Business Continuity Audit » Entrepreneur

Vending Machine Business – Avoid Being Scammed

admin — Tue, 16 Mar 2010 09:24:24 +0000

The vending machine business is a multi-billion dollar industry where the opportunity for fraud abounds. Fraudulent businesses, run by smooth talking con artists, sell vending machine business opportunities with claims of highly exaggerated income potential to the unsuspecting and uninitiated entrepreneur. Not only do the entrepreneurs fail to realize the promised income but they also risk losing substantial portions of their investments in the process.

Not all vending opportunities are fraudulent and not all involved in the promotion of vending businesses are operating a scam. However, for those who are, the Federal Trade Commission (FTC) has been actively involved in investigating complaints against deceptive and dishonest vending business promoters. The FTC has charged some companies with misrepresenting the earnings potential; misrepresenting the ease and speed to which machines can be delivered, maintained, located and repaired; providing phony references and failing to provide key pre-investment information required by the FTC’s Trade Regulation on Franchise and Business Opportunity Ventures.

If you’re thinking about investing in a vending machine business opportunity, check the reputation of the business by requesting a list of previous investors as well as their addresses and phone numbers. If possible, visit a few of the investors on the list at the locations provided by the vending promoter. Do not just depend on acquiring this information by telephone as the person you talk to could very well be in cahoots with the promoter. You can also check on the reputation of the seller/promoter by contacting the offices of the Attorney General and the Better Business Bureau where the business is located and where you live to see if there are any unresolved complaints on file. Keep in mind, however, that the absence of unresolved complaints could simply mean that the promoter may be operating under a new business name and even under a new personal name.

If the seller makes earnings claims, ensure that written substantiation be provided. If the seller/promoter recommends a locator, ask for a copy of the market survey in your area. If you are contemplating buying an existing vending route, talk with the owner of the route and make it a point to accompany him or her on the route so that you can check the condition of the machines and observe first hand the amount of revenue generated. Also, talk with the people at the establishment where the machines are located or will be located to determine how many people will use the machine and what they might like to see in the machines as well as any complaints or concerns they might have about the machines already there or machines that will be placed there.

Finally, before signing any agreement or paying any upfront money, consult an attorney, an accountant or a trusted financial advisor for another opinion as to the efficacy of the business proposition. If the promoter/seller requires a deposit, an attorney can review the contract and establish an escrow account where your money can be maintained by a neutral third party. If the seller/promoter has problems with the arrangement, then it might be best to walk away rather than risk losing your hard earned cash.

By: Daniel Lambert

Give Your Company a Perfect Business Proposal

admin — Wed, 10 Mar 2010 09:59:02 +0000

A business Proposal is an essential document which helps an entrepreneur in the business promotion. It can be used as an effective and powerful marketing tool. As the name suggests, this is an offer letter which contains a proposal for the client.

This proposal is made by the seller or an entrepreneur of the organization. The proposals are either requested by the buyer or sent by the seller who takes an initiative for proposing business to the buyer. It is different from a business plan in which a marketer lays down a complete financial plan. This plan is sent to the financial institutions for funding the company for the beginning of the operations.

It is a tedious task of creating a proposal on different subjects with an aim to sell different types of goods and services. There are some basics which a marketer can keep in mind while writing an offer letter to the customer. If the customer has sent ‘Request for Proposal’, then you can treat the request as an outline for drafting an offer letter. A request keeps the mind of the marketer focused on main points demanded by the customer.

If you are taking an initiative to send an offer letter to the client then you have to dig into the requirements of your prospective buyer. An author should write a business proposal in a simple and plain language. On addressing a foreign client you should be very careful of the tone and words of your language. The best is to use a formal expression while writing an offer letter to a foreign client. You can also research the needs of your client. You should solve the basic purpose of addressing the needs of the client. A person should introduce the company’s goods as a key to the customer’s problems. It is beneficial to give a thorough knowledge of company’s origin, certification, award and achievement. Lastly, you can mention about your delivery process, terms and conditions.

Make the presentation and formatting of the proposal lucid and perfect. With these basic points in mind, you can persuade the customers to choose you among your competitors. This can help you drawing maximum revenue for the company.

By: Lara Hopkins

Small Business Government Grants

admin — Thu, 04 Mar 2010 12:53:13 +0000

America is built on the ability for individuals to build their dreams, and small business government grants make that entirely possible. Since most businesses fail due to a lack of financing, the American economy cannot afford to not make it easy for people to start a business and succeed.

This is why small business government grants are available to everyday people interested in starting their own business. Federal funding offers a chance for someone to build a business and make a difference in our economy.

By helping entrepreneurs succeed, the government knows full well that small business government grants are a good bet. In return, you’ll create jobs, invite competition, offer great services or products, and cause people to spend money. These are all the things that the America was built upon and the things that will help this economy grow.

