How to start a vending machine franchise: Starting a business advice and business ideas #business #email #address
#vending machine business
How to start a vending machine franchise
Vending machines are pretty much part of our everyday lives. Drinks, snacks and all manner of personal goods are dispensed into our waiting grasp at the push of a button. But just because this process involves no human interaction doesn t mean the machine did it all by itself.
A vending franchise is the means to this end and it often proves to be a surprisingly varied career opportunity.
What is it?
The world of vending machine franchises is not large but considering the products on offer, it is significant. Unusually among franchises there are a number that can be run on a part time basis as well as full time so you can largely choose your hours. Although be aware this is not the case with all.
Drinkmaster largely does what it says on the franchise. It provides machine dispensed coffee, tea, chocolate and soft drinks as well as soft drinks like orange, blackcurrant and so on.
The franchisee s job is to promote the brand to potential customers throughout a designated territory, deliver products and provide customer care. And although it is their job to grow the territory, they have an existing client base from day one.
SSL International is the parent company of Durex vending, which services mainly pubs with condom vending machines. Unlike the others this is only a fulltime franchise but you make your own appointments so is therefore still flexible in terms of hours.
Some technical aptitude is required for the work as you are required to service machines as well as re-stock and collect money. But to really grow the business, you will also need to find new business so a good way with people is also a helpful attribute.
A Vendor supplies bottled Evian and Volvic flavoured water to any public space that might provide a marketplace: schools, leisure centres and so on. This is really a part time franchise at least to start with 10 machines can be serviced in one day. It is ideally suited to people who want an extra income.
Want to run a more profitable business?
More from Startups
Is a Home Business Right for You?
Every morning as people wake up and make the commute to work, many dream of the day when they will finally work for themselves. Every time the boss lets someone know that they must give up their weekend plans for the good of the company, people contemplate the benefits of being the owner of their own business.
Are you one of these people?
If you are, it is important to ask yourself some very important questions before you make the uncertain leap into self-employment.Many dream of the benefits of home business ownership, but few take into account the sacrifices that must be made to bring the dream to fruition. Please don t make this mistake yourself.
You must approach home business ownership with your eyes wide open. Ask yourself the important questions, and more importantly, answer your own questions openly and honestly.
AN IMPORTANT CONSIDERATION
Are you the type of person who relishes every chance to gather around the water cooler for social interaction? If so, then home business ownership may not be the right decision for you.Instead, if you feel that you can be quite content sitting alone at your desk; speaking only to clients and really minding your own home business, then you might have what it takes to succeed as a home business entrepreneur at IDLife .
If you feel at ease with your own company and don t need a dozen coworkers milling around your desk, then you, too, could savor the freedoms that will allow you and your family, to live the lifestyle you know you want and deserve.
THE KEY TO HOME BUSINESS SUCCESS
Self-motivation is the key to success when you start a home-based business. You need to possess the ability to push yourself ahead. Your drive and determination will be reinforced with every new sale. The level of success that you will achieve greatly depends on the time and effort you are willing to plow into your new home business.
Your organization, planning and marketing skills, will all be put into practice when you embark on your liberating journey from employee, to being your own boss. In fact, you will be the wearer of many hats and gain a wealth of business experience along the way, when you finally make that commitment to work at home.
Finding the appropriate products or services to market should not be over-looked as well. You need to find what you are passionate about or the fun of working for yourself will turn into another job that you hate. Consider IDLife products as a potential outlet for your business or other recurring income opportunities.
YOUR SUCCESS RESTS ENTIRELY UPON YOUR OWN SHOULDERS
You will now be the boss. Are you truly able to work independently? Do you have the drive; the tenacity, to persevere with your home based business? Will you be able to invest the necessary time to nurture it, to watch it grow and see it through, from germination to full, glorious bloom? When you re the boss, you are responsible for the success of your home business, from A to Z, from disappointments to victory.
When you work at home, it will empower you to achieve many things you were unable to do when you were stuck working for that tyrant boss. Remember him? He s the guy that wouldn t let you take time off when your baby was sick the same guy that called you in to work on Thanksgiving Day.
A home business means that you can take good care of your family and make money from home, simultaneously. You will have the best of both worlds! Just think no more dirty laundry piling up you can do it while you work. No more scurrying around at the last minute searching for a babysitter either. And no more worrying about getting fired; you ll be the boss!
