Before you start #business #address

#register business name

#

Before you start

Before you register a business name with us, there are some things to consider. Here we explain what to do before starting your business name application.

Business.gov.au also has resources you may find useful.

What is a business name

A business name is a name or title under which a person or entity conducts a business.

Find out more about what a business name is.

Australian Business Number

To register a business name, you will need to have:

  • an Australian Business Number (ABN), or
  • be in the process of applying for one with the Australian Business Register (ABR).

Business name availability

Check to see if a business name is available by using our business name availability search.

Business name registration fees and payment methods

How to protect your business name

A business name does not give you exclusive trading rights over that name.

Trading names

Before 28 May 2012, the Australian Business Register (ABR) collected names used by entities to carry out their business activities. The ABR displayed this name as a trading name. Trading names will be displayed on the ABR until 31 October 2018.

Private service providers

You can choose to register or renew your business name with ASIC using ASIC Connect. or use a private service provider (PSP).

Related links





10 Questions to Ask Before Selling Your Business #business #card #holder

#sell my business

#

10 Questions to Ask Before Selling Your Business

If you re thinking about selling your business, think twice. Selling a business should never be a spur-of-the-moment decision, says Curtis Kroeker, group general manager for San Francisco-based BizBuySell.com and BizQuest.com. business-for-sale marketplaces that have an inventory of about 40,000 businesses. You need to figure out things like if you should sell, when is the best time to sell, and what you need to consider before selling, among many other considerations.

So, should you sell your business? Here are 10 key questions to help you figure it out.

Is my business ready to sell? Kroeker recommends at least two years of preparation before putting your business on the market. Make sure you can produce two to three years of tax returns that are accurate and show maximum profitability to get the best price for your business, he says. You can t start putting things together the month before you sell.

How is a buyer going to value my business? Particularly with family ownership, companies sometimes run everything through the business, such as country club dues and car allowances, says Robert Kibby, section head of the corporate and securities group at Dallas-based Munsch Hardt Kopf Harr Attorneys and Counselors. Loading the business with tax write-offs can make you appear less profitable and cause a buyer to undervalue your business.

Who should be on my team when I sell? It s important for entrepreneurs to figure out whose services will bring them through the sales process and help them get the best price for their business. Do you need an accountant? How about an appraiser, attorney, consultant and business broker? The buyer is typically going to have a good team to go over your business, so you should, too, Kibby says.

Is it the right time to sell? Many people wait till their business is on the decline to sell. That s the exact opposite of what you should do, says Debbie Allen. a Phoenix-based business and brand strategist and consultant. You want to sell when you are at the top of your game peaked out, she says. Some will say, I m making good money now. Why should I sell? That s thinking like a business owner, not an entrepreneur.

Is the market right? Before selling, look at current market conditions for your industry. Selling a home improvement business in 2006 showed a pretty good return. Fast forward a couple of years and many roofing, siding, home financing and other housing-related companies had lost a big chunk of their value. I saw companies who turned down an offer in 2005 who couldn t get three-quarters of that price a few years later, says Allan Siposs, a managing director of FMV Capital Markets in Irvine, Calif. which offers services for mergers, acquisitions and divestitures. Wait until market conditions are better to sell.

Can I cope with the changes on the horizon? Rapidly changing technology, increasing globalization and other business trends can prove too much for some business owners. Keep your eyes trained three or four years down the road, and if you don t believe you can keep up, sell before your failure to adapt catches up with you. Some people find it hard to leave, but if you wait too long, the industry may pass you by, Allen says.

Can my business thrive without me or without a key customer? If a buyer is concerned that a business is too dependent on the owner or a single customer, he may take his offer elsewhere. A good business can operate when the owner is on vacation and has good revenue diversification, where no one customer represents more than five percent of the business, Siposs says.

Would I be willing to stay on if the buyer wants me to? Sometimes you can seal a deal by agreeing to stay on in a consulting role for a period of six months. But first, you need to determine whether it s really worth it to you. If you re willing to stay on, it might reduce the risk to the buyer and increase the value of the company, Siposs says.

What are the potential deal breakers? Unresolved issues can rear their ugly head and interfere with a sale, particularly in areas such as company ownership, accounting and intellectual property rights. For example, an owner may have used a contractor to write software for the company without requiring him to assign his rights to the company. This can create questions about who possesses critical rights, which can scuttle the deal, Kibby says. So, consider what your potential deal breakers are and try to resolve them before you re near to closing a deal.

Would I consider alternatives to an outright sale? If an outright sale isn t right for you, a CPA or investment banker can help evaluate other options. How about structuring a deal to pass on the ownership to employees through an Employee Stock Ownership Plan (ESOP)? Would you consider selling a percentage of the company to a private equity fund? Or would you do a leveraged recapitalization, which is a loan that puts a portion of the proceeds in your pocket?





5 Things to Do Before Saying I Do to a Business Partner

#business partner

#

5 Things to Do Before Saying ‘I Do’ to a Business Partner

CEO Founder, Deborah Mitchell Media Associates

September 24, 2014

As an entrepreneur, you may at some point consider getting a business partner or co-founder. Maybe you miss working with a larger team that complements your skills, or perhaps you are trying to broaden your market or expand your clientele. Whatever your motive, you should know that business partnerships always start with excitement, but have the potential to end tumultuously. When forming a business partnership — just like a marriage — there are certain key steps to take at the beginning that will help in the transition if your professional relationship should end.

1. Perform due diligence. Yes, everyone is fun over cocktails, but when the time comes to sign contracts and do business, you d better be sober and confident you re shaking the right hand. Asking for referrals about a potential partner goes beyond contacting common friends and asking their opinions. Call former partners and business associates, inquire with clients, read comments on their social media pages and look them up on Google. (Keep reading way past page one of the search results.)

By the time you re done, you should be able to name anyone who dislikes them — from their first high-school enemy to their latest unhappy client. Only then will you be able to either take a calculated risk or a major step back.

2. Make sure you lawyer up. If the legal fees in the beginning of a business relationship don t make you wince, then you re doing something wrong. When you partner with other people, every aspect of the business relationship should be put down in writing — including the goals for the company, duties and responsibilities of the partners and an exit strategy. Every sentence of a contract — no matter how innocuous — should be looked at by a lawyer. Since tax laws can be tricky, have your accounts receivable/payable arrangements scrutinized by an accountant.

