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How to Get a High ROI on Your Food Franchise

by Admin - on Nov 6th 2018 - Comments Off on How to Get a High ROI on Your Food Franchise

Woman dipping the fries in ketchupSome of the most common franchises in the world are in the food and retail industries. These include sandwich shops, burger joints, noodle houses and convenience stores. These are turnkey solutions, where a franchisee spends on building, supplies and equipment.

An entrepreneur starting a sandwich shop business is better off as a franchisee. In return, the franchiser would provide the training, knowledge and brand promotions.

Brand Name and Expectations

A restaurant franchise is a turnkey operation, where the only thing needed to do is to set up the physical restaurant. All the operational details like management, training, KPIs and procedures are in manuals. In most instances, all the signage, designs, and advertising materials are also included. The franchiser provides the supplies, which guarantees uniform quality across the chain.

The centralised purchasing and processing system helps the franchisee with lower cost materials. Sales are also helped along by name recall for large famous brands. People would have expectations about the taste and quality consistent with the brand’s reputation.

Management and Financials

The franchiser helps a lot in making sure that its franchisee makes a good financial return. The franchising agreement usually includes provisions ensuring compliance with practices and procedures. There’s strict implementation of these best practices. This helps the franchisee to overcome steep learning curves.

This method also helps avoid errors in management and procedures. This includes the choice of location, as well as the floor plan and seating. Set procedures result in standard KPIs followed by all franchisees. Investors want a good return on their investment (ROI). A high ROI is achieved with strict compliance with company standards.

Food franchises have a low failure rate due to their adherence to standard company procedures and processes. Compliance with company standards helps ensure success and a good ROI, making the franchise an even better looking investment opportunity.

Does Perth Need a New Wastewater Treatment Facility?

by Admin - on Oct 24th 2018 - Comments Off on Does Perth Need a New Wastewater Treatment Facility?

wastewater treatment plantA lot of people in Western Australia listed wastewater treatment among their choices for boosting Perth’s drinking water sources, according to a survey.

Some of the best ways for this solution include biological treatment of wastewater. Many water companies such as Waterform have used modern technology to achieve this purpose, and doing so in Perth has become more necessary because of the high level of consumption.

Preferred Sources

Desalination ranked as the top choice for nearly half of the respondents from Western Australian households, based on the survey. It gathered data from 7,000 people for 18 months to come up with the conclusion. While desalinated ocean water is the most popular for them, it is important to take note that such projects require a hefty investment.

Unlike wastewater treatment, the high cost of building desalination plants already starts with the construction process. Maintenance also incurs significant expenses even if the facility remains inactive. Despite the positive feedback on sustainable solutions, the city’s officials still advised the public to consume less water.

High Consumption

Water Corporation’s recent figures show that Perth’s water consumption has reached 70.8 billion litres. The state has exceeded its projected water use in the last four years, which likely prompted officials to remind residents about conserving water.

The statistics only covered users under the state’s water supply scheme. Thus, the actual consumption could be much bigger. Despite this discovery, officials said that further regulations remain unlikely at this point. This suggested a peak scenario on the impact of restrictions for water use in the state.

Wastewater treatment and other recycling methods should be considered before planning alternatives that are more expensive. Even if the common theme revolves around increasing supply, it should be cost-efficient.

Tips for Moving Heavy Equipment

by Admin - on Oct 20th 2018 - Comments Off on Tips for Moving Heavy Equipment

a man in front of a transport trailerTransporting heavy equipment is not easy. Tractors, bulldozers, and other farm equipment are not ideal for long distances. Traditional tractor treads were not meant to run over 1,500 km. Tractor treads for loose earth are not even supposed to run on highways. Getting a tractor from one point to another requires a transporter trailer. Typically, these trailers have ramps and a small flatbed. Also, the tractor needs to be strapped so that it does not move.

Safety First

Transporting heavy equipment is easy with a low loader trailer. It’s like carrying any other cargo or container. Depending on the weight of the heavy equipment, the semi-trailer can reach the speed limit. Although with a full load, the semi needs to take extra care on the highway and run slower than what the traffic allows.

