Pinoy Entrepreneurs

How much does a franchise cost? Of course the cost of obtaining and starting a franchise depends on several variables. For instance, the type of industry, size and location are some of the differentiating factors. However, there are some basics that you could keep in mind if you are contemplating becoming a franchisee.

First of all, you will usually have to pay a franchise fee, which averages somewhere between 1M to 1.5M pesos. However, the fee could be less than half a million pesos for businesses such as mobile and home-based businesses, or in some cases could possibly cost PHP 500K or more. A few examples of these more expensive franchises include building maintenance businesses and some types of athletic training facilities.

Since you are gaining the advantage of taking part in an already recognizable business name, and usually ongoing support from the franchiser as well, franchisers typically stipulate that a potential franchisee meet other financial requirements. A predetermined amount of readily available funds that are not borrowed is usually a necessity as well as a certain net worth. In order to pay for ongoing expenses that are not covered by revenue you will also need a guaranteed amount of working capital. Depending on the type of business, it is important that the working capital cover a particular length of time, ranging from a few months to possibly two to three years until the business is in full swing. The franchiser typically provides an estimate of the amount needed.

Besides the franchise fee, other up front costs could include professional fees such as legal and accounting services, insurance, and operating licenses. Employee training, inventory, and equipment are usually part of the startup as well. Also plan on, rent and possible leasehold improvements, and other costs involved in setting up a retail location including the purchase of fixtures, signs, and landscaping. You may also incur grand opening and initial promotional expense to get the business going.

Keep in mind that many times a higher initial investment does not necessarily mean a higher return. Often times franchises can be started with a total initial investment of less than PHP 1M and sometimes even less than PHP 250K. Some home-based business such as handyman franchises and marketing franchises provide a decent return with little up front cash.

Ongoing, you will need to be prepared to continuously pay royalties to your franchiser, possibly 4 to 6 percent of your revenue. Also, insurance (liability and health), inventory, and equipment maintenance would be continuous expenses. Of course, there will be employee salary and benefits. Additionally, you may be required to pay into a national advertising fund.

Before making a decision on a franchise, it is important to obtain from the franchiser a copy of the Uniform Franchise Offering Circular (UFOC), also known as the disclosure document. The up front fees are outlined in this circular. The document should describe the initial fee which may be non-refundable as well as the other startup costs. If there are any items that you believe might be a startup costs that are not mentioned in the disclosure, be sure to ask about them.

All in all, you want to be sure your financial situation will cover expenses for you and your family during the time it takes to get the business up and running. This may take several months or a bit longer than that. Keep mind your operating expenses as well as personal expenses for the first year or two in business. In order to have the best chance of success with a franchise, it is recommended you contact a franchise consultant to discuss your goals and finances. Read the rest of this entry »

The “spark” for many entrepreneurs is seeing an opportunity that doesn’t yet exist. Ted Turner, for example, launched CNN because he perceived that people wanted more television news than they were being offered. It took a lot of patience on Turner’s part to realize the vision, but he had read the market in a way that few “experts” did at the time.

In realizing the promise of CNN, Turner demonstrated another facet of the entrepreneurial spirit, persistence. There are a lot of bright ideas that never reach fruition; taking a “raw” idea and converting it into a successful business model is very hard work.

And that work never stops. No matter how innovative your idea, the competition is always just behind you. With anything less than constant creative effort on your part, they may not stay behind you.

Are you still with me? Here is where I reveal why everyone isn’t an entrepreneur:

No opportunity is a sure thing, even though the path to riches has been described as, simply “…you make some stuff, sell it for more than it cost you… that’s all there is except for a few million details.” The devil is in those details, and if one is not prepared to accept the possibility of failure, one should not attempt a business start-up.

It is not indicative of a negative perspective to say that an analysis of the possible reasons for failure enhances our chances of success. Can you separate failure of an idea from personal failure? As scary as it is to consider, many of the great entrepreneurial success stories started with a failure or two.

