#vending machines business

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Franchise Players: From Waiting Tables to Running a Healthy Vending Machine Franchise

September 24, 2014

Cecil Tyrell Whisenton got his start in franchising at the lowest rung of the ladder: waiting tables at Outback Steakhouse. Over the years, he moved up in the business, ultimately buying the same Outback where he waited tables. Eventually, he decided he wanted to look into a different vein of franchising: the healthy vending business. HUMAN Healthy Vending set itself apart in Whisenton s eyes with its commitment to charity and appealing vending machines.

Here s what he has learned as he worked his way up from waiter to franchisee.

Name. Cecil Tyrell Whisenton

How long have you owned a franchise?

Since April of 2013, so 1-1/2 years.

I chose the franchising route for a few reasons. First, I feel it is a lot less risky to become part of a franchise than to start a business from scratch because a business model is already in place. Second, the startup cost to franchise is much lower compared to starting a brand new company. Lastly, being a part of a franchise that already has an infrastructure in place gives me more flexibility with my time, which gives me more time with my family. That s priceless!

What were you doing before you became a franchise owner?

After attending St. Mary s University, where I was in the Basketball Hall of Fame Class of 2012, I started waiting tables at Outback Steakhouse in San Antonio. After working very hard, I was able to advance up the management chain and, in 2005, was able to purchase the exact Outback where I had started as a waiter. I owned and operated that Outback for a number of years and was fortunate enough to learn a lot of my entrepreneurial skills from the OSI family.

Why did you choose this particular franchise?

I initially chose the HUMAN Healthy Vending franchise after comparing it to a few other healthy vending franchises. I felt HUMAN s machines were more appealing.

I was also very impressed with HUMAN s philanthropic efforts compared to the other companies who only seemed concerned with revenue and profits. HUMAN recently introduced their own healthy snack delivery service, SnackNation. and every snack pack delivered corresponds with a month s worth of multi-nutrient-packs being sent to a child in need through the Global Alliance for Improved Nutrition (GAIN) and 1,000 Days. That s the kind of franchise that I want to be a part of. No other vending company comes close to HUMAN in that regard.

How much would you estimate you spent before you were officially open for business?

Franchise fee: $25,000

Initial Machine order: $25,000

Balance of initial machine order: $15,000

Product for machines: $2,000

Marketing and Location Discovery Acquisition: $1,000

Where did you get most of your advice/do most of your research?

Initially, the internet was my main source of information as I was able to compare different franchises side-by-side. Later, I talked with representatives of each potential franchise business. When narrowing my options down, I began talking to franchisees in the field, including a HUMAN operator here in San Antonio. This operator has been instrumental in helping me develop my business.

What were the most unexpected challenges of opening your franchise?

I didn t really encounter any unexpected challenges. My business partner really prepped me for any and all situations. All of the situations that could have been stressful were really just learning experiences that I really appreciated.

What advice do you have for individuals who want to own their own franchise?

My advice for individuals who want to own their own franchise is to be sure to do their research. There are a lot of very good franchise opportunities out there, but they re not necessarily a good fit for everyone. Try to find a few different franchises in the same field to compare side by side. Lastly, just do it; you ll be glad you did.

What s next for you and your business?

We definitely have a lot of things in the works here in San Antonio. We have contacted just about every school district in and around San Antonio and are preparing to grow our business significantly in the next six to nine months. We ve put an early focus on public schools because of the new snack guidelines handed down from the USDA called Smart Snacks In School . We also plan to contact most of the private schools in San Antonio, along with businesses and workout facilities, to see if they are interested in installing healthy vending machines.



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A professionally designed business cards can effectively promote your business. There is a good chance that if the look and quality of your card is shoddy or unprofessional, it may be thrown into the trash. Beautiful and inspiring business cards design give great experience for corporate business. Today, the business card not only have your company name. The creative design also interact with customers.

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#search business names

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Is the proposed business name available to be registered?

(Please note that the Business Name Search tool immediately below is for searching whether or not a business name is already registered and whether or not the business name is available to be registered. It is not a tool for searching who ‘owns’ – or, more accurately, who is registered as trading under/ as – the Business Name.)

Is it a good idea to register the proposed business name?

Even though the proposed business name may be available to be registered, it may not be a good idea to register the business name for a whole range of reasons including for the following (non-exhaustive) list of reasons –

1. The proposed business name may be deceptively similar to another business or company name.

If the proposed business name is deceptively similar to another business or company name, you may be subject to legal and other action by the owners of the other name. They may allege that your business name is illegally misleading and deceptive and/or that you/your business are engaging in the tort of ‘passing off’.

