Category: Advertising & promotion

Time to Grow Your HBB

Time and money

Treasure vis-a-vis pleasure!

If you are a home-based business (HBB) owner you probably find yourself spending more time, money and energy promoting and advertising your products/services than your fellow business owners who operate in a commercial/retail space and derive exposure benefits from their sidewalk stores being readily accessible to “walk-in” traffic, and the owners’ personal interaction (physical handshakes?) with customers/clients and potential customers/clients.

HBB owners in general spend their busiest hours creating content for advertising and promotions, as well as content for their websites/blogs in order to drive traffic to their business website; but just saying they’re creating content is a bit too simplistic, because content is required in so many different formats, variations and expressions that its creation becomes a time-consuming task. HBB owners – for the most part – are sole proprietorships, small partnerships or single member LLCs which, when translated, means that they have to complete tasks themselves or pay professionals to do the work so that they can attract buyers.

So if you are a HBB owner who has been spending hours creating content for your business website or blog, instead of developing product ideas and methods to help your business be profitable (more profitable?), you may want to reduce the time spent on creating content (and not pay huge sums to promotional/marketing pros) by looking into private label rights (PLR) and private label resell resell rights (PLRR) products. The very nature of these products – by design – is to free up the bulk of their user’s time, which can then be devoted to growing his/her home-based business, and you can derive the same benefits. PLR products can be a valuable asset to you, personally, and to your business based on the following benefits which can be derived from their use.

Content

PLR users have instant access to a wide range of high-quality content that is ready to use, saving them valuable time and effort in content creation. They can choose from a variety of formats including e-books, articles, graphics, training, PDFs, software items, templates, audios, images, and videos, allowing them to create diverse and engaging content for their audiences.

PLR and PLRR products are delivered with licenses that will permit users to customize and rebrand them and match the new owners brand, giving him/her the freedom to create a unique and professional image for his/her business. But perhaps the most attractive feature of these products is the minimal cost at which they can be acquired, because prices are the lowest found in the digital marketplace, making it cost-effective to build your content library and provide value to your audience without breaking the bank.

Make these tools your tools!

Also, keep in mind that you are almost certain to access many PLR and PLRR products free of charge so you can get started using them without any financial commitment, allowing you to test the quality and suitability of this type of content before making a purchase. You can find a solution for different content needs, and whether you require website/blog content, PDF reports, or email content, there are PLR products for all your content creation requirements.

Valuable info

Also, it should be mentioned here that, PLR and PLRR products can easily be repurposed and remixed to create new and fresh content, enabling you to continuously engage your audience with valuable information. Users can stay on top of industry trends and topics by accessing regularly updated PLR and PLRR products, thereby ensuring that their content remains relevant and timely.

So with the use of PLR & PLRR products, you may be in the best position to avoid the stress of writer’s block by having access to a vast library of pre-written content, allowing you to consistently publish content and maintain a consistent online presence for your business and accomplish the primary goal of freeing up chunks of time to focus on other aspects of your business. Think of it as, outsourcing content creation to PLR and PLRR products at minimal cost while freeing up your time to work on strategic initiatives and growth. Best wishes and good luck to you!

On a different note…

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Oxygen. Money. Done! Any questions?

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An Extensive Checklist for Franchise Buyers

Big ideas

Franchise businesses like Wendy’s, McDonald’s, and Jack-In-The-Box have experienced significant success over the past few decades. This suggests that those who formulate franchise ideas and establish businesses possess a keen eye for profitable opportunities.

However, it is crucial for potential franchise buyers to thoroughly investigate and analyze the franchise they are considering before investing any money. To aid in this investigative process, we have compiled a list of questions you should ask. Remember, it’s not just about asking these questions; obtaining satisfactory answers is equally important. Here is the checklist:

Due diligence

1. Has your attorney carefully examined the franchise contract and thoroughly discussed it with you? Do both of you approve it without any reservations?

2. Does the franchise require you to engage in any illegal, borderline illegal, or questionable activities in your state, county, or city?

3. Does the franchise offer you an exclusive territory for the entire franchise term, or can the franchisor sell additional franchises in your territory?

4. Is the franchisor affiliated with any other franchise companies that handle similar products or services?

5. If the answer to the previous question is yes, what safeguards are in place to protect you from potential competition within your territory?

Exit ramps

6. Under what circumstances can you terminate the franchise contract, and what will be the associated costs?

7. If you decide to sell your franchise, will you be compensated for the goodwill or will it be lost?

8. How many years has the franchise company been in operation?

9. Does the company offering you the franchise have a reputation for honesty and fair dealing among its franchisees?

10. Has the franchisor provided certified figures indicating the exact net profits of one or more franchisees? Have you verified these figures with the franchisees personally?

11. Will the franchisor assist you with: a) Management training; b) Employee training; c) Public relations and advertising programs; d) Capital investment; e) Credit availability; f) Merchandising ideas?

Location, stability, training

12. If necessary, will the franchisor help you find a suitable location for your franchise?

13. Is the franchisor financially stable enough to execute its stated plans?

14. Does the franchisor possess competent, well-trained management?

15. What specific benefits or advantages does the franchisor bring that you cannot achieve on your own?

16. Has the franchisor conducted a thorough evaluation of your capabilities to ensure a mutually profitable operation?

17. Does your state have a law regulating the sale of franchises, and has the franchisor complied with this law to your satisfaction?

18. What amount of equity capital will you need to purchase the franchise and operate it until your income covers your expenses?

Promising success stats

If you are able to obtain satisfactory answers to each of these questions, then you are likely considering a promising franchise opportunity. However, if any doubts arise, make certain to conduct further research to gather accurate answers before making any investment or signing any agreements.

Buying a franchise can provide a sense of security and, in some cases, a guaranteed profit. Research shows that less than 20 percent of franchised businesses fail, in contrast to the 60 to 80 percent failure rate for new businesses started annually in the country.

You can find information on specific franchising ideas in franchise directories that are typically available at your local library. Additionally, franchise outlets may display notices relating to franchises for sale.

Oxygen. Money. Done! Any questions?

If you have the financial means to enter this venture, remember that statistics are in your favor. Armed with caution and a comprehensive checklist, you now possess a roadmap to guide you through the process of purchasing a franchise.

For all your Tax Tools & Financial Calculators, or to schedule an appointment to get your taxes prepared and e-filed, please visit Concierge Tax Pros, our highly recommended tax preparation office website.