3. Ensure you have exit strategy. Ending your business partnership is the last thing you want to think about when you are beginning one. It is similar to thinking about divorce on your wedding day, but you should have a plan. The business exit strategy should include several legal points including the division of the business assets and how the partner s portion of the business will be handled in case of death.

4. Protect yourself. One of the smartest moves you can make is to protect your personal assets in case of a lawsuit. Whether you choose to incorporate or become an LLC, the top benefit will be shielding your savings, home, car and even your favorite pair of Louboutins from any liabilities associated with the business.

5. Protect your brand. Joining forces with a partner takes a lot of energy, and chances are that somewhere down the line you will lose your focus. Working for a common goal within a new team is really exciting but merging forces does not necessarily mean merging identities. Don t lose sight of who you are. If part of the original business plan is to maintain your brand, make sure it doesn t suffer while you re giving all your time and energy to your new endeavor.

When you meet a potential partner, your personalities may click and your goals may be identical but to have a successful relationship, clarity is key. The more precautions you take in the beginning, the happier and more productive you will be later on. And the day you see that the team you ve tried to build has become nothing more that a group of people looking in different directions, then it s time to part ways and move on.





Weight loss surgery before and after #weight #loss #surgery #before #and #after


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Please note. when going through Dr. Jabor’s photo gallery, every attempt is made to represent true before and after pictures. Dr. Jabor and staff have painstakingly attempted to eliminate inconsistencies so the viewer can compare actual results rather than be mislead by other variables. Compare our photos with those of other web sites and take notice if ALL the variables are the same between the before and after pictures. These include things such as the same lighting, angles, distance, clothing and makeup. Please observe the time frame between the before and after photos. To obtain additional information, you are encouraged to check the patient’s statistics and case description.

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10 Questions to Ask Before Selling Your Business #business #consulting

#sell my business

#

10 Questions to Ask Before Selling Your Business

If you re thinking about selling your business, think twice. Selling a business should never be a spur-of-the-moment decision, says Curtis Kroeker, group general manager for San Francisco-based BizBuySell.com and BizQuest.com. business-for-sale marketplaces that have an inventory of about 40,000 businesses. You need to figure out things like if you should sell, when is the best time to sell, and what you need to consider before selling, among many other considerations.

So, should you sell your business? Here are 10 key questions to help you figure it out.

Is my business ready to sell? Kroeker recommends at least two years of preparation before putting your business on the market. Make sure you can produce two to three years of tax returns that are accurate and show maximum profitability to get the best price for your business, he says. You can t start putting things together the month before you sell.

How is a buyer going to value my business? Particularly with family ownership, companies sometimes run everything through the business, such as country club dues and car allowances, says Robert Kibby, section head of the corporate and securities group at Dallas-based Munsch Hardt Kopf Harr Attorneys and Counselors. Loading the business with tax write-offs can make you appear less profitable and cause a buyer to undervalue your business.

Who should be on my team when I sell? It s important for entrepreneurs to figure out whose services will bring them through the sales process and help them get the best price for their business. Do you need an accountant? How about an appraiser, attorney, consultant and business broker? The buyer is typically going to have a good team to go over your business, so you should, too, Kibby says.

Is it the right time to sell? Many people wait till their business is on the decline to sell. That s the exact opposite of what you should do, says Debbie Allen. a Phoenix-based business and brand strategist and consultant. You want to sell when you are at the top of your game peaked out, she says. Some will say, I m making good money now. Why should I sell? That s thinking like a business owner, not an entrepreneur.

Is the market right? Before selling, look at current market conditions for your industry. Selling a home improvement business in 2006 showed a pretty good return. Fast forward a couple of years and many roofing, siding, home financing and other housing-related companies had lost a big chunk of their value. I saw companies who turned down an offer in 2005 who couldn t get three-quarters of that price a few years later, says Allan Siposs, a managing director of FMV Capital Markets in Irvine, Calif. which offers services for mergers, acquisitions and divestitures. Wait until market conditions are better to sell.

Can I cope with the changes on the horizon? Rapidly changing technology, increasing globalization and other business trends can prove too much for some business owners. Keep your eyes trained three or four years down the road, and if you don t believe you can keep up, sell before your failure to adapt catches up with you. Some people find it hard to leave, but if you wait too long, the industry may pass you by, Allen says.

Can my business thrive without me or without a key customer? If a buyer is concerned that a business is too dependent on the owner or a single customer, he may take his offer elsewhere. A good business can operate when the owner is on vacation and has good revenue diversification, where no one customer represents more than five percent of the business, Siposs says.

Would I be willing to stay on if the buyer wants me to? Sometimes you can seal a deal by agreeing to stay on in a consulting role for a period of six months. But first, you need to determine whether it s really worth it to you. If you re willing to stay on, it might reduce the risk to the buyer and increase the value of the company, Siposs says.

What are the potential deal breakers? Unresolved issues can rear their ugly head and interfere with a sale, particularly in areas such as company ownership, accounting and intellectual property rights. For example, an owner may have used a contractor to write software for the company without requiring him to assign his rights to the company. This can create questions about who possesses critical rights, which can scuttle the deal, Kibby says. So, consider what your potential deal breakers are and try to resolve them before you re near to closing a deal.

Would I consider alternatives to an outright sale? If an outright sale isn t right for you, a CPA or investment banker can help evaluate other options. How about structuring a deal to pass on the ownership to employees through an Employee Stock Ownership Plan (ESOP)? Would you consider selling a percentage of the company to a private equity fund? Or would you do a leveraged recapitalization, which is a loan that puts a portion of the proceeds in your pocket?





Vending Machine Business Plan: Did You Think of These Before You Got

#vending machine business

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Vending Machine Business Plan: Did You Think of These Before You Got Started?
by Chris Tomasso

The first things you must consider when making a business plan is, What are your goals? , and Does the math work? Many people first get the idea to get into vending because the notion of passive income and controlling their own destiny is so compelling. While this is true, they forget to calculate if it even makes sense for them.

