Categories
Franchise

How To Sell A Franchises Business

Article Contributed by Ray Haiber

As a business broker and franchise consultant I am often asked what the general process is to sell a franchise business. It’s a valid and important question because at some point the vast majority of franchise owners will want to sell their business for a variety reasons including retirement, relocation, divorce, owner burn out, etc. Here are some general tips below that all franchisees should keep in mind before putting their existing franchise business up for sale and will hopefully make the sales process unfold much smoother.
Contact the Franchiser
It’s important to let your franchiser know that you are considering selling for a number of reasons. Most franchisor’s have explicit rules (read your franchise agreement carefully) regarding the transfer of franchise unit to new ownership including buyer qualifications, disclosures, transfer fees, etc. Most franchiser’s can also be very helpful in the consummation of the re sale and may even have a prospective buyer on file who has expressed an interest in your specific location or territory.
Sale Preparation
Before moving forward with a listing it is imperative that franchise owners invest the time to prepare and provide sufficient information for a comprehensive listing package that should include a business summary profile, equipment & asset list, and most importantly current and past financial statements. Most prospective buyers will not move forward with a business purchase unless they and their advisors have been provided adequate financial information to verify the business is a good investment. I would strongly recommend that you consult with your accountant or book keeper to help prepare your business records to help validate and support your asking price.
As far as developing a business profile, most professional Business Brokers are very good at helping business owners at organizing and preparing a professional business profile which can be an instrumental tool in the sales process. A professional and thorough profile can also be invaluable in ultimately saving time for both the Seller and Buyer. You can find a business broker in you area by accessing a business broker directory on the web.
Pricing Your Franchise to Sell
Industry sales statistics indicate that the #1 reason why most small businesses and franchises don’t sell is because they are overpriced. It’s very important for business owners/sellers to establish a realistic and credible asking price for their business that can be supported on a number of levels, including financial history and market comparables. You should consult with your franchise company or other franchise owners in your system about recent re sales in the market to give you an idea where the market is.
You may also want to find a Business Broker in your local area about demand and supportable pricing guidelines for your type of franchise business. It’s also important in most cases to offer terms to the prospective buyer because the majority of small business acquisition deals will not be acceptable for bank or SBA financing.
Confidentiality
Unlike the sale of assets like real estate, maintaining the confidentiality of a small business sale can be very important to the owner/operator for a number of reasons. It’s not unusual for employees, customers, and even vendors to become very concerned (or worse) if they become aware that the business for sale. Competitors may also use the knowledge of the business being on the market to gain potential unwanted and untimely advantages.
The best way to maintain the confidentiality of a sale is to hire a professional business broker or intermediary that has experience in confidentially marketing businesses and franchises for sale. This includes providing services such as screening, qualifying, and requiring prospective buyers to sign a non-disclosure agreement before releasing any confidential information.
Marketing & Advertising Your Franchise Business
Franchise owners today have a number of options when deciding how they would like to market and advertise their franchise business for sale. This includes going the “for sale by owner” route which has advantages and disadvantages. The biggest disadvantage being the potential loss of confidentiality and the possible negative effects it may have on the business and its chances of selling. The biggest advantage of a “for sale by owner” transaction is the owner obviously is not responsible for paying a commission to a Business or franchise Broker.
The most common option franchise owners choose when selling a franchise is to hire a professional business or franchise broker to handle the sale. Most brokers are only paid a commission after the sale is completed, so there is usually no up front expenses. They are also familiar with their local market and buyer demands, and can help maintain confidentiality as well as prepare and price a business for sale so that it has a good chance of attracting a qualified buyer.
As far as advertising, most brokers also employ a number of local and national “business for sale” web sites that can give a listing maximum & confidential exposure to prospective buyers. They also commonly work (or co-broke) with other professional brokers in their area that might have a prospective buyer for your business.
About The Author:
Ray Haiber has 10 years experience as franchise sales consultant as well as a professional small Business Broker in Arizona. Visit here to research franchise opportunities for sale throughout the USA, including existing franchises for re-sale.

Categories
Online Business

Is Your Client Newsletter Boring Your Customers to Death?

