Category Archives: Market and Franchise

Own A Franchise Financial Conversations To Have With Your Family Before Choosing A Franchise

Guest Blogger: Ray Moore, CFE, Vice President of Development, BrightStar

The successful franchisee will first and foremost find the right fit. The right fit may be the one that best fits his or her financial resources and goals. The potential franchisee should sit down with their spouse and family and ask some hard questions. Together they will have to decide what outcomes they need to realize to consider this venture a success. They will have to separate out the must have or non-negotiable outcomes before shopping for a franchise opportunity.

The couple/family should agree to the following each family will have to fill in the blanks according to their own circumstances. Its a good idea to consult an accountant:

1.We will not invest more than $_____ of our cash/liquid capital.
2.We will not borrow more than $______ in additional funds to capitalize the business.

With any start up, business owners need to have enough money, either set aside or in other income, to cover household bills and run the business for 12 to 18 months. The following questions will help determine how much is needed:

3.To make sure we can still live comfortably while growing the business, we will cut our household budget to $ ____ per month for at least ____ months and be sure to never exceed that budget.
4.We will only buy a franchise that we have confidence can get big enough to feed itself, i.e., income (cash flow) will cover monthly business expenses (fixed and variable costs), no later than ___ months after signing the agreement.

With many new business start ups, the owner will not be able to take a salary for 1-2 years. The family needs to know that household expenses will be covered during that time.

5.We will only seek a franchise for sale that we have confidence will be able to pay me a discretionary salary (enough to cover some or all of household expenses) without harming the business no later than ___ months after signing the agreement.
6.We will generate other income of $___ (amount needed to make up for loss of other income and savings budget) from ___ (spousal income, other household income or investments) independent of the new franchise business.
7.We will only pursue a franchise business opportunity that will allow us to have our initial investment back, i.e., pay off the start up loan from business income, in ____ months/years.

These are just some of the items that typically come up, or should come up, during the conversations leading up to buying a franchise. Asking the right questions will get you the answers you need. Ask them of yourself, your spouse, your family, the franchisor and other franchisees so you can get the full picture of what your life will be like while building your business, and what it can be like once you have established your new franchise.

Ray Moore, CFE, BrightStar

The Importance Of Hospitality Marketing For Your Business

If you’re one of the people who are doing business in hospitality trade, then, I am certain yu will perceive how a lot of work it involves. On high of that, the hospitality trade have also got a huge competitor. Here,you just cant rely on one supply to plug your services and your entire business. You should proactive and you should constantly be on your feet. If you’re caught flat-footed, it will cost you. In such trade whihc has so a lot of competition, you need to invariably be willing to use standard and unconventional tactics.

Marketing is definitely no different in the hospitality industry. In fact, the hospitality business has such an aggressive competition in this market just as a result of this can be a business that is very seasonal and relies on very volatile situations. It will be always necessary to cope up with the competitin out there through the use of different Marketing methods. One price-effective and economical Marketing strategy that companies or small-businesses use is that the internet.

Before more going into more details, you’ve got to perceive that the hospitality industry is completely different from other industries. In this business, most of the cash is made in peak seasons where everyone tends to go out of town. The window of opportunity is terribly short, and thus, you have got to work double time. If you miss this window, you are either going to have to attend for the following one or you’re going to possess to work for more customers during the lean season. The internet may be a very useful tool because with this, you can market your business twenty four hours a day, seven days a week. Just imagine what that might do for your business if you are doing it well.

In hospitality Marketing, like in all other industries, you first have to acknowledge your market. The rationale for this can be as a result of it’d be more economical and it would be a lot of economical. In this industry, you only cant market your business to everyone. That may be too expensive and it would need too much work.

Once you’ve got found your target market, you can now begin making your campaigns. Your campaigns can embrace designing your webpage, creating advertisements, and the particular process of getting your word out. Its all about being economical, which is why the net is the first place that you should go to. In the web, you can a lot of or less target any demographic and you can fine-tune each campaign to your specific market.