Without a proper business plan, you can set yourself up for failure from the start. This is because, in vending, there is a significant delay between your actions and your financial results. Whether you make the right or wrong decision, you don t see your outcome for a while. So much money is moving from place to place in vending that it can be hard to track. There are many sources of income: Cash from machines, free vend, subsidizations, renting machines, rebates from corporations, and more. Expenses are varied, including but not limited to: Rent on a warehouse, insurance, vehicle repair and maintenance, machine repair and maintenance, buying product, accounting, and acquiring new accounts. Revenue from the business is the result of thousands of small transactions. In general, your profit is not immediately obvious.

Why create a business plan?

It may seem straightforward, but in a business where the average operating profit is 45%, but the average net profit is just 2%, you can’t afford not to plan. Creating a business plan will help you price your product, set up service schedules, set minimum sales requirements for locations, determine how much you can afford to invest in new business, and it lays the groundwork for your future success.

If you don t create a business plan, you could be working for less than minimum wage in a job that is supposed to give you more time and freedom.

Where do I begin?

A business plan can only be effective if it reflects your specific goals. If you haven t already, ask yourself some of these questions:

  • How many hours are you willing to work?
  • Are you looking to build it and sell it or give it to your kids some day?
  • Is it a retirement vehicle?
  • Will you need to train someone to eventually run it for you?
  • Do you have cash to invest in it or are you building it from scratch?
  • Do you want a flexible schedule or time to travel or spend with loved ones?
  • What resources do you already have? A person who is well connected will have a lot easier of a time starting out than a person who has just moved to the area.
  • Do you have warehouse space or a vehicle you can use?

I strongly encourage you to really consider these questions and how running a vending business will fit in with your overall lifestyle goals. This could take you days or even weeks if you haven t consciously thought of it before. Once you seriously answer all of these questions, you ll need to start doing some math.

Doing the math

The exact math you need to do will be reflective of your specific goals and the resources you need to achieve those goals. As such, it s beyond the scope of this article. If you need help deciding what s realistic for you, I suggest seeking the help of a professional in the vending industry.

What you need to keep in mind is that vending machines have a significant up front investment. It could take a year for the sales of a machine to recoup the cost of buying and installing the machine. This means that, although you will be making cash money immediately, you will not likely profit from those vending machines for at least a year.

This reality needs to be reflected in your business plan. If it takes each of your machines one year to pay off their debt, those machines are not making money for you right now.

How are you making money right now? Do you have this as a side job? Do you offer a service, such as installation or repairing machines for other vendors? Do you have office coffee service where the cost of installation is potentially much cheaper and the per item value potentially much higher?

On the other hand, can you afford to not turn a profit on this machine for the allotted time? Can you afford to add at least 15% to that number to account for maintenance costs? If you can absorb these for the time being, great! If it s not making you a profit, it still may be a good idea, as long as you plan for it.

Growing your vending business

Planning for the future is also part of your business plan. How do you plan to grow your business? Do you plan on making lots of cold calls? Do you plan on generating a referral based business?

Learning vending is a fantastic way to learn how to run any business. This is because, instead of running one giant entity like a restaurant, you are running dozens or hundreds of tiny machines, each with their own cash flow. In doing this you will get really good at recognizing good business opportunities and bad opportunities because you can automatically do the cash flow in your head.

Like many other businesses, a vending business has an economy of scale. Vending supply companies, such as a cash and carry. sell products in cases, so if you only have one snack machine and you buy a case of chips, unless that company only buys one kind of chips then I guarantee your chips will expire before you sell them all.

A case is 64 chips. In an average snack machine, a row for chips is between 10-12 spaces. This means that you will need 6 rows of one kind of chip to sell in no more than two months, because chips usually expire in two months. You will most likely have expired chips in this scenario. If you are in this situation, then you should probably take away your snack machine until you can find a location with a higher volume of sales. A vending business profits immensely from a certain scale, because you can get and utilize cases to offer a variety, get rebates from manufacturers, begin hiring employees so you re not doing as much route driving yourself, and get deliveries from vending supply companies instead of going to them to get product. These are just some of the benefits of scaling up your business.

Since scaling is so important, you must decide if you’ve gotten started in the business too small. If this is your problem, you might be better off selling your route to someone with a larger business and working under them on a contract basis. Otherwise, you will have to secure a large loan in order to purchase a lot more equipment if you want your business to scale up quickly. This debt will then be subtracted from your profits. If you can still make a profit after subtracting all of your business operating costs and paying back the debt for starting the business, then great!

Final Thoughts

The difficulty of creating a sensible business plan is why so many small time vendors go out of business so quickly. More and more the little guys get squeezed out because the cost of running a business is much harsher for a smaller business as it is for a slightly larger business. This is because often time your fixed costs (rent, insurance, product cost, etc) remain the same whether you have two machines or two hundred machines.

This is just barely scratching the surface. If you feel lost, I suggest seeking the advice of someone in the vending industry. I also recommend speaking with Robert Cornelius. He s our resident vending consultant at Vending How. No matter what you choose to do, it pays to plan and plan well.

Chris is the editor and online marketing guy at Vending How. He can also drive more traffic to your website.





Before you start #business #partner #wanted

#register business name

#

Before you start

Before you register a business name with us, there are some things to consider. Here we explain what to do before starting your business name application.

Business.gov.au also has resources you may find useful.

What is a business name

A business name is a name or title under which a person or entity conducts a business.

Find out more about what a business name is.

Australian Business Number

To register a business name, you will need to have:

  • an Australian Business Number (ABN), or
  • be in the process of applying for one with the Australian Business Register (ABR).

Business name availability

Check to see if a business name is available by using our business name availability search.

Business name registration fees and payment methods

How to protect your business name

A business name does not give you exclusive trading rights over that name.

Trading names

Before 28 May 2012, the Australian Business Register (ABR) collected names used by entities to carry out their business activities. The ABR displayed this name as a trading name. Trading names will be displayed on the ABR until 31 October 2018.

Private service providers

You can choose to register or renew your business name with ASIC using ASIC Connect. or use a private service provider (PSP).

