Franchise Machines: DVD Kiosks, ATMs, Photo Booths, Vending |  |
- Franchise Machines: DVD Kiosks, ATMs, Photo Booths, Vending
- Seven Questions To Ask Before You Go Solo
- What’s Happened to Small Business Employment?
- Twitter Rolls Out Extended Features to Expand Possibilities
| Franchise Machines: DVD Kiosks, ATMs, Photo Booths, Vending Posted: 18 Jun 2012 11:00 AM PDT It's 7:00 PM on a Friday night. You've been flicking from channel to channel on your 46-inch 3D LED HDTV for the better part of 20 minutes, and as usual, nothing is on. You aren't asking for much; after a long week at work, you just want to kick back, relax, and maybe watch a movie….
Then it hits you; you remember seeing a movie kiosk in front of the grocery store that you frequent. So you jump in your car, and a mere 10 minutes later, you're stretched out on the couch, enjoying a newly released movie. You've just purchased 2 hours of chill time for $3.50 … from a machine. Be The Machine On the way back from that DVD movie kiosk, did it occur to you that it may be kind of cool to own one or two of these kiosks yourself? After all, you're probably not the only person in your area who is looking for a fast, convenient way to watch recent movies, right? Plus, it can't be too difficult to run an automated little business. Let's look at the pros and cons of being the owner of an automated business: The Pros Low start-up costs: The major player in the DVD kiosk industry is DVDNow, an outfit out of Canada. From their website: "You can be in your own business in less than 45 days for under $25K." That puts the business on the lower end of the investment range for a franchise business. It's not a franchise: DVDNow is a business opportunity, not a franchise opportunity. Business opportunities offer a degree of flexibility that won't usually be found in the mostly-rigid franchise business model. In addition, the laws are different for business opportunities. That translates into a much simpler contract than you would have to sign to become an owner (2-3 pages vs. 25+ pages for a franchise business contract). Finally, there are no ongoing royalties; you won't have to pay a percentage of your gross sales to corporate every month, since it's not a franchise business. Flexibility: You can keep your job. That's right; you can keep a full-time job while you launch this part-time business. Once the kiosk is installed, all you really have to keep it stocked, and collect the money. The Cons Name brand competition: Have you ever heard of Netflix? While they've had their share of problems, and pundits feel that the Netflix mail-order system will soon become passé, not having to leave the house to pick up a movie is really convenient. It's not a franchise: One advantage of the franchise business model is what I call "tightness." Franchisees buy into a very tight and proven business operating system that includes things like detailed operations manuals, specific marketing plans, grand opening assistance, and dedicated corporate support. It's a cookie-cutter model, and it's been proven to work. The location: While companies like DVDNow offer location assistance, (for a fee) in the kiosk business, it really does come down to location. A great location = great revenue. A poor choice equals disaster. Other Machines: DVD rental kiosks aren't the only automatic money machines currently being offered to franchise and business opportunity seekers. Low-cost businesses are always popular, especially in an unsure economy like the one we're in now. Mike Handelsman, the Group General Manager for BizBuySell.com told me that a lot of the unemployed have a lot less capital to invest in entrepreneurial ventures these days;
Here are some examples of other low-cost franchise and business opportunities: ACFN: franchisees of this electronic financial services company have placed over 1600 ATM's in hotels, hospitals, museums, sports venues, and restaurants. ATM's really are money machines, and this is another opportunity to keep your job while you start your own business. Fresh Healthy Vending: healthy drinks, snacks, and organic coffee are the products featured in attractive and cashless vending machines that franchisees place in health clubs, corporate offices, hospitals and even schools. Today's consumers are looking for non-junk-food types of snacks and beverages; this young franchisor provides 500 different products for its franchisees to offer. Mojo Photo Booths: the company website states they offer: "The only commercial-grade photo booth on the market that offers a true turn-key business with one-person portability and operation.” The booths fit up to 10 people, and owners bring them to corporate events, parties, and weddings. The photos are printed instantly, and can be customized on the spot. There are lots of low-investment franchise and even non-franchise opportunities available these days. Savvy entrepreneurs are marrying their ideas to the latest technologies to provide what some of the "be your own boss" crowd seems to want these days; low-cost, part-time automatic businesses. Did I miss any of them?
