General Business

A List of Five Small Business Resources You’ll Want to Know About

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The Internet is Full of Resources for Small Businesses

As a small business owner, you are never alone, especially if you’re partnering with a successful franchise opportunity. Personal networking, mentorship, and the Internet’s abundance of small business resources are easily accessible. The business world is not as cut-throat as lawyers and your MBA faculty romanticized it to be. There are guides, tools, and resources omnipresent to help address any snags you find yourself in. You might just need to know where to look.

This article will discuss five of the best sources of business knowledge covering topics like tax information, hiring guidelines, and back-office systems.

Filing Taxes as New Small Business Owner

A common mistake many neophyte business owners make is believing that the IRS will overlook their business before profiting. This is far from true. The IRS takes huge bounds to audit small business and start-ups even before they enter the black. Hiring a CPA or tax preparation service is one of the major small business resources that will pay for itself. Organized books and accounting will not only make tax season less of a headache, it will help you find your business’ strengths when time to expand comes.

For support in filing taxes enlist the help of SCORE. This organization is a group of retired executives who have the expertise to mentor you through the toughest business challenges. Local SCORE chapters provide valuable practical advice, tools, and education you will need as you start out.

Finding a mentor is simple through SCORE’s network of experienced entrepreneurs.  You can visit a local chapter or access their information online. The SCORE website can be used as a manual. You can find instruction on all relevant business inquiries. Information like how to structure your business for legal and tax purposes, proper deductions, and steps to partnering with a tax preparation agency are a few clicks away.

Where and How to Hire Employees

The internet is an extensive and far-reaching tool for collecting and retaining talented members of your team. Every position, skill-set, and congruous personality can be found for your business. First, you’ll need to narrow down the employees you’re looking for by job title. Then, you’ll need to post job openings throughout various internet forums. There are a variety of credible small business resources where you can post job openings.

Job Posting Forums

  • Indeed
  • Monster
  • LinkedIn Jobs
  • Craiglist
  • SimplyHired

Post all relevant information on these sites. Include information like credentials, minimum work experience, expected compensation, and summarize the job description. There are also a number of recruitment agencies that you can use if your business is scaling quickly.

The Small Business Administration

The SBA is an independent agency of the federal government whose sole purpose is to assist small business owners. Whether finding a small business loan with advantageous rates or seeking out free education on segments of business like financing, marketing, or managing—the SBA is a widely comprehensive small business resource. Many of the first time tasks of opening a business from the ground up are outlined in the SBA’s literature. Tasks, like writing a business plan, or picking out a point of sales system are outlined in easy step-by-step guides.

The SBA’s mission is: “The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam.”

Free Online Small Business Resources

The convergence of the online world has introduced new dissemination of information that before only experts had access to. Now, small business owners don’t need to attend massive amounts of school or attend conventions to gain the skills needed for success. Training can come in a variety of free online business resources. Business blogs like Small Business Trends and You’re the Boss Blog give insider tips that can give you a competitive edge. Entrepreneur, INC., and Forbes also publish great articles to keep business owners informed.

LinkedIn is another stream of valuable information. This website is the social media of business. LinkedIn helps individuals network with other professionals. Not only does this boost your chances of partnering with other credible professionals, but it can provide a daily rundown of all the news affecting your industry.

Buying a Franchise

Many choose franchising over opening an independent business so that they will also have the support they need. All the organizations like the SBA, SCORE, and your local chamber of commerce will all be there to help, but it’s a little different with a franchisor assisting you.

The difference is that you own your own business within a company that is 100% invested in your success.

When your franchise unit prevails—-generates huge income—the entirety of the franchise company prevails. This mutual investment is a schematic for huge business advancement. A reputable franchise will be a framework of small business resources. For more information on how franchising can make your entrepreneurial pursuits easier, click here.

 

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Unique Business Ideas for the Creative Entrepreneur

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With the state of today’s economy, many are wondering about alternative options outside of the typical 9-5 corporate scheme. The convergence of technology is allowing more individuals  to work remotely from home. Job automation is looming and shifting the workplace to new boundaries. New marketing trends are pushing companies to find unique business ideas to cater to a dynamic market.

It’s a brave new world.

But, while the  marketplace is a constantly moving arena it offers multiple huge opportunities. The economy is growing again and consumer spending is healthy. It’s amazing what people will pay for as consumer demographics deviate—endowing the mobile-device-wielding-online-shopping millennials to inherit the market. But where do you start out on a business venture?