Stay positive and focused on your home based business, even if, when sales aren t up to par, you get occasional negative remarks or derogatory comments from people with stuffy, dead-end jobs. Ignore their cutting words and bear in mind that success is the best revenge! Keep your admirable, positive attitude at the forefront and show them what you re made of!
Choosing a business name is an important step in the business planning process. Not only should you pick a name that reflects your brand identity, but you also need to ensure it is properly registered and protected for the long term. You should also give a thought to whether it’s web-ready. Is the domain name even available?
Here are some tips to help you pick, register, and protect your business name.
Factors to Consider When Naming Your Business
Many businesses start out as freelancers, solo operations, or partnerships. In these cases, it’s easy to fall back on your own name as your business name. While there’s nothing wrong with this, it does make it tougher to present a professional image and build brand awareness.
Here are some points to consider as you choose a name:
- How will your name look? – On the web, as part of a logo, on social media.
- What connotations does it evoke? – Is your name too corporate or not corporate enough? Does it reflect your business philosophy and culture? Does it appeal to your market?
- Is it unique? – Pick a name that hasn’t been claimed by others, online or offline. A quick web search and domain name search (more on this below) will alert you to any existing use.
Check for Trademarks
Trademark infringement can carry a high cost for your business. Before you pick a name, use the U.S. Patent and Trademark Office’s trademark search tool to see if a similar name, or variations of it, is trademarked.
If You Intend to Incorporate
If you intend to incorporate your business, you’ll need to contact your state filing office to check whether your intended business name has already been claimed and is in use. If you find a business operating under your proposed name, you may still be able to use it, provided your business and the existing business offer different goods/services or are located in different regions.
Pick a Name That is Web-Ready
In order to claim a website address or URL, your business name needs to be unique and available. It should also be rich in key words that reflect what your business does. To find out if your business name has been claimed online, do a simple web search to see if anyone is already using that name.
Next, check whether a domain name (or web address) is available. You can do this using the WHOIS database of domain names. If it is available, be sure to claim it right away. This guide explains how to register a domain name .
Claim Your Social Media Identity
It’s a good idea to claim your social media name early in the naming process – even if you are not sure which sites you intend to use. A name for your Facebook page can be set up and changed, but you can only claim a vanity URL or custom URL once you’ve got 25 fans or “likes.” This custom URL name must be unique, or un-claimed.
Register Your New Business Name
Registering a business name is a confusing area for new business owners. What does it mean and what are you required to do?
Registering your business name involves a process known as registering a “Doing Business As (DBA)” name or trade name. This process shouldn’t be confused with incorporation and it doesn’t provide trademark protection. Registering your “Doing Business As” name is simply the process of letting your state government know that you are doing business as a name other than your personal name or the legal name of your partnership or corporation. If you are operating under your own name, then you can skip the process.
Learn about the requirements in your state and how to file in this Registering Your Doing Business As Name guide.
Apply for Trademark Protection
A trademark protects words, names, symbols, and logos that distinguish goods and services. Your name is one of your most valuable business assets, so it’s worth protecting. You can file for a trademark for less than $300. Learn how to trademark your business name .
8 Reasons Not to Get a Business Degree
Last Updated Jan 24, 2011 5:46 PM EST
Business degrees are hot, but you might want to reconsider your decision. Here are eight reasons why you should not major in business :
1. Business majors don’t learn much in business school.
That’s one of the bombshell conclusions of Academically Adrift . a new blockbuster bestseller that suggests that 45% of college students don’t learn much of anything in their first two years of college, while more than one out of three students graduate with no improvement in writing and analytical skills.
Among the students who learn the least in college are social work, education and business majors . In contrast, the researchers found that students majoring in the humanities, social sciences, hard sciences and math do relatively well.
2. You won’t make as much money as you think.
When PayScale looked at starting and mid-career salaries of college graduates in dozens of college majors . business came in as the 56th best-paying college degree. It fared worse than such “impractical” college degrees as philosophy . history and American studies .
3. The job market is crawling with business majors.
It’s hard to stand out from the crowd when more than one out of every five new college grads is a business major . What you’re telegraphing when you major in business is that you want to make money, but do you have what it takes to some day earn that corner office?
4. Your quality of life could suck.
Prominent labor economists examined what Harvard Business School grads were doing 15 years after graduating and certain business majors were having a difficult time juggling career and home life. Here’s a post that I wrote about the study: The Perils of Majoring in Business .
5. Majoring in business could hurt your MBA chances.
Not having an undergrad business degree can actually help when applying to MBA programs . At some MBA programs less than 25% of their students possess undergrad business degrees. One study documented that business undergrads actually performed worse in MBA programs than non-business majors.
