tag:blogger.com,1999:blog-53672289371737226312023-06-20T22:02:54.389-07:00Adrienpezennec Business Blognatkla mantkavahttp://www.blogger.com/profile/10809804367749638667noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5367228937173722631.post-86495687830611162382017-09-26T15:16:00.001-07:002017-09-26T15:16:11.573-07:00AUKEY Cable Review<img height="300" src="https://i1.wp.com/www.deteched.com/wp-content/uploads/2017/05/20170516_194541.jpg?fit=1595%2C1196" width="400" /><br /><br />More and more of the newest flagship Android cell phones are utilizing <b><a href="http://aukeypowerbank.com/aukey-cable/">AUKEY Cable</a></b> standard. And now the accessory manufacturers are now starting to catchup and making 3rd party adapters that now can quickly charge our phones. We all have a few spare charges...one for the house, one for the office, and one for traveling.<br /><br />Aukey just released their Qualcomm 2.0 compatible quick charger. It is a super solid device. Well made, and aesthetically pleasing. It comes packed with the following specs: Qualcomm® Quick Charge 2.0 Technology. 5V/2.1A, 9V/1.8A, 12V/1.35A<br /><br />UL Certified. This charger easily charged my device in about an hour from 1/4 power.<br /><br />You *NEED* to make sure you are using a quality USB calbe with this!!! I used a "thin" USB cable, and I could not get my Note4 to register that it was charging with an "Adaptive Charging Device". When I switch to one<br /><br />I used one of the Aukey supplied 3.9ft MicroUSB cable with the Quick Charger, and my phone loved it! The adaptive charging kicked in, and juiced right up.<br /><br />Aukey sent me one of their 3 pack of Micro USB charging/sync cables. and I love them. You seriously can never have too many USB cables... and I right? These are really well made, and come with an 18 month warranty. So you can't lose.<br /><br />Specs on these cables are: 480-Mbps transmission speed, error-free data transmission, and fast charging speed.<br /><br />All Android phones are quickly making the switch to the fully reversible USB C standard. Not only is USB C reversible, but it can transfer data faster and more power than its predecessor, micro USB. Having manufacturers switch to USB C is a great thing, however you’re stuck replacing all of those cables. At your office, in your car or spares in your home, you simply need more cables.<br /><br />Early in the development of USB C you saw quite a few faulty accessories that lead to damaged laptops and smartphones. Third-party manufacturers rushed to release charging cables, plugs and portable batteries in hopes of grabbing market share. While there are very few faulty cables, there’s some brands that are just worth sticking with. One of those brands is Aukey. It has been making accessories for several years, and is a major presence on Amazon.com. Wireless headphones and speakers, chargers, batteries, cables, cameras, mounts and other accessories from Aukey all come with high user review ratings. It’s a brand many savvy shoppers choose to go with instead of paying double or triple from OEM manufacturers. It’s also a brand I turn to for my use as well.natkla mantkavahttp://www.blogger.com/profile/10809804367749638667noreply@blogger.com0tag:blogger.com,1999:blog-5367228937173722631.post-17535965106929907672017-04-17T06:44:00.001-07:002017-04-17T06:44:43.386-07:00How to Choose the Best Structure for Your Franchise Company<div class="separator" style="clear: both; text-align: center;">
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<br /><br />When creating your franchise plan, one of the first things you'll need to do will be to choose one or more structures under which you'll offer franchises. The choice of franchise structure will impact a number of variables that will further define your franchise organization—targeted franchisee, support requirements, staffing, and cost structure -- so you shouldn't enter into it without some forethought and financial modeling.<br /><br />Understand that when it comes to franchise structure, there's no standard naming convention. For instance, what we call an “area representative” structure is referred to in some organizations as an “area developer” strategy and in others as “master franchising.” Here's our shorthand definitions for quick reference:<br /><br />Single-unit or individual franchising involves granting a single franchise to a franchisee for just one business operation. While the franchisor may choose to award more than one franchise to some of its franchisees, they're typically sold individually and not as part of a multi-unit territorial grant. Perhaps the most prominent example of a company that grew primarily through single-unit franchising is McDonald’s.<a name='more'></a><br /><br />Conversion franchising is a variation of single-unit franchising that involves granting a franchise to an operator who's already running a similar business. Conversion franchises are generally sold with preferential terms, often involving reduced fees, based on the fact that the franchisee has an established business and clientele and/or requires less training and/or support. Many of the largest real estate franchisors, including Century 21 and RE/MAX, initially had a strong emphasis on conversion franchising.<br /><br />Area development franchising involves the sale of development rights to a territory in which the area developer is given the exclusive right to open and operate a (usually) pre-established number of individual franchises on a (generally) pre-defined opening schedule. While all area developers sign contracts that would make them multi-unit operators, not all multi-unit operators are area developers—some may instead be individual franchisees who acquired additional units without the benefit of an area development contract. Many large franchisors in the food-service arena (like Burger King, Pizza Hut, and KFC) have relied heavily on area development franchising, and some, like Panera Bread, McAlister’s Deli, and Buffalo Wild Wings, now focus exclusively on area developers.