The Advantages of Buying A Business or Franchise


Why buy an established business or franchise rather than start from scratch? There are many advantages for an entrepreneur.

First of all, there is a savings in time, energy, and money when buying an existing business or a franchise. The lengthy process of researching and creating business plans and models has already been done for you. Usually when individuals decide to sell a business they prepare a business plan or offering summary for you. Also, if there is financing needed for your purchase, it is not as difficult to obtain since a lenders are more likely to finance a business with a proven track record.

Also, most times, everything is included in the purchase, especially in a turnkey business for sale. It is very beneficial for you to inherit the infrastructure that has already been established by the previous owner. This includes the customers, but suppliers, employees, equipment, and systems as well. It is a good possibility that the previous owner(s) may offer some insight and assistance, therefore making the transition easier. In addition, the cash flow most likely will start immediately, rather than in an unknown time-frame when starting a brand new business. Profitability is not in question as it would be in a startup.

Opening a franchise comes with the advantage of knowing that this business has been successful in other locations. The idea and process of running this business have already been proven. Therefore the learning curve in operating the business can be virtually eliminated. In addition, Risk of failure is much lower with a franchise than starting a brand new business. There is a much higher likelihood of success if the same business has done well in other areas.

Finally, since a franchise or existing business for sale already has a good foundation, you can focus much of your efforts on building and expanding the business. As you become more familiar with your customers’ needs and wants, you will have opportunities to add enhancements and improvements, therefore increasing your chances of higher profitability much sooner than you would in a startup business. There are thousands of businesses for sale and franchises out there right now and they are very easy to find. At BusinessMart.com you can browse through many great businesses for sale and franchises and also learn about the entire process of buying and selling a business.

About BusinessMart.com


BusinessMart.com
has become the fastest growing business for sale search engine, helping buyers and sellers of small businesses and franchises. BusinessMart.com has many resources to help you on your journey to start your own business, sell your existing business or open a franchise. FranchiseBuyersNetwork.com, which is owned and operated by Business Mart, Inc., helps individuals looking for information on opening a franchise or business opportunity and guides them on a path to success!

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Selling Internet job listings in booming Asia seems like a cinch.


This is another fine example on how one could be successful online. I mean an online business. This article was in Forbes.com today. May I ask you few questions?

  1. Have you got a job?
  2. If not where do you find one online?

In Malaysia we will search for jobstreet.com. Well, this is the story about Mark Chang the founder of JobStreet.com

When Mark Chang started JobStreet in 1997, he figured it would earn him a regular paycheck and allow him to be his own boss, but he didn’t expect anything more. Fast-forward ten years: JobStreet is now Southeast Asia’s largest online employment company. It’s growing in Hong Kong and India, and it’s entered Japan.

Who is Mark Chang? Mark Chang is an Executive Director and Founder of JobStreet.com. He has also been its Chief Executive Officer since its inception. He obtained his Bachelor of Science in Mechanical Engineering from the University of Texas, Austin, USA in 1988 and a Master of Science in Mechanical Engineering from the Massachusetts Institute of Technology, USA in 1990.

After graduating from the Massachusetts Institute of Technology, Chang returned to Malaysia and took a job as an engineer at a catheter factory in Perlis, northern part of Peninsular Malaysia. He spent his evenings and weekends tooling around the Internet. In 1995, figuring he was ready to set out on his own, he started Malaysia Online, the country’s first commercial Web site. MOL offered the usual portal services, including online classifieds, and Chang quickly noticed that the job listings were popular. That led to JobStreet.com.

The site’s growth soon bumped into a problem: Malaysia’s then slow Internet speeds were putting off some job seekers. So he wrote software enabling the site to match jobs with job seekers and automatically e-mail them when a suitable opening was posted. That way they didn’t have to keep logging on to the system to conduct fresh searches of the listings.

By 2000 Chang had decided he had too much on his plate with MOL. He spun off JobStreet into a separate company and sold MOL for $3.2 million to Vincent Tan, the chief executive and controlling shareholder of Berjaya Group. He then plowed $2.6 million into JobStreet and began building the site in earnest.

During the early years Chang was basically winging it. “When I started JobStreet, I had no business plan,” he says. “I just thought, ‘I’ll try it for two years and see how it goes.'” His approach worked in his favor as dot-com fever swept through Asia in 1998 and 1999 and Internet consultants and angel investors bombarded Chang with business plans and big ideas.

Read the whole Success story of Jobstreet and Mark Chang at Forbes.com Turning Classifieds Into Cash

Press Releases

2007

To read more Press Releases, go here now.

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(News) – Sabah Development Corridor for 900,000 jobs


On August 1, 2007 I posted a post with the title: (News) – The Northern Corridor Economic Region (NCER) and today we heard that our Premier, Datuk Seri Abdullah Ahmad Badawi said “This is not a daydream. We are not making an empty promise”. What does he mean by that? It is reported in local dailies that a total of RM105billlion in investments, 900,000 jobs, a waterfront city, tourism projects and a RM600million new Sabah Railwat terminal – these are among the things Sabahans will get when the Sabah Development Corridor (SDC) is completed in 18 years.