There are safety considerations when transporting heavy equipment. These include verifying that the transport does not exceed gross weight specifications. Here are ten essential reminders:

1. Follow the loading guidelines specific to the machinery.

2. Observe the proper balance of the equipment on the loader transport.

3. Ensure the proper tire pressure for the equipment.

4. Follow proper lighting and signage.

5. Remove any excess dirt that might fall on the highway.

6. Using chain tie-downs is recommended.

7. Use wedges, chocks, and cradles to prevent the wheels from moving.

8. Movable parts should be lowered to the loader bed.

9. Ensure that the vehicle weight does not exceed highway height limits.

10. Follow tie-down safety instructions. These should be as close to the front or rear of the equipment.

Transporting heavy equipment is a procedure with many safety considerations. Ensure that your permits are approved before moving large equipment.

What Are the Best Franchises to Buy in the U.S.?

by Admin - on Oct 9th 2018 - Comments Off on What Are the Best Franchises to Buy in the U.S.?

franchise business concept with people working on the sideAn analysis ranked Freddy's Frozen Custard & Steakburgers as the best franchise for 2018 under the investment category of more than $500,000. Those who want to invest below $150,000 for a franchise should consider opening a Right At Home business. On the other hand, the best mid-tier investment between $150,000 and $500,000 is a Sport Clips franchise, according to the analysis.

Historical Data

The analysis based its rankings on historical data of 3,300 companies between 2012 and 2016. It then shortened the list to 60 brands based on five benchmarks comprising franchisor support and stability, system demand and sustainability, and value for investment. Most aspiring franchisees will need professional advice before they embark on a new venture. If you are a business broker, you can take advantage of the growing demand for buying businesses.

Return on Investment

If you have been planning to buy a Freddy's franchise, the midpoint initial investment costs more than $1.28 million in the analysis’ time frame. The five-year growth rate, however, was 31.3% during the period. Those who want a lower investment with a higher return should consider buying a Firehouse Subs franchise, which yielded 16.50% from a midpoint initial investment of around $585,000.

Most people who are new to the franchising world aren’t too keen on spending even more than $100,000. However, a low initial investment doesn’t always mean a small rate of return. Take the Soccer Shots franchise as an example. The median investment for this business was more than $41,000, yet it achieved an 11.1% growth over a five-year period.

Before franchisees choose their preferred brand, they most likely look for an expert opinion on which companies offer the best in terms of investment returns among other things. If you’re planning to become a business advisor, choose a brokerage firm that could offer as many revenue streams as possible from different services.

Who Needs that Mattress You’re Trying to Sell?

by Admin - on Oct 8th 2018 - Comments Off on Who Needs that Mattress You’re Trying to Sell?

Selling mattresses to a market that doesn't sleepThe mattress industry is booming, and you want a slice of the profit pie. There’s nothing wrong with that. You don’t even have to develop your very own mattress if you want to go the franchising route. This is ideal because you will offer a product that has already been tried and tested.

The only problem is, how do you sell a mattress in a market full of customers that don’t sleep? Look at these advertising angles:

For Those with a Bad Back

Because of sports, bad lifestyle choices, or even genetics, a person might have a bad back. When that is the case, they find it hard to look for a comfortable mattress that will not put too much pressure on their back while they are sleeping. The mattress store franchise can have a special section for firmer foams that address this issue. Offer them a suitable mattress, and you might even get them to recommend your product to fellow sufferers.

For Those Sharing a Bed with the Little Ones

Adults sharing a bed with their children have a dilemma: they want the bed to be comfortable for them, but they also want it to be big enough to accommodate more people. That means a higher cost if they don’t choose wisely. Help them with their problem by showing them your biggest mattresses that are within their budget. When they enter the store, they will be drawn to size first and price second. Give them the best of both worlds, and you’ll be a life-saver.

For Those Badly Needing Self-care

One of the reasons why mattress sales are at an all-time high is that self-care is also at an all-time high. While activities vary for each person, many agree that the simplest form of caring for oneself is through spending more time in bed. Also, the quality of sleep matters, too. Your product can be the one to help them achieve restful sleep.

