Tag: Company

Some analysts question whether Office Depot plan will rejuvenate company – Sun Sentinel #business

#office depot business

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Some analysts question whether Office Depot plan will rejuvenate company

Office Depot plans to close 300 more stores

Office Depot announced Wednesday plans to close 300 more stores nationwide over three years. CEO Roland Smith said the company is making good progress despite the disruption from the year-and-a-half long merger attempt with Staples.

Office Depot announced Wednesday plans to close 300 more stores nationwide over three years. CEO Roland Smith said the company is “making good progress” despite the disruption from the year-and-a-half long merger attempt with Staples.

Marcia Heroux Pounds Contact Reporter

Office Depot stock gets bounce but long-term turnaround in question

One day after Office Depot CEO Roland Smith offered his first glimpse at how he intends to turn around the Boca Raton-based retailer, some industry analysts said they were, for the most part, not wowed by the plans.

They agreed, though, Smith had done what he had to do to boost Office Depot’s fallen stock.

Jefferies analyst Daniel Binder says Office Depot’s $250 million cost-savings plan, announced Wednesday, does little to really reinvent this company.

In his report on the retailer on Thursday, Binder said a second round of store closures 300 on top of the 400 already closed is, not surprisingly, part of the the new strategic plan.

Retail analyst David Marcotte said he also was not surprised by any of Smith’s cost-cutting or future plans. However, by initiating a dividend and announcing strategies that boosted the stock, Smith made a successful move to deal with investors in a very difficult market. At the end of the day, you have to take care of investors, Marcotte said.

Office Depot’s store of the future

Randy Vazquez / Sun Sentinel

Bethany Simpson, center, helps customers at the Office Depot in Margate on Wednesday. This location offers services such as professional printing and a business pro section that is designed to cater to business owners.

Bethany Simpson, center, helps customers at the Office Depot in Margate on Wednesday. This location offers services such as professional printing and a business pro section that is designed to cater to business owners.

(Randy Vazquez / Sun Sentinel)

Office Depot stock rose 6 percent on Wednesday and closed at $3.51, up 3 cents or 0.86 percent, on Thursday. The stock has a 52-week range of $3.11 to $8.09. In May, both Office Depot and Staples’ stocks plummeted after their failed merger.

Mike Baker, analyst with Deutsche Bank Research in New York, said in a report Thursday that Office Depot has a well thought-out and reasonable plan to improve their business trends. We think they are heading in the right direction.

Still, Deutsche maintains a hold on the stock because Office Depot continues to fight market-share losses that are leading to sales and profit declines. Jefferies also rates the stock a hold rating.

Beyond cost cutting, Office Depot also is launching Business Select, a special program to better serve small businesses; increasing its product line in janitorial and break-room supplies; and further investing in education-related sales.

Office Depot and Framingham-Mass.-based Staples ended their planned merger on May 16 after an 18-month challenge by regulators. A U. S. District Court judge gave the Federal Trade Commission a preliminary injunction to block the merger and Staples and Office Depot decided not to fight it.

Moving forward, Smith said one plan is to focus on smaller format stores with special services for small businesses and a curated selection of products. Four stores of the future have been rolled out, including one at 5500 W. Sample Road in Margate, he said.

Office Depot said it would expand the new format to 24 stores this year and 100 in 2017.

Marcotte said smaller stores are cheaper to run, with less labor, and easier to close if they don’t work out. The larger format stores that Office Depot currently has are expensive to close.

In its conference call Wednesday, Office Depot said it had expected a lower transfer rate of customers than the 30 percent it saw with the 400 stores it closed as of its second quarter.

While Office Depot swung to a quarterly profit compared with 2015’s second quarter loss, the retailer saw a 6 percent sales drop to $3.2 billion, compared with $3.4 billion in the same quarter in 2015.

Marcotte said rival Staples hasn’t instituted many changes since the merger failure, except dropping Staples Connect, its proprietary smart-home and office product. He said Staples already has smaller format stores.

Staples is scheduled to announce its second-quarter earnings on Aug. 17.

Longtime Staples CEO Ron Sargent stepped down June 14. Company veteran Shira Goodman was named interim CEO while executive recruiter Korn Ferry conducts a search for a permanent successor.

