|Small Business Information|
Fleet Washing Expansion Considerations
Many times small businesses want to expand their businesses and are not sure when the best time to do that might be. The key of course is cash flow. Will your current and brand new accounts afford you the cash flow to expand? Let us run thru a scenario with you and just so you know this is good advice, I own the Truck Wash Guys and have been doing this a while. Each time a franchisee wished to expand and ask for advice, I would look at their situation and determine if it was a wise idea. Sometimes it was, but often it was not. So let us look a hypothetical scenario for a moment:
Well let's consider. You have two new fleet accounts, one with twenty buses at let's say $10.00 each from a summer day camp for kids. The other is a rent-a-car company that pays once a month. This is your 50 percent increase in sales. Now, let us add in a graffiti removal contract. The graffiti contract starts in two months. Sales are up and everything looks great?except:
The day camp ends after summer (two months left)
The rent-a-car company pays monthly so you will bill them at the end of the month and then they will wait thirty days to pay you plus mail time
The graffiti contract is the same payment schedule and cities are notorious on slow payment
Graffiti can be cleaned at night
Rent-a-cars can be cleaned by starting one and one-half hours earlier on Mondays and thirty minutes earlier other days
Summer camp buses can be cleaned whenever You are not sure yet how often the day camp pays
Still think you want to expand?
Remember: You can run your pressure washing rig twenty-four hours a day without owning two rigs. You will have a major cash flow problem if you buy another unit because of the billing cycle on big accounts. Your new truck would not be ready for thirty days plus five days to get financing. By that time the summer camp is almost over. Wow. All the indicators point to a second pressure washing rig and new truck or do they?
Sometimes you need to actually open the hood and take a look. Consider putting on your devil's advocate thinking cap and make yourself a mechanic. Ask yourself for help. Let yourself look under the hood. Throw away the ego. Sure it would be nice to own another pressure washing rig and you would be a big business man. But realistically speaking it would all be for show and you would actually be making less money. You can justify the expansion to the leasing company or a bank and get the money all right because sales are up. But that doesn't make it a savvy move. Sometimes race car drivers draft behind the lead car to cut down on drag from the wind. By conserving resources (fuel) they better their chances for winning the race later. In business, the person who gets to keep the most money wins, not the one who has the biggest empire. Think about it before spending the money on expansion.
"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
Hosted PBX, Is It Right For You?
"Order Now!" "Your Business Will Fail If You Don't Have This New Technology!" "Your Competition Has This Tool, Why Don't You?" Does any of this sound familiar? Does it make you cringe? It seems to be impossible to keep up with all the new trends in business today. It's hard to know which trends are just flash in the pan gimmicks and which are valuable tools that your business can actually benefit from. It's important to do your research. Find out what these tools can do for you and make sure it is right for your business. One of these recent trends is the hosted PBX service. These "virtual" phone systems can automatically answer, screen and route all incoming calls to your office, home and/or cell phone. Although they have been on the market for some time now, hosted PBXs have recently been getting the attention of more and more small and medium sized businesses. Is this technology right for your business?
QSR Quick Service - Fast Food Restaurants Labor Situation in United States
One of the major complaints in the QSR Quick Service-Fast Food Restaurants Industry is the deplorable Labor Situation. In United States teen labor has become somewhat slim on ethical standards, showing up on time, drug use (both recreational and problematic), work ethic and trainability. Who can we blame? Well we can start by blaming ourselves. What happened? Well it is the latch key kid syndrome, lack of school funding and discipline and many other obvious issues. The ages between 17 and 28 the normal ages of employees of Fast Food Restaurants have a lot to be desired in the inherent customer service realm and desirability for employment.
Not Listening Can Hurt Your Small Business
Most small business owners seek advisors who can help them improve their businesses. They want advice from those who have the experience and really know what they're talking about. But they can only benefit from the sound counsel if they listen to the expert's guidance. Unfortunately, there are some entrepreneurs who aren't going to hear the professionals out or follow a plan no matter what. At that point, experts realize that they might as well save their breath and hope that the business owner will eventually see the error of their ways before it's too late.
Small Business Vendors; Getting the Best Service
If you are a small business you know that you must rely on your vendors to make sure you have everything your customers need. Lack of vendor support can lead to upset customers or even loss of your business. Be pleasant and courteous to all vendors and potential vendors. Try and treat vendors like your favorite customers treat you. Do you remember recently when you went out of your way for a customer, the whole time knowing you weren't going to make any extra money by doing so; yet you did, simply because you liked that particular customer. That customer; whether you know it or not, probably told five friends of your gallant effort; something you may not even have thought about. This type of extra concern and effort is hard to come by these days from local business people. You will, from time to time, need this type of gallant service from your vendors, so start now by being extremely pleasant to those you do business with. Remember, also to refer your customers to your vendors whenever the opportunity arises.
How to Prepare for Your Start-Up Venture!
When you awoke this morning, you found yourself buzzing with a fantastic idea for starting a new business and you hadn't a doubt in your mind that you could turn it into a huge success. But now what? All those great ideas floating around in your head and you're excited about making them happen, but at the moment you don't know where to begin. What is the first thing you should do as you contemplate your plan of action?