6. You don’t need a business degree to work in business.
You’re kidding yourself if you think a business degree gives you the skills to work in the corporate world.
A employer survey conducted by the National Association of Colleges and Employers indicates that workplaces most value these three skills that you are usually more likely to find with a liberal arts eduction:
- Communication skills.
- Analytic skills.
- Teamwork skills.
What’s more, a survey by the Association of American Colleges and Universities found that 89% of surveyed employees said they want college students to pursue a liberal arts education.
7. You can make more money with an economics degree.
On PayScale’s list of the highest paying college majors, economics came in No. 10. Engineering majors dominated the rest of the top-paying degrees. Economics is one of the liberal arts so you are more likely to learn how to write and think in college, which is what employers covet in their workers.
Illustrious econ majors include Warren Buffettt, Steve Ballmer, Ted Turner, Steve Fossett, Henry Kravis, Diane von Furstenberg, Esther Dyson, Bill Belichick and Mick Jagger
8. Your parents want you to major in business.
Don’t be a wuss and major in business because your parents are nagging you. If you’re pressured into majoring in business or any other major, studies show that you’ll be less likely to succeed professionally AND financially.
More on CBS MoneyWatch:
2011 CBS Interactive Inc. All Rights Reserved.
View all articles by Lynn O’Shaughnessy on CBS MoneyWatch
Lynn O’Shaughnessy is a best-selling author, consultant and speaker on issues that parents with college-bound teenagers face. She explains how families can make college more affordable through her website TheCollegeSolution.com ; her financial workbook, Shrinking the Cost of College ; and the new second edition of her Amazon best-selling book, The College Solution: A Guide for Everyone Looking for the Right School at the Right Price .
#investing in stocks
How to Open a Brokerage Account
NEW YORK (TheStreet ) — There are lots of brokerage firms out there. Each one will likely tell you that it can offer more for your investing dollar than its competitors can. It’s up to you to know what you should look for in a broker and what you need to do to open an account with one.
One of the first questions you’ll want to ask yourself when you start your search for a broker is: “Which brokers will let me open an account?” Some brokers have restrictions that limit who will be able to open an account with them. These restrictions usually boil down to age and money.
If you’re young and interested in investing, keep in mind that in order to open your own brokerage account, you’ll need to be a legal adult (usually 18 years old). If you’re not considered a legal adult yet, you can still invest, but your parents will need to set up a custodial account with your broker.
A custodial account is essentially an account set up for a minor for which the parents bear the legal responsibilities on the minor’s behalf. With a custodial account, you’ll still be able to trade stocks just as you would with your own account, but your parents’ names will be on the account as well.
Another thing you’ll have to think about is the minimum account balance required by your broker. Most brokers require a minimum account balance for the same reason that banks do: They make money by lending your cash out to other customers in exchange for interest. Because it’s expensive for a broker to maintain your account, they have to be sure that you’re bringing in enough incremental revenue to cover the expenses of having you as a customer. As points of reference, minimum balances for online discount brokers are usually between $500 and $1,000.
#new business ideas
I started thinking up potential large businesses to start a few years ago. It was, for lack a better term, a teaching tool.
I was looking for a way to communicate that the place to begin, if you are thinking of trying to start a company, is with a market need-and not a new idea.
Ideas are too easy. My guess is you could come up with 10 new business concepts before lunch, if you had to.
The problem is once you come up with that idea–say you are going to construct real housing out of Lego blocks, something that has always struck me as a cool idea==you then have to go and figure out if it is feasible, and if anyone-other than an 8-year-old-would live in if it were.
If you have identified a market need, then you are assured that you have a market–the people who have the need.
But is starting with the market need the only way to start a business?
Obviously not. You could start with the idea. And therein lies a potential benefit for you.
Each of the following ideas are yours for the taking. (All I ask is you make a large contribution to the charity of your choice should they make you rich.)
1. Personal shopping for the masses
This one struck me over the holidays. It has been a long time since I had to go shopping for 8-year-olds. Wouldn’t it be lovely if there was a personal concierge you could call who could walk you through what is popular and/or appropriate? High end department and clothing stores already have this service. This would make it available for the rest of us. (And if mass market stores like Target and Toy “R” Us wanted to offer this service to me, I would be happy to pay them for it.)