Related links





Earliest Pregnancy Symptoms Before a Missed Period #breasts #before #and #after #pregnancy


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Earliest Pregnancy Symptoms Before a Missed Period

Find out the earliest pregnancy symptoms before a missed period, some even as early as a few days after conception.

When most women think about pregnancy symptoms. that telltale missed period is usually at the top of the list. But, did you know that there are several pregnancy symptoms that sometimes show up even before that missed period, and some even as early as a few days after conception? If you are having a hard time waiting to see if your period is late or right on time, here are a few early pregnancy symptoms that you can be on the lookout for. Claim Your 20 Free Pregnancy Tests Click Here

Ah, the good old basal body temperature again! If you have been charting and tracking your BBT, this one should be a no brainer for you! When a fertilized egg is implanted, your BBT goes up and stays up from anywhere between one half of a degree and one whole degree. If you are already charting your basal body temperature (you will need a special thermometer for this), you should be able to notice this tiny little change in temp quite easily. It is usually one of the very first signs of pregnancy, and can happen as quickly as two days after you ovulate. So, ladies, get to tracking!

Most ladies think this is just PMS, a few cramps here and there. While you might be anticipating your period coming in just a few days, that is not always the case. When the embryo implants itself in the uterus, it can actually cause menstrual-like cramping in many women! You might also notice some PMS-like bloating related to the rise of progesterone and estrogen in your body. Keep in mind that there can even be some implantation bleeding 8-10 days after ovulation, so you might really think that you are getting your period! So, when you are experiencing what seems like normal PMS symptoms, keep in mind that it could be those tricky old early pregnancy symptoms after all.

Changes in the breasts are usually one of the first things that women notice as a sign of pregnancy. You might notice your breasts becoming bigger or more tender. Another early sign is changes that might take place around the nipple area. You will notice your nipples becoming much more tender, and the areola around the nipple will become larger and darker. You can notice these changes in your breasts before your missed period.

Fatigue is usually one of the earliest pregnancy symptoms, but most women don t even notice it. I mean, really, who isn t tired these days? But early pregnancy fatigue goes beyond being just tired . You might not be able to stay up past 7 pm, or maybe you fall asleep watching your favorite soap opera in the middle of the afternoon. Pregnancy hormones. especially early pregnancy hormones, can really take a serious toll on your body. So, don t brush it off as just being tired Fatigue is definitely one of the most common early pregnancy symptoms.

ConceiveEasy TTC Kit is the most complete fertility system available over the counter. Clinically proven to dramatically increase your chances of conception and help you get pregnant fast from the very first use. And now for a limited time, Try a FREE starter pack today receive 20 FREE pregnancy tests and a FREE Digital BBT Thermometer!

Earliest Pregnancy Symptoms Before a Missed Period. 3.0 out of 5 based on 25 ratings

Lindsey Zaldivar | ConceiveEasy Correspondent Lindsey lives in Roselle, Illinois with her husband and son Harry. In between keeping up with a busy toddler, she enjoys blogging about parenting, cooking, crafting at The Accidental Wallflower.


10 Questions to Ask Before Selling Your Business #free #business #listings

#sell my business

#

10 Questions to Ask Before Selling Your Business

If you re thinking about selling your business, think twice. Selling a business should never be a spur-of-the-moment decision, says Curtis Kroeker, group general manager for San Francisco-based BizBuySell.com and BizQuest.com. business-for-sale marketplaces that have an inventory of about 40,000 businesses. You need to figure out things like if you should sell, when is the best time to sell, and what you need to consider before selling, among many other considerations.

So, should you sell your business? Here are 10 key questions to help you figure it out.

Is my business ready to sell? Kroeker recommends at least two years of preparation before putting your business on the market. Make sure you can produce two to three years of tax returns that are accurate and show maximum profitability to get the best price for your business, he says. You can t start putting things together the month before you sell.

How is a buyer going to value my business? Particularly with family ownership, companies sometimes run everything through the business, such as country club dues and car allowances, says Robert Kibby, section head of the corporate and securities group at Dallas-based Munsch Hardt Kopf Harr Attorneys and Counselors. Loading the business with tax write-offs can make you appear less profitable and cause a buyer to undervalue your business.

Who should be on my team when I sell? It s important for entrepreneurs to figure out whose services will bring them through the sales process and help them get the best price for their business. Do you need an accountant? How about an appraiser, attorney, consultant and business broker? The buyer is typically going to have a good team to go over your business, so you should, too, Kibby says.

Is it the right time to sell? Many people wait till their business is on the decline to sell. That s the exact opposite of what you should do, says Debbie Allen. a Phoenix-based business and brand strategist and consultant. You want to sell when you are at the top of your game peaked out, she says. Some will say, I m making good money now. Why should I sell? That s thinking like a business owner, not an entrepreneur.

Is the market right? Before selling, look at current market conditions for your industry. Selling a home improvement business in 2006 showed a pretty good return. Fast forward a couple of years and many roofing, siding, home financing and other housing-related companies had lost a big chunk of their value. I saw companies who turned down an offer in 2005 who couldn t get three-quarters of that price a few years later, says Allan Siposs, a managing director of FMV Capital Markets in Irvine, Calif. which offers services for mergers, acquisitions and divestitures. Wait until market conditions are better to sell.

Can I cope with the changes on the horizon? Rapidly changing technology, increasing globalization and other business trends can prove too much for some business owners. Keep your eyes trained three or four years down the road, and if you don t believe you can keep up, sell before your failure to adapt catches up with you. Some people find it hard to leave, but if you wait too long, the industry may pass you by, Allen says.

Can my business thrive without me or without a key customer? If a buyer is concerned that a business is too dependent on the owner or a single customer, he may take his offer elsewhere. A good business can operate when the owner is on vacation and has good revenue diversification, where no one customer represents more than five percent of the business, Siposs says.

Would I be willing to stay on if the buyer wants me to? Sometimes you can seal a deal by agreeing to stay on in a consulting role for a period of six months. But first, you need to determine whether it s really worth it to you. If you re willing to stay on, it might reduce the risk to the buyer and increase the value of the company, Siposs says.

