...many hours in order to operate a franchise. There appears to me that Fred isn’t physically able to handle the emotional and physical strain involved in operating a franchise, caused by long hours and tedious administrative chores. Fred doesn’t seem prepared to give up some of his independence of action in exchange for the advantages the franchise offers him. This goes back to family and friends whereas Fred should have asked his friends and relatives for their candid opinions as to his emotional, mental and physical suitability to running his own businesses especially since his mind set was on semiretirement (Editor's, 2005). I believe the other issue of concern with Fred was that he was moving too fast in opening multiple units. Opening a single franchise unit is often one of the most challenging and sometimes rewarding things an entrepreneur can do. Opening numerous units of a franchise is for advanced franchisees only. Fred within seven years had five franchised locations. Opening several franchise units across several different brands? That's like earning a doctorate in the small-business school of hard knocks according to (Daley, 2011). Fred’s...
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...Home Get Started Promotion Sales & Service Operations Finance Franchising Technology March 23, 2015 Resources for Entrepreneurs > Good Business Ideas > I Want to Start a Small Business Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness. Ask me a question Visit us on View our news feed Follow Ken Stop by for a bit Get our newsletter Resources for Entrepreneurs Good Business Ideas Opening a Vietnamese Restaurant Starting a Vietnamese restaurant is a rewarding experience if you have the creativity and tenacity necessary to be a successful entrepreneur. We offer nuts-and-bolts information on successfully operating a small business. Wondering how to start a Vietnamese restaurant? We take you step-by-step from start to success. How to Start a Vietnamese Restaurant Are you friend or pho? Sorry for the bad Vietnamese food pun! But, seriously, we are here to help you learn about opening a Vietnamese restaurant. What questions do you have? Consumer Expectations for Vietnamese Cuisine Vietnamese is one of a handful of ethnic cuisines that have gained traction in the U.S. restaurant industry. But like any other restaurant cuisine, consumers have certain expectations about the Vietnamese restaurants they patronize -- and those expectations may not always line up with typical cuisine in Vietnam. For startup...
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...Proposal for Qingyuan Fast Food Restaurant Opening Project Prepared Expressly for Mr. Jason Lee ( Qishuan Li) Director Xiang Zhou Branch Office China Construction Bank Prepared by: Tel: Fax: E-mail: Date: Table of contents Executive Summary 2 Introduction 3 Proposal 3 Findings 3 Strength 4 Opportunities 4 New Premises 4 Services 5 Facilities 5 Cost Breakdown 5 Benefits 6 Schedule 8 Risks and Management Plans 8 Conclusion 10 Appendixes 10 The analysis of the business 10 Customer Profiles 11 Focus Groups 11 SWOT Analysis 12 Strengths 12 Weaknesses 12 Opportunities 13 Threats 13 SMART Analysis 13 Action Plan 14 Activity Flow Chart 16 Project Costs 16 Stakeholder Analysis 17 Risk Analysis and Management Plan 18 The Project Framework 19 Executive Summary Chinese people attach great importance to “eating”. We can know it by the saying “Bread is the staff of life”. China's dishes highly stress on its color, aroma, taste, shape and meaning. As a result, many Chinese come to overseas and make their living by opening restaurants, which has become the fundamental settlement in the world. Similarly, opening various styles of restaurants in the domestic cities of the appropriate location is a great business opportunity. Based on this, a great business opportunity is to open a fast-food restaurant, named Qingyuan Fast...
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...BTEC Level 3 Subsidiary / Diploma, Business Studies Unit 2 – Business Resources Assignment 1 (P1, P2, M2) – Recruiting the Right Staff Scenario You are coming to the end of your BTEC course and you have been considering getting a job in the summer break before you start university. As well as earning some extra money, you are looking forward to the opportunity to develop your skills and put into practice the knowledge you have learnt on your BTEC course. Task one (P1 part) Research some jobs that you can apply for on job websites. You could look at www.monster.com or www.totaljobs.com. You need to find a job that you think you could apply for either now or at the end of year 13. You need to collect a job description, person specification and application form as evidence. (P1 part) Task two (P1, P2 M2) To show that you understand the relevance of these documents used in recruitment you need to complete an information sheet which analyses their contents (see attached for template). Your information sheet should 1. Describe the recruitment documentation used for the job you have chosen. What is a job description, what is a person specification and what is an application form? How are they used in business? (P1) 2. Identify the skills required on the job description. Describe how you have these skills or if you don’t have them, describe how you could develop them this year. (P2) 3. For each of the skills that you have already identified...