Everyone needs a bed, but marketing to the general population is harder than targeting a specific demographic. Thus, choose the people to sell your product to and expand from there.

Why You Should Start a Coworking Space Business

by Admin - on Oct 5th 2018 - Comments Off on Why You Should Start a Coworking Space Business

Busy people working at a coworking spaceWith the rise of startups and tech-based businesses, there has been an influx in the different types of business models. This is especially true when it comes to office leasing and workspace management. If you are planning to start a business in this industry, you can consider going into the territory of the coworking business.

There are many reasons why coworking spaces are on the rise these days—and one of them is practicality. If you are planning to franchise a coworking business, you should consider the reasons why it is a good call.

Startups Are More Prevalent than Ever

Australia has many startups, and the number has doubled over the years. Startups are businesses that are designed to grow fast. While they are waiting for funding, startup bosses are looking for ways to minimise costs, especially when it comes to office spaces. Coworking spaces are their best bets, as they can work comfortably without having to shell out big money.

They Are Low-maintenance

The franchise might make you spend some money, but coworking spaces are relatively low-maintenance. All you need to do to keep the space appealing is to keep it clean. Also, make sure that the coffee maker is working.

You Can Customise Your Offers

What is good about a coworking space business is that you can customise the offers depending on your clientele. For one, if you have a client who holds regular meetings, you can offer the conference room at an added cost. If their business is already growing, you can provide the biggest room in the office if they are already bringing in more pieces of equipment.

These are just some things to bear in mind if you want to start a coworking space business. Find a reliable partner to make your plans feasible.

End-of-the-Year Checklist for Your Franchise Business

by Admin - on Oct 5th 2018 - Comments Off on End-of-the-Year Checklist for Your Franchise Business

Business team in a meetingThe year is wrapping up, and you’re right to focus on the holiday sales and all the profit it could add to your franchise’s bottom line. However, you also need to pay attention to specific tasks that you ideally need to tackle head on so you could start the New Year right. Put these tasks on your must-dos right now so you could welcome the New Year with ease.

Reevaluate Last Year’s Goals

Get your business plan as well as other relevant documents, including your action plan from last year so that you could review your previous goals. Find out if you accomplished your goals from last year—if yes, how, and if not, figure out why.

After answering this question, you could then write your goals for the coming year, keeping in mind what you did right as well as what you did wrong or didn’t do and how you could address your shortcomings next year, suggests a franchise consultant from Accurate Franchising Inc.

Clean Up Your Books

You probably don’t do your accounting, but even if you don’t, it’s a good idea to review last year’s expenses. Take some time to categorize your expenses properly, so you know where your money is being spent.

If possible, run a profit and loss (P&L) statement to check for any discrepancies that you could address prior to handing it to your accountant. This would likewise give you a much better sense of this year’s finances—do you need to lower your spending or increase the budget for specific areas next year? Which ones, and why?

Update Your Marketing Strategy

Although you’ll probably continue doing the same marketing stuff especially if it’s working for you, it’s best that you reevaluate your existing marketing strategy so you could make changes if necessary. Remember, technology changes at a rapid pace so you have to make certain that your strategy involves tactics that would resonate to current and prospective customers.

As cliché as this might sound—businesses that don’t plan are those that plan to fail—it’s 100% true. Addressing the above tasks before December even rolls around could help ensure the success of your franchise in the coming year.

4 Questions to Expect from Your Franchisor

by Admin - on Oct 4th 2018 - Comments Off on 4 Questions to Expect from Your Franchisor

Franchisor taking care of her businessSo you’ve seen a franchise opportunity that you like and made an inquiry about it. As you wait for the franchisor to give you a call, there are a few questions you need to prepare for. These questions are meant to find out whether you and your franchisor are a perfect fit before the both of you make any commitment.

What makes you interested in a franchise?

As a franchisee, you’ll be running a small outlet that operates under a much larger, complex structure. It’s important to understand the concept of franchising, as well as what you perceive to be its benefits. With this knowledge, it becomes easier for you and your franchisor to start on the right footing.

Why did you settle on this industry?