Office Depot lost one of its own top executives recently. Chief legal officer Elisa Garcia resigned, effective Aug. 17. Macy’s announced her appointment as its chief legal officer.





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Enhanced Small Business Investment Company #sell #a #business

#small business investment company

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Enhanced Small Business Investment Company

Enhanced Small Business Investment Company (ESBIC) makes debt and minority equity investments in U.S.-based lower middle market companies across most sectors. Investment professionals work closely with management teams to create innovative investment solutions and bring valuable experience and a broad professional network to provide added value to portfolio companies.

For more information about ESBIC, please contact

Products

  • Senior secured loans
  • Second lien loans
  • Mezzanine term loans
  • Minority equity

Transaction Types

  • Growth capital
  • Recapitalizations
  • Refinancings
  • Acquisition financings
  • Buyouts

Focus

  • Invest $3 million to $20 million per transaction
  • Ability to invest larger amounts through our limited partner relationships
  • Sponsored transactions
  • Non-sponsored transactions

Company Criteria

  • Revenue > $10 million
  • EBITDA > $2 million
  • Headquartered in the U.S.
  • Sound historical financial performance

Highlights

Enhanced Small Business Investment Company, LP (ESBIC), an affiliate of Enhanced Capital Partners, Inc. announced it recently provided $4.0 million in senior secured debt financing to HomeTown Oxygen. This transaction was one of four investments closed by ESBIC in the fourth quarter of 2012.

Enhanced Capital, through its SBIC fund, Enhanced Small Business Investment Company, LP, announced it recently purchased $9.0 million of senior subordinated notes issued by Masthead Industries, Inc. Masthead is engaged in the wholesale distribution of industrial and hydraulic hoses and fittings, hose assembly systems, and mobile repair service carrying over 46,000 SKUs. Enhanced s investment supports the acquisition of Hosepower USA, Inc.





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Business Banners, Company Banners #women #in #business

#business banners

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Banners To Advertise Your Business

Free banner templates for business you can customize your way using our sign design tools

eSigns has one of the largest selection of free business banner templates for your sign needs than any other printer on the Internet. Each of our templates can be customized to represent your company in the exact way you need by modifying the themes in our online banner design tools. We have categorized our free banner themes by industry and use type to try and make finding the designs that are right for you as easy as possible. Browse our categories, and choose the theme that best fits the advertising campaign that is right for you, and after you have customized your design to suit your needs, eSigns will ship as many vinyl business banners as you need within 24 hours.

Retail Banners
Hundreds of retail banners we have created free banner designs for, and they are used to attract consumers to sales events, special offerings and community involvement more.

Store Banners
Banners categorized by the type of store you have. Choose this to find your store’s business model to find free store banner templates that you can easily customize to be the exact advertisement you have in mind.

Restaurant Banners
Helping restaurants, food preparation businesses, caterers, food markets and other food related businesses with the vinyl banners these business models use to advertise their products and services to local communities.

Home Interior Stores
Free banner templates that you can customize for advertising your furniture store, antique shop or used furniture consignment store. Any of our professional designs can be customized to suit any advertising campaign that suits your needs.

Outdoor Living Retailers
If your business caters to outdoor living products, these free outdoor banner templates can be fully customized by home and garden stores, nurseries, fire pit / outdoor appliance companies, to create the perfect advertising campaigns for in-store sales, and exterior direct promotions.

Supply Store Businesses
Free vinyl banner templates for supply stores that can be easily customized for any advertising campaign, seasonal thank you, or any other messages, graphics and artwork you want to include to ensure you have an easy platform for creating high quality, professional vinyl banners.

Florists and Gift Shops
By providing free flower banner themes, and free gift shop banner templates, combined with the cheapest price on vinyl banners you can find regardless of size, eSigns prides itself on helping the locally owned gift shops and florists.

Clothing Stores
Choose from our categories of free clothing banner designs to begin customizing vinyl banners to fit the promotion you have in mind. From in-store sales banners to outdoor advertising solutions that can be placed in a showroom window or on your building eSigns has the banners and templates to help you succeed.

Automotive Industry Businesses
These automotive industry categories have a huge selection of free vinyl banner templates specific to the automotive industry. Each can be fully customized to include photos, graphics, and the promotional message you need.

Buy Sell Business Models
When you business buys from consumers and sells what you have bought to distributors and other patrons that come into your store, these free vinyl banner themes will help you customize the perfect banners right for promoting you buying promotions and sales offers.