Some types of failure can indicate that we may not be entrepreneurial material. Foremost is reaching one’s level of incompetence; if I am a great programmer, will I be a great software company president? Attitudinal problems can also be fatal, such as excessive focus on financial rewards, without the willingness to put in the work and attention required. Addressing these possibilities requires an objectivity about ourselves that not everyone can manage.

Other types of failure can be recovered from if you “learned your lesson.” A common explanation for these is that “it seemed like a good idea at the time.” Or, we may have sought too big a “kill;” we could have looked past the flaws in a business concept because it was a business we wanted to be in. The venture could have been the victim of a muddled business concept, a weak business plan, or (more often) the absence of a plan.

When small businesses fail, the reason is generally one, or a combination, of the following:

* inadequate financing often due to overly optimistic sales projections;

* management shortcomings,

— such as inadequate financial controls, lax customer credit, inexperience, and neglect, and;

* misreading the market,

— indicated by failure to reach the “critical mass” required in sales volume and profitability,

— usually due to competitive disadvantages or market weakness.

In a recent Wall Street Journal article titled “Why My Business Failed,” Ken Elias cautions that “even if the concept is right, it won’t fly if the strategy is wrong.” Still, on being asked whether he would start another business today, he answers: “Absolutely. The experience is fabulous, exciting and the possibility of success is always there.”

If you stay at home and want to earn an income for yourself or your family, there’s never been a better time than now. With so many opportunities online, you can easily start your own home business with a computer, Internet connection, desk and chair! Whether you want to start a part-time or full-time home business, here are some excellent home business solutions to consider.

1. Make Money Online by Offering Web-related Services

If you’re skilled in Web design, graphic design, Internet marketing, or other Web-related services, you can make money online by offering these services to others. There are many homemakers and business people just like you who are getting online to start a business. They’ll need their own website, hosting, domain name, company Web logo, and Internet marketing services.

If you can provide these services, you’ll have a terrific opportunity for residual income. Many of these services are paid monthly or yearly, so the potential for success is amazing.

2. Educate Others and Work from Home

If you have special skills and love to teach, there’s good news. You no longer have to apply for a teaching job at a school or university. You can now start your own training website and teach others from the comfort of your own home. The Internet is flooded daily with people who want to increase their knowledge and skills. Many moms and dads are now offering classes, selling e-books, and providing instructional websites all while staying home with the kids. It’s a great way to make money online without paying high daycare bills!

There are also unique home business solutions online where you can sign up with a company that provides training to students for you. You can potentially earn a huge residual income by promoting their educational services.

3. Join an MLM Opportunity

MLM has grown tremendously in recent years thanks to online technology. More and more people are making money online with MLM because it’s so much easier to communicate using online resources such as email, websites, and instant messaging.
If you decide to join an MLM company, be sure the company is trustworthy. Investigate before you sign on, or find a company that will investigate for you. A good place to start is a dependable MLM directory. These companies will investigate many different home business solutions and list only those that are legitimate and that offer the most profit potential.

4. Niche Home Business Solutions

Many homemakers are earning a substantial income by offering niche products or services. For example, the mother who loves to sew baby clothing decides to sell her items through her own website or through consignment websites. Or, a father who loves to do handiwork around the house starts a “handyman” e-zine and sells related products and tools. A young college student discovers the secrets to college life and starts his or her own “college life” newsletter.

The possibilities are endless. Other niche home business ideas include baking, hunting, fishing, musical instruction, handmade crafts, handmade furniture, parenting, pets, weddings, gardening, and sports.

5. Investments

If you like to take your chances in the stock market, investing is easier than ever on the Internet. Many homemakers make money online by investing in Forex, the popular and lucrative currency exchange market. Some earn money with traditional stocks. If this is your passion, you can now do it from home with minimal effort.

Please be careful, as there are many scams with companies trying to get you to invest in fake stocks. Check out every opportunity carefully, and keep your funds safe by dealing only with reputable, well-known stock companies and brokers.

No matter which home business solution you choose, use online directories and the testimonies of other online business owners to help you find the opportunities that will fit your schedule and budget.