2. The proposed business name may be inherently (and illegally) misleading and deceptive.

If the proposed business name is misleading and deceptive in itself, there is likely to be a breach of various Commonwealth, State and Territory laws prohibiting misleading and deceptive conduct.

3. Even if the proposed business name is not, loosely speaking, ‘illegally too similar to another business name’, it still may be bad business to register and use it. For example, if your business name is somewhat similar to a competitor’s business name, and your business ends up being far more successful than the competitor’s business, you might find that potential customers intending to purchase from your business end up ‘mistakenly’ purchasing instead from your competitor’s business.

4. The website domain name you want (or may in the future want) for your proposed business name may already be registered by someone else

5. The proposed business name may be in breach of a registered Australian Trade Mark



#business seminars

#

Business Seminars and Workshops

Learn New Business and Entrepreneurship Skills

Almost every day, Invest Ottawa hosts a series of seminars and workshops at 80 Aberdeen Street for anyone who is interested in becoming an entrepreneur or small business owner. Our goal is to provide useful information and insights to help entrepreneurs meet the market’s ever-changing needs. These highly successful series of seminars have helped thousands of small business owners quickly ramp-up and understand the common issues faced when starting and growing a business.

The topics of the workshops vary from week to week and are determined by demand. Our speakers are experienced professionals, practitioners and entrepreneurs who share their experiences and lessons learned with you!

These workshops are free and offer practical advice on topics including:

  • Business Planning
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  • Finance / Record Keeping
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  • Legal Considerations
  • Import / Export
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  • Starting a Small Business

Our most popular seminars are repeated monthly, with more specialized topics occurring bi-monthly and quarterly. Start learning new business skills by registering for one of our upcoming seminars or workshops.

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#business invitations

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Party – Business Parties

FineStationery is a renowned purveyor of quality paper goods sourced from celebrated designers and independent creators. We are committed to providing the stationery you need for any occasion. From gold foil save-the-dates to illustrated invitations for a Kentucky Derby soiree. FineStationery allows you to customize your stationery to match your personal taste, style, and event. In addition to correspondence notes, business cards, and wedding invitations, we also carry heartfelt gifts and journals, including exclusively-designed products by Kate Spade and Lily Pulizter.

Share photos of your graduate, newlyweds, or baby with glossy, personalized photo cards. Add your own sentiments to any style you choose. FineStationery products are not the kind you open, read, and throw away. These are keepsakes your friends and family will cherish forever – elegant, detailed pieces that have the power to transform mundanity into an appreciation for what it truly means to celebrate the milestones of life.

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#business valuations

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Capitalization Rate

Definition

A value, typically expressed as a fraction, used to divide a business economic benefit to arrive at the business value.

What It Means

Capitalization rate or Cap rate. is a divisor used to convert a single-point business economic benefit into the business value. The typical economic benefit used in business valuation is business earnings such as the seller’s discretionary cash flow. net cash flow or EBITDA.

Note that the capitalization rate is the reciprocal of the business valuation multiple which is used by the Multiple of Discretionary Earnings business valuation method.

Business Valuation using a Multiple of Earnings

Capitalization rate equals earnings growth adjusted discount rate

Capitalization rate is related to the discount rate through the following formula:

In this formula Cap is the capitalization rate, Disc is the discount rate, and G is the expected annual long-term growth rate in the business earnings being capitalized.

Similar to the discount rate. you can use one or more cost of capital models to calculate the capitalization rate.

To estimate the capitalization rate, first build up the discount rate. estimate the long-term earnings growth rate G. then apply the formula above.

Cap rate is used as one of the key inputs into the Capitalization of Earnings income-based business valuation method.

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Haleo guards your privacy and security. We are certified by VeriSign ® and Trustwave ®.

Copyright © 2002-2016 Haleo Corporation. All rights reserved.



#mobile business ideas

#

23 Mobile Business Ideas

By: Rebecca Byers – Feb 1, 2016

In addition to saving on the costly rent fees associated with a fixed location, mobile businesses have the option of following the crowd and meeting their users where they are instead of asking them to come to you.

The Uprooted Flower Truck is a New York City-based mobile florist that makes access to high-quality floral arrangements an on-demand service. The truck was founded on the idea that by not having a permanent location, the business was avoiding the daunting reality of high New York City rents in the interest of passing on those savings to consumers.

Meanwhile, Tell a Story is a roaming bookstore that takes its impressive library with it on the road. The vibrant blue and white vehicle is a tourism project in Portugal that aims to make Portuguese literature more accessible to tourists.

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#drop shipping business

#

Drop Shipping

Definition:An arrangement between a business and the manufacturer or distributor of a product the business wishes to sell in which the manufacturer or distributor–and not the business–ships the product to the business s customers .