Affordable Tax Banners
From tax banners to magnetic signs, eSigns can apply any of the tax banner designs you have created using our sign design tools to any of the vinyl banners we sell.

Business Opening Banners, Moving, & Closing Banners
Business owners need banners for announcing transitional events in their business life, as well as dates and times they are open or closed. Whether your company closes for specific months in the year or you have to notify customers you are still open during special circumstances like remodeling or construction, these vinyl banners are important to the day to day operations of a business.

Valentine’s Banners
Free Valentine’s Day Banners you can easily customize for gift sales events, wishing your customers a happy Valentine’s Day and more. Customize them using our sign designs tools, and apply these Valentine’s designs to any of Vinyl Banners we sell.

Religious Banners
Free religious sign designs that you can fully customize and apply to the vinyl banners, yard signs and other signage products we sell specifically for Church & Religious Events. From no-curl double sided church worship banners perfect for hanging from the ceiling in your sanctuary to mesh style, stand alone, outdoor church banners that could be installed in our outdoor church sign frames to promote Church functions, Choir performances and special Church events.

Church Banners
Colorful Church banners by eSigns can be easily made using our free church banner templates and design tools for customizing your vinyl banners to include any artwork, graphics and religious message you need to communicate.

Easter Banners
Pastors will use Easter banners to convey scripture, while secular celebrations will promote their events with the Easter Bunny and use images of those colored eggs to promote an Easter Egg Hunt. Whether your church is planning sunrise services, or you need to design vinyl banners for a photo opportunity with the Easter Bunny, eSigns has created a huge selection of free Easter banner designs you can customize and apply to any of the Banners we sell.





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Car Wash Self-service Business Plan Sample – Company Summary #business #card #designs

#car wash business

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Car Wash Self-service Business Plan

Company Summary

Auto Paradise is a dynamic start-up company that will provide exceptional car care services to the members of the San Angelo community. Quality services that exceed expectations will establish Auto Paradise as the premiere car wash service in San Angelo, Texas. It will provide that following products and services to the local community:

  1. Two Laser Automatic “touch-free and spot-free” car wash bays
  2. Four “self-serve” bays
  3. Vacuum and car wash vending services
  4. Reverse osmosis drinking water.

Auto Paradise will establish its first location one lot from the intersection of Avenue N and Byrant Avenue, which are two of the busiest streets in San Angelo. The lot faces Avenue N and will be accessible from two sides. The ATM and RO dispensers will be accessible from a side road and will not interfere with the car wash traffic.

The facility will have two automatic car wash bays, four self-serve bays and an equipment room/office in the middle of the bays. It will also have four high powered vacuum islands (eight total vacuums), vending area, and an ATM/RO water area.

2.1 Company Ownership

Mr. Lewallen will create Auto Paradise as a Texas C corporation based in Tom Green County. Mr. and Mrs. Lewallen will be the majority owners (80%) with principal investors owning the remaining 20%. As of this writing, it has not yet been chartered and Mr. Lewallen is still considering alternatives.

2.2 Start-up Summary

Total projected start-up expenses (including construction, equipment, land, landscaping and related start-up expenses) come to $934,100. The start-up costs are to be financed by direct owner investment and long term financing.

A. Investment Options. Auto Paradise will open approximately 90 days after securing financing. Mr. Lewallen is offering several ways to invest in Auto Paradise:

  1. Company stock: Mr. Lewallen is offering 20% of company stock to investors. Auto Paradise is offering 1% of company stock for $7,500. Capital will help establish the first Auto Paradise location and provide “head start” on the second location. Auto Paradise plans to distribute $2,500 per 1% share each of the first three years.
  2. Secured Investment: Mr. Lewallen is offering a guaranteed 10% return for a three year investment. Mr. Lewallen is willing to secure these investments with personal assets/investments.

B. Financing. The SBA loan that Mr. Lewallen will secure from the SBA is structured to ensure Auto Paradise’s success during the early months of operation. The $740,400 loan includes two elements designed to help build operating capital. First, the loan includes a 10% ($69,000) construction contingency that will convert to operating capital if the construction costs are consistent with the estimate. It also includes 9 months of interim interest which will defer the long-term mortgage payment for 9 months (6 months of operation).

