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How Do I Use Benchmarking in My Business Plan?

Benchmarking based on available information about similar companies in other markets can be a useful way to add granularity and credibility to your business plan. Depending on how much information... (more)

Is it Risky to Buy Into a Small Franchise?

There is risk associated with any business startup so the obvious answer to your question is yes. You're looking at a franchise system that has only one operating unit and wondering if that is... (more)

Should a Startup Hand Over Control to an Investor?

It sounds as though you're being asked to sell a controlling interest in your business for $1,000. Is that all you're worth? That sounds like a no-brainer. I wouldn't give away a 55 percent... (more)

Can I Start a Business with No Startup Capital?

Of course you can start some kinds of businesses with no capital. Service businesses tend to need a lot less capital than product businesses. Professional service businesses such as graphic arts,... (more)

Should I Open a Pizza Franchise Abroad?

International franchising can be a huge growth opportunity for American companies. But you need to be careful, especially with food concepts. Some food products translate well into new markets but... (more)

What Are the Best Titles for Company Founders?

A limited liability company (LLC) is a flexible form of business entity that blends elements of partnership and corporate structures. Because you're not bound to the usual type of corporate... (more)

What is a Good Resource for Determining Employee Pay Scales?

Compensation information for professionals who specialize in this field is very expensive and is produced by major companies like Aon Hewitt, (more)

How Can I Know If I'd Be a Good Franchisee?

Your question shows that you are focused on exactly the right thing to make your search a success. Anytime you're investigating franchise businesses, you want to be looking at the factors that will... (more)

How Do I Sell My Product to a Retail Store?

Certification or license requirements vary by region, so you'll have to check with your local and state regulations offices to find out. In the meantime, I recommend that you visit a local hardware... (more)

How Do I Decide Which Business Idea I Should Pursue?

It's a tough call, but my advice it to just pick one and get started. You simply won't know what works or what doesn't until you start working with your ideas and seeing if they are useful and of... (more)

Should I Open a Lawn Care Business?

Actually, any economic downturn is a great time to think about starting a business, because everything is less expensive and customers are looking for better deals and new suppliers. However, if... (more)

Can Vets Get a Special Deal on Franchises?

Being a veteran is a huge advantage if you're thinking of getting into the franchise business. Franchise companies have learned that veterans can make excellent franchisees. They are typically... (more)

Do Part-Time Franchise Opportunities Exist?

You're looking for the best of both worlds -- to keep the security and safety of your current job while building a business of your own at the same time. The answer is, yes, it is possible to do... (more)

Do You Need a College Degree to be an Entrepreneur?

A number of people might argue that a college education isn't necessary, but I think it is important to get a college degree before becoming an entrepreneur. The education you receive may or may... (more)

How Can I Find Market Information for My Business Plan?

First remember that you'll need information to help you make the right business decisions, not information for information's sake. The website at cens (more)

How Many VC Firms Should a Startup Pitch?

Your first objective should be to make sure you have an investment opportunity that will be of interest to venture capital firms. If your startup isn't scalable, defensible, have high growth... (more)

How Can I Dissolve an S Corporation?

Your rights as a minority shareholder depend on whether you have a written shareholders agreement and, if not, the default provisions contained in your state corporate law. Sometimes,... (more)

How Can I Find Out Whether a Business Name Is Already Taken?

There are a few places that you'll want to look to see if anyone else is using the same company name. First, if you are filing "Beauty Room" as a DBA -- short for "doing business... (more)

Can I Buy Into a Franchise with Little Experience and Capital?

The first step for you is to take every opportunity to increase both your capital and your experience. It's not easy to save money while in college but it is possible. Work as you have the... (more)

How Can I Determine the Success Rate for a Franchise?

You're focused on an important component of investigating any franchise -- the success rate. Assuming that by "success" you mean how many units don't fail, this is easy to determine. In... (more)
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