The 6 Ws Of Target Marketing

As with any full color printing ad that you create, theres one thing that you should know when you plan- who is your target market?

Defining your target market means focusing on target clients that have the potential to become definite buyers of your product or service. They are the ones who have a need for your business. They are most likely small groups that have the same needs, wants, problems, issues, interests, and experiences.

When target marketing, not only do you customize your color printing to address the needs of your potential clients; it also allows you to limit your costs so you can work according to the resources available to you.

So who is your target market? In order to get those who would actually buy from you, you need to know the 6 Ws of target marketing:

Who?
Who would benefit most from your product or service? Who has the most potential to buy from you? Are they men or women? Does your product create excitement among the young generation or the much older ones? Is your target market family-men or are they single-working moms?

What?
What do these target clients want to buy? What are their interests? Are they easily keyed up everytime a new model of mobile phone comes out of the market? Are they a techy-kind of clients? What do they mostly purchase each year?

When?
When do they usually buy- when they have the money or when they need it? During sales or even on regular days? When do they shop? Do they enjoy wrestling with so many people during sales? Or they would rather buy after everyone has stopped the buying frenzy? Do they buy on impulse?

Where?
Where do they usually buy- at the local grocer or at the mall? Do they drive to out-of-the-way shops to get specialized items? Do they get excited when they see thrift shops or outlet stores? What about garage sales?

Why?
Why do your target clients want to buy? Because they need it or they buy it on a whim. Do they actually believe that your product or service is effective?

HoW?
How does your target market buy? In bulk? Are they interested more on single purchases? What about buying wholesale?

So who is your target market? They are the ones who satisfy the 6 Ws of your marketing campaign. For your next color printing
ad, understand your target market and create a marketing campaign that answers your target clients needs and wants. Not only would you be able to have an effective ad in your hands, but gain as many clients who you can benefit immensely in the process.

Heat Recovery Steam Generator (hrsg) Market Analysis To 2020

The increasing global demand for electrical power and the simultaneous rise in environmental concerns and legislation are the major drivers for the Heat Recover Steam Generator (HRSG) market. The global power market is at present strongly focused on issues related to climate change, in order to meet government-mandated environmental targets and also in order to reduce dependency on imported energy. The market participants have recognized the profound need for sustainable development through a well balanced energy portfolio inclusive of energy-efficient technologies. It is believed that Combine Cycle Gas Turbine (CCGT) is the solution for all such energy-related questions. Moreover, international agreements such as the Kyoto Protocol have reduced the outlook for coal-fired generation as the world looks to decrease the level of harmful emissions put into the earths atmosphere. These stringent regulations on companies generating power from coal, the worlds most utilized source for power generation which is also the most carbon-intensive source, have resulted in the growth of the HRSG market which is used in CCGT plants. These rules and regulations are expected to drive the market in the long term, as they are expected to become more stringent, ultimately increasing sales.

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Additionally, the demand for higher efficiencies and the availability of larger government incentives and rebates are expected to augment market growth. The increase in economic activities around the globe, especially in countries such as India and China, are also expected to spur the demand for the HRSG market.

The global recession and decline in power demand have fostered uncertainty about natural gas prices. This has created downward pressure on new investments worldwide. Cancellations or delays of utility programs and financing issues are plaguing the power generation market. This is expected to result in a gradual decline in sales, due to the lower demand for new installations of HRSG systems in the short term. The global HRSG market generated revenues of $1.54 billion in 2009.

