America’s SBDC Blog

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From Business Planning Class… To Event Planning Business

June 26, 2015
Majestic EstateSuccess Story: Iowa

•  Southeastern Iowa SBDC
•  SBDC Counselor: Janine Clover
•  Client: Majestic Estate, LLC – SBDC client since 2014

“When you start a business you don’t know what you need in terms of permits, licensing, and forms. The SBDC is a great guidance . . .” — Tammy Adams, co-owner, with sister Lorraine Guerra, of Majestic Estate, LLC.

Impact of working with the Iowa SBDC: The sisters took a business plan writing class offered by Janine Clover, director of the Southeastern SBDC in Burlington. With her guidance, they were able to put together a detailed business plan that they entered into the 2015 Des Moines County Business Plan Competition in May. Lorraine and Tammy were the overall winners of the competition and received a $5,000 seed capital grant intended to support their company’s start‐up costs.

Read the whole story, and learn more about Majestic Estate, LLC and the Iowa SBDC.

Continue Your Education As A Business Owner

June 24, 2015

continue-your-educationThis week’s blog is going to delve into territory reserved for existing franchisees who desire a continuing education for the small business owner. We feel it is also important to maintain and nurture your franchise after you’ve set up a successful business. There are many types of entrepreneurs who would deem themselves fit to run a business. But there is also a good portion of owners who feel they could be doing a better job.

That’s where continuing education for small business owners enters the picture. Several professions, such as careers in medicine, law and accounting, actually require continuing education classes—some of which are on an annual basis. It’s simply a way of maintaining a sharp acumen to your particular skill set.

Seminars are a popular choice because of the varied information presented, as well as the networking possibilities. An excellent resource website for finding applicable small business seminars and workshops can be found on the U.S. Small Business Administration Events Page. Here, you have the ability to refine a search by subject and zip code, so that you can find something that appeals to your franchise, and close by.  (more…)

Consider A Resale Franchise

June 19, 2015

consider-a-resale-franchiseYou’re considering going into business for yourself. Perhaps you’re looking into a franchise, but you’re not sure you’re ready to start a brand new franchise outlet. Even with all the support and systems in place to aid new franchisees, the thought of tackling a brand new franchise outlet can be intimidating to some. An attractive option for those individuals may be a resale franchise opportunity.

Franchises all over the country will routinely be resold by the previous franchisee for a variety of reasons. These outlets may be a little more “ready-made” for an immediate business opportunity, yet all businesses aren’t created equal. Also, you may not know which franchises are for sale.  Many times, the franchisee must work back through their franchisor in a resale opportunity.  You need to find the right guidance and investigate, there’s no substitute for performing your proper due diligence throughout the business investigation process.

Consider the following:

Finances

Look into the historical track record for the finances of the business. Ask to see balance sheets, tax returns and profit-and-loss statements. Understand from the franchisor how these numbers stack up against their other franchisees’ numbers in similar markets. Also, make sure you’re able to properly value the company based on that historical data. You may enlist the help of a knowledgeable CPA who can help determine the value of the business.  (more…)

The Power of Going Mobile for Small Business

June 17, 2015

The_Power_of_Going_MobileHow often do you pick up your smartphone throughout the day? When you wake up; when you’re standing in line for your coffee; when you get a notification? According to a study by Kleiner Perkins Caufield and Byers, the average person looks at their phone 150 times a day. With 57% of customers saying they would not recommend a business with a bad mobile site, the power of mobile for small businesses is undeniable. Here are a few tips to get started:

Put your website to the mobile test

If you’re not sure whether your website is mobile-friendly, we have you covered. This Google Webmaster test tells you if your website is mobile-friendly and shows how it looks on a mobile device. Once you have those results, use the Webmaster’s Mobile Guide where you’ll find ways to customize your website software or implement mobile SEO best practices.

Don’t neglect your mobile ads

Did you know that search interest in “near me” (aka things within a customer’s vicinity) have increased 34x since 2011? Not everyone who uses mobile is always searching directly for your product or service. That’s where mobile ads come in. If a customer is searching for a local hardware store, you can use mobile ads to make sure your store pops up where and when they need it. These ads can take many forms, including text, image or even within mobile apps. To make these especially mobile-friendly, you can also purchase call-only ads, which only show up on devices that can make phone calls.  (more…)