As with any major investment, the best decision can be made only if you’re as informed as possible. You need to spend a good deal of time researching, interviewing and exploring your options — and a part of the process is determining what the legal and financial aspects are.
As your focus gets more serious with the idea of owning your own franchise, you need to genuinely look at your financials and propose a budget with which you feel comfortable. Research the many options you have, like the Self-Directed 401K option or loans. Financing a franchise may be considered a lower risk investment, mostly because franchises have proven track records and an established trademark and brand. That being said, it is still crucial that you prepare an in-depth business plan and explore a range of options so you commit to the one that makes the most sense for your budget. (more…)
Many small business owners are masters of their industry, but when it comes to managing a company, a new and different set of skills is necessary. According to the US Census, 38% of small businesses have 5 or more employees. That’s more than two million businesses that rely on strong leadership and employee relationships to keep their companies running smoothly. This month, in honor of National Boss’s Day, we’re taking a look at what it takes to be a great leader for your small business.
The U.S. is the last developed country to migrate from magnetic-stripe (“mag-stripe”) cards to EMV¹ or chip cards. This migration will affect credit, debit and prepaid cards issued by U.S. financial institutions.