This report gives detailed information on the Global HRSG market and provides historical and forecast numbers for revenue, volume, market share and average price up to 2020. The research analyzes trends in the global HRSG turbine market and also detailed analysis for the leading countries in HRSG business. This coupled with competitive benchmarking of the top market participant provides a comprehensive understanding of the markets competitive scenario

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Attractive Tarpaulins For Market Stall Covers And Fire Retardant Tarpaulins To Protect Against Fire

Tarps are the best and perfect material for Lorries or any traders who work outside. A tarp generally is used to protect people from the elements most specifically rain. Tarpaulins find wide application in market stalls and to protect against fire. Market stall covers helps your stall to stand out from the rest of the stalls with its eye-catching attractive colors. Flame retardant tarpaulins are invaluable when used to give a worker shelter against the elements when they are using flame whether that is through welding or another activity.

Market stall tarpaulins are UV stabilized to inhibit material degradation and color fade. They are produced with a dense weave and extra heavy polyethylene coating on both sides for super strength and durability. Market stall tarpaulins come in three different shades like, red and white striped, green and white striped, and blue and white striped. Red and super white striped tarpaulins are ideal for market stall covers, awnings and patio covers. These tarpaulins are strong, durable and eye-catching, helping your stall to stand out of the rest. They are UV protected, water proof, rot proof, shrink proof, flexible and easy to handle with eyelets at one meter interval and a plastic patch reinforcing the four corner eyelets. These market stall tarpaulins consist of a top and bottom layer with a polythene weave sandwiched between. Apart from being used as a market stall covers they find their application in external storage, agriculture, home and garden and building and construction.

Most of you are aware of flame retardant tarpaulins, it have many usages and find its application in many trades like campers, builders, boat owners, house hold use and so on. Flame retardant tarpaulins are always effective and they are used by people to protect them against fire. One important and valuable reason to choose fire retardant tarps are they are thicker and you can choose them from many sizes that suits you the best. People take all protective measure to protect them from all elements, and then why not fire? Just because it has not happened yet and thinking it will not happen. To protect yourself and your property it is always best to choose for a fire retardant material that will offer maximum coverage and protection. It is all well and good being protected from rain but what if there was a fire; you and your goods would be damaged, so always choose for fire retardant tarps. The fire retardant tarps are great tarps to protect against static electricity. These flame retardant polyethylene tarps or fire resistant tarps are built with the highest of standards.

Herpes Zoster Therapeutics – Pipeline Assessment And Market Forecasts To 2017

The herpes zoster market is predicted to witness a significant rise over the next few years following the launch of two vaccines in major markets. In 2006 Merck launched zostavax, which is the only vaccine approved in the US for the prevention of herpes zoster. It is awaiting its launch in other major markets, expected in 2011. GlaxoSmithKline Biologicals GSK1437173A vaccine is under Phase III trial and is expected to launch in the coming years. GlobalDatas analysis suggests that the global herpes zoster market was worth $651m in 2010. The market is forecast to show a rise in compound annual growth rate (CAGR) of 11%, following the patent launch of vaccines GSK1437173A and V212 (Zostavax) in major markets.

GlobalDatas pipeline analysis revealed that there are nine candidates in the various stages of clinical development. Phase II has five pipeline molecules. There is only one molecule in Phase I. However the molecules ARYS-01 by aRigen Pharmaceuticals, EPB-348 by Epiphany Biosciences, and ASP2151 by Astellas Pharma Inc. are expected to be promising candidates for the herpes zoster market. The pipeline molecules differ from each other in terms of mechanism of action, and can further capture the current market on approval.

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prescribed by medical practitioners to treat the symptoms of the disease. To reduce the risk factor and prevent the disease, adults above 60 years of age are vaccinated with zostavax, which is a live attenuated vaccine developed by Merck & Co.
The unmet need for the herpes zoster therapeutics market was estimated to be approximately $87m, and for the prophylactic market it is estimated to be $79m. Currently there are significant patient populations that are likely to switch over to new products with better efficacy and safety.