If you’ve been interested in starting your own internet business but you’ve been trying to avoid the hassles of things like developing and producing products, tracking your inventory, setting up warehouse space, and maintaining a confusing shipping/receiving infrastructure, then drop shipping may be your answer. It allows you to sell quality, brand-name products on your website for a hefty profit, while someone else looks after product development and order fulfillment.

Although the process can be a boon to internet entrepreneurs, you should know the advantages and disadvantages to this business model before getting started.

In addition to not having to worry about shipping products yourself, there are a few other advantages to this business model. First, it saves you the cost of building your own inventory. If you’re like most people starting a small business, you don’t have a ton of extra money lying around, so the last thing you want to do is tie up your cash in inventory that you may or may not be able to sell.

Second, no inventory also means no leftovers. If the product you sell suddenly becomes outdated, obsolete or just plain untrendy, you aren’t the one with a room or warehouse full of stock nobody will buy. Many online retailers find themselves having to offer deep discounts–and taking huge losses–on old products just to get them out of their homes or warehouses to make room for more inventory.

Third, you’ll be able to add new products to your site almost instantly. Since you don’t have to worry about stocking inventory, if you find your customers clamoring for a particular product, it’s not unrealistic to expect you could add the item to your site in just a few days.

Have you noticed there are literally hundreds, if not thousands, of sites selling huge mish-mash selections of inexpensive gift items. things like plastic gnomes and porcelain figurines? That’s because there are a few very large drop shipping companies that import these items and then recruit websites to sell them on their behalf. Unfortunately, this is not the way for you to go if you’re getting started with drop shipping. There are already a lot of giant gift sites out there–and way too much competition for you to reasonably expect to be successful at it.

Instead, spend some time researching different kinds of products that you might want to sell. The products you choose should be in demand but not widely available online. It’s most likely preferable to target a niche market rather than try to find a product that everyone wants to buy.

Whenever possible, you’ll want to set up drop shipping arrangements directly with the manufacturers of the products you want to sell. The fewer middlemen you have to go through, the bigger your profits will be.

If, after contacting the manufacturer, they agree to drop ship for you, great! You can be fairly confident they’ll offer you a competitive price. If they don’t agree to drop ship for you, you’ll have to look for another alternative. This usually means tracking down a distributor. A distributor is simply a company that maintains a large inventory of another company’s products and distributes those products to smaller companies. The best way to locate a distributor is to simply ask the manufacturer of the product to recommend one. Another great way to find a distributor for the type of product you wish to sell is by looking through related trade magazines. You’ll frequently find manufacturers and distributors advertised in the backs of these publications.

Most companies you contact will be more than happy to speak with you–after all, you’re going to be selling their products for them. When you call, simply ask to speak with someone about becoming a vendor for their products. Once the switchboard puts you through to the right person, they’ll be able to answer any questions you have, including:

1. What’s the wholesale price they can offer you on their products? You’ll need to make sure the wholesale price they offer is low enough that you’ll be able to generate a good profit based on what you’ll be able to sell their products for.

2. Do they charge a handling fee for drop shipping? If so, how much? Most companies that drop ship will simply add the cost of UPS or FedEx shipping onto your wholesale price, but some will also charge you a handling fee (generally between $1 and $5). This is to offset their cost of picking, packing, and processing the order for you.

3. How do they ship their products? Almost every company that drop ships products will use a major nationwide delivery service like UPS or FedEx. Ask them to include tracking numbers with the order confirmations they send. This will save you many potential problems when customers ask, “Where is my order?”

4. How do they bill you? Most drop shippers will bill your credit card the wholesale price of the product plus shipping and handling as soon as they receive an order from you. With others, you may be able to set up a monthly billing cycle where you submit payment for all orders at the end of each month.

5. How do they deal with product returns? Be sure to find out what their policy is regarding returns. Most reputable companies will offer some kind of guarantee or warranty on their products and will deal with returns for you. This way, if a customer contacts you with a return, you can simply tell them the manufacturer will be happy to speak with them directly. If your manufacturer doesn’t accept returns, look out! You’ll be the one stuck replacing defective merchandise for your customers.



#business ideas for college students

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6 Super Startup Ideas for College Students

It s no secret that today s college graduates struggle with joblessness and underemployment in record numbers. And with the price index for college tuition climbing almost 80% in the last 10 years, many of these grads find themselves crippled by loan payments as well.

To help ease the burden, a number of college students are opting to launch their own startups while still in school. Not only does starting a business limit debt liability, but it also allows students to benefit from practical business experience as well as the insight and support of their college professors, all while taking advantage of marketing opportunities that come with living on a college campus.