Many advise finding a disruptive model with a unique business idea for a specific market gap. The truth is there are dozens of industries holding vast margins with doors open for veteran business owners and aspiring entrepreneurs alike. You don’t have to invent something to embrace the entrepreneurial spirit.

So what are industries and alternative career pathways are booming right now?

Social Media Manager

There is an invalid stereotype that floats around concerning social media managers. Many believe the title social media manager is a job for recent college graduates, but the truth is the position is opening nationally. Social media provides companies with huge advantages for free marketing. This tactic of marketing needs constant attention for campaigns to disseminate effectively.

The national average salary for a senior social media manager is $66,997, according to glassdoor.com. Although this may seem low, take into account that often this job can be done remotely providing extra income.

Most young workers take advantage of their knowledge of social media platforms to develop a skill set within branding and research. The most direct route to break into this industry is to build your own personal internet clout. Many social media users already have an impressive following on their Twitter, Facebook, or Instagram so only minor tweaking will be necessary. Next, you can take online classes to develop your resume from Skillshare or Coursera. With the combination of these two additions to your professional repertoire, becoming a social media manager will be as easy clicking the Tweet icon.

Boat Cleaning

You know what B.O.A.T. stands for right? Bust. Out. Another. Thousand. Any boat owner will tell you the acronym is true and that owning any sized vessel takes a certain amount of disposable income to maintain their maritime Captain Jack Sparrow lifestyle.

One of the most streamlined approaches to entering this market is boat cleaning. Whether working independently or investing into the expanding maintenance franchise industry, boat cleaning is proving lucrative.

Many boats are docked and lifted for mid-season repairs during the winter. During this time the decks, sleeping quarters, head, and holds all need to be deep cleaned. For those who live near seawater, barnacle scraping is also a unique business idea. This task requires specific skills and resources that are actually not hard to acquire.

Open a Pet Franchise

In 2017, the pet franchise reported U.S. spending at $66.75 billion with over 68% of households owning a pet. This booming industry offers opportunities for everything from dog walking to baking holistic treats. As products in this industry become more high-quality, the margins expand to account for pet owners demanding healthier products for their four-legged companions.

One of the strongest segments of this market is the pet grooming franchise sector. Owning a small grooming business is a smart and unique small business idea for those looking to make quick ROI (return on investment). Using the brand, support, and marketing a franchise offers is a wise move. Solo small business owners often fail from drowning in the back office responsibilities alone. With a franchise, the systems have already been fine-tuned and proven in a compatible market.

Pet franchising routes offer a fun and money-making approach to owning a small business in a profitable industry. Pet franchise owners enjoy recurring revenue that secures profits. A successful location can and will eventually run itself leaving you to expand to earn more, explore other entrepreneurial interests, or maybe even retire!

Wedding Planning

To quote Beyonce, “If you liked it then you should’ve put a ring on it.” Many took Mrs. Knowles words to heart and are tying the knot. In the U.S. there are 2.3 million weddings a year. That’s 6,200 weddings a day. The average number of guests is 178 with the average budget floating around $20,000.

Altogether, Americans spend $72 billion on weddings each year. of course, the ones planning the esteemed affair get their cut, so why not become a wedding planner?

Wedding planners need strong organizational skills, social adeptness, and business experience. You need to be able to multitask. You’ll be talking on the phone, comparison shopping through vendor lists, and need to be able to calm down the bridezillas. Unfortunately, you’ll be tied up most evening and weekend nights, but that’s a small price to pay when wedding planners make anywhere from $3,000 to $5,000 a client. In this industry, this is the chump change. As you build your clientele list, you’ll gain access to more affluent clients with larger budgets—meaning a larger payment for yourself.

Interior Painter

One of the most profitable business ideas is hands down interior painting. The service has a 6, 329% markup, according to Business Insider. Why!? How!? It’s simple. Most people don’t want to paint their own house or business. They rely on interior painters to come in and do the job professionally.

Running a business in interior painting is as easy as trips to the home department store for paint and ladders. You will need to have acute attention to detail and patience to be successful. But with company fees arriving around $9,000 for a project and interior painters only spending $140 on supplies on average, this might be the unique business idea for you!

Other Unique Business Ideas Worth Mentioning

  • Art Seller/Dealer
  • Wedding Photographer
  • Jewelry Maker
  • Logo Designer
  • Blogger
  • Vintage Reseller
  • Interior Designer
  • Landscape Designer
  • Personal Stylist
  • Website Designer
  • Video Producer

We hope you find your passion inside a business idea that can help you make real money!

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