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Computer Repair Franchises: Buying an Existing Business

Existing computer repair franchises are typically available immediately and are a good option for professionals looking to start a new business in the computer industry. Before deciding to buy a completely new franchise or an existing computer repair franchise, as a prospective business owner you must learn about all the issues involved in buying existing franchises so you don’t risk being surprised by the unexpected down the line.

Advantages of Existing Computer Repair Franchises

Computer repair franchises already in existence already have an established performance history. Because of this, you don’t have to spend precious time evaluating business potential and can focus on looking at actual earnings. The franchises you want to buy will have a good reputation in their communities and already have loyal clients.

When you buy existing computer repair franchises, you also don’t have to worry about finding a location, negotiating a lease or stocking your store with equipment. Similarly, there is no need to hire new employees because the business already has a well-trained staff. With many elements already in place, buying an existing franchise will help you start business much more quickly.

Disadvantages of Existing Computer Repair Franchises

You should investigate an existing franchise before you buy it. Why is the franchisee leaving? If it is for reasons other than retirement, a career change or other issues of that nature, the franchise might not be worth the investment. Perhaps the location isn’t making money anymore. Regardless, thorough investigation is necessary.

As a prospective owner, you need to look through all renewals. Sometimes your purchase will only be good for the remaining time on the agreement while other franchises offer new renewals. Also look at lease renewals to make sure they will be renegotiable when your time is up.

Considering advantages and disadvantages of purchasing existing computer repair franchises will help you make the right decision about whether to buy them. They can be good investments if they are profitable and have a good reputation.

Financing a franchise. The BIG error!

So you fancy a franchise eh?

You like the sound of the whole ‘in business for yourself, but not by yourself’ thing. You’ve done your research and you reckon you can see the way ahead. You reckon your future lies under the banner reading ‘Franchise’.

Then you come up against the $64,000 questions…

1) How much will it cost?

2) Can you afford it?

Now if you are at all human you will have done what every prospect on the path to making a purchase of any sort does. You will have pictured what it will be like to own that franchise. Which is perfectly understandable.

BUT

You are also laying yourself open to the biggest mistake that prospective franchisees can possibly make. You see you can be in danger of letting your judgement be affected by a fatal affliction that is the cause of huge misery in many walks of life, but especially in Franchising. That affliction is

OVEROPTIMISM

Even the most level-headed individual is prone to it from time to time. Most of the time you get away with it, but in franchising there are several things that make this a hugely dangerous problem. That’s because of the following points:

1) The prospective franchisee (You?) is often not experienced in the world of small business finance, so they are leaning heavily on others to provide that experience. The major supplier is frequently the franchisor. A person or company who has a different agenda to you. They want to grow their business and while they don’t want you to fail they are certainly more willing to risk your future they you might be.

2) You may not be experienced in finance and cannot pull together a cash flow forecast.

3) You may know exactly how much you’ve got to spend and believe that it ’should be enough’.

4) Your optimistic assumptions are based on doing as well or better than others already in the field.

5) You haven’t factored in what you really need to live on. What will see you on the short road to bankruptcy is a failure to recognise that these problems have to be acknowledged and dealt with. Optimism will mask these unpalatable facts sometimes until it is too late.

So to avoid disaster:

1) Create several cash flow scenarios. Yes, be optimistic, but also be neutral and pessimistic too. Then look at the pessimistic forecast. Now be even more pessimistic. Can you afford to fund the franchise and yourself at that rate of proft?

2) When you think you’ve covered the options take your thoughts along to a friend or somebody who’s opinion you value and who you can trust to give you their real thoughts rather than what you want to hear. Tell them you need to check the reality of the deal.

3) Take your proposition along to a local accountant or book keeper. They will give you their advice for a fixed fee and it needn’t cost the earth. If you are worried about the cost, try to compare the cost with the amount of money you could lose. I suddenly looks a little better doesn’t it.

4) When you are lying in bed in the still of the night ask yourself if you are really sure that the numbers stack up. Are you really certain that you are being realistic rather than optimistic.

5) Take another look at the numbers that the franchisor is giving you as an example. Ask yourself exactly how you are going to replicate the numbers that they are quoting. If they are suggesting that you can make quarter of a million in the first year, ask yourself whether you can really make that money - where are the customers coming from in the real world rather than on paper.

6) Look again at the assumptions you are making and decide what would happen if the assumptions were slightly out? Would it be a disaster or would it be OK.

Finally make sure you do every bit of research you can think of, and get a really good guide to help you create the structure for your investigations. You may want to consider my book - www.realworldfranchising.com. It covers all of these items in more depth and a lot of others too.

Specializing In Franchise Law

Every year the number of individuals seeking law degrees grows and grows. Many of these individuals start without knowing which type of law they wish to practice or specialize in. They soon realize that there are many areas within the law category in which they can specialize. The problem then becomes that there are so many options it becomes hard to decide. One of the areas one might choose to specialize in is franchise law. This is a sector within the law category that has been and continues to be one of the fastest growing. The good news is that lawyers who specialize in franchise law continue to be in very high demand.

While it’s true lawyers outside the franchise law community tend to look down their noses at franchise law it is without question a very necessary and equally as important sector. Those within the community don’t seem to mind. Going on about the practice of law and earning ever increasing salaries.

