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The Franchise Cost Can And Will Determine The Duration Of Your Time In Business There are several key factors when looking at the initial franchise cost of any business. Determining your investment will be based on your specific goals with that particular business model. Knowing the amount of marketing costs, initial business setup (materials, equipment, inventory, staff, insurance, etc.), your competition whether local or virtual, and most importantly the ROI (return on investment). An initial franchise cost can set a new business owner for a fast return on their investment or a possible positive return on investment that can be delayed for years to come. Unfortunately, the current economic situation that not only this country is struggling through but every other country in the world as well, also has a determining factor in a duration and profit margin of any young franchise. But there are some industries in which their initial franchise cost is still considered to be in the profita...

Most culinary schools today are still teaching their students how to compute the wrong food cost. Granted the math is right, but the dollars involved are hurting the bottom line of our restaurants. The problem arises from the separation of percentage points and dollars. Banks Use Dollars, not Percentage Points One thing I am quite sure of is that banks do not accept percentage points as deposits, believe me I’ve tried! For some reason the teller just looked at me dumbfounded then just started chuckling. Matter of fact she had so much fun with it she showed the teller next to her who responded in much the same manor. I didn’t find the humor in it since I had bills to pay, product to buy, and employees wanting their cash too. To rectify the situation I cowered to the pressure and made out a revised deposit slip using their required dollar standard. So if you can’t deposit percentage points why do most restaurants use this as their key focus goal? Shouldn’t the esta...

Business strategies are often concentrated in one specific direction rather than involving multiple goals. While this tight focus might enable a process that is easier to monitor and facilitate, there can be distinct disadvantages as well. This article will discuss one example that illustrates how combined strategies involving business training and technical business writing can be more cost effective for small businesses than addressing each in isolation. Cost effectiveness is a useful tool to serve as a “management umpire” in most situations involving choices and decisions such as those described here. While this might periodically require a small business owner to obtain help from a cost effectiveness expert, the prudent use of this specialized decision-making tool always deserves serious consideration. For those unfamiliar with the benefits of cost effective solutions, here is a short summary: In simplest terms, the process forces a comparison of costs (which includes bo...