<br /><br />Subfranchising (also called master franchising) involves a grant of the right to sell individual franchises in a specified territory along with the obligation to provide some level of support and service to those individual franchises in return for a shared-fee arrangement with the franchisor. In a subfranchise relationship, the master franchisee enters into contracts directly with franchisees. Subfranchising is often reserved for international markets (where it is also referred to as master licensing, just to make things more confusing), where many of the most prominent franchisors use it regardless of their domestic structure -- at least in some markets.<br /><br />Area representative franchising is a variation of the subfranchise arrangement. While the roles of each party are largely identical, in an area representative relationship, the franchisor (not the master franchisee) enters into the franchise agreement with the individual franchisee, allowing them a greater degree of contractual control. Area representative franchising has been used successfully by fast-growing franchisors such as Subway, Quiznos, Jani-King, The UPS Store, and Massage Envy.<br /><br />For most new franchisors, individual franchising is the safest bet. Individual franchises are generally easier to sell and can often be the best way to gain an understanding of the support you'll need to provide your franchisees to help ensure their success. Individual franchising offers the greatest control over your franchise operations, as well as which franchisees you'll allow to open additional franchises, as you can predicate it on their performance with their existing location(s).<br /><br />If you're currently operating in a highly fragmented market, conversion franchising may be worth considering -- especially if you can demonstrate true incremental value to your franchise candidate (remember, you will be asking someone who is already operating in your industry to pay you an additional fee). In conversion franchising, prospects are usually easily identified, reducing marketing costs substantially. Prospects generally have established business relationships and thus begin paying their royalties sooner. Conversion franchisees may require less training and initial support than startup franchisees and are also easier to qualify because you can evaluate their existing operations.<br /><br />However, conversion franchising presents a number of challenges. As entrepreneurs, these franchisees can be more resistant to the controls imposed by the franchise system. Typically, the best operators (those you would most like to convert) are the least likely to see the value of your offering, while the worst operators (who are likely struggling for a reason, and thus should probably be avoided) will be your most eager candidates. Moreover, if a particular conversion franchisee doesn't work out, the post-termination, noncompetition agreements that might otherwise come into play will be much more difficult to enforce (if they can be enforced at all).<br /><br />Area development franchising continues to be the favored method of expansion of many brick-and-mortar businesses. As a franchisor, you work with a limited number of more sophisticated franchisees, allowing you to allocate less time and fewer resources to unit inspection and franchisee support. Area development contracts can also minimize territorial disputes. And, of course, each sale of an area development contract will, at least in theory, result in multiple store openings.<br /><br />But like other strategies, area development has its disadvantages. As a franchisor, you'll need to recruit franchisees from a much smaller pool of candidates, as area developers must be better capitalized than individual franchisees. And if you look to area developers of other brands, you'll find that the competition for these prospects is intense.<br /><br />If one of the reasons you're turning to franchising is that you feel your business will perform better with an owner-operator, area development franchising may not be the best route, as these area developers will be hiring managers of their own. Likewise, if your business doesn't provide the incremental returns that will allow the area developer to create the infrastructure to manage multiple units, this strategy probably isn't appropriate.<br /><br />It's also worth noting that a substantial percentage of area development contracts go unfulfilled—by some estimates, more than 50 percent—not to mention those contracts that don't get fulfilled according to the agreed-upon development schedule. And if the contract isn't fulfilled, the franchisor often needs to get lawyers involved to regain the rights to sell franchises in that territory.<br /><br />Subfranchising and area representative franchising are both known for helping franchisors accelerate their growth. But while subfranchising and area representative franchising provide the fastest growth, they also have some of the most substantial disadvantages. First and foremost is that the area representative is entitled to a portion of the franchise fee and the royalty on an ongoing basis. And while they'll be providing services in return for these fees, they'll also be entitled to a return on their investment -- thereby decreasing franchisor profitability as a percentage of revenues.<br /><br />Without question, area representative franchising is the most complex form of franchising in the U.S. Not only does the franchisor need to establish support structures for individual franchise operators, but it must also develop detailed operations standards and training programs for its area representatives. For that reason, we rarely recommend this structure for a new franchisor, particularly if the franchisor’s management team doesn't have a strong background in franchising.<br /><br />In deciding which structure (or structures) to employ, you should take a number of factors into account:<div>
<br /><i>What speed of growth is required to meet your goals?<br />What is your return at the unit level?<br />How much support can you provide to your franchisees?<br />Does your business lend itself to passive ownership?<br />Are you able to cluster units effectively?<br />How fragmented is the competitive market?<br />What is the degree of competition for your targeted franchisee?<br />What is your value position for your targeted franchisee?</i><br /><br />Ultimately, you want to choose a strategy in which you can support your franchise owners effectively and at a reasonable cost. The best strategies will achieve this goal while ensuring that quality remains high, the risk of litigation is minimized, and the chances of franchisee success are optimized.</div>