What are the potential deal breakers? Unresolved issues can rear their ugly head and interfere with a sale, particularly in areas such as company ownership, accounting and intellectual property rights. For example, an owner may have used a contractor to write software for the company without requiring him to assign his rights to the company. This can create questions about who possesses critical rights, which can scuttle the deal, Kibby says. So, consider what your potential deal breakers are and try to resolve them before you re near to closing a deal.

Would I consider alternatives to an outright sale? If an outright sale isn t right for you, a CPA or investment banker can help evaluate other options. How about structuring a deal to pass on the ownership to employees through an Employee Stock Ownership Plan (ESOP)? Would you consider selling a percentage of the company to a private equity fund? Or would you do a leveraged recapitalization, which is a loan that puts a portion of the proceeds in your pocket?





10 Questions to Ask Before Committing to a Business Partner #business #jets

#business partner

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10 Questions to Ask Before Committing to a Business Partner

Like a marriage, a business partnership often begins with enthusiasm and high expectations — only to end in acrimony and legal proceedings. It s important to know as much as possible about a potential partner, including how his or her finances and family life may affect the business, before signing on the dotted line.

Here are some questions to ask before deciding if partnering is a good idea:

1. What do I need from a business partner?
You should look for a business partner who brings something different to the table than you do. If you re creative, maybe you need a more detail-oriented partner. If you have money to invest in the business, you may want to look for a partner with access to a market, or with great connections. Or if you re shy, you might need a good people person to balance the equation. If they re similar to you, it might be more comfortable, but it may not be what you need, says William M. Moore, founder of the Moore Firm in San Diego, a law firm that serves entrepreneurs. You need someone who complements your skills and personality.

2. What is your potential partner s financial situation?
It is important to have an understanding of someone s financial status and commitments before getting into a venture together. It is tough to ask what they are currently spending on a house or in payments to an ex-spouse, but someone s prior financial commitments shape the decisions they will make in the short term, says Gregory Kratofil, an attorney and shareholder with the law firm Polsinelli Shughart in Kansas City, Mo. who specializes in small business interests. If he has large outstanding obligations, but says he can get by on $35,000 salary, it is a red flag.

3. What are the potential partner s expectations on the time involved?
Partners don t have to spend the same amount of time, but it is important that they are on the same page as to each other s expected time commitments. How many hours a day does your partner expect to put into the venture, and do his expectations meet yours? It is equally important to level set your partner s expectations on your time commitments, Kratofil says. The age old adage that it s better to under-promise and over-deliver applies here.

4. Is your potential partner s commitment to the business as strong as yours?
I don t care if it s a coffee house or a design firm, the business partner s commitment has to equal yours, says Bob Phibbs, consultant and CEO of The Retail Doctor. a site that provides information to small and medium-sized businesses. A partnership — especially one between friends — can start off with fun and excitement, but within a short time, the slog of every day catches up with you. If they re not as committed to the business as you, they may lose their enthusiasm and may actually be damaging the brand every time you open your doors.

5. Is there something in your potential partner s family life that might make the business a secondary interest?
If your potential partner has a pregnant wife or is taking care of an elderly parent, he may be distracted from the business. That s why you have to be brutally honest when thinking of forming a partnership. The partner can say, My wife is behind me 100 percent. But I want to talk to the wife, Phibbs says. If they re too distracted by a family issue or their family isn t behind them, the business may be doomed from the start.

6. How would he or she handle a tough situation?
It s important to know what your potential business partner will do if he has his back up against the wall — and it will happen, Phibbs says. The best way to discover this is to look at what he s done in past business ventures. If he couldn t meet payroll, for example: Did he do the right thing and dip into savings or borrow from a credit card or a friend? Or did he pay employees late, or not at all? Or worse, did he skip paying payroll taxes? It all comes down to character issue, Phibbs says, adding, Payroll taxes are a federal obligation. If that s negotiable, you can bet your partnership is also negotiable.

7. What questions do they have for me?
If a potential employee doesn t ask any questions in a job interview, you might be less likely to hire him because of a perceived lack of interest. The same applies to a potential business partner, who should want to know about your character, reliability and expectations. I want them to ask me the same tough questions I ask them. If they say it doesn t really matter, it could mean two things: their expectations are too high or they might be kind of flighty, Phibbs says. Things may be fine now, but in a month or two, they may want to change things or even get out of the deal.

8. What is the potential partner s standing in the community?
A lot of people seem good at first, but that may be their skill — seeming good at first, Moore says. Once they get their foot in the door, it may be difficult to get them out. Talk to former employees to see what they were like to work with, or for. If you re looking for someone with money connections, verify that they have money. If they say they have great connections, see if those connections go beyond just being recognized and given a slap on the back. A business partnership is not a marriage, but there should be some sort of courtship process that you can verify that they are who they say they are, Moore says.

9. Are they willing to put everything in writing?
Many partnerships are cemented with a handshake, but this can be a recipe for disaster. It s crucial to put it on paper — not only what is expected of each partner, but the consequences if expectations aren t met. There s something about actually putting it in writing that exposes the potential problem areas in the partnership, Moore says. If someone has a family emergency and disappears the first six months of the business — even though it may not be through any fault of his own — are you still expected to give that person a certain percentage of the business? If someone simply isn t pulling his or her weight, you need to be able to get them out without destroying the business, he adds. And if it s in writing, there s no arguing it.

10. Do I really need a partner?
If you can get someone to do something without giving them a stake in your business, it s always better, Moore says. People get wrapped up in the idea of needing to work with someone, but it s not always a good idea. Sometimes you need somebody to show up from 9-5, work hard and go home, he says, adding. If you re cash poor, or it s a startup and you don t expect to make money right away, taking on a partner might be the better option. But if you can just pay somebody to show up and work, it s generally a better option than giving them a stake in the company.

And now a bonus question.

What happens if we can t work it out?
Most people don t envision the rough times ahead for a new venture, so this question is probably the hardest to remember to ask and the beginning. Yet, the best time to address potential problems with your partner is at the beginning before emotions run high. You can t predict every potential problem, but a good startup lawyer can help you work through some of the common problems and put a framework in place to help address unforeseen circumstances, Kratofil says.