C. Land. Auto Paradise is in the process of securing a lot near (one lot from corner) the intersection of Bryant Ave. and Avenue N, which are two of the busiest streets in San Angelo. The lot will be 165′ along Avenue N and 175′ deep. The purchase is pending the results of a phase I environmental inspection, which is expected to produce favorable results.

D. Construction. Getting a firm construction bid is the next step in the process after securing the initial investors. The architect plans and an actual bid will be the last elements necessary to secure bank financing. The estimates included are from previous projects and are considered generous (on the high-side). The estimated $390,000 includes total construction costs for two automatic and four self-serve bays, parking lot, signage, landscaping and architect fees.

E. Construction Contingency. The 10% construction contingency will cover any unexpected expenses or shortfalls. This may be re-negotiated as a “line of credit” in order to reduce the amount of the loan.

F. Equipment. Washing Equipment of Texas (WET) has provided a detailed estimate for the purchase and installation of the equipment for two automatic bays, four self-serve bays, four vacuum islands (eight vacuums) and a reverse osmosis water dispenser. WET, which is located in San Angelo, will also provide all maintenance and repair services.

The assumptions are shown in the following tables and chart.

Need actual charts?

We recommend using LivePlan as the easiest way to create graphs for your own business plan.





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Company addresses #business #documents

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Company addresses

We explain how companies registered in Australia need to keep their email and address details up to date with ASIC.

How to change company addresses

You can make a change of address through ASIC’s website. It’s important to keep your information up to date so you receive information and avoid late fees.

To change your company addresses:

  1. Register for online access using your company’s corporate key
  2. Log in to our online portal with your company’s ACN or ABN
  3. Enter your username and password
  4. Select ‘Start new form’ and select ‘Change to company details’ (484)

You can then update all address details online. Any address changes will show on our register within seven days.

How to check your current company address details

To check your current company addresses you can:

  • Log in to your company officeholder account, or
  • Search our registers for your company details.

If your address details are incorrect, use our online services to update them.

What address details ASIC need

All Australian companies must give ASIC:

  • the address of their registered office and principal place of business
  • the residential address of each officeholder, and
  • the address of each member of a proprietary company (if there are less than 20 members),
  • the contact address if the company chooses to have one.

These addresses are visible when conducting a company search .

If we receive information that an address may be incorrect or when mail we have sent gets returned we may highlight this fact in our register .

Where does ASIC send correspondence?

Officeholders registered for online lodgement will receive their annual statement online.

Otherwise, ASIC sends correspondence to the registered agent or contact address. If a registered agent or contact address is not available, the registered office address is used.

If we don’t receive a response and there are still unpaid invoices, we may send correspondence to an officeholder’s residential address.

ASIC is sending me mail for a company I’ve never heard of

If you are receiving mail for a company that isn’t located at your address, see ‘What to do if you receive mail for a company that isn’t yours’ .

Email address

You can notify a change to your email address through our online services .

If you’re registered for online lodgement an email is sent when the annual statement is ready.

Registered office

An Australian company must have a registered office to receive correspondence. A registered office does not need to be the same as the company’s principal place of business, but it cannot be a post office box.

If the company does not occupy the premises, the occupier of the address must give written consent to use the address as its registered office.

You must notify us of any address changes within 28 days. Once you’ve made the change online, the new address will appear on our register within seven days.

Registered agent

Registered agents must tell us of changes to their address as soon as possible by completing Form RA01 Notification to register, change details of, or cease as an agent .

Contact address

If you don’t have a registered agent, you can nominate a contact address where we can send correspondence by completing Form 486 Notification to nominate, change or cease a contact address for a company. This address can be a post office box.

If you have a registered agent you must cease them first by completing a Form 362 Notification by a company to nominate or cease a registered agent or contact addres s online .

Principal place of business

An Australian company must tell us the address of its principal place of business. It cannot be a post office box

Tell us of a change to your principal place of business address online. You must notify ASIC of any changes within 28 days.

Company officeholder’s residential address

You must tell us the residential address of all directors, alternate directors and secretaries of a company. The address cannot be a post office box.

Tell us of a change to a company officeholder’s residential address online by completing a Form 484 Change to company details.

You must notify ASIC of any changes within 28 days.

