This is one of a series of occasional articles about dealing with the downturn and what you can do to get your business fitter to survive, whilst many of your competitors may fail. The idea of Taking Your Business to the Gym comes from the view that over the last 8-10 years things have relatively speaking been easy. Company liquidations have been at low levels both consumer and business to business markets have been strong and companies have had no real pressure to look at themselves and seek improvement.
The benefits of accepting credit cards almost always outweigh the risks, and the chances of this are greatly improved if you do your homework before opening a merchant account. In this article I'll talk about the importance of accepting credit cards, what to expect as you compare merchant accounts and how to keep your merchant account in good standing once you begin processing.
One of the never ending battles those opening a dollar store face is reduction in the cost-of-goods-sold (COGS) in their store. When the COGS calculation includes shipping they've seen a tremendous increase in COGS over the past two years. While some store owners have chosen to become victims of the increases others have chosen to diligently work to reduce the COGS for dollar store merchandise in their stores.
Introduction Buying or selling a small business can seem bewildering but the process has a logic to it that sharp entrepreneurs can understand and use to help manage the time, direction, and strategy of their business lawyers and other professionals who help them in the process. This article gives you an overview of what you need to work with your professionals intelligently and effectively in buying or selling a small business.
Because of the financial strain of the current economy and recession, there may be many small businesses which face the unfortunate decision of having to close their doors. If you are in the situation where you need to know how to close a small business then here is a basic checklist to go over as well as some good options of where to go from here.
I know what your thinking. I have customers, I service the local community and I don't need to sell my lawn care business to some guy in China. Why do "I" need a website? The answer is simple. The world is changing, and the way people find things is changing along with it. There was a time when all you need was an ad in the newspaper, Yellow-pages and becoming a member of the Chamber of Commerce captured most of the local market.
The vending machine business in the U.S. is huge. Americans are dropping approximately twenty to thirty billion dollars into vending machines every year. Vending has excellent profit potential and offers a great chance for any business person to have a very lucrative home-based business if they are prepared to put in the work in building up a route.
Adding an application to your website that lets client's book appointments at your chiropractic clinic online is a very smart business decision. Customers really respond well to businesses that give them the choice to make their appointments online or to call and make an appointment. If you let your customers book appointments at your chiropractic office online you also can use that as an opportunity to find out they found your chiropractic office and what type of chiropractic care they are looking for.
Every area of the world has been affected by the latest recession. All companies have reduced Working Capital and are forced to do more with less. While this will make the surviving companies stronger, it will also make them wiser. There have been many companies move away from a traditional bank loan for their operations Cash Flow needs because taking on more debt is not the best idea in to many business owners.
Take a good look at your detailed financial analysis and you may be in for a surprise. Many business owners are not aware that between 40% and 70% of your company assets are tied up in your Accounts Receivable. What if they were all of a sudden gone? Precisely, your largest asset would be gone but your liabilities would remain the same. Accounts receivable, sometimes ignored, sometimes neglected, are now the key to successful development of business.