America’s SBDC Blog

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Turning Passion Into Reality

August 24, 2015
Vermont-Fitness-UnboundSuccess Story: Vermont
  • Vermont SBDC
  • SBDC Counselor: Ross Hart
  • Client: Fitness Unbound

“We needed help with our financial proposal and business advice from someone with more experience. [VtSBDC] advisors were very, very helpful throughout the entire length of the process – over three years!” Matthew Wells, Co-Owner, Fitness Unbound

Impact of working with the Vermont SBDC: First and foremost, the company needed funding before anything else could get started. Wells said the advice he got from his VtSBDC advisor was pivotal in making that happen. The pair went to work drafting and revising a business plan and financial projections that lenders would be responsive to and were eventually able to secure and finalize start-up funding for the business. VtSBDC advisors also helped the company work through the other challenges they had encountered up to the day they opened their doors in late 2014.

Read the whole story, and learn more about the Vermont SBDC.

Moving From Employee To Franchisee

August 21, 2015

from-employee-to-franchiseeHow many of you have spent your career advancing to the Executive Suite, only to find out it was not what you really wanted? Or, perhaps the company to which you devoted the majority of your career was sold, merged… or just decided they did not need your position anymore?

That happened to me. I got the education I needed to be successful in Corporate America, and I worked my way up the career ladder. But, I have to tell you: I was not happy with what I found there. I had no work/life balance, and what good does it do to live in paradise if you can’t find the time to enjoy all it has to offer?

In 2007, I was downsized. It was the best thing that could have happened to me! While I started out looking for another job, I just could not get excited about anything I found. Fortunately, I was introduced to franchising. Like you, I once believed that franchises were all fast food or retail stores. I thought that I couldn’t afford to buy one. I was afraid to be a business owner because I didn’t think I had the experience to succeed as a business owner. I was very mistaken!  (more…)

Construction Company Builds With Government Contracting

August 20, 2015
Freeland_Construction-South-CarolinaSuccess Story: South Carolina

“As long as we are able to utilize the SC SBDC, I know we’ll have the business advice we need to make those all important connections, find good job prospects and move forward in a sound way. The Small Business Development Centers network is one of the most underutilized but most necessary services the government offers.” – Kenneth Cantey, CEO, Freeland Construction

Impact of working with the Charleston Area SBDC: Government procurement, maximizing 8(a) opportunities.

Read the whole story, and learn more about the South Carolina SBDC and Freeland Construction.

Louisiana #SBDC Network Shares Its Rebrand Story

August 19, 2015
LSBDC drops old suit and goes red, white and blue

You’re not part of the team until you put the uniform on, and you’re not part of the family unless you share the name. The Louisiana Small Business Development Center (LSBDC) took note and dropped its old colors to join the America’s Small Business Development Center (America’s SBDC) network theme of red, white and blue, as part of a rebranding effort that was completed in May, 2015.

LouisianaSBDC-logoThe rebranding was designed to connect closely with the national network, but the LSBDC mission remains the same – to provide comprehensive, high-quality assistance to small businesses, and to business entrepreneurs.

“Our new brand serves as a visual representation of the strong connection that we have with our national network of SBDCs across the country,” said Rande Kessler, LSBDC State Director.

The LSBDC worked with several Louisiana-based small businesses including Branded Company of Louisiana, LLC, to develop its print and digital collateral; NMD, Inc. & eMerge enhanced its web and social media presence; and Elephant Quilt Productions developed a series of training tutorials.  (more…)

How To Select A Franchise Attorney

August 18, 2015

legal-scalesAfter you have narrowed your search for a franchise business to THE ONE that best fits your personal and professional goals and financial resources, it’s time to engage the services of a qualified franchise attorney to review the associated Franchise Disclosure Document (FDD) and the franchise agreement contained therein. While you might be tempted to hire an attorney at a far earlier stage in the due diligence process (let’s be honest: navigating through an FDD is far from “reading for pleasure”), the investment is not warranted until you are ready to become part of a particular franchise system.

The Value of a Franchise Attorney

The Federal Trade Commission requires that the FDD be written in “plain English.” No such restrictions pertain to the franchise agreement itself, however. You will want an attorney, who is experienced in franchise law, to review the contract to ensure that it is within the norms for franchise agreements, which are notoriously slanted for the benefit of the franchisor. If there are some provisions that need adjusting, your attorney can negotiate those on your behalf. Additionally, your franchise attorney can help you determine the best legal entity for your franchise business, as well as assist you with the numerous other legal matters that accompany business ownership. There is no standard fee for the review of the FDD and franchise contract, and they can be wide-ranging. So, be sure to ask before engaging your attorney’s services.  (more…)