Small Retailers Should Start Now!
Get a jump on holiday promotions by planning in advance
How often have you realized--too late--that you could have seized a marketing opportunity? Running a small business often dictates that you focus on the hour, the day, the week, or the month at hand. It can be tough to plan ahead for non-essential business activity.
For small consumer businesses and retailers, something that should be essential is Small Business Saturday, this year on November 29. In response to the highly marketed "black Friday" that generates millions in sales for large retailers, Small Business Saturday gives local retailers, ...Read More
According to data published by the Wall Street Journal last week, the franchise Cold Stone Creamery defaulted on 29% of working capital loans backed by the government, impacting taxpayers by millions. Quiznos' default rate was 30%, while the company filed for bankruptcy in March. Yet both brands remain eligible for SBA-backed loans. Why?
"The SBA continued to guarantee loans to high-risk franchises and industries without monitoring risks." This from the SBAs inspector general. If it weren't for the government's backing, banks would never have made those loans.
Result is 26 SBA-backed loans since 2012 for $2.3 million for Cold Stone Creamery ...Read More
Lately there's been lots of chatter about The Olive Garden's new look. Facing declining sales, the restaurant chain underwent a cosmetic change via their logo, bringing a bit of sophistication to the old-world traditional look that has been Olive Garden's identity since 1982. Darden Restaurants is calling the changes a "brand renaissance;" while they updated their logo, they've also launched menu updates, interior renovations and online ordering options. But the question is, is the new logo enough to entice drive-bys to become walk-ins?
Logo redesign can be risky. You invest capital in a redesign while walking away from the brand ...Read More
You're on the verge of really good growth, but you need more cash. If you hire three more people, you'll hit all of your production goals. There's a golden opportunity right in front of you, but you need to capitalize now. When you sense your business is about to take a leap forward, but you need capital to make it happen, quickly, you are in a good spot to consider a merchant cash advance.
In exchange for money now, you are giving future earnings to a lender with each swipe of a customer's credit card, but you're paying your debt ...Read More
School-age kids aren't the only ones who return to the classroom in the fall. When you stop learning, you take yourself out of the running for success. Expert advice and common sense alike indicate that whether you're an independent financial planner or a start-up coffee shop, a design firm or budding art gallery, arming yourself with knowledge will only open doors.
Dividing your energy between business operations, entrepreneurial day-to-day tasks, managing a quick bite for lunch and scraping out a healthy bottom line can keep any new business owner running. Is it worth adding education and training on top of ...Read More