In my previous post on NCER, I said “All these developments will have an impact in our life. We will see how it goes.” This statement is inline with the Premier statement today when he said that “Tackling poverty cuts across racial and religious lines and the Government’s target of eradicating the problem in 18 years is achievable”.

He outlined five key thrusts of the SDC, which will be to:

1. > make Sabah the gateway for trade, investment and tourism in the region.
2. > transform the state into a harmonious and prosperous state regardless of race or religion.
3. > make the state more technology-savvy to ensure a better quality of life.
4. > provide job opportunities in the state.
5. > make Sabah a comfortable state to live in with good quality of life accentuated with diverse cultures, heritage and environment.

What interest me are item no. 3 and item no. 4 which are related to what I am going to achieve online. That is to have a better broadband capability for the country as a whole and to Sabah in particular so that online business could take off to the next level between marketers in Peninsular Malaysia and with those in Sabah. This market sector have a great potential which already shown the impact to developed country like the United States way back in early 90’s. This is somehow I have said before in my previous post, “Surely, online business will also grow. Hopefully, Malaysia will also improve its broadband capacity to cater for the new businesses”. SDC will create more jobs offline or conventionally as reported for 900,000 jobs but the way I see it when item 3 above is fully develop, far more jobs shall be created online as well. Broadband will also trigger tourism industry as more and more tourists from developed countries will like to visit Malaysia simply because they are more towards an online community. So when they are in Malaysia, they will not miss their home so much as they will be connected to their families online. So blogging could be fun even when one are enjoying a cool breeze and the nature from Sabah forestry destinations. A superb way to promote Malaysia to those who are baby boomers or technology savvy tourists.

My previous thoughts were discussed and posted at The Borneo Post Online and BERNAMA.

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We need to play and contribute at Free Rice


Hi guys…today, tomorrow and forever we need to help the needy. Being online, we could contribute too. It not need to be hard cash but your time online. How? The premise is simple. You play this game, called FreeRice. You get asked a bunch of questions aimed at testing your vocabulary. For every one you get right, ten grains of rice are donated to the The United Nations World Food Program by the game’s sponsors (Apple, Time|Life, American Express, etc). Doesn’t sound like much, but the more you play, and the more people play, the more free food gets sent to the world’s hungry. No jokes, no catch.

 

About FreeRice

FreeRice is a sister site of the world poverty site, Poverty.com.

FreeRice has two goals:

  1. Provide English vocabulary to everyone for free.
  2. Help end world hunger by providing rice to hungry people for free.

This is made possible by the sponsors who advertise on this site.

Whether you are CEO of a large corporation or a street child in a poor country, improving your vocabulary can improve your life. It is a great investment in yourself.

Perhaps even greater is the investment your donated rice makes in hungry human beings, enabling them to function and be productive. Somewhere in the world, a person is eating rice that you helped provide. Thank you.

Play and Contribute

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The psychology of your business and managing it


Do you have a business? If you do, then managing your spending is a must know how skill. A business credit card is a must apart from your personal credit cards.



First of all, it separates your personal money from your business funds. It gives you the option to distribute business credit cards to your employees to keep track and control spending on all your business purchases. It also provides you with an annual report, detailing all purchases that are made on your account. This is a great help when reviewing your accounting and tax payments. More importantly, a business credit card can be used to temporarily fund a business and get it started without waiting for a bulk of cash to come in hand.

But one need to be warn of using multiple credit cards. Having a credit card can be a boon or a bane depending on how you manage it. With multiple cards, people tend to swipe unwisely. Maintaining a credit card helps meet emergencies and make online payments. However, it’s advisable not to keep too many credit cards just because banks provide them free of cost. It’s better to have one card if not two since it becomes easy to control expenses. This is a genuine advise from my financial advisor.

The most common mistake people make when they opt for a card is they don’t understand their credit profile, number of cards they need, the terms and conditions and how to handle the billing cycle. A credit card is an unsecured loan with a high interest rate. Unplanned credit card usage affects monthly cash flows adversely. If the due amount is not cleared on time one ends up paying unnecessary and exorbitant interest.

Certainly business credit cards are a convenient way to handle your business resources. A vital point to bear in mind always is that managing your finances requires self-discipline and a proper view of money. Using your business credit card to its full potential is up to you. Take advantage of all your privileges but never abuse them.

Remind yourself daily that money or a lack of it doesn’t determine who you are. Your worth as a person has nothing to do with how much money you have. Once you truly believe this, and money is no longer connected to your sense of self-worth, you open up the psychological barriers that were keeping you from wisely handling the money you do have and limiting your ability to make more.

Right now, your unconscious limiting beliefs may be keeping you from being financially successful, but as you begin to build up your feelings of self-worth and develop a positive attitude about yourself and about money, you’ll attract positive things into your life. As you do so, you’ll feel less of a need to generate positive feelings by purchasing things, and you’ll find it easier to stop buying items you don’t really need.

There are hundreds of books, magazine articles, and Internet web sites about getting rid of credit card debt. Some of them offer sound advice about the psychological aspects of money and spending that you’d do well to consider. Working on the psychological aspects while taking steps to reduce debt will greatly increase your chances of long-term success.

Get more tips by reading inspirations books from Suze Orman and Olivia Mellan at Amazon.com,

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