Tag Archives: business

What’s Your Plan After Achieving Business Success?

a business franchiseYou’ve done well than most businesses. After several years, perhaps decades, of developing your company, its products or services, your startup has blossomed and is now part of an elite group of successful businesses in Australia. While most entrepreneurs might think of selling the entire company and relocating to a retirement destination, you’re not quite ready to pack up and go.

The Perks of a Franchise

Instead of retiring from your business, you could consider developing a franchise model. It’s the ideal set up because you enable the continuity of your company without giving it up entirely. In addition, you open up a new stream of revenue as you give aspiring entrepreneurs a chance to become part of your business. The right franchise model allows you to expand your company without resorting to loans.

Aside from expansion, the franchise model allows you to find the right people to run the business. You replace a manager with the franchisee, who should have more motivation than an employee. A franchisee would have more investment in improving your business; he or she can’t afford not to care.

Access to Expertise

Although developing your business into a franchise may seem daunting, you’ll have access to experts, from finance business brokers to franchise brokers. You will need the guidance and experience of franchise professionals to ensure a smooth transition of your business. Whether it’s in the area of franchise finance or franchise law, the right people can make the experience better—profitable for all parties.

A professional broker can also screen the franchise candidates. It’s critical that you choose the right franchisees to represent your company and your brand. Remember, you’ve built your business over several years and worked hard to achieve the reputation it has earned.

You want to make sure that the franchisee will not only represent your company well, but also take your business to new markets. With the right plan and sufficient access to expertise, you could successfully franchise your business, and someday, you may decide to exit and retire comfortably.

3 Ways to Avoid Fire Hazards in Your Oil Business

Oil pump in an oil fieldWorkers in an oil business must be extra careful because of the increased risks of fires. The good news is that by implementing a few tactics, you can keep every member of your team safe all year round.

Here are three easy ways to do so:

Invest in quality fuel tanks

Whilst buying your aboveground, underground or mobile diesel tanks, you’ll be surprised by the wide variety that is available in the market. One thing you need to keep in mind is that not all fuel tanks are created equal. That’s why you must know the safety standards that a fuel tank must meet before you buy one. Poor quality tanks deteriorate quickly, causing spills that are fire hazards.

Assess your fire safety preparedness

Many people do not know that they are not well-prepared for fire incidents until it is too late. Take the time to assess the entire workplace and check for any vulnerabilities. Focus on areas that are at higher risk of explosions and make sure there are fire protection equipment in these areas. The most useful pieces of equipment include alarm systems, fire extinguishers and sprinkler systems.

Teach your team how to respond to emergencies

Installing fire safety equipment is one thing; making sure everyone knows how to operate them is another. Your fire preparedness plan must include a short drill on how to evacuate the workplace and use fire extinguishers in case a fire breaks out.

Your ability to control and eliminate fire hazards is important in keeping your employees and business safe. It does require a bit of investment, but given the destruction that a fire can cause, the safe of your employees and assets is worth the cost.

How to Teach Your Kids to Keep the Bathroom Clean

modern bathroom interiorDo you spend a lot of time cleaning your house, not to mention the bathroom, and keeping things in order? With children at home, it’s so easy to see dirty clothes on the floor or hear someone yell for his or her towel or a roll of tissue. What can you do? Here are some simple solutions:

Install cabinets in the bathroom.

This is the solution for your bathroom supplies. You can get some RTA bathroom cabinets where you can put all cleaning materials, including shampoos, soaps, tissue papers, and trash bags. You can also store some towels in it, so you don’t hear the children screaming for their forgotten towels every time. Having an area where to store things can teach kids the value of putting items in their proper places.

Have a hamper of dirty clothes in the bathroom.

If you have a spacious bathroom, it would be best to keep a hamper of dirty clothes in there. This way, children (and adults), who have the habit of leaving their dirty clothes inside can easily find where to put them. If your bathroom is not large enough, you can strategically position the hamper just outside the door. This can be a reminder for anyone exiting the bathroom to check if they have left some clothes in the bathroom.

Involve your kids in bathroom clean-up days.

As children get older, they can help with the household chores. Introducing them on how to keep the bathroom spic-and-span can be included in the first and basic lessons about cleanliness. This way, should they go away to a boarding school or college, you do not have to worry about them having a dirty room.

With the right and positive encouragement, children who are introduced early to the value of cleanliness will not forget it even when they grow older.

2 Considerations When Choosing a Supplier for your Construction Project

Plastic pipes stacked in a factory or warehouse yard for use in plumbing or sewage installations on a construction siteYou will know the wrong choice of construction supplies can compromise the integrity of the structures you are building quite quickly and easily. This, and considering that you need to complete your building project within the time frame that you had set, will help you appreciate a great supplier.

Your choice of supplier will affect how much and fast you hit the particular milestones towards completing the project. With that in mind, here is what you should highly consider when selecting your next supplier of construction products, according to Timberfix.

