Finding a Way Around Dry Capital Markets
As the recovery continues to take shape as a slow climb, many entrepreneurs continue to see capital trickle through. Personal savings, often tied to stock portfolios, has seen little growth. Non-government investors are giving out capital less, less often, and with far more scrutiny. The Wall Street Journal profiles several entrepreneurs in search of funding. Kenneth MacKinnon moved to Los Angeles over two years ago with plans to start a tapas wine bar, but despite a high credit rating and collateral, including a home, the Scotland native says he has been unable to secure the $300,000 he needs from banks or private investors. “The money. Read More.
The Timing is Right for Many Restaurateurs
Some start-ups are finding the economic recovery to be the perfect time to set up shop. Entrepreneur reports on how reduced rental costs, the availability of talent and customer expectations are creating a great environment for some restaurants. Everyone knows the prevailing wisdom about the restaurant business: It’s a bad bet, notorious for failure, with three out of four places closing within the first three years. But consider this: Studies have found the risk of closing is the same in good times and bad, according to Andrew Rigie of the New York State Restaurant Association. And the upsides to a down. Read More.
Could Franchising Be the Best Option for You?
Small business owners just starting out have a catalog of concerns before even one product is put to market. Entrepreneur offers 10 reasons why a franchise can ease those worries, and set you up for success. [I]t’s nice to have help, and there’s probably no bigger source for startup help than a well-chosen franchisor. It’s why people look to franchising as a vehicle to drive their lifestyle and their income in the right direction. As a result, some are dipping in to their pensions and 401(k)s, withdrawing their faith in the stock market, and investing in a more manageable and profitable. Read More.
Tips for First-Time Business Owners
As economic indicators continue to show full recovery is on the way, many individuals are striking out on their own. Entrepreneur provides 10 tips to set yourself up for success in a new venture. 1. Focus. Focus. Focus. Many first-time entrepreneurs feel the need to jump at every “opportunity” they come across. Opportunities are often wolves in sheep’s clothing. Avoid getting side-tracked. Juggling multiple ventures will spread you thin and limit both your effectiveness and productivity. Do one thing perfectly, not 10 things poorly. If you feel the need to jump onto another project, that might mean something about your original concept.. Read More.
Franchises Continue to Offer Opportunity in Uncertain Job Market
According to a recent CareerBuilder.com survey , 25% of individuals who have lost their jobs in this current recession consider going into business for themselves. But as the small business credit market continues its struggle to recover, one option for many may be buying into a franchise. “Sales by franchises account for more than 40 percent of sales by all U.S. businesses,” according to the USA Today Franchise Ownership Center . “There are over 1,500 franchise companies operating domestically through more than 320,000 retail units.” But as reported in The Wall Street Journal , some franchisers are pulling back on efforts to find new franchisees during this recession: “Historically, [franchisers] have. Read More.