Vending Machine Business Plan: Did You Think of These Before You Got

#vending machine business

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Vending Machine Business Plan: Did You Think of These Before You Got Started?
by Chris Tomasso

The first things you must consider when making a business plan is, What are your goals? , and Does the math work? Many people first get the idea to get into vending because the notion of passive income and controlling their own destiny is so compelling. While this is true, they forget to calculate if it even makes sense for them.

Without a proper business plan, you can set yourself up for failure from the start. This is because, in vending, there is a significant delay between your actions and your financial results. Whether you make the right or wrong decision, you don t see your outcome for a while. So much money is moving from place to place in vending that it can be hard to track. There are many sources of income: Cash from machines, free vend, subsidizations, renting machines, rebates from corporations, and more. Expenses are varied, including but not limited to: Rent on a warehouse, insurance, vehicle repair and maintenance, machine repair and maintenance, buying product, accounting, and acquiring new accounts. Revenue from the business is the result of thousands of small transactions. In general, your profit is not immediately obvious.

Why create a business plan?

It may seem straightforward, but in a business where the average operating profit is 45%, but the average net profit is just 2%, you can’t afford not to plan. Creating a business plan will help you price your product, set up service schedules, set minimum sales requirements for locations, determine how much you can afford to invest in new business, and it lays the groundwork for your future success.

If you don t create a business plan, you could be working for less than minimum wage in a job that is supposed to give you more time and freedom.

Where do I begin?

A business plan can only be effective if it reflects your specific goals. If you haven t already, ask yourself some of these questions:

  • How many hours are you willing to work?
  • Are you looking to build it and sell it or give it to your kids some day?
  • Is it a retirement vehicle?
  • Will you need to train someone to eventually run it for you?
  • Do you have cash to invest in it or are you building it from scratch?
  • Do you want a flexible schedule or time to travel or spend with loved ones?
  • What resources do you already have? A person who is well connected will have a lot easier of a time starting out than a person who has just moved to the area.
  • Do you have warehouse space or a vehicle you can use?

I strongly encourage you to really consider these questions and how running a vending business will fit in with your overall lifestyle goals. This could take you days or even weeks if you haven t consciously thought of it before. Once you seriously answer all of these questions, you ll need to start doing some math.

Doing the math

The exact math you need to do will be reflective of your specific goals and the resources you need to achieve those goals. As such, it s beyond the scope of this article. If you need help deciding what s realistic for you, I suggest seeking the help of a professional in the vending industry.

What you need to keep in mind is that vending machines have a significant up front investment. It could take a year for the sales of a machine to recoup the cost of buying and installing the machine. This means that, although you will be making cash money immediately, you will not likely profit from those vending machines for at least a year.

This reality needs to be reflected in your business plan. If it takes each of your machines one year to pay off their debt, those machines are not making money for you right now.

How are you making money right now? Do you have this as a side job? Do you offer a service, such as installation or repairing machines for other vendors? Do you have office coffee service where the cost of installation is potentially much cheaper and the per item value potentially much higher?

On the other hand, can you afford to not turn a profit on this machine for the allotted time? Can you afford to add at least 15% to that number to account for maintenance costs? If you can absorb these for the time being, great! If it s not making you a profit, it still may be a good idea, as long as you plan for it.

Growing your vending business

Planning for the future is also part of your business plan. How do you plan to grow your business? Do you plan on making lots of cold calls? Do you plan on generating a referral based business?

Learning vending is a fantastic way to learn how to run any business. This is because, instead of running one giant entity like a restaurant, you are running dozens or hundreds of tiny machines, each with their own cash flow. In doing this you will get really good at recognizing good business opportunities and bad opportunities because you can automatically do the cash flow in your head.

Like many other businesses, a vending business has an economy of scale. Vending supply companies, such as a cash and carry. sell products in cases, so if you only have one snack machine and you buy a case of chips, unless that company only buys one kind of chips then I guarantee your chips will expire before you sell them all.

A case is 64 chips. In an average snack machine, a row for chips is between 10-12 spaces. This means that you will need 6 rows of one kind of chip to sell in no more than two months, because chips usually expire in two months. You will most likely have expired chips in this scenario. If you are in this situation, then you should probably take away your snack machine until you can find a location with a higher volume of sales. A vending business profits immensely from a certain scale, because you can get and utilize cases to offer a variety, get rebates from manufacturers, begin hiring employees so you re not doing as much route driving yourself, and get deliveries from vending supply companies instead of going to them to get product. These are just some of the benefits of scaling up your business.

Since scaling is so important, you must decide if you’ve gotten started in the business too small. If this is your problem, you might be better off selling your route to someone with a larger business and working under them on a contract basis. Otherwise, you will have to secure a large loan in order to purchase a lot more equipment if you want your business to scale up quickly. This debt will then be subtracted from your profits. If you can still make a profit after subtracting all of your business operating costs and paying back the debt for starting the business, then great!

Final Thoughts

The difficulty of creating a sensible business plan is why so many small time vendors go out of business so quickly. More and more the little guys get squeezed out because the cost of running a business is much harsher for a smaller business as it is for a slightly larger business. This is because often time your fixed costs (rent, insurance, product cost, etc) remain the same whether you have two machines or two hundred machines.

This is just barely scratching the surface. If you feel lost, I suggest seeking the advice of someone in the vending industry. I also recommend speaking with Robert Cornelius. He s our resident vending consultant at Vending How. No matter what you choose to do, it pays to plan and plan well.

Chris is the editor and online marketing guy at Vending How. He can also drive more traffic to your website.





Before you start #stock #prices

#register business name

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Before you start

Before you register a business name with us, there are some things to consider. Here we explain what to do before starting your business name application.

Business.gov.au also has resources you may find useful.

What is a business name

A business name is a name or title under which a person or entity conducts a business.

Find out more about what a business name is.

Australian Business Number

To register a business name, you will need to have:

  • an Australian Business Number (ABN), or
  • be in the process of applying for one with the Australian Business Register (ABR).

Business name availability

Check to see if a business name is available by using our business name availability search.

Business name registration fees and payment methods

How to protect your business name

A business name does not give you exclusive trading rights over that name.