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...SYNOPSIS: “Experience never gets old” this is one of the film’s promotional lines. The story is about BEN WHITTAKER a 70 year old retired widower, whose boredom and loneliness who wants to fill his days with an activity where he can do some good. After 40 years in the business of printing telephone books and then losing his beloved wife of 42 years, he did his best to adjust to his new life, and it worked – for a while. He travelled the world and engaged in a wide variety of physical and intellectual pursuits to keep himself occupied, but it wasn't enough. When walking the streets of his native Brooklyn, he sees a flyer for a senior intern program at a young, but burgeoning internet clothing company. After seeing a sign advertising internships for senior citizens, he decides to apply in the hopes that he can find a new purpose in life Ben feels that learning more about technology and working with young people feels like just the challenge he needs to occupy his mind and his time. He applies, via a terrific self-made video (the company's requirement), and sits through a series of amusing interviews with company employees young enough to be his grandchildren… and he gets the internship. JULES OSTIN is the founder and CEO of “About the Fit”, a fast growing e-commerce fashion company where Ben’s wants to apply as a senior intern. The senior intern program was her idea, but Jules is at first hesitant about Ben becoming an intern due to her preconceived prejudices, Jules believes...
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...Australia. Mt Lawley is increasingly attracting hip young people to its wine bars, local pub, café’s and restaurants and is establishing itself as the new ‘place to go’ for young and trendy professionals. The nearby suburb of Northbridge (1.5 kilometres away and adjacent to the City of Perth) is home to most of Perth’s existing nightclubs. The increasing numbers of visitors to Beaufort St businesses has been creating a parking problem, and some residents have made noise complaints, but to date the local government has said they are pleased with the vibrancy that the influx of new restaurants, cafes, bars and other businesses are bringing to the area. The partnership wants to open the nightclub’s doors with a lavish opening night “end of financial year” party on 30 June 2013. Luca is contributing all the capital required to get the nightclub running. This includes the cash to set up the business premises (initial capital costs), and operating funds which are expected to cover the shortfall in profits for the first year until the nightclub is expected to make good profits of its own – having established itself by reputation as the “place to go”. The target market for the nightclub is young professionals and wealthy youth. The goal is to make as much money as possible within the next 5 years by establishing this new business, and then to sell it for a healthy profit at the end of that period. Luca is an experienced nightclub owner but has other, larger ventures that occupy...
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...SERVICES The fashion and retail industry tends to be overly youth focused (Y generation) with a “dandy mood”. However, by closely following generational fashion trends as well as our own customers' purchasing preferences, we will tailor our inventory to meet the specific needs of our clientele. We will solely focus on the our styles, colors and fits to flatter our community needs of her figure will be our specialty. 1.3 MARKET ANALYSIS (pour les plus grandes villes où il y a les fashions weeks : Londres, HK, Milan, Paris, Madrid, NYC…) Si vous avez qlq chiffres. 1.4 STRATEGY & IMPLEMENTATION Like a Sir recognizes the importance of marketing. And to that end, we plan to promote our retail business with an ambitious, targeted marketing campaign, which will include a grand opening event, local media coverage, print advertising and a direct-mail campaign. Our goal is to keep our marketing budget to no more than 5% of our gross annual sales, and we will partner with local organizations such as the designers chambers, fashions places… as often as possible. 1.5 MANAGEMENT Vos CV 1.6 FINANCIAL PLAN On va voir, j’ai un excel ou réutiliser ce qu’il a été fait avant. 1.7 SOURCES & USE OF FUNDS We have enough funds to begin to design clothes, accessories and websites (magazine one, retail one). We also have factories in...