Article Contributed by David Gruttadaurio

Are you making this dreadful newsletter marketing mistake?
The typical client newsletter is one of the most mind-numbing, agonizingly boring pieces of mail ever sent to consumers.
The main reason is that most companies think what they do is incredibly fascinating to their clients. So based on this false assumption, their newsletters cheerfully discuss the latest equipment purchase or the new back office operation and how Mary Sue has moved from Payroll to Marketing. While this might be riveting stuff internally, I can assure you that your clients just don’t care.
If you’re making this newsletter marketing mistake, don’t worry. It’s not your fault. No one ever taught you the system, until now…
4 ‘Set in Stone’ Rules to Publishing a Winning Client Newsletter:
Rule #1: Never make your business or company the focus of your client newsletter. This concept is difficult for most business owners to wrap their minds around. Read my words: Our clients don’t care about how our business operates! The sooner we accept this fact, the sooner we will be sending them something that they actually want to read.
Rule #2: Focus on article content that people grab hold of and actually use in their lives. That means you must provide appealing and interesting content that is relevant, useful and engaging. The goal is to create involvement. The more time they spend with your newsletter, the more likely they’ll take action.
Rule # 3: Be consistent. If you tell your customers to expect a newsletter from you every month, you better do it. And ask yourself: How often do I want my customers and prospects to think of me? While daily would be wonderful, it’s not going to happen. Following a monthly newsletter schedule is perfect. They will expect to receive it just like they do their favorite magazines.
Rule #4: Never forget that a client newsletter is a marketing tool. Within your compelling content weave client testimonials and the names of people who have referred your company. Have contests that give away free services or gift cards to create further goodwill between you and your clients. And always, always, always have a compelling offer just for them.
Follow these rules and you will have a winning client newsletter that will get you more sales. But, you have to keep in mind that…
You Must Take a Long-term View on Using Newsletters as a Marketing and Customer Relations Tool.
Be aware that the results will not happen overnight. In fact, it will take several months for your customers to develop the ‘habit’ of looking for it.
But over time, your clients will come to expect getting your newsletter. And they will hound you if you missed sending them an issue! You will definitely see the desired results with the payoff being client retention and more purchases from you.
Client newsletters that include the four rules listed above will build relationships with your customers and create a sense of reliability and professionalism. You’ll be sending literature that your clients will look forward to reading every month.
And since your rivals don’t understand my newsletter success system, you will create a powerful marketing machine that will blow your competition out of the water.
About the Author
David Gruttadaurio was sick and tired of wasting money on marketing that didn’t work. So he searched for a profit-producing, client-retention & referral-generating tool until he found newsletter marketing! Now go to http://www.NewslettersMadeForYou.com & get his FREE “Profit Exploding Newsletter Secrets Report” that reveals how to reclaim tons of money that should be sitting in your bank account now simply with newsletters.

Categories
Business Ideas

Build an Idea Library

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Article contributed by Karen S. Sieczka
Want to encourage your staff to think outside the box? Provide the tools they need to get creative.
An Idea Library is a place where you and your staff can go to look for the seeds of a new idea. Much like a regular library, your idea library houses books, journals, and magazines, and offers comfy seating and a place for quiet reflection. What’s different ? It is on-site and available for use any time writer’s block strikes, a project gets stuck in development, or new concepts just don’t seem to be coming.
It’s easy to get started. Carve out a space where there are few distractions. Add some comfortable seating and a table. Keep some games, colored pencils, and lots of paper available here as well. Now start to scour book stores or your own local library for interesting magazines. Here’s the key: don’t look for anything related to your current industry. You want to stimulate new thinking with books, magazines, catalogs, and periodicals unrelated to your organization’s primary industry. Go for something totally different. This is where is new ideas come from.
Look for opposites of what you do and add those items. If you’re in sales, go toward fashion. If you’re scientific, have materials from the day care industry. Bring in annual reports from non-competitors. What are they doing? How can you apply their expertise to what you do?
Borders Bookstores used a display technique garnered from the retail clothing business to quell lagging book sales. It changed its book displays with covers facing out rather than the traditional spine out approach.
Often great ideas come from adapting ideas from another industry or product line and applying it to your organization. We tend to read the same things and do the same things as our competition so we need to find a way to open the creative floodgates. Want new and unusual ideas? Look to other industries for ideas.
Ask: how can we apply what other industries are doing to what we are doing?
About the Author
Karen S. Sieczka is a training consultant and founder of Growing Great Ideas.com. Her latest training program is Growing Great Ideas: Unleashing Creativity at Work. The program generates ideas, enthusiasm, and teamwork and can be customized to address particular organizational issues or challenges. This article was excerpted from the book, Growing Great Ideas: Unleashing Creativity at Work now available at LULU.com in download or print version.

Categories
Online Business

How to Build Successful Information Marketing Businesses Online Without Getting Scammed

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Article Contributed By Barry Plaskow
These are difficult economic times for almost everybody. Many people are looking to the Internet to find an easy way to build an information marketing business that will solve their problems.
Unfortunately, there are too many scams that are successful in luring people into joining opportunities that do not provide real value. However, many are unaware of any real alternatives.
But, because you’re reading this article you’ll be able to build a successful online business without spending thousands of dollars on little informational value.
3 Steps to Building an Information Marketing Business Online
Step# 1: Understand the World of Information Marketing

