How to Manage Small Business Startup Costs

If you are looking to start your own business, it is very important that you determine your budget needs well in advance. Things such as business furniture, electronics and other things that will be required for your business need to be determined early in the start phase of the business. Estimated startup costs for a business usually depends on the type of business and the stage of development it is in. there is no universal method for estimating startup costs since the size of the business may vary. There may also be some additional costs such as the cost of acquiring or renovating a building or purchasing long terms equipment for the business. It is also important to keep in mind that business startup costs are tax deductible. Determining how much capital you need in order to get the business started is very important when you are looking to finance your small business. Continue reading

Franchises Under $5k – Are They For Real?

There are a number of ways in which you can start your own business each with its own degree of risk. For instance, if you are good at carpentry, you can start your own woodworking shop and turn a profit within a year or two. However, it is not every one that has a skill that can be directly translated into a new business that will end up giving you a comfortable living. In case you are in this category, franchising is a great way since there is plenty of support that is provided by the franchisor. Starting low also takes away much of the risk involved in franchising.  In the next few paragraphs, we take a look at a number of viable opportunities in the form of franchises that you can buy with just an initial investment of less than $5,000. Continue reading

5 Cost Effective Ways to Marketing Your Small Business

The success of a small business usually depends on how well it is known to potential customers. This is achieved through various methods of marketing and advertising. Advertising your small business to potential customers comes in very handy when you are starting up and there are not a lot of people who know about the business. In the next couple of paragraphs, we will take a look at some small business marketing tips that can help you get your small business up and running in a short time. With marketing, it is possible to get your first customers quickly and break even in much less time. Continue reading

3 Steps to Systematizing Your Business

Did you know that you can make your business processes much more efficient? Well, with business systematization, you simply need to put in place a mechanism that will systemize your business activities making it much easier to streamline business operations. There are a number of things that you can do in order to achieve this and this is what we look at in the next few sections. Read on and discover a way to make your business much more efficient from now on with just some effort at the beginning. Please note that systemizing your business allows for predictable growth with less work on your part once you have the system in place. Continue reading