Proprietary company member’s (shareholder) address

You must tell us the address of a member (shareholder) of a proprietary company, whether they are an individual or a company. This can be a post office box.

Where a proprietary company has more than 20 members in a share class, you only need to tell us the address of the top 20 members.

Tell us of a change to a proprietary company member’s (shareholder) address online by completing a Form 484 Change to company details.

You must notify ASIC of any changes within 28 days.

Suppression of residential address

This may be because:

  • they have a silent enrolment status by the Australian Electoral Commission
  • they are not recorded on an electoral roll in Australia

If they are not recorded on the electoral roll in Australia, ASIC will decide if their usual residential address on the corporate register may put at risk their personal safety or the personal safety of family members.

Where there is no physical change to an address

If an Australian address changes, but there is no change in the physical location, you must still notify us by completing a Form 484 Change to company details. You must also attach a letter from the company officer or liquidator informing us that the address has changed.

For example, a lot number is now a street number or a town/suburb has changed due to alteration of council boundaries.

Provided that the physical location has not changed, late lodgement fees will not apply.

Charities

If your company, registered body or foreign company is a charity registered with the Australian Charities and Not-for-Profits Commission (ACNC) some of your reporting obligations to ASIC will no longer apply. Find out what to do if you are a charity .

It is important that you keep your company address information current to ensure you meet your legal obligations and to avoid paying late fees.

Using our online services is fastest and most convenient way to keep your company address up to date.

Related links





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Captive Finance Company Definition #stock #market #update

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Captive Finance Company

What is a ‘Captive Finance Company’

A captive finance company is a subsidiary whose purpose is to provide financing to customers buying the parent company’s product. Captive finance companies can range in size from mid-sized entities to giant firms, depending on the size of the parent company. Their range of services can also vary widely, from basic card services to full-scale banking. A captive finance company can be a source of significant profits for the parent organization.

BREAKING DOWN ‘Captive Finance Company’

A captive finance company is usually wholly owned by the parent organization. The best-known examples of such companies are the giant subsidiaries of the “Big Three” automakers, and the store card operations of large retailers such as Wal-Mart, Target and Sears.

Due to the size and scale of their operations, the captive finance companies of the Big Three car manufacturers: General Motors Acceptance Corporation (GMAC), Chrysler Financial and Ford Motor Credit Company – are arguably almost as well-known as their parent companies. Note that subsequent to the bankruptcy of General Motors in 2009, GMAC underwent a name change to Ally Bank and rebranded as Ally Financial in 2010.





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Business Credit Cards – All The Best Company Credit Cards #stock #exchange

#business credit

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MoneySuperMarket.com

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Compare business credit cards

Credit cards for business use feature a host of benefits including travel insurance, cashback, free additional cardholders, 0% on purchases and itemised billing.

Business credit card guide

What is a business credit card?

A business credit card is simply a credit card that is issued to a limited company or sole trader, as opposed to an individual consumer. It can be used as a way of facilitating staff spending, helping cash flow or even to temporarily finance operations.

How do business credit cards work?

Business credit cards work much like conventional credit cards in that borrowers will be given a credit limit and the balance can be paid off over time, subject to a minimum amount being paid each month.

You can also choose how many credit cards you want on your account depending how many staff you have or how many staff members you want to issue a card to.

Just like a personal credit card, a better business credit score will usually net you a better interest rate or other benefits such as interest-free periods, reward points or cashback.

But it s worth noting that business credit card providers may also check your personal credit score which can also affect the outcome of any applications.

What types of business credit card are available?

As with personal credit cards, there are numerous types of business credit card available, each with different perks and interest rates.

For example, there are cards available with interest-free periods on purchases, which are a great way to manage cash flow if money is tight; while cards that offer rewards points or cashback are ideal you use it regularly.

Remember though, for a cashback deal to be worthwhile, you must ensure that you pay the balance off in full at the end of each month. Don t fall foul of the interest charges which can typically vary from between a representative annual percentage rate (APR) of 16% (variable) and 26% (variable).

Other common incentives include; free travel cover, free purchase protection and the facility to add additional card holders free of charge.

What are the advantages of business credit cards?

Business credit cards offer a convenient way to pay for goods or services and can be used when placing orders over the phone or online. There is also the added convenience of allowing staff to buy work related items without having to submit an expenses form.