natkla mantkavahttp://www.blogger.com/profile/10809804367749638667noreply@blogger.com0tag:blogger.com,1999:blog-5367228937173722631.post-16646484705441060012017-04-12T06:42:00.000-07:002017-04-17T06:44:53.917-07:005 Business Lessons I Learned From Being a Member of a Motorcycle Gang<div class="separator" style="clear: both; text-align: center;">
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When I was 10 years old, all of my friends wanted to play for the New York Yankees. Not me. I wanted to be a Hells Angel.<br />
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At the age of 19, I found myself involved in one of the most notorious outlaw motorcycles gangs in New York City. In retrospect, it was simultaneously one of the best and worst decisions of my life. While being involved in the gang, I didn’t realize I was learning valuable lessons that I’d be able to apply years later in my businesses. It’s safe to say that if I didn’t go though that phase in my life, I wouldn’t have the business instinct that I have today.<br />
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Lets face it, when there is a group of people involved in any function, there is always a level of business tasks involved. Your bowling league is a business, your place of worship is a business, your family is a business -- and yes, an outlaw motorcycle gang is a business. Every entity needs some money to survive, so a means to raise capital and use it wisely is necessary. Money is part of the success and longevity of any organization. Using it wisely will keep its staff, board of directors, members or…your spouse happy.<br />
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At the time, I thought the functions of the gang were unique to gangs, but I realized that many of the principles and philosophies are applicable to any business. I got out of the gang and lived to tell about it, and below are five lessons that I learned. Five of the primary principles in a gang that apply to any good business are branding, recruiting, Attitude, growth and strategy. I like to use the acronym BRAGS.<br />
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1. Branding</h2>
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First off, for any gang, like any business, the name and the logo are paramount. The name needs to communicate the mission clearly. Sons of Anarchy, as an example, was the gang’s name used for the hit TV show, no longer on the air, of the same name. It says who they were. A company’s logo, or “the colors” for a gang, is a type of branding. The colors mean so much and are so important to a gang member, they will go to extreme measures to protect it.<br />
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2. Recruiting</h2>
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The second most important step in building a strong business is hiring the best staff. For a motorcycle gang to survive, it has to recruit people with the “right stuff.” Being accepted into a gang is a very rigorous process. Hiring your staff should be a thorough process, too. Being a gang member or an employee of a company comes with responsibility -- and there is no room for weak links.<br />
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3. Attitude</h2>
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People often ask me what makes a business successful. What I have found is that success is directly related to attitude. If a business owner has either a good or bad attitude toward anything in his or her life, it will show up their business.<br />
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However, attitude in an outlaw motorcycle gang is entirely different. A gang member has an image to up hold every time he rides his bike. To be taken seriously, he has to give up haircuts and laundry detergent. When he pulls up on that Harley, preceded by the loud thump, thump, thump of the V-twin engine, people anticipate a nefarious attitude. A biker has to replace his smile with a sneer. Of course in business, it’s the exact opposite.<br />
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4. Growth</h2>
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As the old tenet proclaims, if the business is not growing -- it’s dying. A motorcycle club is always recruiting new members to grow the club. To get really big and have market dominance, gangs merge and sometimes acquire other gangs. Sometimes the takeovers go smoothly and all parties agree, but sometimes, there is a hostile takeover. Of course in a corporation, people are laid off -- not laid out!<br />
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5. Strategy</h2>
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A great business plan or strategy is important in growing any business. There should be a mission statement in place and bylaws to govern the behavior of staff members. Believe it or not, many outlaw motorcycle gangs have written bylaws that the members must adhere to.<br />
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For instance, most outlaw gangs require members to ride only Harley-Davidson motorcycles. In the gang I was involved with, one of the chief rules was not to partake in any drugs. The thought was, if you get into a scuffle, how can you rely on your brother if he is strung out on a substance. In addition, gangs even have a sort of dress code that really amounts to a uniform: steel-toed boots (cowboy boots are ok), wallet with a silver chain dangling, leather jacket with innumerable zippers, dark sunglasses and a tee shirt with a "provocative proverb" such as "Real Men Wear Black."<br />
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Over time, I learned that the uniform wasn't very practical during the summer months. But it was the uniform, nevertheless -- it had to be worn. If you want to send a message of professionalism to your customers, make sure your staff dresses the part.<br />
