If you are opening a bar or a restaurant, you will need to get a beer or liquor license. Beer or liquor licenses are required for any business start-up that will serve or sell alcohol. If you do not get the appropriate permits, you are breaking the law and your business establishment can be shut down. You will also be asked to pay a hefty fine. Getting a beer and liquor … [Read more...] about How to get a Beer and Liquor License
5 Basic Facts about Franchising
In the strictest business sense, franchising is defined as the right or license awarded by a company to an individual to market its products or services in exchange for a certain fee. Yes, you get to use a company's name, logo and the profit could be all yours thereafter, but it's not that simple. Think of it as a 'marriage' between the brand's strengths and your own. You … [Read more...] about 5 Basic Facts about Franchising
Can Friends Make Good Business Partners? 7 Ways to Make it Work
It starts with a good idea. Tired of venting about not having enough money, friends decide: 'Let's start a business!' Then the trouble starts. The dynamics of the relationship change, and the complaints emerge. 'She's too bossy!' or 'He's not working hard enough. The blame and fingerpointing starts, and the friendship and the business deteriorate. Despite these horror … [Read more...] about Can Friends Make Good Business Partners? 7 Ways to Make it Work
5 Tips for Negotiating with Difficult Clients
Business start-ups that are still building a client portfolio can rarely afford to drop difficult accounts. Many clients take advantage of this situation and try to bully their way through a project. They may have unreasonable demands or deadlines, or (plain and simple) be pains-in-the-you-know-what. Here are some tips for dealing with difficult clients: negotiating with … [Read more...] about 5 Tips for Negotiating with Difficult Clients
3 Types of Business Structures
You've found a great business idea and, after studying the market and your competition, you've developed what you know will be a popular and profitable product or service. The next and very important step is to create your 'legal personality.' This is your business structure and how you will register it at the proper government agency—the company equivalent of a 'birth … [Read more...] about 3 Types of Business Structures