As you’ve probably found out during your research, there are lots of franchise opportunities in different sectors. Your franchisor will be interested in knowing why you’ve decided to choose a Transworld business advisors franchise, for instance. Is it because you have the passion for it? Or is your decision based on growth potential? You need to demonstrate the success drivers of the industry.

How much business experience do you possess?

Your franchisor will certainly provide some training to set you up for success in your new business. However, it’s important to some that you have industry-relevant experience. Having some sales and customer service experience, for instance, is a plus.

Where do you plan to open the business?

Many franchisors have site opportunities for potential franchisees, while some expect you to locate a site you think is viable. If you have a site in mind, expect that your franchisor will evaluate it keenly.

The conversation you have with a franchisor forms the basis of a potential long-term relationship. The best thing to do is to answer any questions as honestly and transparently as possible.

Biz Buzz: 3 Signs of a Good Business Opportunity

by Admin - on Oct 2nd 2018 - Comments Off on Biz Buzz: 3 Signs of a Good Business Opportunity

Businessman with team behind himThe business world never runs out of opportunities. What could quickly run out though are your resources when you land on a bad business idea. Some opportunities might seem like the next big thing but prove a flop months after their launch. Others, meanwhile, are low-key, growing quietly, establishing a solid business empire. So, how do you weed out the bad and get the good? Here are the signs you should look for in a business opportunity:

1. Consumer Need

Basic business principle entails you should be answering a human need. Start identifying problems in the industry, and look into the profile and lifestyle of your target audience. Trends in your market’s preferences could dictate the “next big thing.”

For example, observe how the shared office industry evolved into what it is today. It addresses the problem of remote employees, freelancers, and start-ups, appealing to varied work routines and keeping up with changes in these routines. A lot of aspiring entrepreneurs are flocking to office franchise businesses to take advantage of the growing consumer potential, notes Venture X. The bottom line is the business opportunity you’re looking at should address a gap in the market.

2. Business Plan

The best business opportunities are those that have a clear, concrete plan. A business plan will give you more insight as to how the company would be operationalized. That information helps in weighing if it would become profitable or not.

This is another reason people choose to become a franchisee when they start a business. A franchise comes with a clear, solid, results-oriented plan. There’s considerably less hassle and financial risks with a franchise because you have a roadmap to follow.

3. Niche

As you know, running a successful business means dealing with competitors strategically. A good business opportunity is one that capitalizes on a niche. It limits the number of your competitors, letting you can enjoy a big market share, if not all. Also, it enhances your image on your audience, making you known for unique products or services.

You’ll constantly encounter business opportunities in your entrepreneurial journey. Know how to filter through them and get the best of the best.

Horse Care: How to Keep Them Healthy

by Admin - on Sep 18th 2018 - Comments Off on Horse Care: How to Keep Them Healthy

photo of a woman cleaning and grooming a brown horseHandling and treating your horse well every day reduce its chances of falling sick while keeping it healthy and happy. To achieve this, you need a wellness plan that you can design together with your horse’s veterinarian. Here are four regular undertakings that you can include in the program:

Quality Food

A healthy diet is crucial for the well-being of your horse. One of the most fundamental horse feeds is forage. Check out certified distributors to get clean forage and high-quality horse feed in NZ. Also, evaluate all feeds and supplements before you get them for your horse. You can ask your veterinarian for recommendations.

Regular Veterinary Check-ups

Recommended once every year, horse check-ups help to detect and solve unseen problems on time. During the exam, the vet will examine your horse’s dental condition, lungs, skin, and the coat, among other factors affecting its health. Following the results of the exam, the vet will advise accordingly.

Vaccination

Equine practitioners recommend annual horse vaccination. This helps keep the horse healthy in the event of an outbreak. The most recommended vaccines include but are not limited to rabies, tetanus and equine encephalomyelitis. However, the best vaccine for your horse can be determined by the vet depending on your location, the horse’s health records and its exposure to other animals.

Deworming

Internal parasites can negatively impact your horse’s overall health. Deworming is now easy to do, given the affordable deworming products that are conveniently available in feed stores and online. If you are not up to the task, let your veterinarian handle it.

A healthy horse starts with you. Developing a wellness plan and maintaining it will go a long way in keeping your horse healthy.