GlobalData, the industry analysis specialist, has released its new report, Herpes Zoster Therapeutics – Pipeline Assessment and Market Forecasts to 2017. The report is an essential source of information and analysis on the global herpes zoster market. The report identifies the key trends shaping and driving the global herpes zoster market. The report also provides insights on the prevalent competitive landscape and the emerging players expected to significantly alter the market positioning of the current market leaders. Most importantly, the report provides valuable insights on the pipeline products within the global herpes zoster sector. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalDatas team of industry experts.
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Factors To Consider When Choosing A Market Research Company

Have you considered using the services of a market research company to improve business for your company? Using the services of a market research company can be beneficial to business owners and managers. If you haven’t considered using market research services, you may want to examine the benefits of conducting market research. However, finding the right company to handle your market research needs can often be more difficult than making the decision to implement marketing. Considering a few factors will help you choose a market research company that will best meet your needs and leave you feeling happy with the decision you made to conduct market research.

One thing to consider when selecting a market research company is experience. You will want to use the services of an experienced market research company to handle your company’s research needs. Depending on the type of research your company, market research can often be costly for your business. However, the cost of market research is well worth it if the results provided will benefit your business. This is why it is important to choose an experienced company to handle your market research needs. You want to be sure that the results you get are accurate and effective. If a company is experienced, they will know how to gather the right data for your company and show you how the data collected can be of benefit for you. Experience is key when it comes to market research, and you will want to choose a company that knows what they are doing and how to best meet the needs of your specific business.

Another thing to consider when choosing a market research company is the type of research they are capable of doing. Different companies require different types of research. As such, your research needs may not be the same as another company’s. Therefore, you will want to discuss your research options with research companies and find out all of the avenues of research available to you. You will then want to find out which type of research would best benefit your company and learn why you should opt for one type of research over another. Once you know the type of research that needs to be conducted, you will want to be sure that the company you choose to handle your research needs is capable of collecting data in the manner you need it collected.

Another thing to consider when choosing a market research company is quick-turnaround. You want to be sure to choose a company that can provide quick, accurate results so you can move forward with your marketing plan.

Differences Between Starting From Scratch And A Franchise

Are you contemplating starting a new business? There are some things that youre definitely going to need to think about before heading down that road. Lets talk about a few very important options youll need to consider.

The most difficult part of any new business is getting it started. Youll have a lot of administrative stuff to figure out, and youll need to start getting clients right away. Youve undoubtedly heard that 80% or so of new businesses fail in the first 2 years or so. This number will fluctuate depending on the industry and where you get your numbers from, but in the end its been shown the most new businesses fail.

So why do most new businesses fail? Well, there are a couple of common reasons. One is that a new business fails to advertise like it should. So they fade into nonexistence. This ties into the second common problem which is just running out of money. There are a number of causes for this, but if you run out of money you are pretty much out of business.

Im not trying to demotivate you. But you need to be aware that there are things you can do to improve your chances. Lets look at one.

One way to give yourself a better chance of surviving as a new business is to start as a franchise instead of a brand new business. There are a couple of reasons why this is a good option. First of all, the franchise will teach you how to run their system. They already have a proven track record that will get you started right.

Another great benefit of starting a franchise is you get brand recognition. No one has heard of Bills Best Burgers, but they have heard of McDonalds, Burger King, and a number of other franchises. With all the advertising the franchise does nationally you get immediate recognition when you open your store.

You dont have to just open a franchise in the food industry. You can also open them in just about any other industry you can think of. There are franchises in electronics, batteries, ink cartridges, clothing, and tons of other industries.

So there you have it. Do you start everything from scratch or do you start a franchise? One is definitely a more expensive option, but you will have a much better chance of long term success.

The Benefits Of Paid Search Marketing

When a company is ready to start marketing via the Internet, Paid Search Marketing (Pay Per Click or PPC) is the fastest and easiest way to to get page one visibility on the major search engines and attract qualified prospects to their site. It can be launched in a few hours, and it can produce dramatic results rapidly. It is a great way for a company to start using Internet Marketing techniques to grow their business and increase their top line. There are a number of benefits to PPC campaigns, including:

Precision: PPC enables you to be very precise in putting a targeted offer in front of a specific segment of the market. By identifying specific key words, creating unique offers, and writing tailored ads, you have a tremendous amount of control over who sees your ad, what offer they see, and where they land on your website.

