Buying a Hotel Business
By Bill Henthorn
So you have always wanted to own a hotel or a motel, in your part of the country. Maybe the area you want to own a place in is in a resort area or a downtown location of a portion of town that is being rehabilitated. How do you go about finding properties that you could purchase and run profitably?
A first step is to consider how much capital you will have for a down payment and for working capital. Then figure that this will represents from 5% to 20% of the total paid for the property. The second part of this exercise is the property must be assumable or the current owner will consider carry the balance above the down payment. You may also look into what a bank would demand to make a deal. Assuming you have good credit and several years of experience in the hotel or motel business you would probably make an excellent prospect to purchase the right place.
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Starting a Home Repair - Inspection Business
By Bill Henthorn
When buying or selling real estate, it is common for the buyer to request a home inspection in order to discover appliances or house mechanicals that could be potential problems. This would include items like the air conditioning system, the heating system, the plumbing system, the electrical system, the roof, the foundation, the outside paint or siding and other items that could need to be replaced. A handyman would be a good candidate to own such a business. There are private and franchise home inspection companies that either could be started from scratch or purchased as an existing business. The advantages of buying an existing business are the clientele that comes with the business. It is also easier to continue on the path to a successful operation with the purchase of an existing business.
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Starting a Day Care Center
By Bill Henthorn
Assuming you can obtain the appropriate licenses and meet the state requirements you can start a Child Care business or a Day Care Center. Or you could buy an existing business with its in place clientele. The second choice can be better if a fair price can be reached and you can keep the existing clients. On the other hand if you have a potential customer base that is just waiting for you to open your doors, you would be far better off if you can start the business in your own facility. The cost of buying an existing business can be far higher than if you start one from the beginning. The big advantage is having a clientele from the get-go. The problem is how do you guarantee that the base of customers will stay with you when you buy the company. This is the real value of an existing company.
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By Bill Henthorn
The hair salon business is all about customer satisfaction. Those salons that have happy customers thrive and grow. Those that have a problem with customer satisfaction will not grow, will not get referrals and will eventually lose customers, and go out of business. The message here is if you are not a people person, then this business may not be for you. A salon needs to be a pleasant place to visit and spend an hour or so. The beauticians need to be skilled and friendly. They need to be efficient in their work and professional in the service they provide.
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By Bill Henthorn
The cost associated with starting a fitness center or gym will depend on size, location, equipment, number of employees and other normal start-up business cost. If it is a franchise operation there could be fee to the franchise people.
The other way to do it is to buy an existing business with its built in clientele. If it is a membership fitness center, the clients are locked in for the period of their contract. Any membership considerations should be fully disclosed and made part of any buy out agreement. Again there may be franchise considerations that need to be disclosed.
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By Bill Henthorn
There are several options for a person to consider when looking getting into the car wash business. Should the person buy an existing business? Should it be automatic-self service or one with a staff of washers? Should you consider a mobile business or a business with a fixed location? Should the business be a hand wash business or equipment oriented? All of these questions must be answered and the potential owner must come to grips with these options.
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By Bill Henthorn
Like all things in life, there are always list of the top this or that. Franchises are no different and can be put in list like most popular, range of cost and ease of purchase. Business brokers also have their own favorites to show prospective clients.
If a potential franchise buyer is thinking about buying a franchise, then looking at rankings by various categories makes sense, as it will let them learn a great deal by comparing different franchises. The Internet is a great place to learn a lot from these list in a short amount of time.
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By Bill Henthorn
A large family can supply needed employees
A franchise that has many employees working in it on different shifts is one that a large family could run quite well if the family members are so inclined. The family must however get along with each other, as they will spend even more time together if they work in the business together. Sibling rivalries can become even more pronounced when the family members need to spend even more time together. If the family gets along well together then this franchise idea may be a perfect way for the business to solve the employee need.
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By Bill Henthorn
The basic rule when thinking of owning any kind of business is the chances for success favor buying an existing business. There are pluses and minuses for either choice, but the statistics for success favor an existing business. The reasons become very obvious with a little study on the part of a potential buyer.
The cost difference
Is there a cost difference between the new franchise and buying an operating franchise? There can be quite a difference both ways depending on the financials of the existing franchise. If the business has good numbers and is showing a decent profit, it will be worth more than a franchise that is opened and started at a new location. The customer base has been started and, depending on the length of time the franchise has existed, the base could be significant and almost guarantee continued success.
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By Bill Henthorn
eBay has become a great way to sell all kind of merchandise on the web. A person can start out by selling personal items they wish to get rid of and graduate to selling merchandise that they find or contract for. An eBay business can become a full time business and for some be a very profitable enterprise.
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Why Buy an Existing Restaurant?
By Bill Henthorn
If you decide to buy an existing restaurant business, one of the benefits you will immediately realize is the privilege of examining its historical performance. This will allow you to make some very important business decisions. Your strengths can be of great use even if the restaurant was not profitable in the past, and your greatest hope can be to evolve a winning operation.
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The Internet is a blessing to stay-at-home moms who want to earn money to supplement their family’s income. And one of the best ways for any mom to earn money online is through affiliate marketing which is an easy and proven money-making endeavor on the Internet.
Affiliate marketing is ideal for stay-at-home moms because it is a very flexible way to make money online. Moms can do it any time of the day like at night when their children are already asleep or when all household chores are done. And unlike having a full time job, affiliate marketing won’t require 8 hours of your time every day, 5 days a week, leaving you enough time for your family and for the things you really want to do. Another good thing about affiliate marketing is that to do it you don’t need any special equipment aside from your computer and Internet connection. You also don’t need any special skills or even a background in selling or business if you want to enter affiliate marketing. Read the rest of this business idea »
How To Run A Retail Store
By Bill Henthorn
Retail businesses sell all types of merchandise and are not limited to what is sold in a five and dime or a dollar store. The items sold could be clothes to skateboards to motorcycles. Any store at a fixed location that sells similar items each day could be considered a retail store. There are several facets to a successful retail operation.
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How To Run A Construction Company
By Bill Henthorn
There are three separate entities that a construction company has to satisfy in order to remain in business for an extended period of time. Licensing by the state, county and city can be the first hurdle the construction company must conquer. There are licensing test that must be taken and passed in order to get the license to operate. When this is acquired, the insurance that most clients will demand you have can be obtained to cover the job liability. Having the license will also allow bidding on jobs and doing subcontracting work.
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The Art Gallery And Gift Shop Business
By Bill Henthorn
A business that includes a picture framing business, an art gallery and a gift shop is a business that has an excellent chance of succeeding. If the location is high traffic this will get potential customers to stop and go through the gallery. If your shop is located in a tourist area you may get an entirely different group to visit your store depending on the time of year.
The gift and framing business should give the store a constant cash flow and the gallery will help the bottom line each quarter. Pictures and art works are an individual like or dislike. What one person would find a must have item another could pass on without a second thought. This means in the gallery you will need to have some variety of art and pictures.
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