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Most Recent Questions

Question added to topic Building a WebsiteAugust 14, 2007

How long should it take for a web consulting company to create your website?

The time it takes to develop a website is totally dependent upon what kinds of things you want your website to do.� A complex site can take a long time but, I visited your site and, from... (more)
Question added to topic Starting a BusinessAugust 14, 2007

Are there any government grants that would help me with the startup costs for a franchise?

It is always a challenge to find a franchise you want to pursue and then realize that you don't have the financial resources necessary to fund the operation, but that's often the reality of... (more)
Question added to topic FranchisesAugust 14, 2007

Is the cost of opening a franchise business the same as opening your own retail store?

The cost of opening a franchise may vary from the cost of opening an independent retail store and it might be more or less.  The bad news is that you're going to have to pay fees in a... (more)
Question added to topic FranchisesAugust 14, 2007

Should my spouse and I start a franchise business in order to fund our retirement?

Great question!  The answer is it depends - on your tolerance for risk, your income needs from the business, and most importantly your life plans for your retirement years.  You mentioned a cruise... (more)
Question added to topic FranchisesAugust 14, 2007

What questions should I ask a franchisee before I go into business with him?

When you visit with existing franchisees as part of your investigation and research process, there are a host of questions you should ask in addition to "how much money can I make".  Training,... (more)
Question added to topic FranchisesAugust 14, 2007

How do I evaluate a franchise's chances of financial success?

This is the 64 dollar question for all prospective franchisees but you have a huge advantage since you're looking at the purchase of an existing franchise unit with an established track... (more)
Question added to topic FranchisesAugust 14, 2007

What are the major hurdles one must overcome when starting a franchise?

The most significant hurdle in starting a franchise business that you want to be successful is selecting an opportunity that matches up well with the resources you bring to the table and... (more)
Question added to topic FranchisesAugust 14, 2007

What should I pay to own an existing fast food frachise?

When buying an existing business, it is typical to pay a multiple of the cash flow being produced by the business as the purchase price.  You can refer to a number of articles I've written... (more)
Question added to topic FranchisesAugust 14, 2007

How do I draft a letter to a potenial franchise requesting a license or a contract?

Assuming you've completed all your research on the opportunity (refer to the expert articles at Entrepreneur.com if unfamiliar with what this means), you should already have a good working... (more)
Question added to topic FranchisesAugust 14, 2007

What should I do before signing a franchise contract without spending too much for a lawyer's fee consultation?

Before consulting with an attorney, first find out if the franchisor is willing to negotiate the contract.  If they are not, which is fairly typical with the good ones, then tell the attorney... (more)
Question added to topic Legal Basics For StartupsAugust 14, 2007

How does paying federal and state taxes work for an online business?

The business will pay federal income taxes in the same way it would if it was a brick-and-mortar business.&nb (more)
Question added to topic Legal Basics For StartupsAugust 14, 2007

To open an online store, do I need to apply for a tax ID number or can I use my social security number?

As a general rule, if your business is an entity other than a sole proprietorship (e.g., corporation, limited li (more)
Question added to topic Legal Basics For StartupsAugust 14, 2007

Is it legal for a LLC to give points to an employee of a company that the LLC is performing work for, in exchange for the promise of more work from that company and other companies where the employee may have contacts?

If by points you mean giving the employee an ownership interest in the LLC, the LLC may sell an interest to anyone legally competent to own an interest. However, paying an employee of another... (more)
Question added to topic Legal Basics For StartupsAugust 14, 2007

How do you enforce a business contract?

Absent an arbitration agreement in the contract (or a written consent to arbitrate signed by all of the parties) (more)
Question added to topic Legal Basics For StartupsAugust 14, 2007

How do I keep website developers from taking profit and ownership of my website's design?

By executing a contract that makes it clear that the design is a work-for-hire in which they have no intellectual property rights and that they cannot use for profit, you can secure ownership of... (more)
Question added to topic Legal Basics For StartupsAugust 14, 2007

Should I sign a non-binding Letter Of Intent if I think it has questionable info on it?

There is no such thing as a non-binding letter of intent. At the very least, it obligates you to negotiate in good faith to carry out the intended transaction. It can also go much farther than that... (more)
Question added to topic Legal Basics For StartupsAugust 14, 2007

When naming your business, how do you make sure the name is not taken and make it yours?

There are several companies that will perform a nationwide search to determine if the name has been used as part (more)
Question added to topic Legal Basics For StartupsAugust 14, 2007

Can I get a patent on a modification of an existing invention?

If you have added something original, non-obvious, and useful that improves the original invention, you may be able to obtain an improvement patent. But, beware: an improvement patent will not... (more)
Question added to topic Legal Basics For StartupsAugust 14, 2007

I have an idea but it involves using celebrity images. Is this illegal? Can I be sued?

If you intend to use celebrity images (or any else's image, for that matter) for a commercial purpose, you must (more)
Question added to topic Legal Basics For StartupsAugust 14, 2007

Is it possible to start a business in the U.S. as a recent international graduate?

It is possible for a foreign national to start a business in the US. In order for the individual to remain in the to run the business, however, the individual will need to obtain the proper visa.... (more)
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