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Ask Entrepreneur - Franchises

Franchises

Should I Use Personal Funds to Start a Franchise?

I’ve been doing a lot of research lately about franchises and I'm assessing the financial state I should be in to buy a franchise. How much of my personal funds should I use to start a franchise? Sh...
Starting a Business

Should I Bring a Mentor into the Business?

I'm building a startup and because I have no experience other than a great idea, I enlisted the help of a mentor. Since then, I've been working with him and paying him by the hour. Now that I'm gettin...
Money

What's the Best Way to Find Startup Money?

I am working on a deal with the largest distributor in the world of sporting goods to sell a product I've come up with. This company has already offered a payoff of my patent with a 3 percent royalty....
Franchises

Are Franchise Fees Negotiable?

When looking at options for a franchise to buy, is the cost of the franchise and what’s included in the franchise fee usually flexible? Can I negotiate these? If so, what should I keep in mind? If n...
Marketing

How Can I Market to Decision-Makers?

I am developing a mobile advertising service -- a coupon iPhone app -- for brick-and-mortar stores in Australia. My direct customers are businesses such as cafes, retail stores and gyms, among others....
Home Based Business

Do I Need a Permit to Have a Sample Sale?

I am having a sample sale of new items outside my home -- similar to a garage sale. The only way for me to get the info out is to put out flyers, but I am concerned since these are new products that I...
Legal Basics For Startups

What Ownership Stake Should a Departing Partner Keep?

I co-invented a line of products with a friend. We own 100 percent of the company, in equal parts, so I own 50 percent. I need to leave the company due to personal reasons and my partner needs to brin...
ORPHANS

How Should I Value My Business?

I'm a business owner of a small hotel. After eight years of running it successfully, I want to sell 40 percent shares. How do I value the shares to determine a price that must be paid? Or, is there an...
Starting a Business

How Can I Use Social Media to Market My Business?

I own a a fashion-based direct sales business. I know social media is a good way to invite people to my trunk shows, where I present my merchandise. But how else can I use social media to advertise?
Marketing

How Do I Launch a Promotional Product?

I patented an advertising medium that's used as a promotional product. How can I reach out to airlines, big companies launching new products, health care providers, insurance companies and others abou...
Marketing

How Do I Build an Inside Sales Team?

We're building an inside sales team to align with field sales in our business. What is the best way to get field sales on board?
Home Based Business

Does a Home-Based Business Need a License?

I am a freelance graphic designer but I also design wedding invitations and make them. I do it all from my home and have no other source of income. What type of business license do I need? Are there o...
Starting a Business

How Do I Have a Prototype Built?

I want to build a prototype of my idea, which would resemble an Apple iPod or Microsoft Zune. I'd like to speak with a manufacturer about my idea and have them create a prototype in my vision. How can...
Money

How Much Should I Charge for My Service?

I want to start an information consultancy firm in a relatively new market -- meaning I have not seen any other business like this for the advertising industry. Given this, how can I determine how mu...
Legal Basics For Startups

How Do I Start a Personal Training Business?

I would like to create a Pennsylvania-based personal training business where I would come to the client's home to train him or her. I have a nationally-accredited personal trainer certification as wel...

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