You can only be successful online when you understand what people are looking for on the Internet. People use search engines in order to look for information on a variety of topics. Ranging from a review of a specific product to details about a holiday resort, the Internet has become the source of information.
Many people are prepared to pay for this information for various reasons. Firstly there is a higher perceived value for paid material. Many potential customers will not even look at your free information, as it is perceived as being cheap and lacking. There is a large market that will only buy information that the author feels comfortable to charge for.
Here is the key: If you know what people are looking for then all you need to do is create a product and market it. Plain and simple. And, this is easier than it seems as long as you follow the next two steps.
Step 2: Learn only from real marketers
Real marketers are aware of which niches are profitable to go into and they are aware of the marketing strategies needed to succeed in those areas. You need a complete plan.
The problem is that there is so much fluff on the Internet today even in the real business world of information marketing. There are people who claim that they can make you rich if only you follow their systems.
They claim that they can teach you how to create a product and market it as well.
With experience, I can tell you that many of these “marketers” are not telling you the entire truth. Many of these systems are selling you the dream. But they lack real informational value. They merely want to take you to the next level of purchase. It often turns into a never-ending circle of buying.
Now, don’t get me wrong. I am not saying that you should not buy e-Books and other products online. I’m just opening your eyes to the real truth and suggesting that you be careful before you buy. Do your homework and make sure the person or company you want to buy products from are real experts and NOT self-proclaimed experts.
Step #3 –Find out who the real marketers are
There are some great marketers out there. The problem is that in order to employ them you would be charged anywhere between $500-$2000/hour for their services. Most people starting on a small budget cannot afford such high prices.
Fortunately, a low budget alternative does exist. There are teleseminars available that offer advice from some of the best-known marketers often for free.
Teleseminars make sense for marketers as they get exposure to a wider audience. The audience wins because they receive some fantastic training from marketers who often reveal some of their best information.
If you want to succeed on line then you will need to receive an education from true marketers. Before buying any material, you will want to review what is being offered. One of the best ways of doing this is through a teleseminar.
If you follow these steps, you will build a successful information marketing business online. It’s how I’m growing my business and I’m a newbie. So, I’m learning just like you. But the difference is I’m following the above three steps and I’m learning from real experts.
Don’t you think it’s time for a change?
Although Barry Plaskow-is a relative newbie to internet marketing, he has succeeded in getting 12 of the world’s top Internet marketers including Jay Conrad Levinson, Kenneth A Macarthur and Dan Janal to appear on his teleseminar series. Now you can discover the tactics, strategies and secrets needed to create and sell products, build a huge list and generate a mountain of cash on the Internet at http://www.prleads.com/IM4Newbies

Categories
Online Business

How to Increase Your Ezine Confirmation Rate by 50%


One of the most frustrating “facts of life: if you are trying to make money online: a significant percentage of visitors who sign up for your double opt-in newsletter will never confirm. (Of course this ignites the debate over single vs. double opt-in — but that’s a subject for another article.) It feels like you are leaving money on the table…or if you prefer, it’s the equivalent of meeting a nice guy at a bar and then having him never call.
There are always going to be people who won’t confirm; you’ll never approach a 100% confirmation rate. But there are definitely steps you can take to improve your ezine confirmation rate significantly. Here are the four steps I took to raise my own confirmation rate by 50% in just 8 months:
1. Your thank you page: tell your subscriber what they need to do next. They’ve taken the first step — filling in your subscription form. The very next thing they should see is your thank you page; use this real estate for three important messages:
A) Remind them of what they are signing up for, using most of the same language as on your signup page.
B) Remind them they have to click the confirmation link when they receive it in their inbox – otherwise they won’t receive the freebie they want (you are offering a freebie as incentive, right?)
C) Tell them how to make sure they receive the confirmation email by whitelisting; you can copy my whitelisting instructions if you like.
2. Use memorable language in the confirmation email. I’m not talking about clever wording or hype-y language; in fact, quite the opposite! You want the wording in the confirmation email to closely resemble the language on your signup and thank you pages, even lifting entire phrases word-for-word. This will mark the third time they’ve seen that language, making it much more likely that they will remember it and take action, i.e., click the link.
3. Deliver what you promise after they confirm. Once they click the link in your confirmation email, take them right to the page where they can access the freebie you promised. If your freebie is a downloadable ebook, for instance, put the download link right on the page, front and center; don’t make them wait to get a link in their email! Include download instructions; feel free to copy mine at the bottom of this page if you like. If your freebie is an audio or video, it’s a good idea to offer the option for them to listen or watch right from your webpage OR download for later use.
4. Tell them what you told them. On your post-confirmation thank you page, remind them one more time about your ezine title, frequency, etc., so they’ll recognize it when they get the next edition. Include a link to download or access the freebie, in case they didn’t see it on the thank you page or had trouble downloading. Include an email address where they can reach you if they need help or have a question. This is also a good place to remind them that they can unsubscribe from your newsletter anytime by clicking the link at the bottom (or top, depending on your newsletter design) of every mailing they receive from you.
Taking these steps is sure to improve your ezine confirmation rates (although your results may vary.) You may find that you don’t have to respond to as many “I didn’t get my ebook” complaints. And, you might even decrease the number of people who unsubscribe or mark your email as spam!

TerriZwierzynskiPhoto.jpgTerri Zwierzynski is a self-employed business strategist and marketing consultant to solo entrepreneurs, and a grassroots promoter of the solo entrepreneur lifestyle. She runs Solo-E.com, the resource website for the self-employed which attracts thousands of solo home business owners monthly from over 100 countries on six continents (and was recently named a finalist for “Website of the Year” in the 4th Annual Stevie® Awards for Women in Business). Terri is also the co-author of 136 Ways To Market Your Small or Solo Business.