|Strategic Planning Information|
Bounced Checks in Your Business Location Outlets
The new check cashing instant clearing will take some time to get use to. If checks clear immediately and deposits take a few days then franchise outlets may find more bounced checks in their establishment.
We might also see a major shift in Thursdays Advertising inserts in the Newspapers, also a shift in Thursday junk mail coupons. Retail outlets will not wish to run sales items on Thursdays because they will get too many bounced checks.
When ATM cards became more widely used we saw a slow trend away from Thursday ads and it became more spread out over Fridays. Also many mailer coupon packs that are run by franchises may need to switch their delivery dates to coincide more with weekends as the paychecks people get may not have cleared their accounts, while every check they write will.
There will of course be more bounced checks in the short term, meaning that this will cost franchise retail outlets and effect their cash flow, while the banks will increase profits within the next two to three quarters due to increased banking fees for those bounced checks during this Christmas Shopping season. If you will recall a couple of years back banks made additional dollars by allowing electronic debits to run over and then collecting the fees for over charges per transaction, increasing profits by nearly 30%. During this same time Christmas sales were able to remain strong since the consumers were buying on money they did not have, thus the whole process mimicked super high interest short-term loans.
We in franchising need to understand that every single thing that is changed anywhere in the economy will effect our businesses, some good, some bad, some just different, never the less we are effected. I have talked to few franchise outlets who believe this trend is significant, yet as consumers become more indebted we will see more and more of them running redline, paying credit card payments with other credit cards.
As the float is taken from consumers who are use to it in their habitual shopping habits and given back to the banks, we will see more bounced checks in our franchised outlets, this will also effect franchisors in late royalty payments of those franchisees who are in economically depressed or job-recovery areas of our country.
The consumer's cash flow becomes the franchised outlets cash flow, which affects the franchisor's cash flow. Bank profits will increase significantly in the interim on the backs of these consumers and we will feel a slight pinch and changing of shopping day peak trends as these new banking policies come into play.
We are always interested in what effects your bottom line as a small business, franchise outlet or even a large Corporate Box Store as retail sales in our economy effect jobs, factory orders, consumer confidence, stock market, money flows and the future of the business cycles, you should be too.
"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
Pressure Washing Entrepreneurs Can Help With Government NPDES Permits
If you own a pressure washing business one of the smartest things you can do is get involved with the local and regional enforcement for storm water environmental laws. The reason being is they do not understand the washing process of the industry and you can assist them with pertinent information. Secondly you learn about opportunities in the market and third, you can prevent really bad legislation which could potentially put you and your business out of work.
Seasonality: Whats the Big Deal?
Do you work in or own a business that's affected by seasonal cycles? Do you live in a community whose population changes significantly during the year (e.g., tourist influx, students returning to college)? Do you ever feel stressed out or frustrated by the seemingly constant changes or the extreme highs and lows of your life or your business?
Getting Started with Succession Planning: Part II
Succession planning requires the owner of a small or medium-sized business to plan for what the company will look like and how it will operate after the transition to new owners is complete. Unless the owners have succession goals in mind, they won't achieve them. Once these goals are in place, the owners should backtrack and identify the process that will get the firm from its current status to the targeted status after succession. Some of the people involved in the process of transforming the company should be retained as future managers. Others are best utilized just for the transition but not in a managerial or ownership role after succession.
Questions to Ask Yourself When Starting a New Home Business
I love the excitement of starting up a new home based business. I enjoy trying out new ideas and approaches with the new venture. I dream the big dreams and hope to obtain some of them (if not all of them). I am sure you have those same feelings as well. Organization is imperative when starting any business. Some say that a well funded business has the best chance to sustain losses until it's profitable. However, if you are on a shoe string budget like me, money management is the key.
Is Your Company Growing Fast Enough for You?
Are you frustrated by the lack of growth in your firm, or the effort required to squeeze any up-tick in performance? Are inadequate policies and procedures a root cause? To find out, take this simple self assessment to see if this may be inhibiting real growth at your company.