Trading names

Before 28 May 2012, the Australian Business Register (ABR) collected names used by entities to carry out their business activities. The ABR displayed this name as a trading name. Trading names will be displayed on the ABR until 31 October 2018.

Private service providers

You can choose to register or renew your business name with ASIC using ASIC Connect. or use a private service provider (PSP).

Related links





10 Questions to Ask Before Selling Your Business #car #wash #business

#sell my business

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10 Questions to Ask Before Selling Your Business

If you re thinking about selling your business, think twice. Selling a business should never be a spur-of-the-moment decision, says Curtis Kroeker, group general manager for San Francisco-based BizBuySell.com and BizQuest.com. business-for-sale marketplaces that have an inventory of about 40,000 businesses. You need to figure out things like if you should sell, when is the best time to sell, and what you need to consider before selling, among many other considerations.

So, should you sell your business? Here are 10 key questions to help you figure it out.

Is my business ready to sell? Kroeker recommends at least two years of preparation before putting your business on the market. Make sure you can produce two to three years of tax returns that are accurate and show maximum profitability to get the best price for your business, he says. You can t start putting things together the month before you sell.

How is a buyer going to value my business? Particularly with family ownership, companies sometimes run everything through the business, such as country club dues and car allowances, says Robert Kibby, section head of the corporate and securities group at Dallas-based Munsch Hardt Kopf Harr Attorneys and Counselors. Loading the business with tax write-offs can make you appear less profitable and cause a buyer to undervalue your business.

Who should be on my team when I sell? It s important for entrepreneurs to figure out whose services will bring them through the sales process and help them get the best price for their business. Do you need an accountant? How about an appraiser, attorney, consultant and business broker? The buyer is typically going to have a good team to go over your business, so you should, too, Kibby says.

Is it the right time to sell? Many people wait till their business is on the decline to sell. That s the exact opposite of what you should do, says Debbie Allen. a Phoenix-based business and brand strategist and consultant. You want to sell when you are at the top of your game peaked out, she says. Some will say, I m making good money now. Why should I sell? That s thinking like a business owner, not an entrepreneur.

Is the market right? Before selling, look at current market conditions for your industry. Selling a home improvement business in 2006 showed a pretty good return. Fast forward a couple of years and many roofing, siding, home financing and other housing-related companies had lost a big chunk of their value. I saw companies who turned down an offer in 2005 who couldn t get three-quarters of that price a few years later, says Allan Siposs, a managing director of FMV Capital Markets in Irvine, Calif. which offers services for mergers, acquisitions and divestitures. Wait until market conditions are better to sell.

Can I cope with the changes on the horizon? Rapidly changing technology, increasing globalization and other business trends can prove too much for some business owners. Keep your eyes trained three or four years down the road, and if you don t believe you can keep up, sell before your failure to adapt catches up with you. Some people find it hard to leave, but if you wait too long, the industry may pass you by, Allen says.

Can my business thrive without me or without a key customer? If a buyer is concerned that a business is too dependent on the owner or a single customer, he may take his offer elsewhere. A good business can operate when the owner is on vacation and has good revenue diversification, where no one customer represents more than five percent of the business, Siposs says.

Would I be willing to stay on if the buyer wants me to? Sometimes you can seal a deal by agreeing to stay on in a consulting role for a period of six months. But first, you need to determine whether it s really worth it to you. If you re willing to stay on, it might reduce the risk to the buyer and increase the value of the company, Siposs says.

What are the potential deal breakers? Unresolved issues can rear their ugly head and interfere with a sale, particularly in areas such as company ownership, accounting and intellectual property rights. For example, an owner may have used a contractor to write software for the company without requiring him to assign his rights to the company. This can create questions about who possesses critical rights, which can scuttle the deal, Kibby says. So, consider what your potential deal breakers are and try to resolve them before you re near to closing a deal.

Would I consider alternatives to an outright sale? If an outright sale isn t right for you, a CPA or investment banker can help evaluate other options. How about structuring a deal to pass on the ownership to employees through an Employee Stock Ownership Plan (ESOP)? Would you consider selling a percentage of the company to a private equity fund? Or would you do a leveraged recapitalization, which is a loan that puts a portion of the proceeds in your pocket?





5 Things to Do Before Saying I Do to a Business Partner

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5 Things to Do Before Saying ‘I Do’ to a Business Partner

CEO Founder, Deborah Mitchell Media Associates

September 24, 2014

As an entrepreneur, you may at some point consider getting a business partner or co-founder. Maybe you miss working with a larger team that complements your skills, or perhaps you are trying to broaden your market or expand your clientele. Whatever your motive, you should know that business partnerships always start with excitement, but have the potential to end tumultuously. When forming a business partnership — just like a marriage — there are certain key steps to take at the beginning that will help in the transition if your professional relationship should end.

1. Perform due diligence. Yes, everyone is fun over cocktails, but when the time comes to sign contracts and do business, you d better be sober and confident you re shaking the right hand. Asking for referrals about a potential partner goes beyond contacting common friends and asking their opinions. Call former partners and business associates, inquire with clients, read comments on their social media pages and look them up on Google. (Keep reading way past page one of the search results.)

By the time you re done, you should be able to name anyone who dislikes them — from their first high-school enemy to their latest unhappy client. Only then will you be able to either take a calculated risk or a major step back.

2. Make sure you lawyer up. If the legal fees in the beginning of a business relationship don t make you wince, then you re doing something wrong. When you partner with other people, every aspect of the business relationship should be put down in writing — including the goals for the company, duties and responsibilities of the partners and an exit strategy. Every sentence of a contract — no matter how innocuous — should be looked at by a lawyer. Since tax laws can be tricky, have your accounts receivable/payable arrangements scrutinized by an accountant.

3. Ensure you have exit strategy. Ending your business partnership is the last thing you want to think about when you are beginning one. It is similar to thinking about divorce on your wedding day, but you should have a plan. The business exit strategy should include several legal points including the division of the business assets and how the partner s portion of the business will be handled in case of death.

4. Protect yourself. One of the smartest moves you can make is to protect your personal assets in case of a lawsuit. Whether you choose to incorporate or become an LLC, the top benefit will be shielding your savings, home, car and even your favorite pair of Louboutins from any liabilities associated with the business.