You’ve decided to incorporate your business, but aren’t sure how to proceed. Incorporation is a process that involves lots of decision-making, paperwork, and legal processes. Thankfully, you don’t have to go far to learn the ins and outs of incorporation. You can now incorporate online with helpful services that are just a click away. Here are five good reasons to incorporate online.

1. Never Leave the Home or Office

One reason to incorporate online is you can get all the help you need from the comfort of your own office or home. With online incorporation, you’ll have all the facts about corporations at your fingertips. The incorporation services provided online usually come from those who are experienced and can provide you with the paperwork and guidance needed to ease the process. You’ll save time and many headaches by using an online incorporation service and you won’t have to run from one place to another trying to determine what is needed.

2. State-by-State Incorporation

No matter what state you plan to incorporate in, you can incorporate online within minutes. Many online services are equipped to handle incorporation paperwork in multiple states. The services can provide you with detailed information about the state such as the fees to incorporate a business, total cost for incorporating, how long the process will take, and the steps or paperwork required to incorporate in that particular state.

3. Incorporate Quickly

Some online services may offer expedited incorporation services. This service can be useful if you need to incorporate your business in a hurry. Expedited service often costs a little more, but can be well worth it if you need it fast. By choosing this option, your business might be incorporated within 10 days or less.

4. Know all the Facts

When you incorporate online, you can know all the facts about incorporation before deciding to take that final step. You can take time from your home or office PC to read about forming a corporation, the requirements involved, and the pros and cons of incorporation. This will enable you to make an informed decision and determine the proper direction for your business.

You can also compare different forms of business, such as Corporation, S Corporation, forming an LLC (Limited-Liability Company), sole proprietorship, and partnership. For instance, to form an LLC and a corporation is similar in some ways, but very different in others. LLC formation should be carefully compared to incorporation before making a decision.

5. Save Money

To incorporate online is often more affordable than hiring an agent or attorney to do the paperwork for you. Online services are able to operate with minimal expenses by providing Web forms and information via the website. These savings are passed on to you and enable you to incorporate your business with a minimal investment.

These are only a few reasons to incorporate online, but there are many other benefits. Discover all that incorporation can offer for your business today, and watch your business soar to new heights!

The Knightsbridge Residences, also known as The Knightsbridge Residences at Century City, is a high-end residential skyscraper to be constructed in Makati City, Philippines. It will be the second of several building project to be built at the new Century City area along Kalayaan Avenue.

Upon completion, it will become one of the the Philippines’ highest building. The Knightsbridge Residences at Century City takes its name after the most expensive neighborhood in London, Knightsbridge.

Planned to be more than 50 storeys high, the owner and developer Century City Development Corporation is now pre-selling units for a 60th floor, and is still subject to increases depending on demands for more units.

Based on 60 storeys, the building will have a total height of 250 meters (820.2 feet ) from ground to its architectural top.

PROJECT FEATURES:

SMART LOCATION
The Knightsbridge Residences is connected to the holistic live, work and play lifestyle of Century City, in the heart of Modern Makati.

SMART USE OF SPACE
With podular units that are Fully-Fitted, Fully-Furnished and Combinable units for MAXIMUM FLEXIBILITY.

SEXY ARCHITECTURE
Featuring a cutting-edge curvilinear building design decked with lanterns that gloriously sparkle at night.

SEXY INTERIORS
With 5 exceptional design themes to choose from, as well as superbly-designed lobbies and hypersized common amenities that will amplifly your sense of home beyond the four corners of your unit.

SEXY VIEWS
Affording you with 360-degree panoramic views fo the Makati skyline, Rockwell, Manila Bay and Ortigas.

AVAILABLE
The opportunity has come for you to make wise investment, with low monthly, Interest-Free Payment Options.

1BR, 2BR, and 3BR unit configurations available

For more info, visit my link page

Luis Nieva
Account Manager
Century Communities Corp.

Email: luis_nieva@yahoo.com
Mobile: +63 927 7968939

Skype Id: luis-nieva
YM id: luis_nieva
(Available all the time, 24/7 at YM)