Buying a Business | Permalink | Comments (0) | Trackback URL
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“ He MySpaced me.” – Mary – He’s Just Not That Into You (2009)
Not long ago we read that back in the late 1800s when electricity was first demonstrated people fell to their knees in amazement. The individuals who demonstrated it probably felt omnipotent. No one questioned or challenged them. Today you’ve got to do something really spectacular to get more than a few lines in someone’s blog. Technology permeates everything today. It is an integral part of almost every movie. Even girlie girl movies (we go to keep peace in the household)! Tech toys have become integral parts of our homes/offices. They’re indispensible. Our kids feel lost if they don’t have them … all.
Staying Connected
You know:
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Posted by andym on 07/16/09 at 07:07 PM in Software & Technology, Sales & Marketing, Customer Service | Permalink | Comments (0) | Trackback URL
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The Basic Business For Sale Agreement
Whether you are buying a business or selling one, a certain number of legal papers are a necessary part of that transaction. One of the most important is the Business For Sale contract. While the exact form of this document may vary from state to state (or from country to country) depending upon various laws that govern the sale of a business, every Business For Sale agreement will have common provisions regardless of the jurisdiction in which it is filed. Much of the language may be considered “boilerplate,” which is a block of text that can be reused from one contract to the next. The purpose of a Business For Sale contract is to explain, in great detail, exactly what is being sold to the buyer, at what price, and under what terms.
Standard Contract Provisions
The Business For Sale agreement will begin with something called “recitals,” which include the names of the two parties involved in the transaction and explain the purpose of the document. It will go on to list a definition of terms, so that there is no misunderstanding by either side as to the meaning of such words as “stock,” “transfer date,” “warranties,” and so on. There may also be sections that address the following elements:
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Posted by GlobalBX Staff on 07/15/09 at 09:07 AM in Small Business, Selling a Business, Business Opportunities, Buying a Business | Permalink | Comments (0) | Trackback URL
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Financing Your Dream Business
Prospective business buyers are always looking for innovative ways to come up with the money to start a company or acquire an existing one. If you want to buy a business, your choices may be limited based upon what you own, what you owe, how good your credit rating is, and what sort of incentives the seller may be willing to offer. The smart business buyer will look carefully at every opportunity, selecting the one that offers the most “bang for the buck.” In some cases, the best option to finance your business purchase is right under your feet—if you’re standing in your living room, that is. The home equity loan is definitely worth exploring.
What is Home Equity?
According to a fairly reliable online resource, home equity is “the market value of a homeowner’s unencumbered interest in the … property.” In layman’s terms, it is the current value of your home minus what you owe on it. For example, if your house is worth $450,000 and your mortgage balance is $200,000, then your home equity is $250,000 (or 55.6 percent). Banks or similar lending institutions, such as credit unions, typically provide home equity loans.
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Posted by GlobalBX Staff on 07/15/09 at 09:07 AM in Starting a Business, Small Business, Business Finance, Buying a Business | Permalink | Comments (0) | Trackback URL
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