Fast and Direct Deliveries

Typically, it is how soon you get construction products that will determine when you will complete your project. And although you can switch suppliers anytime, the inconveniences that come with that will have you wishing that you would have first considered whether the supplier keeps their word on making timely deliveries. It is advisable that you also check whether the supplier can deliver directly to your site.

Area of Operation

Check how far the supplier has reached. It will give you a clear indication of how dependable their services are in your area. If you live in the New South Wales, you will want to confirm that the supplier can and has, in the past, supplied to almost every region there from Sydney to the Blue Mountains.

Also, inquire whether they have stores in these different areas or they function from a single warehouse. However, whichever the case here, if they can make to deliver the construction products you need within the time you stipulate, that is enough basis for using their services.

Altogether, confirm from other buyers whether the supplier handled their orders for construction supplies professionally and if they maintained healthy communication before, during and after requesting construction products delivery. These reviews will go a long way to determining the level of reputation of the supplier with whom you plan to work together.

Top Qualities Your Packaging Supplier Should Possess

A stack of packaging boxes

Having a reliable packaging supplier can make a significant impact on your product launch’s overall success and the way customers perceive your company.

After all, it is all about presentation when it comes to manufacturing and retail, and you would not want a poorly packaged product displayed on the shelves or in front of your clients. The good news is that there are ways to find out whether a packaging company is up to the task.

We round up some characteristics you need to look for.

Outstanding Reputation

This is a good indication that the packaging company takes care of their clients and does their job well. Industry leader Packline Solutions recommends that you look out for how long the supplier has been in the business and which companies they have worked with already.

It is even ideal that you ask their current or former clients about their experience and consider their response.

Commitment to Innovation

Change is constant in any industry, which is why you should choose one that knows how to keep up with the times. Whether it is their customisation process, machinery, or ink technology, they should be open to more innovative ways of doing things to ensure that they provide their customers with better services.

This way, your own company is not left behind with the latest technology as well.

Excellent Customer Care

Providing only quality products with poor customer service is not enough to maintain a good business relationship. The packaging company should address your concerns throughout the entire process and make sure that they follow through on their promises.

They should maintain an open line, so you can easily communicate with them. It is even better if they designate an agent who will handle your account, so you will not have to explain your business every time you get in touch with them.

The packaging field may seem complex, but knowing which qualities to look for in a supplier will help you make better decisions. Investigate these points, and you are sure to find a partner that will match your packaging needs.

Satisfaction Guaranteed: Price Matching with Your Competitors

price watching and analytics
Consumers will always worry about prices — they want to get the best possible price for the product they want to purchase. After all, no one wants to be overcharged or be swindled out of their money.

This is why companies like pricemanager.com allow their clients to easily compare prices with their competitors. This way, you can monitor what your competitors are doing and find out how much customers are actually willing to pay for your product.

Competitive Pricing

It is important that your product offers competitive pricing — though you may initially earn more after selling a particular item, you will eventually be met with competition should other stores sell it for less. On top of that, your company may acquire a reputation for being overpriced, which is something you do not want.

Price matching is a great way to attract customers because it assures them they’re getting a good deal. Consumers today are more frugal, and they have the advantage of comparing prices online with just a few clicks on their phone.

Beat Showrooming

One of the problems that retailers are experiencing is a phenomenon called “showrooming.” This practice is when clients visit a store to inspect a product themselves, before deciding to order it online instead, often from an e-commerce site. This can make it difficult for retailers to keep their customers and make a sale.

Fortunately, having a strong price match policy will help you compete with online retailers directly. Many companies are now matching their prices not only to physical stores but to online stores as well. By lowering the price of that same product, they can convince the customer to buy from them instead.

Have a strong price match policy in place and watch how it boosts your conversions.

Franchising: A Better Option for Starting Your Own Business.

FranchiseStarting a small business can be a difficult endeavour for most. You would have to write your own business plan, design the layout of your store or shop, come up with products to sell, and the list goes on. Fortunately, there is another option available and that is to franchise. There are literally hundreds (if not thousands) of business franchises to choose from.

An example of a good franchising business has got to be burgers. Aside from it being delicious, it can provide anyone with a hearty and satisfying meal or snack. Plus, everybody loves a good burger. So if you’re really interested, why not look into burger franchise opportunities.

But before taking the plunge, let’s take a look at some of the pros and cons.

Reasons why you should buy a franchise

Let’s take a look at some of the reasons why you should invest in a franchise.

  • Good company franchises have already established a reputation, good management and proven work practice which will benefit you a lot, explains Burger Urge. You also automatically get access to national advertising.
  • More often than not, franchisors provide the training needed to operate their business model. You also get ongoing support. Furthermore, you won’t be alone in building and running your business. Hence, even if you do not have much experience in running a business, your success rate is still significantly high.
  • Most franchises have a staff to help you find the best location for your business. They can also provide you with assistance in the layout and design of your business.
  • Franchising is similar to owning an independent small business but with a major advantage. You get the support of a big business network.