In addition, you can use the card to monitor expenditure and specify a different credit limit for each employee that carries a card. And giving members of staff a company credit card will be seen by them as a mark of trust which is great as long as they don t abuse it!

If used correctly, business credit cards are also a great way to build your businesses credit profile and, provided you pay off the balance at the end of each month, you will have access to interest free spending every month.

Why use MoneySupermarket to compare business credit cards?

As with any financial product, when looking for a business credit card it s important to compare the different products out there to make sure that you get the right one to suit your needs.

For instance, if you regularly spend on your card and clear the balance at the end of each month, then a rewards or cashback card would be more beneficial to you than a card with an interest-free period on purchases.

Or if you are using the card to make a large purchase that you will not have paid off by time any interest-free periods end then you may be better going for a card with a lower standard rate.

And MoneySupermarket s business card comparison tool will instantly compare a range of business credit cards so you can make an informed decision on which card is right for you and your business.

In addition, if you use the Smart Search tool, this will look for which products are best suited to you and rate your chance of acceptance so you don t have to risk getting rejected for credit and it won t leave a footprint on your credit file.

Your personalised chance of approval

We’ve taken the details you gave, and used them to show you personalised scores to tell you the chance that your application for each card would be successful.

Why is this important?

Every time you apply for a credit card, a mark is left on your credit score. That means it’s better get it right first time. Your scores help you understand which cards you have the strongest chance of getting.

It’s easy!

The higher the score, the stronger chance you have of getting the card. If you see a very low score, you’re probably better off choosing a different card.

Consider a different card Not eligible 1/10 2/10 3/10 4/10 5/10 Your chances are good 6/10 7/10 8/10 9/10 9.5/10 You’ve been pre approved

If you see a high score, you can be fairly confident. The scores aren’t a guarantee, as acceptance of your application is at the sole discretion of the card issuer, but they should help guide your choice.

If you see a pre-approved score it may be subject to you passing additional ID and fraud checks by the provider.

In some cases, we will not be able to display a score for a product because we do not have enough information about the card issuer s acceptance criteria or we have not been able to match your details at the credit bureau.

We work closely with our partners to improve our eligibility scores for all products that are of interest to you.

We’re free and independent, as well as offering exclusive deals you can’t get anywhere else.

Moneysupermarket is a credit broker this means we ll show you products offered by lenders. We never take a fee from customers for this broking service. Instead we are usually paid a fee by the lenders though the size of that payment doesn t affect how we show products to customers.

Featured business credit cards – Sorted by APR

Apply for the cards below today or search all credit cards

You can rely on us

We’re here to help





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Business News – China Economy – Company – China Daily #loans #for #business

#china business

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Over 700 Chinese companies take part in 2016 IFA consumer electronics fair20:59 B20 summit starts in China’s Hangzhou20:33
UK expert: China will share its prosperity with the world19:53 China’s opening drive benefits all countries: Xi18:31
Stronger China-ASEAN cooperation benefits regional growth, peace, prosperity: Indonesian official17:26 China’s reform and opening-up a great process: Xi16:04
Xi’an launches China-Europe freight train service to Hamburg15:09 G20 Hangzhou summit reflects global recognition of China’s economic success: Russian economist15:08

Over 700 Chinese companies take part in 2016 IFA consumer electronics fair

Indonesian president calls on Jack Ma as economic advisor

VR brings thrills, pressure to entertainment industry

Commemorative G20 stamps a hit at media center

Top 10 trends in China’s internet development

Children explore science and technology at museum in Guangdong

Media center of G20 summit in Hangzhou

The mega merger between the top two ride-hailing service providers in China may hit a roadblock as the country’s antitrust watchdog says it is investigating the case.

European businessmen are considering buying stakes in more Chinese private companies and are calling for the necessary market-oriented reforms.

Home buyers will be required to submit fewer documents when withdrawing housing provident funds to buy apartments in Beijing, according to a circular.

The world was surprised by China’s double digit GDP growth since the opening-up in 1970s, but that economic path no longer fits the current situation in China, Wang Yiming, deputy director of the development research center of the State Council, said in an article published in the People’s Daily on Monday.

China’s Belt and Road Initiative offers promising opportunities for Sany Group to expand its global market, said president of Sany, the largest machinery manufacturer by revenue in China.