This rather precarious situation leaves the doors wide open for many wishing to specialize in franchise law. This because the industry is not very well served and is in constant need of new franchise lawyers. Any young attorney coming into the franchise law community who works hard and learns the ropes quickly has the opportunity to literally write his or her own ticket.

If you are now considering working as a franchise attorney for a big law firm then you will most likely need to get some experience in the field. Further, if you choose this route as a career you’ll do well to consider obtaining a Certified Franchise Executive Degree. A degree also known as a CFE. It’s not a difficult certification to obtain at all and will without question greatly enhance your resume when seeking a franchise law position within a firm. As a franchise attorney you will of course also need to be fairly well versed in the many aspects of franchise law, and it is important to have this knowledge also noted on your resume.

Boxing News Delivers Stats and Gossip

From just about any type of information that is available today through the media and from online sources, boxing news is the best way to stay on top of the happenings in the wide and varied world of professional and amateur boxing.

It is interesting to note that professional boxing has evolved into one of the very few sports that has definitely been instrumental in the development of what is now known as sports entertainment. And in some cases, the boxing news reports and media hype is partly entertainment in and of itself as well.

Just a quick look at the amount of attention and hype that swirls around any major professional event of this sport makes it clear that this is a powerful and popular spectator sport franchise. And, the boxing news helps to keep the interest high with its own versions of hype and gossip.

Interestingly, this professional sport is one of the sports that enjoys some of the most intense coverage. And, with an array of colorful characters, intriguing anecdotes and bazaar incidents, this sport news rarely lacks in sensationalism.

And, it seems the sports fans of this professional sport just cannot get enough of the boxing related trivia and other interesting tidbits. They love to read and watch anything they can get from the boxing news.

Not only that, but it seems that many professional boxers choose to live life to the fullest and often are in this sport news, not just for their accomplishments in the boxing ring but also for other reasons that cross over into their personal lives in many instances. It often seems the althetes actually seek out things they can do to bring this extra attention to them.

For fans who want to know the full inside scoop about their favorite professional boxer, match-ups, bouts, its history or statistics, there is a wide range of news publications such as boxing magazines, that are available in the marketplace.

Such magazines delve into the personal lives of the boxers in addition to the extensive coverage they give to the sport and events. They also cover much of the day-to-day happenings in the sport and are also quick to cover any available gossip about the individual boxers, especially those most popular at the moment.

Some of the boxing news magazines are primarily devoted to those fans who are most interested in keeping up-to-date on the upcoming fights, results of recent matches and the current ratings for the various fighters and their statistical information.

Other focused magazines on this sport provide more news regarding trends in the sport, reviews of different venues and professional boxer interviews, sometimes going into great depth.

Still, other magazines concentrate more on the analysis aspect after the fights, boxing trivia and on introducing the new personalities who are emerging into the sport.

Regardless of what kind of boxing news you are most interested in, you will no doubt be able to find just the right magazine or internet web site that can supply you with the information you most want to delve into.

How To Find The Best Home Business Opportunity To Suit Your Temperament?

Make no mistake about it: the Internet is filled with any number of websites aimed at would-be entrepreneurs and each and every one of the various systems advertised claims to be the best home business opportunity there is! While this is patently impossible, the fact also bears out that in your case, it actually may be the truth! Even as this appears to be an impossible statement, remember that each and every person is wired just a bit differently, and what looks like a wonderful business opportunity to one person, to another is probably the stuff that nightmares are made of.

Thus, to find the best home business opportunity to suit you, you must first know your temperament, your likes and dislikes, your negotiable character traits, and the personality traits that are so deeply ingrained that change is not an option. Remember that there is nothing inherently good or bad about your business likes and dislikes; they are just a sum of your experiences, skills, personality, and also education. In some cases you may be able to change some of them, and in other cases you will not wish to do so. Yet at the root of any such decision is a firm knowledge of who you are, what makes you tick, and how you will be able to find personal satisfaction and monetary remuneration in any kind of home business opportunity.

You may decide to take any one or perhaps even several of the online personality tests that will help you to find out if you are extroverted or introverted, goal oriented or process focused, a self starter or in need of external motivation, able to deal with rejection or in need of protection, best when dealing face to face with potential customers or better when dealing with the public via the relative anonymity that is the Internet, as well as host of other traits and skill sets. Once you know how your personality affects your work persona, you will be in good shape to take a closer look at the many online home business opportunities.

The best home business opportunity for you will naturally fall into place with your personality traits. Thus, an interior decorating franchise that will have you make house calls to potential customers in an effort to sell them paints, fabrics, other goods and also services related to interior decorating will be great for an outgoing personality who is artistically inclined and ready to get down to business but does not want to take on the responsibility of opening and operating a brick and mortar store front. Conversely, freelancers who will make the most of an artistic talent online will be great for someone who does not desire the face to face business contact but is still able to market themselves and their services very effectively on the ‘Net. Of course, the most important trait needed to make use of any online business opportunity is the ability to make a commitment to it and then to follow through. No business can succeed with only a haphazard approach, no matter how well suited you and the business opportunity may appear to be!

 

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