Drawbacks of buying a franchise

Although buying a franchise can seem the easiest way to owning your a business, there are still some downsides to it.

  • Being in a franchise means you will have to follow everything on the agreement which will inhibit your creativity.
  • Restrictions may be imposed on you such as where you can operate, your suppliers and the products you sell.
  • Bad customer service or performance by other franchisees can seriously hurt your franchise’s reputation.

Ultimately, franchising does not mean instant success. You should still employ the same principles of good management such as hard work, time management, informed decision-making and good customer service.

Going Online and Back Again: Why Online and Offline is the Way to Do Business

Business Owner in AucklandThere was a time not too long ago when every business owner was scrambling to build a web presence. Actually, that’s still happening now. And for good reason. Any business that ignores the need to have a website is throwing away opportunities to make more profits.

Going online

Not only do you need a professional website, but you also need to get busy building your profile on at least one of the most popular social networks. You choose the social network channel where most of your target customers are also present, and you build a following there.

Getting listed

You also need business listings on Yelp, Angie’s List, Facebook, Google, Bing, Yahoo! and others. Listings are very important for ranking on search results. Especially now that Google has updated with an algorithm called Possum by the SEO community, the search engine giant can recognise different listings of the same business, and the more listings you have the heavier their weight.

Going… offline?

An expert from Signsnstuff.co.nz reminds that it’s not all about going online, however. Pundits are now deciding whether the new trend is the reverse, as online businesses are at this moment scrambling to build their own brick-and-mortar stores. They’re choosing a space to lease, hiring industrial screen printing companies to do their signage and billboards, giving out business cards with more than just a web address printed on them, the works. These are offline activities that business owners almost turned their backs on just a few years ago. Now, the brick-and-mortar is once again the darling of the business sector.

This proves a few things. First, you can’t survive anymore unless you have a presence online. Second, people love choices and online presence and listings give them more choices, thus also giving businesses a fair chance at getting chosen. And third, people still like actual contact. You can buy your Nikes online, but it would just be nice to try a few pairs first, see how they feel on your feet, how they look with your new jogger jeans and so on.

With all these recent developments (and developments seem to be happening at a dizzying pace), you’d best keep up. Whether you’re a purely offline or an entirely online business, now you know there are things to be done to give your customers the best of both worlds.

3 Things That Will Get Your Business Loan Request Disapproved

In any business capital is very important. It is the only way that the business can grow. There are many avenues of getting your capital one of them is applying for loans. Below are some things that will block you from getting the loan.

1. Lacking a Strategy

Loan applicationLacking a working strategy is the same as lacking a plan. Without a plan you do not know the way forward for your business. This is a red flag to anyone, applying for a business loan. Chances are that the money you get from the loan will be misused or the business will collapse. This is a risk on the part of the creditor and they will definitely deny you the loan. This also applies when you are applying for personal loan in SG.

2. Questionable Character

Even though the money will not go directly to the person, the lenders will surely look at his character. The owner will determine how well the business is run. The lender will be looking for someone who will pay them back within the shortest time. So before you can borrow that business loan make sure you have a clean past.

3. Being Disorganized

This simply means not having all the papers and documents that you will need for the application at hand when applying. Some of the documentation that you might need includes tax returns. To ensure that you are prepared when doing the application, do some research on the documentation needed. This is the only way to make sure you are prepared on that day. You can also make a checklist of the documentation needed so you do not forget vital documents when applying.

To get your loan approved fast, make sure you avoid the pitfalls stated above.

Why Networking is Important for Small Business Owners

Business OwnerNetworking is critical for any kind of business. The way you build relationships and establish networks will be one of the key factors that will dictate the development of your start-up business. Not only is it significant for your business, but networking is also essential for your personal growth as a novice entrepreneur. Below are the other points that display the importance of networking for small business owners.

  1. It Expands Your Business Knowledge

When you network, you meet different kinds of business people. Their knowledge and ideas can help you expand your know-how about entrepreneurship. This knowledge may prevent you from committing your associates’ previous mistakes or it may give you another perspective on things.

  1. It Improves Your Confidence

Even if you are still starting to develop your business, it is important that your customers and workers see an appropriate level of confidence in you. By continually talking with new friends and associates, you learn to talk to people effectively and influence them with your leadership.

  1. It Builds Extensive Connections

BNI Australia notes that when networking with a group of associates, you are not just building connection with them, but you are also establishing connections with their group of networks. In this way, you gain extensive connections that might be useful in your business development.

  1. It Raises Your Business Profile

Your regular attendance to social events and business gatherings can help you build a reputable image.  Many people will recognize you because of your high business profile, thus, you will be more likely to get referrals and business leads.

The process of building a new and small business is not easy. But if you master proper networking, you gain a powerful tool that could bring leads and referrals to boost your small business.