Here are five super startup ideas for college students looking to make ends meet.

1. Tutoring

The savvy entrepreneur knows that the business you launch should reflect your unique skill set. As a college student, you may want to consider tutoring other students in your area(s) of expertise.

While many schools offer free tutoring, these services are often available on a limited schedule. By starting a private tutoring business, you can offer sessions in the evenings and late at night when college students are often cramming.

Of course, once your tutoring business takes off, you can target a wider market. If you live in a college town, consider posting fliers in local libraries and shops; many parents would love to find a current college student who can help their high schoolers with application essays. You can also advertise your services online and through social media, or you can simply solicit referrals from people around campus. And because tutoring businesses have little to no overhead, almost all your income will be profit.

2. House and Apartment Cleaning

College students aren t exactly known for their cleanliness. However, if you are skilled with a scrub brush, you may be able to earn a small fortune cleaning apartments and houses around campus.

Start by offering your services to friends, family and university faculty, and expand to the larger community once you ve built a reputation. With many of the larger cleaning companies charging high rates for their services, college students may be able to get a jump on the competition by offering lower prices.

Another benefit of a cleaning business is that it requires little to no startup costs. Just store a few cleaning supplies in your dorm room, or ask customers to supply their own products in exchange for a lower price point. If your business takes off, you can even consider taking on other students as staff and expanding your services to a commercial setting.

3. Transportation and Delivery

If Uber drivers earn cash by providing travel services within their communities, then why can t the average college student do the same? Uber classifies its drivers as independent contractors, so in a sense, simply becoming an Uber driver makes a college student a small business owner. But there are seemingly innumerable opportunities for transportation-based businesses.

If you own a car and live in an area where public transportation leaves something to be desired, consider launching a transportation and delivery business. From taking students to the local Target, to delivering takeout from nearby restaurants, the possibilities in the transportation industry are virtually endless.

If you re capable of lifting a few pounds, you can also consider expanding your services to help students move in and out of campus apartments and dorms. With the average move costing $1,170, your profits can add up fast.

Unlike the first two startup ideas, however, transportation businesses may require considerable startup costs and overhead. On top of that, many jurisdictions require specific licenses and insurance coverage for commercial transportation services; as such, be sure to check with your local chamber of commerce or transit authorities for compliance and licensing requirements before launching a commercial transportation business.

4. Web Design and Development

Tech majors, take note: college students can earn serious income by starting a web design and development business. From simple projects like logo designs, to complete website revamps, various opportunities exist for the web designer who is skilled in HTML and other site-building platforms. And if you already have the computer and necessary software, startup costs tend to be minimal.

For the truly ambitious, you might want to team up with other students to launch your own site or application. This will require a significant commitment in terms of hours, startup costs and overhead, but as the college-aged founders of Facebook, Google and Apple will tell you, a chance at success in the tech industry is definitely worth it. And even for those non-tech-savvy students, simply having an idea and a buddy with development skills can translate to tech success.

If you’re just starting off as a freelance designer or developer, start by advertising to your professors and fellow students who may have parents or other relatives in need of website help. After you ve earned a few great testimonials, you can expand your reach to the larger community. As an added bonus, you can do the majority of the design work from the comfort of your own dorm room.

5. Marketing

Like tech students, marketing, advertising and even creative majors can get their careers started early by offering services to local shops and businesses. Even savvy writers and art majors can offer design or copy services to create marketing materials for locals.

You may want to start by creating a webpage and social media profiles that highlight your skills. Then, you can reach out to local businesses to offer services ranging from social media management, to blog writing, to logo design, to AdWords management and more.

Students may also want to consider affiliate marketing. in which businesses offer commissions for word-of-mouth and online leads or sales. Affiliate programs can be found online through sites like Amazon Associates. Commission Junction. LinkShare and ShareASale.

6. Personal Training

Anyone who s set foot on a college campus knows that the meal offerings can be less than stellar. With all the carbs and late-night snacks they re consuming, students are often seeking easy ways to lose a few pounds. If you re a health and fitness aficionado, you may want to consider starting a personal training business based in your college campus.

From holding early morning yoga classes on the quad, to helping students make a plan for better eating, you can earn extra cash while contributing to the greater health of your peers. And because many trainers operate out of their clients homes, you won t need to spend your hard-earned cash on office space.

With tuition rates skyrocketing, many college students are struggling to make ends meet while earning their degrees. Instead of taking on thousands of dollars in student loans, consider starting one of the above businesses to help support yourself during college. Not only will you finish school with less debt and extra cash, but you can also add this experience to your resume for an invaluable leg-up on the competition come graduation.

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#stocks

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