Build Your Small Business by Building Relationships
-- The One Pager Shortcut Series --
Starting is the Hardest Part
You can't imagine how many people ask me how I did it. To turn my back onto convention, to turn a deaf ear on the people who wants what is best for me, to snub my nose at people who thinks I am making one of the biggest mistakes in my life?etc. Hey, this is what I do best, so, I am really good at this. Granted, not everyone is as good at defying convention (and logic) as me, so, I'll keep that in mind. :-)
What is Business Process Automation?
Business Process Automation or BPA for short. This was a buzzword a few years back with anyone and everyone claiming they were experts in this area. Maybe so. But to really realize its true potential you need to understand what business process automation is and why you will need it?
Image is Everything - Secrets to Cleaning Car Fleets
A recent survey indicated that clean Taxi Cabs Fleets have higher tip rates and repeat customers. How do you wash a taxicab? You do them four at a time and you go up and over and up and over when you are drying them. If they have a little taxi cab sign, dry that last. But you do the rest of the car the way you do a regular car. The only difference is you are going to spray three, four, five, sometimes six cars at a time. Then another crewmember is going to follow behind you and do all the windows really well. You do a quick vacuum with a taxicab. Seriously, you do not want to be in that taxicab for more then a minute or a minute and a half. Now most taxicabs are usually scratched and they look like crap. This is something you are going to have to deal with. This is just the way they are going to look which is good for you because they are not expecting a perfect job. They just want them to look clean because they have their logo on them. Taxi companies are very low budget operations and low cost will get you the account. Some taxicabs are owned by independent contractors. You will need to charge more since the volume is not there. Staging areas at big airports are a good place to find lots of taxicabs.
Solving the Late Paying Customer Blues
Nothing can drive a business down faster than customers who don't pay their bills as agreed. When you sell to customers on credit you are making an agreement with them. You will provide them with goods or services in exchange for their payment within the terms you agree upon. Period.
Uncover Free Veins Of Gold By Prospecting Online Guru Newsletters (Part 1 of 2)
Incredible as it sounds, you have a goldmine of free business advice and resources available to you for starting an online business. Many entrepreneurs are taking advantage of the unbelievable opportunity of financial independence by starting an Internet business.
Franchise Territories are Generally Delineated On a Map; Why?
If you own a mobile service or home based franchise your exclusive territory will be delineated on a map in the attachment of your franchise agreement. You will be assigned generally a single city, county or region and another franchisee or team member of the same system will not compete with your although may be right around the corner. You will only drive or be required to service clients as far as your exclusive territory boundaries. Unless of course there is no franchisee in the next city over, then might be willing to temporarily expand your market region if it is okay with the franchisor. You may go to that city periodically for special people or special clients that have needs of services. This is why we have exclusive territories in the franchising industry.
11 Things Small Business Owners Can Learn From Tiger
1. There Are No "gimmes" ? They count two-foot putts on the PGA Tour. Hold your small business team accountable for completing everything they commit to starting.
Attributes Of Companies You Don?t Want To Buy!
There are no "rules of thumb" in the pursuit of companies to buy. Each purchase opportunity has to stand on its own merits. There are, however, attributes of acquisition candidates that need to be defined for what they really are before additional, limited resources are put at risk in a potential deal. It is absolutely critical for any proactive business buyer to understand, consider and deal with specific business characteristics that add unnecessary financial risk to the investment opportunity at hand.
Asking the RIGHT Questions
Which questions do you need to ask to even get a hint if you really want to know something about another person's business pain?
Three Big Barriers To Small Business Marketing Success
When you feel like you're always busy working on your business, but not getting where you want to go, it can be frustrating trying to figure out how to get your marketing on track. It can easily become a "not seeing the forest for the trees" feeling.
Too Many Lawyers in Franchising Today
Attorneys and Lawyers are ruining the franchise industry. It is too bad too, because franchising represents over 400,000 businesses in our country and accounts for just over one-third of every consumer dollar spent in this country. By over regulating and over lawyering the industry we are weakening our free markets and suffocating our up and coming entrepreneurs.
Online Search: Small Businesses Level The Playing Field
Seventy percent of US households use the web when shopping locally, and about 25 percent of all searches are looking for local information. As more and more households make the switch to broadband connections, this trend will continue to escalate.
Local Government Relations for Small Business
Most small businesses simply go about their daily business and serving customers without ever worrying about local government relations. For some it turns out okay but for others it can become a disaster. You never know when a new project down the street may call for new plans to adjust the roads or put in center medians. If you are on a busy road you rely on traffic from both directions. A five-month road project can kill a business and what if it is in your busy season. If you are in retail that could be Christmas Time; imagine half you customers not being able to turn into your driveway? Then imagine after the holidays are over you have to deal with a center median which does not allow cross-over traffic. Or a do not cross over the line sign with a police car enforcing the new laws from your drive way leading into your business?
A Small Business Consultant Can Help in Many Ways... But One Thing He Can?t Provide
A consultant must remember that the business belongs to the client. There is always a danger that the consultant will take a dominant position to the detriment of both of them.
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