Don?t Allow Yourself to Get Burned
I am not a big fisherman, but I do enjoy it whenever the opportunity comes my way. I have some friends who are fanatics and occasionally I will go out with one of them. They have nice boats and it makes for an enjoyable day.
6 Steps To Laying Out Your Competitive Strategy
Why do so many companies languish and watch as their business turns into a zero profit zone, while others seem to thrive?
Restaurant Startup - Part 1: Market Research ? What are Potential Competitors Doing?
The first step in starting a restaurant is proper planning. One must lay out a plan complete with goals, priorities, and the tasks that he will need to complete in order to achieve these goals. The biggest mistake first time restaurant owners make is improper planning. Ambition, while absolutely required, is simply not enough to succeed in the highly competitive food service industry.
Top Reasons To Form A Strategic Business Alliance
A strategic alliance is when two or more businesses join together for a set period of time. The businesses, usually, are not in direct competition, but have similar products or services that are directed toward the same target audience. Below are ten reasons to create a strategic alliance.
How To Kick Start Your Business And Double Your Profits
This will make some people angry as hell, but it's time to debunk the myth of 'Time Management' while sharing the real secret of the super successful.
How To Leverage Your Current Ideas And Products Into Multiple Revenue Streams
Diversify - to make diverse, give variety, to balance, to divide securities in different industries, to produce variety, to engage in varied operations.
Could You Be Setting Your Business Plan Up For Failure?
David E. Gumpert, author of Burn Your Business Plan, often tells the story about how he and his partner failed to raise money after sending their business plan around to venture capitalists and meeting with several others to make presentations. Disappointed by the fruits of their labor, they considered giving up on their venture in 1995. Fortunately, on the advice of their board of advisors, they chose to divert their time from massaging the business plan to making sales. The financing, they were told, would come later.
Microsoft Great Plains Implementation: Healthcare/Hospital example ? overview for consultant
Microsoft Great Plains fits multiple services market niche and healthcare is not exemption. In the case of Healthcare/Hospital there is usually healthcare patient history tracking system in place and backoffice or accounting application should be integrated on the ongoing basis with the above mentioned system plus often Hospital or association is non-profit organization and non-for-profit accounting specifics should be taken into consideration.
The Magic Of Exponential Business Growth
Is there a 'magical' way to exponentially grow your business?
In Business Planning, Competition is Good
When developing the competition section of your business plan, companies must define competition correctly, select the appropriate competitors to analyze, and explain its competitive advantages.
How To Prepare A Business Plan That Guarantees Big Profits
It is always said "If you Fail to Plan, you Plan to Fail"
Do You Have A Customer Identity Crisis?
The trick is to determine what uniquely identifies your best customers. Fortunately, deriving this information is not difficult, and in many cases can be obtained from innocuous questions. Consider a manufacturer of baby goods and the fact that families with new babies often purchase multi-passenger vehicles. This manufacturer could build an effective mailing list by surveying recent car purchasers and noting which respondents had traded in sports cars for SUVs. Your information gathering technique of course will vary, but the identifying information always comprises the same three pieces -- demographic information, geographic location, and purchasing history. Demographic Information
Ten Steps To A Great Strategic Plan
Ask a small business owner about their strategic plan and they'll either laugh or get that stricken look in their eyes. Yet it's well documented that businesses with a strategic plan are more successful. No matter what size business, from solo practitioner to hundreds of employees, a thoughtful strategic plan will help you achieve your dreams.
Making a Decision to Outsource: Strategic Constraints
Many companies are reluctant to dive into outsourcing ocean because of various reasons of strategic nature. As far as strategic goals are touched upon, managers are concerned with the following issues:
More Uses for Your Business Plan
You have invested a lot of time and energy on writing a business plan just to get a loan or to attract an investor. What do you do when you get the money or, worse, should you be turned down?
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