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It probably does not occur to business owners that they can run their business by many of the principals of a motorcycle gang. I’m not suggesting that you should go out and buy your staff boots, dark sunglasses and a leather jacket, but imagine if you were to use the BRAGS principle to build a brand so strong that your staff would be willing to have the company’s logo tattooed into their skin!natkla mantkavahttp://www.blogger.com/profile/10809804367749638667noreply@blogger.com0tag:blogger.com,1999:blog-5367228937173722631.post-45895268978446775012017-04-06T06:39:00.000-07:002017-04-17T06:45:02.466-07:00What's the Best Way to Legally Structure Multiple Businesses?<div class="separator" style="clear: both; text-align: center;">
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Most entrepreneurs I know are driven, curious and never content with the status quo. These traits are probably why so many of them dabble in multiple ventures. A restaurateur may open a wine shop; a personal trainer may launch a line of fitness apparel. There’s always a new opportunity out there somewhere, and diversifying your income can be a sound strategy. <br />
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If you are running multiple businesses or thinking about starting a second one, you may be wondering what is the best approach for legally structuring each business: should you have separate corporations/LLCs for each one or a big umbrella company to hold them all? Are there any limits to the number of companies one person can form? <br />
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Generally speaking, there are three different ways to structure multiple businesses. There are advantages and disadvantages for each approach -- and the best structure will depend on your personal situation. Here’s some general advice to consider, and you can always discuss your specific needs and details with a CPA or attorney. <br />
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1. Create individual corporations/LLCs.</h2>
First, there’s no limit to how many corporations or LLCs one person can form. Many entrepreneurs opt to file a new LLC or corporation for each of their start-up ventures. For example, you can form an LLC for your landscaping business and another LLC for the golf course you purchased. <br />
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The main advantage of this approach is that it isolates the risk to each individual business. Should a client sue your landscaping business, your golf course business will be protected. Likewise, if your golf course has a few down years, your landscaping business won’t have to share in any of the liability. <br />
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The main downside with this approach is that it involves additional maintenance fees and paperwork. For example, you’ll need to pay to incorporate/form an LLC for each business, as well as any annual maintenance fees/forms to the state. You’ll also need to get separate business licenses and EINs for each business, and file tax forms for each corporation. For some entrepreneurs, all this separate paperwork can be a pain. But for others, the added fees are well worth it in order to protect each individual business from the others. <br />
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In particular, real estate investors often form an LLC for each property in order to shield each investment. If “Property A” is sued, you won’t be risking any of the assets belonging to “Property B” or “Property C.” <br />
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2. Put DBAs under one corporation/LLC.</h2>
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Another common option is to file one LLC or corporation, and then set up multiple DBAs (Doing Business As) for each of the other ventures. Keeping with the previous example, you may have an LLC for “Ken’s Landscaping Services.” Then, if you start a golfing business, the LLC can file a DBA for “Ken’s Golf Course.” From a marketing perspective, you can run each business as if they are separate companies -- use each individual business name, accept checks written to each business name, etc. <br />
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With this approach, each business venture can use the right branding and company name, while you simplify some of the annual maintenance. You just need to pay your annual LLC/corporation maintenance fees for the LLC/corporation (and not each individual DBA). If you need and/or use an EIN, you’ll just need one EIN. And when it’s time to file your taxes, you can take the income earned from each DBA and report them in a single tax filing under the main LLC or corporation.<br />
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Each business venture (DBA) enjoys the legal protection of the main LLC/Corporation. For example, if something should happen to one of your DBAs, your personal assets will be shielded (assuming you filed the DBA under your LLC/Corporation). But, each DBA isn’t protected from the other DBAs. So if one DBA is sued, all the other DBAs under the main LLC/corporation are liable. <br />
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3. Create a business under the holding company.</h2>
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In the third approach, you can create individual corporations/LLCs for each of your businesses and put them under one main holding corporation/LLC. <br />
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This scenario is common in a few situations. One, for companies that are looking to be acquired or potentially spin off one of their businesses. Two, for established companies that are looking to start a new business (and the established company will fund the new venture). As expected, this scenario can have complex tax and legal implications -- and it’s best to consult with a tax adviser or attorney on the best way to structure a holding company and subsidiaries. <br />
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The bottom line is there’s no (legal) limit to how many business ventures you can start and run. Just make sure that you properly account for your liability risks when structuring these ventures. natkla mantkavahttp://www.blogger.com/profile/10809804367749638667noreply@blogger.com0