2. No more, “For customer service, please hold.”
I am usually willing to trade (a little bit of) money for (a little bit) more time. And while you can do mundane things while waiting on hold when you call the cable, phone or electric company, it really is a) annoying and b) the classic waste of time. Your charge? Figure a way that I can pay a couple of dollars a month in exchange for the various companies letting me jump the line when I need help. I don’t think it would be that hard. It really is just a different form of caller ID.
3. A place where you can sell your killer recipes
There are literally millions of great cooks out there. (My wife among them.) And invariably a great cook comes up with a great recipe–or 10. There should be some sort of marketplace to sell them. This idea already exists in other places. For example, people who crochet can sell the patterns they create on Etsy.com
As I said, I am not going to be doing anything with these ideas. I hope they make you a fortune. (As I said, just play it forward once you do.)
How to Get a Business License
If you are planning on starting your own business. chances are that you will need some type of license or permit – maybe more than one – to move forward legally. A business license is a permit issued by a government agency that allows business to be conducted in said government’s geographic jurisdiction. By and large, your state or local government will determine which licenses and permits are required to operate in its jurisdiction. Additionally, the federal government requires special licenses for certain industries.
Why Is a Business License Required?
Obtaining a business license is necessary for three main reasons:
- So the government can track taxable revenue
- So consumers are protected in federally regulated industries
- So that you may demonstrate your level of professional expertise
Determining the requirements for your business is the first and most important step.
Identifying License and Permit Requirements
Business licensing requirements are determined by:
- Business activity
- Physical location
The U.S. Small Business Administration provides a great resource for determining the licensing requirements in your area. After entering in your local zip code and the type of business you are starting, you are presented with a list of the permits and licenses you will need along with the locations at which you can find the requisite forms.
Before you can apply for a license, you will need to determine your business activity code. which is based on the North American Industry Classification System (NAICS). In order to select the proper code, you must determine the activities from which your business will derive the largest percentage of its total receipts, which is defined as the sum of gross receipts or sales plus all other income.
The Internal Revenue Service requires businesses to register to receive a Federal Tax Identification number. also known as an Employer Identification Number (EIN). Your business will need an EIN if you can answer yes to any of the following questions:
- Do (or will) you have employees?
- Do (or will) you operate your business as a corporation or a partnership?
- Do (or will) you file any of these tax returns: Employment, Excise, or Alcohol, Tobacco and Firearms?
- Do (or will) you withhold taxes on income, other than wages, paid to a non-resident alien?
- Do (or will) you have a Keogh plan ?
- Are (or will you be) you involved with any of the following types of organizations?
Trusts, except certain grantor-owned revocable trusts, IRAs, Exempt Organization Business Income Tax Returns
Real estate mortgage investment conduits
Licenses and Permits
If your business will fall under the regulating eye of a federal agency, you will need to obtain the corresponding federal license or permit. Examples of business activities that may require such licenses include:
- Alcoholic beverages
- Firearms, ammunition and explosives,
- Fish and wildlife,
- Mining and drilling
- Nuclear energy
- Radio and Television broadcasting
- Transportation and logistics
Permits can usually be found online, on the website of the entity that regulates the specific regulated activity the business will engage in. For example, if your business is involved in agricultural activities, you can find the necessary applications at the website for the U.S. Department of Agriculture. If you plan to broadcast your own television or radio program, you can find the necessary application online via the Federal Communications Commission .
It will also be necessary for you to register for applicable tax permits with state and local agencies. For instance, if your business will be selling goods or services, and you are operating in a state which levies an income tax, you will be obligated to obtain a tax license so that the state can track your taxable revenue. Contact the license commissioner in your county or municipality and the office of your state’s Secretary of State to find out the exact requirements that apply to you.
Even sole proprietorships run out of someone’s home are required to obtain business licenses in some areas. These can include:
- General business licenses
- Trade licenses (such as a license to operate a child care service or sell real estate)
- Sales tax permits
- Health and safety permits
- Sign permits
- Zoning permits
Filling Out and Filing the Forms
Once you figure out the licenses and permits you need to legally register your business, you will then need to fill out the necessary forms. These can be obtained from the appropriate federal or state agencies, and they usually can be found online. You may print the forms, fill them out, and mail them back to the agency; however, in many instances you will be able to fill out the forms and submit them online. Regardless, information you can expect to disclose may include, but not be limited to, the following:
- Type of business
- Business address
- Name of business owner
- Contact information
- Federal ID number
- NAICS code
- Number of employees
Expect to pay a filing fee, which can range from around $50 to hundreds of dollars or more, dependent upon the region you are filing in and the types of activities your business will be conducting. Fees are often calculated as a percentage of revenue, with a base minimum for new companies. The time it takes to receive your license can vary from a few days to a few weeks.