From Small Business Trends |
| Seven Questions To Ask Before You Go Solo Posted: 18 Jun 2012 08:00 AM PDT Many dream of the day they can start their own business, take control of their career, set their own schedule, and make their own decisions. In these days of economic uncertainty, starting your own business no longer seems all that much riskier than a 9-5 office job.
While self-employment is a tempting career path, it's not everyone's cup of tea. Some people are able to carve out a successful, sustainable solo career, while other equally talented colleagues dabble in the self-employed lifestyle only to be lured back to a job at a more established organization. If you're considering starting your own business, ask yourself these seven questions: 1. Why do you want to work for yourself? This question sounds simple enough, but don't take it too lightly. All too often, people look toward self-employment when they're frustrated with their current job. Ask yourself…Is this business something you really want to do or are you just trying to escape something else? If you're truly passionate about your business idea, that's fantastic. But if you're just mad at your employer, that's not a good enough reason to become an entrepreneur. 2. How disciplined are you? If you want to work for yourself, you need to be able to self-motivate. This is particularly important at the beginning when you're just ramping up and don't have clients or customer demands to meet. You need to be able to put in long hours in order to set up your website, marketing, blog, and more – and you'll need to be able to put your nose to the grindstone even when there's no boss to set your schedule. 3. Do you like variety? People who thrive in self-employment get bored of monotony. They enjoy working with new people and learning new skills. When you run a small business, you've got to wear a virtually endless number of different hats…from sales to customer support and IT. For example, when you're a small business owner, you can't get too frustrated when you have to troubleshoot printer problems without the help of an IT manager (at least until you can hire your own IT manager). 4. Can you be your own salesperson? You may be a brilliant party planner, graphic designer, PR pro, or landscaper, but working for yourself entails so much more. You'll have to deal with all the financial aspects of your business: negotiations, contracts, etc. If you're not comfortable asking for money, you'll have to get comfortable fast. 5. Can you be financially buoyant for the short term? One of the main reasons a startup fails is that it doesn't have enough capital at the beginning. Be realistic about your financing and don’t try to extend yourself beyond your means. Ideally, you should be able to support yourself for at least 6 months to a year through other avenues – whether that's your savings, a partner's income, or a part-time job. 6. Can you sacrifice a steady lifestyle? Ask yourself how important are the following things to you right now at your stage in life: a steady paycheck, 4-weeks paid vacation, employer-paid health insurance? Most entrepreneurs will need to forgo such perks for the first few years of their business. You'll need to be able to handle the uncertainty and lean times…both financially and mentally. 7. Are you passionate about what you do? Yes, running a business is hard work and starting a business from scratch is even harder. But in this case, the adage 'love what you do and you'll never work a day in your life' holds true. Of course, remember that the market isn’t necessarily concerned if you are fulfilling your lifelong dream. Customers spend money on products and services that fulfill their own needs and desires. To turn a profit, focus on how your passion can make a difference to others. In short, when deciding if self-employment is right for you, be sure to consult both your head and your heart. Then buckle your seat belt and get ready for an incredibly exciting, tiring, and always rewarding ride.
From Small Business Trends |
| What’s Happened to Small Business Employment? Posted: 18 Jun 2012 05:00 AM PDT Small business owners used to be interested in employing others. While many still are, that fraction has been falling for many years. Consider figures from the Bureau of Labor Statistics (BLS). The government agency's data show that back in 1995, 20.7 percent of self-employed heads of unincorporated businesses had employees. By 2010, the figure was down to 16.6 percent.