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... Cynthia Chan 5 Stuart Chan 7 Rob Chan 8 Jeff Burns 8 The Chan Family 9 Inferences 9 Cynthia Chan 9 Stuart Chan 10 Rob Chan 10 Jeff Burns 11 The Chan Family 11 Problems 12 Decision –Additional Options 14 Behavior Assessment 15 Cynthia Chan 16 Stuart Chan 16 Rob Chan 17 Decision Assessment 17 Lessons Learned 19 Case Study: Café Latte, LLC Summary Café Latte, a new espresso bar, is about to open in Pocatello, Idaho. The business was formed as a limited partnership between three siblings and a friend, Cynthia, Stuart, and Rob Chan, along with Jeff Burns, respectively. The Chans are somewhat knowledgeable about running a business since their parents have operated a restaurant for years, and Stuart Chan continues to manage the restaurant. The three siblings are the principals in the business, while Jeff Burns is primarily a partner for financial purposes only. Cynthia, having the most free time, has spent the most time working on the business opening. Stuart has procured the equipment for the bar, with Rob’s help. Stuart has become angry at Cynthia for not spending enough time in preparations, and feels that she and Rob are not doing their fair share of work. Stuart wants to buy out Cynthia’s share, but later just apologizes for his outburst. In order to avoid further conflicts, a work schedule was devised that permits Cynthia and Stuart to work schedules that do not overlap, and Rob will...
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...for failure of a business? In my case, intimately. I partnered with my husband Dave for five years as a general contractor in our business Affordable Dream Homes. We became a statistic, one of the fifty-five percent of businesses that fail before their fifth anniversary (Hatten, 2009, p. 17). In the years that have passed since our business failed, I’ve mulled over why and have wrestled with what we could have done differently. Businesses fail for many reasons. Our case was classic. We failed in the long run first and foremost due to poor management. We also lacked capital, expert advice, marketing know-how, and we were pricing our product incorrectly. Off to a Great Start We started the business with great prospects, however. My husband Dave and I had dreamed of opening our own business for over ten years. Both of us craved the independence afforded us of working for ourselves, but between the two of us, we didn’t possess much in the way of small business management experience. I worked as an accounting and administrative clerk. Dave had a degree in construction management. He had managed a Winchell’s donut shop for two and a half years fresh out of college and then worked in residential construction as a construction manager and finish carpenter for five years. We became homebuilders in March of 1992. Our goal was to build beautiful, affordable new homes for clients and we named our company Affordable Dream Homes. We started the business with the tools Dave...
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...Dwelling Souls of Two The film, The Social Network, is about a Harvard student named Mark Zuckerberg who has the idea along with the abilities and programming knowledge to create a website called Facebook. But with the help of his best friend Eduardo Saverin, the first project, Facemash, was a successful one yet a failure. After Eduardo's big financial contributions to Facebook, they decide to expand. Their expansion makes the co-founder of Napster, Sean Parker, become interested in their new website. Mark takes Sean's advice while Eduardo tries to find advertisement in New York City. At the Facebook Celebration Party, Eduardo is notified that his shares of the company have been diluted from 34% to 0.03%. At the end of the film, Sean Parker and some of Facebook's interns are arrested for having possession of cocaine. Between Mark, Sean, and Eduardo's interest, the friendship among everyone seemed to become worse. The Social Network indicates that differences among best friends can ruin their friendship. I agree that differences among best friends can weaken or end their friendship because my experience with my best friend confirms it. First, I agree that differences among best friends can weaken or end friendships because of arguments. The opening scene of the film shows Mark and Erica at the Thirsty Polar Pub conversing about final clubs and later they get into an argument. The argument begins because Mark tells Erica that she needs to be supportive because if he gets in a final...
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...‘Consumer Banking of Standard Chartered Bank’ PREFACE On completion of requisite courses and a comprehensive examination of M.B.A of Chittagong University are required to undertake an internship program. In order to implement this program, each of them is attached with an organization. After the completion of internship program every student is required to prepare a report on a selected topic on the organization where he/she has been attached. The basic purpose of this attachment is to expose the student to the real Business world and acquaint himself/herself with the current operations & practices in modern Business. This exposure is very helpful in comprehending how things move on and to find the gap between theory and practical operation. This report also originates from that some perception about the practical situation as a fresh student. Actually this report comprises how a student has perceived the real situation in the business. As I am being attached with the Standard Chartered Bank, so I always tried of my best to observe how they deal with their Customer. I also studied about their working environment and how to process Credit and Collect outstanding. As a consequence, I have put theoretical glimpses of the key points wherever necessary and have tried to knit a relationship with this observation. Comments and suggestions for future development of the report or any concept will be appreciated. EXECUTIVE SUMMARY I here, who am a...