Obtaining the necessary licenses and permits for your business is required in order to operate legally. Moreover, the task is not a one-time occurrence. Most licenses and permits will need to be renewed periodically. For example, if you are running a restaurant with a bar, you will need to renew your liquor license once a year.
While this process can seem daunting, being familiar with the steps will go a long way in making the experience as painless as possible.
#top ten business ideas
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Read a 300-page book in 90 minutes with text streaming
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As online content continues to be increasingly consumed through mobile platforms, it s no wonder we re seeing new formats to deliver information more quickly and fluidly. In the past, we ve seen Wibbitz present any news story as a visual and dynamic infographic instead of plain old text. But now Spritz believes that humans can read much faster using its system of streaming text at up to 600 words per minute.
Developed for smartphones and watches, the company has spent the last three years researching and trialling its system of what it calls text streaming . Based on the theory that most readers are slowed down in the information intake by the movements of the eye as it scans lines of text, Spritz squeezes entire novels into a small, 300 pixel-wide space and instead flashes each word for a brief fraction of a second. According to the developers, each word has an optimal recognition point — a letter that the eye searches for once it s jumped to that word in traditional text — and Spritz aligns all of its words around that letter, so it s in the same place each time.
The system, which can be trialled on the Spritz homepage, offers different speeds according to the abilities of each user. This is 250 words per minute:
This is 350 words per minute:
This is 500 words per minute:
While the system may seem overwhelming at first, those who master the higher speeds could boost their productivity immensely. Spritz is currently working to bring the technology to Samsung smartphones and its Galaxy Gear range, although a standalone app for other devices may not appear for a while yet. Are there other ways to reformat text for the web?
Mobile-only magazine offers writers unique payment model
App digests news articles as quick video summaries
Online news content, read aloud by professional voice actors
Join the Discussion
#business acquisition loan
How to Finance a Business Acquisition
Business experts often say that it costs less to buy an existing business than to build one from the ground up. If you are an entrepreneur looking into purchasing a business, there are a few items to consider when seeking financing for the acquisition that may strengthen your viability as a loan candidate and your ability to tap into a variety of potential financing sources.
Most lenders will want to review your business plan, and you should also determine the economic status and value of the business you re considering buying. Review the financials and consider having your banker and/or trusted financial advisor also review the numbers. Ascertain the value of the business, including any equipment, real estate, inventory and other assets.
To increase your viability as a loan candidate, convey your industry expertise and any management know-how to your potential lender. Lenders look for candidates who exhibit strong potential for success after acquiring the business. Show lenders that the transition period will run smoothly, and consider keeping existing managers on staff to help ensure an easy transition. Seasoned employees can also help you learn the inner workings of the business and help secure extended contracts with existing customers.
When seeking financing, consider these lending sources:
- Family, friends or angel investors. Lenders will likely expect the buyer to provide between 20 percent and 50 percent of the capital upfront. If you do not have the initial capital to invest in the business, consider borrowing from family and/or friends. Another option may be angel investors–wealthy individuals who make equity investments in businesses at the early stages. They typically have expertise in the fields of businesses in which they invest and can also offer their resources and contacts.
- Seller financing. Consider asking the seller if he or she can provide financing for the sale of all or some of the business. In some cases, sellers may provide a very reasonable interest rate. Some seller financing can also prompt other lenders to invest in the venture.
- U. S. Small Business Administration. Many lenders across the country offer small-business loans guaranteed by the U.S. Small Business Administration (SBA). These loans may provide more lenient and flexible financing for qualifying borrowers.
- Financial institutions. While the industry is still in the midst of a tight credit market, the fundamentals for loan qualification remain important. They include demonstrating positive cash flow, solid management experience, industry expertise and a strong credit report. Banking relationships are also a significant part of the equation. It is important to cultivate and maintain a relationship with your banker, keeping him/her well-informed about your business experience within a particular industry. Many banks, also have special lending programs for women-, minority- and disabled-veteran-owned businesses.
Be prepared and stay informed when seeking financing for an acquisition. It is not unusual, especially in a tight credit market, for business owners to seek a variety of lending sources.
The foregoing article is intended to provide general information about financing an acquisition and is not considered financial advice from Union Bank. Please consult your financial advisor.