The process is pretty straight forward. An entrepreneur interested in receiving small business government grants will first search through the electronic database to find programs that fit their needs. With over 3,000 grants to choose from, there is no trouble finding multiple offers that you can qualify for.

Once you’ve identified those offers, simply submit an application and grant proposal by following the guidelines. It might require some effort on your end, but when you receive a check in the mail for $500,000 to help finance your new office, you’ll realize it was time well spent.

Once you submit your application, it will go into a review process, which can take a week or longer. Once approved, a check will be mailed right out to your attention, and you’re free to spend it in accordance to the grant terms. As long as you stick to the terms, you’ll never have to repay the grant money.

By: Austin Warty

Title Selection For Business

admin — Mon, 22 Feb 2010 18:10:21 +0000

Selection of a right name for business is the foundation for building a brand. Business name has to be impressive and needs to create an impact on people, when they hear it. The financial success of a business organization highly depends on how well an entrepreneur selects its name.

If a business name sounds good, then potential consumers will locate the brand, identify it and buy the products from the same company eventually. If the name selection is poor, it creates negative influence on consumers and suppliers, ultimately hurting the business.

So consider the naming part a bit seriously. Use a disciplined outlook and think of some good name to launch a business. It has to resonate with the product of the company, and has to be different from other brand names. To select a name for venture, an entrepreneur just needs few materials such as a thesaurus, pen and writing pad.

Methods of Selecting a Name:

Below mentioned are some of the methods involved in selecting a name:-

Brainstorm: This involves thinking as to how people may feel or respond, while they hear the name. First, write the words on paper and then categorize them with the help of primary meaning. Think about phrases and related words that evoke the feelings that individuals imagine. First, hit the thesaurus and then find the synonyms for the phrases and words. Search for the Latin and Greek translations of the words. Figure out which gemstones, animals and colors relate to the words. Experimentation: Begin playing with the combination of partial and assorted words. Just make a list and do not get judgmental. Reflect: Try to review the list and give a thought to every name. Communicate: Get over the list with someone, who is trustworthy. Simply tell that what each name implies and how impressive do they think it is. Prioritization: – Remove those stuffs or words that do not fit, instead prepare a prioritized list of the remaining. Check trademarks: Ensure that no one uses the same name in the line of business. Although, entrepreneurs may use the name in a completely different business, they need to be aware that it might confuse both the parties. Check the domain names: Individuals need to ensure the availability of appropriate domain name. In case there is no domain name in the title of the company, then search the net for an appropriate one.

Important Tips:

Try to avoid generic titles depending on names such as Sam’s Hardware and Joe’s Bar. They are not memorable and quite impossible to trademark. Avoid names that literally describe the service or product such as Appliance Sales and Service and Computer consulting company to name a few.

Also, avoid geographical names. The name also need not restrict future service lines or product. Individuals need to be broad enough for including extreme long-term vision for business. Lastly, try to keep the name short for easy pronunciation.

By: Jon Elton

Running A Successful Home Business

admin — Sat, 30 Jan 2010 19:08:04 +0000

Have you ever considered working from home? What it must feel like not to have to be somewhere at a certain time or be woken up by some irritating alarm chiming away?

Many of us wish we did not have to be at someones beck and call from 9 till 5 and more often longer than that! There are many successful home business ideas out there in todays modern world but could we ever be sure we could earn enough money to cover the rent or mortgage if we jacked in our regular jobs?

A successful home business does not require an individual to necessarily take a leap of faith when starting up. More often than not the budding entrepreneur can begin his or her enterprise at their own pace with minimal outlay and all from the comfort of their own home.

We would all like to break away from the shackles of our every day lives and the drudgery of doing a job that we have absolutely no interest in just to pay the bills. It would be great to spend more time with our partners and family and when the sun is shinning be able to forget about working and go to the beach or for a walk in the park without having to book the time off in advance. Or worse not having any holiday left to take!

Luckily running a successful home business is not limited to the elite, rich or trained individual and can be open to just about anyone who wants to give it a go. Furthermore running your business from home can be a very rewarding experience where you will learn at your leisure and within weeks be able to grasp the mechanics of what the best and most successful home business need to thrive and earn not only enough cash to pay the bills but enough to enjoy all the finer things in life.

Today, diverse types of online business are rising up from all over the globe on a multinational level to become the best in their fields.

Although Internet marketing is competitive there is plenty of room for the eager individual to carve out a promising home business. If you want your home business to succeed and be profitable it will require careful planning and sacrifice. Be prepared for downfalls along the way but use this as a learning curve. Remember no home business goes with out a few failures.

By: Vicki Churchill