China’s major manufacturers of self-balancing scooters, also called hoverboards, formed a sector branch on Tuesday under the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, aiming to build group and international standards to reenter the US market.

BYD Co Ltd, a major Chinese new energy vehicle manufacturer, posted a first-half profit increase of 384 percent to 2.26 billion yuan ($342 million) compared to the same period last year, mainly due to the increase in its new energy vehicle business.

Baidu unveiled its latest plans in the burgeoning field of artificial intelligence, including “Baidu Brain”, which simulates the human brain with computer technology, and a partnership with Nvidia Corp to develop driver-less vehicles.





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Car Wash Self-service Business Plan Sample – Company Summary #home #business #ideas #for #women

#car wash business

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Car Wash Self-service Business Plan

Company Summary

Auto Paradise is a dynamic start-up company that will provide exceptional car care services to the members of the San Angelo community. Quality services that exceed expectations will establish Auto Paradise as the premiere car wash service in San Angelo, Texas. It will provide that following products and services to the local community:

  1. Two Laser Automatic “touch-free and spot-free” car wash bays
  2. Four “self-serve” bays
  3. Vacuum and car wash vending services
  4. Reverse osmosis drinking water.

Auto Paradise will establish its first location one lot from the intersection of Avenue N and Byrant Avenue, which are two of the busiest streets in San Angelo. The lot faces Avenue N and will be accessible from two sides. The ATM and RO dispensers will be accessible from a side road and will not interfere with the car wash traffic.

The facility will have two automatic car wash bays, four self-serve bays and an equipment room/office in the middle of the bays. It will also have four high powered vacuum islands (eight total vacuums), vending area, and an ATM/RO water area.

2.1 Company Ownership

Mr. Lewallen will create Auto Paradise as a Texas C corporation based in Tom Green County. Mr. and Mrs. Lewallen will be the majority owners (80%) with principal investors owning the remaining 20%. As of this writing, it has not yet been chartered and Mr. Lewallen is still considering alternatives.

2.2 Start-up Summary

Total projected start-up expenses (including construction, equipment, land, landscaping and related start-up expenses) come to $934,100. The start-up costs are to be financed by direct owner investment and long term financing.

A. Investment Options. Auto Paradise will open approximately 90 days after securing financing. Mr. Lewallen is offering several ways to invest in Auto Paradise:

  1. Company stock: Mr. Lewallen is offering 20% of company stock to investors. Auto Paradise is offering 1% of company stock for $7,500. Capital will help establish the first Auto Paradise location and provide “head start” on the second location. Auto Paradise plans to distribute $2,500 per 1% share each of the first three years.
  2. Secured Investment: Mr. Lewallen is offering a guaranteed 10% return for a three year investment. Mr. Lewallen is willing to secure these investments with personal assets/investments.

B. Financing. The SBA loan that Mr. Lewallen will secure from the SBA is structured to ensure Auto Paradise’s success during the early months of operation. The $740,400 loan includes two elements designed to help build operating capital. First, the loan includes a 10% ($69,000) construction contingency that will convert to operating capital if the construction costs are consistent with the estimate. It also includes 9 months of interim interest which will defer the long-term mortgage payment for 9 months (6 months of operation).

C. Land. Auto Paradise is in the process of securing a lot near (one lot from corner) the intersection of Bryant Ave. and Avenue N, which are two of the busiest streets in San Angelo. The lot will be 165′ along Avenue N and 175′ deep. The purchase is pending the results of a phase I environmental inspection, which is expected to produce favorable results.

D. Construction. Getting a firm construction bid is the next step in the process after securing the initial investors. The architect plans and an actual bid will be the last elements necessary to secure bank financing. The estimates included are from previous projects and are considered generous (on the high-side). The estimated $390,000 includes total construction costs for two automatic and four self-serve bays, parking lot, signage, landscaping and architect fees.

E. Construction Contingency. The 10% construction contingency will cover any unexpected expenses or shortfalls. This may be re-negotiated as a “line of credit” in order to reduce the amount of the loan.

F. Equipment. Washing Equipment of Texas (WET) has provided a detailed estimate for the purchase and installation of the equipment for two automatic bays, four self-serve bays, four vacuum islands (eight vacuums) and a reverse osmosis water dispenser. WET, which is located in San Angelo, will also provide all maintenance and repair services.

The assumptions are shown in the following tables and chart.

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