Targeting: Another aspect of precision is the ability to target your market geographically, demographically, and by time of day and day of the week. When combined with keyword specificity, unique offers and well written ads, you can focus very tightly on the target market you are trying to reach. This ensures that the majority of people viewing your ads are qualified prospects.

Speed and Simplicity: This can be looked at two ways. First, while doing PPC right can be somewhat complex and time consuming, planning and executing a campaign can be accomplished in hours. Also, this refers to how quickly and easily a prospect can move through the buying process, a matter of a few minutes, when clicking through to a well designed landing page and taking the desired action.

Financial Control: PPC provides the advertiser with complete control over how much money is being spent. A daily budget can be allocated, then changed depending on results of the campaign, and to take advantage of changing business conditions as they occur.

Length and Scope of Campaign: A PPC campaign can run for any length of time and can be very narrowly or broadly targeted. This enables the advertiser to use a campaign to accomplish different things, from delivering targeted offers to a narrow market segment for a short period of time, to more broad based branding and awareness.

Monitor and Measure: With the excellent analytics tools available today, PPC campaigns provide complete transparency and make it easy to monitor the progress of a campaign as well as the results to date and ROI.

So, when you are ready to start marketing via the Internet, a great place to start is with paid search marketing. You can start up a campaign in a matter of hours, deliver a tailored offer to a precisely targeted market segment bringing them to your website, you can have complete visibility into the results of the campaign, control your budget, and you can start or stop at any time. What are you waiting for?

How Swot Analysis Helps A Market Research Company To Analyze The Market

SWOT analysis is a valuable tool in the kitty of a market research company. The company provides detailed market research reports for their clients in a particular industry. It employs various methods and techniques to collect, gather and analyze the information about different companies in a particular market and a particular sector. This analysis determines where a particular company fits between its internal and distinctive capabilities and external opportunities and threats. SWOT stands for Strengths, weaknesses, opportunities and threats of an organization.

The SWOT analysis is performed for each organization to assess its strengths and weaknesses and to get required insight in the potential and critical issues that can affect a venture. These processes are comprised of three important phases where it determines the strategic issues, the strategy and the implementation and monitor of the strategies.

Determining the Strategic issues relevant to a firm

A market research company starts this analysis by determining the firms position in the relevant industry. It also determines the companys position in the general environment. They also determine the internal issues, external issues, opportunities and threats that affect companys prospects. They analyze and rank the external issues according to probability. It also lists other strategic factors, external or internal that can affect the competitive position of the company in the long-term.

Identifying the Strategy

Next important step is the identifying the capability of the firm to fit into its internal capabilities and external environment. In addition, this process also requires designing alternative strategies for addressing vital issues. The market research company makes use of critical SWOT matrix to identify the strategies.

Implementing and monitoring strategies

After identifying the strategies, the next job is to implement and monitor the strategies. It includes assigning responsibilities, allocating budget and then monitoring progress and reviewing the process from the beginning.

Conclusion

Market research offers the great insight about the market and the consumers. In addition, keeps the company updated of changing tastes of the consumers to help it cater to the changing consumer tastes. The market research companies make use of SWOT analysis to develop corporate, product and marketing strategies.

With the help of this analytical tool, the company can work towards improving the strengths of the clients company and reducing the weaknesses. It can help increases strengths by making targeted efforts such as building strong brand name, increase market share and improve the skills. Though the company does not have any control over the external opportunities and threats, by increasing the companys strengths, it can help them grab opportunities.

SWOT analysis helps in situational analysis and can help in analyzing the present situation and make best use of it. The firm can use the forecast given by the market research company in its report to devise the strategies to counteract the problems and exploit the opportunities. Lucintel is among the leading market research companies providing their valuable services to global clients.