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...Plan your business as a teenager A business plan has to be written down for a future business plan. The plan will guide you step by step to make it much easier to start. It will also help you in how to plan in doing it. Business plans are naturally imperative. You start here, today, with certain resources and capacity. You want to get to a there, a point in the future (usually three to five generations out) at which time your business will have a particular set of resources and abilities as well as greater judiciousness and increased benefits. Your plan shows how you will get from here to there. Well, we cannot just start a business without knowing what we want to trade to sell to promote to partnership to import to export independent contractor to home-based bossiness and many others you can think of. You will commitment an idea for a business earlier than you do anything else. This you potency does entity you are sensual about; because you’re new business will explore a great arrangement of your time and money. Consider if it is achievable. Before going too far, think about how plausible your concept is. Is it something that society would actually spend money for? Will it turn abundant of a profit to be value spending your time to create it or absolutely do it? You will additional Plan your business as a teenager A business plan has to be written down for a future business plan. The plan will guide you step by step to make it much easier to start. It will also...
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...Internet Technology, Marketing, and Security BUS 508 - Contemporary Business Professor – Dr. John D. Theodore March 3, 2013 As we all know that businesses need techniques to assist get their specific audiences on the Internet. Search engine optimization, marketing with topics, and a new technique is used to complete this today. Social media advertising is indeed famous that a majority of new enterprises, or even a lot of existing types, is swiftly proceeding on the web in order to use these tactics. It is possible to improve the long run revenue of your respective business using the fantastic social media advertising ideas under. And there are many reasons that Social Media Marketing has become exceedingly popular among businesses of all sizes as the following. Millions upon millions of people around the world use the Internet every second of every day. The World Wide Web has basically changed the way in which we communicate with each other on a social level and with our coworkers, directors and customers in the professional arena. It has also revolutionized the way the modern business appeals to its target audience and this is primarily because the Internet enables people like you and me to search for any product (from a garden hose to a high performance sports car) or service, be it a dentist or a hairdresser, simply by clicking through the virtual pages of this truly fathomless ocean of information. (Patricia...
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...and find she is graduating this quarter in digital design. When she finds out you have just finished financial accounting I she asks if you will help set up and keep the books for her new company, Jessi’s Creative Design. Accounting was not included as part of Jessi’s program and she really needs some help. You did very well in financial accounting I and agree to get her started. Jessi will hire a CPA to file all tax forms and apply with the IRS for a tax ID number. You will keep the books and monthly send them to the CPA. The first step is to create a chart of accounts. Number your account categories-assets 100, liabilities 200, stockholders’ equity 300, revenue 400, and expense 500. Next, number the accounts within the categories. Be sure to leave numbers open for when you need to add accounts. Use the following accounts in your chart of accounts: • • • • • • • • Cash Accounts receivable Equipment Prepaid subscriptions Supplies Accumulated depreciationequipment Prepaid advertising Accounts Payable • • • • • • • • • Unearned revenue Common stock Retained earnings Dividends Sales Advertising expense Supplies expense Photo expense Depreciation expense After Creative Design’s first month of operations your friend delivers to you a stack of invoices, check stubs, receipts and her first VISA-Business bill. You must decipher these in order to enter them into the accounts. After sorting through the source documents you make a list of transactions for the first month, April: 1. Jessi...
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...Plant Manager. You and Sean have always gotten along great, you respect him, and you are also friends outside of work. You go running together several days a week, and your families have cookouts or go camping together on the weekends. You trust Sean, and often ask his advice on personnel issues. Recently, it was brought to your attention that Sean does not have a bachelors degree, and that when he applied for the promotion, he stated that he did on his resume. A bachelors degree is a requirement for the Assistant Plant Manager position. It is stated in the job description. When you confront Sean, he admits he lied about having the degree. He is contrite, but also angry. He says he’d been at the company six years when he was promoted, and he knew he could do the job. He was never going to be offered it without that degree. And he was working so many hours, he’d never had time to go back and take the courses required to get the degree. And furthermore, he said, having the degree makes no impact on someone’s being able to do the Assistant Plant Manager job. It’s all about people skills and knowledge of their product. Last, he reminds you of your longstanding friendship and the connection between your families. Discussion Questions: What are the first steps you’ll take? This is a situation where ethics and personality along with emotion may interfere with sound business decisions. However, in this day and time, people cannot let areas of non-detachment persuade...
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