5. Protect your brand. Joining forces with a partner takes a lot of energy, and chances are that somewhere down the line you will lose your focus. Working for a common goal within a new team is really exciting but merging forces does not necessarily mean merging identities. Don t lose sight of who you are. If part of the original business plan is to maintain your brand, make sure it doesn t suffer while you re giving all your time and energy to your new endeavor.

When you meet a potential partner, your personalities may click and your goals may be identical but to have a successful relationship, clarity is key. The more precautions you take in the beginning, the happier and more productive you will be later on. And the day you see that the team you ve tried to build has become nothing more that a group of people looking in different directions, then it s time to part ways and move on.





10 Questions to Ask Before Committing to a Business Partner #business #plan

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10 Questions to Ask Before Committing to a Business Partner

Like a marriage, a business partnership often begins with enthusiasm and high expectations — only to end in acrimony and legal proceedings. It s important to know as much as possible about a potential partner, including how his or her finances and family life may affect the business, before signing on the dotted line.

Here are some questions to ask before deciding if partnering is a good idea:

1. What do I need from a business partner?
You should look for a business partner who brings something different to the table than you do. If you re creative, maybe you need a more detail-oriented partner. If you have money to invest in the business, you may want to look for a partner with access to a market, or with great connections. Or if you re shy, you might need a good people person to balance the equation. If they re similar to you, it might be more comfortable, but it may not be what you need, says William M. Moore, founder of the Moore Firm in San Diego, a law firm that serves entrepreneurs. You need someone who complements your skills and personality.

2. What is your potential partner s financial situation?
It is important to have an understanding of someone s financial status and commitments before getting into a venture together. It is tough to ask what they are currently spending on a house or in payments to an ex-spouse, but someone s prior financial commitments shape the decisions they will make in the short term, says Gregory Kratofil, an attorney and shareholder with the law firm Polsinelli Shughart in Kansas City, Mo. who specializes in small business interests. If he has large outstanding obligations, but says he can get by on $35,000 salary, it is a red flag.

3. What are the potential partner s expectations on the time involved?
Partners don t have to spend the same amount of time, but it is important that they are on the same page as to each other s expected time commitments. How many hours a day does your partner expect to put into the venture, and do his expectations meet yours? It is equally important to level set your partner s expectations on your time commitments, Kratofil says. The age old adage that it s better to under-promise and over-deliver applies here.

4. Is your potential partner s commitment to the business as strong as yours?
I don t care if it s a coffee house or a design firm, the business partner s commitment has to equal yours, says Bob Phibbs, consultant and CEO of The Retail Doctor. a site that provides information to small and medium-sized businesses. A partnership — especially one between friends — can start off with fun and excitement, but within a short time, the slog of every day catches up with you. If they re not as committed to the business as you, they may lose their enthusiasm and may actually be damaging the brand every time you open your doors.

5. Is there something in your potential partner s family life that might make the business a secondary interest?
If your potential partner has a pregnant wife or is taking care of an elderly parent, he may be distracted from the business. That s why you have to be brutally honest when thinking of forming a partnership. The partner can say, My wife is behind me 100 percent. But I want to talk to the wife, Phibbs says. If they re too distracted by a family issue or their family isn t behind them, the business may be doomed from the start.

6. How would he or she handle a tough situation?
It s important to know what your potential business partner will do if he has his back up against the wall — and it will happen, Phibbs says. The best way to discover this is to look at what he s done in past business ventures. If he couldn t meet payroll, for example: Did he do the right thing and dip into savings or borrow from a credit card or a friend? Or did he pay employees late, or not at all? Or worse, did he skip paying payroll taxes? It all comes down to character issue, Phibbs says, adding, Payroll taxes are a federal obligation. If that s negotiable, you can bet your partnership is also negotiable.

7. What questions do they have for me?
If a potential employee doesn t ask any questions in a job interview, you might be less likely to hire him because of a perceived lack of interest. The same applies to a potential business partner, who should want to know about your character, reliability and expectations. I want them to ask me the same tough questions I ask them. If they say it doesn t really matter, it could mean two things: their expectations are too high or they might be kind of flighty, Phibbs says. Things may be fine now, but in a month or two, they may want to change things or even get out of the deal.

8. What is the potential partner s standing in the community?
A lot of people seem good at first, but that may be their skill — seeming good at first, Moore says. Once they get their foot in the door, it may be difficult to get them out. Talk to former employees to see what they were like to work with, or for. If you re looking for someone with money connections, verify that they have money. If they say they have great connections, see if those connections go beyond just being recognized and given a slap on the back. A business partnership is not a marriage, but there should be some sort of courtship process that you can verify that they are who they say they are, Moore says.

9. Are they willing to put everything in writing?
Many partnerships are cemented with a handshake, but this can be a recipe for disaster. It s crucial to put it on paper — not only what is expected of each partner, but the consequences if expectations aren t met. There s something about actually putting it in writing that exposes the potential problem areas in the partnership, Moore says. If someone has a family emergency and disappears the first six months of the business — even though it may not be through any fault of his own — are you still expected to give that person a certain percentage of the business? If someone simply isn t pulling his or her weight, you need to be able to get them out without destroying the business, he adds. And if it s in writing, there s no arguing it.

10. Do I really need a partner?
If you can get someone to do something without giving them a stake in your business, it s always better, Moore says. People get wrapped up in the idea of needing to work with someone, but it s not always a good idea. Sometimes you need somebody to show up from 9-5, work hard and go home, he says, adding. If you re cash poor, or it s a startup and you don t expect to make money right away, taking on a partner might be the better option. But if you can just pay somebody to show up and work, it s generally a better option than giving them a stake in the company.

And now a bonus question.

What happens if we can t work it out?
Most people don t envision the rough times ahead for a new venture, so this question is probably the hardest to remember to ask and the beginning. Yet, the best time to address potential problems with your partner is at the beginning before emotions run high. You can t predict every potential problem, but a good startup lawyer can help you work through some of the common problems and put a framework in place to help address unforeseen circumstances, Kratofil says.