Data from another government agency, the Census Bureau, shows a similar pattern. Back in 1992, 26.2 percent of U.S. businesses employed at least one person. By 2010, only 20.5 percent had anyone on their payroll. As the figure below shows, the decline has been pretty steady since the Census Bureau began reporting annual data in 1997. While a 4.6 percentage point change in the fraction of U.S. businesses that have employees might not sound like much, it's a lot. If the same fraction of small businesses had employees in 2010 as did back in 1992, we would have 1.6 million more employers than we have now. Even if the size of the average American business with employees remained at its 1992 level of just over 18 workers (it’s now slightly over 20), a shift of 1.6 million businesses from the non-employer side of the ledger to the employer side would mean 29 million more jobs than we currently have. From Small Business Trends |
| Twitter Rolls Out Extended Features to Expand Possibilities Posted: 18 Jun 2012 02:30 AM PDT The limits of Twitter are being tested. Last week the microblogging platform announced new features designed to extend the reach of the Twitter experience, and the improvements may mean expanded possibilities for all users. Here’s a look at some of the changes on tap and some news and features critical to users of the service. New Roll OutsBuild a better tweet. Twitter has announced the roll out of new, expanded tweets already being used by media partners like The Wall Street Journal, Breaking News, and TIME. The new feature allows you to see a preview of a Twitter link with the headline, introduction, and sometimes the Twitter accounts of the publisher and writer. Twitter Blog What would you do? Twitter’s new expanded feature opens many new possibilities for content creators. Beyond an image and headline, the new links will let visitors see a 280-character summary separate from Twitter’s traditional 140-character posts. It will change the way online publishers, including small business owners, share content on the microblogging platform. Online Media Daily Sound and fury. Part of the new, extended feature rolling out to members of the Twitterverse adds audio to it’s photo and video offerings via SoundCloud. The new additions make Twitter, more than ever before, a plausible rival to Facebook, and one more way Twitter is becoming more friendly to content creators. Gigaom Brevity is the soul of wit. Not everyone thinks extended tweets on Twitter is such a good idea. Columnist John C. Dvorak complains, “This seriously violates the original intent of the site and ruins its charm.” He promises that anyone using the extended tweet format will be banned from his Twitter feed, but many say the upgrade does offer benefits. PC Magazine The numbers game. New features at Twitter include more than just expanded tweets. Twitter is also dumping it 50+ designation for retweets and favorites, introducing an exact count for all tweets past, present, and future without the need to use third party measurement tools to see your social impact.TechCrunch Here, there, and everywhere. No longer is place a consideration only for Foursquare and Facebook in the social media sphere. Now Twitter also allows you to tailor trends based on location and who you follow, too. The new feature will allow Twitter users to discover content with these criteria in mind, so consider both while crafting your tweets. Technolog Best & Worst PracticesTwitter business tips. What separates Twitter from Facebook is its ability to create unique relationships, says social media marketing expert Michael Tasner. Tasner goes through a couple of important tips for anyone interested in harnessing that ability for success in marketing and networking. Huffington Post Trolling for followers. We mentioned earlier that measuring retweets and favorites on Twitter is now as easy as measuring followers. But as Sweden’s national tourist agency may find out the hard way, legions of followers do not necessarily lead to a positive brand. Here’s what happened when Sweden handed over its Twitter account to a troll. TechDirt More Tips & TricksThe best offense is a good defense. Whether your using Twitter or some other social media platform, one key to success may be making fewer marketing posts, but doing more listening, customer service, and engagement, says guest blogger Zack Urlocker, chief operating officer at Zendesk. VentureBeat Employees hate your Twitter account. A study suggests 44 percent of employees still think social media like Twitter and Facebook have an adverse impact on the workplace. The study was done in the UK, but could the results be almost universal? When trying to get your employees to engage customers using Twitter and other social media, be sure you educate them about the positives for your business. All Twitter From Small Business Trends |
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