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Overcome Recession Woes In The New Year With A Work From Home Business Franchise
Written by: Candice ClemArticle Overview: The recession that hit hard in the latter half of 2008 is far from over. Although the forecast for 2009 looks a bit better than the end of last year, we're not out of the woods yet, so here are some times to make the most of your home business and how to best survive the ongoing recession.
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Overcome Recession Woes In The New Year With A Work From Home Business Franchise
With the recession in full swing, many businesses are now beginning to show whether they have what it takes to operate long term in the midst of a recession. While some businesses will try to simply survive until the economy turns around, the businesses worth investing in and getting behind right now are the ones that can not only keep their head above water during recession, but the ones that can actually profit when the economy isn’t great. With the lowest overhead of nearly any type of business, work from home business franchises can be one of the most profitable and lowest risk businesses right now. With no office space to lease or storerooms to keep stocked, home based businesses put you at the helm of your own businesses for a low initial startup cost and operating costs that continue to stay low for the life of the business. If you’ve been thinking about a work at home business but have been waiting for the right time, make it your new year’s resolution to start a home based business franchise, and take a look at some of the best choices currently available.
The internet has certainly transformed the way we live. Whether doing research, communicating with friends and loved ones or ordering everything from pizza to Pilates machines, for many of us it’s difficult to imagine going back to life before the internet. Business, however, may be more affected by the advent of the internet that just about anything else, causing businesses to not only start to use the internet for sales and to attract new clients, but also causing entire industries to spark up to facilitate business and advertising on the web. While internet businesses are not unaffected by the recession, the interesting thing is to see how websites like Amazon.com reported their best Christmas sales of all time this year and many other internet companies were able to achieve record numbers despite a less than stellar retail season. What does all this mean? While no one can be sure if this is due to more people putting their faith and their wallets in web retailers or simply that retail is directly tied to recession and internet sales may not follow suit as easily, it’s safe to say that an internet based business is probably a better choice than a retail "brick and mortar" business is right now.
WSI Internet is one of the most popular and profitable internet home based business opportunities. With countless awards including the #1 internet and technology franchise in the world, WSI Internet has built a massively successful model that is scalable and flexible for just about any situation. Franchisees do much of the sales and client relations and serve as the frontend of the business, while the staff at WSI Internet headquarters handles all of the technical work so that literally anyone with a desire to run their own small business, regardless of background and training, can successfully own and operate a WSI Internet franchise. TVME Inc., another internet home based business, also relies on franchisees to meet clients, make sales and keep clients happy and taken care of well after the sales are final. TVME Inc. sells a unique product that provides nearly half a million music tracks and music videos designed to be deployed in public settings like restaurants, bars or bowling alleys. The beauty of this system, as a franchisee, is that you make a considerable profit from each media server that you sell, but you also continue to make a monthly profit from each customer. The devices that you will sell don’t come with any media, they connect to the internet and then provide access to TVME Inc.’s massive library. With the commission from the sales of the devices and the ongoing service fee’s, TVME Inc. estimates that in the right market and with a motivated franchisee, one could easily reach six figures a year and potentially reach 7.
Vending machines are another great industry during recession. Statistically, the industries that most often profit during recession are entertainment, alcohol and cheap food and snacks. While we probably won’t see a vending machine liquor store for a while, there are plenty of entertainment and food/snack based vending machines available today that utilize new technology and proven market research. DVDNow is quickly becoming increasingly popular in the US. You may have seen their sleek red and grey DVD rental kiosks as the local mall or grocery store and been curious or even rented a movie or two. The concept is simple; provide convenient access to the most popular movies as a reasonable price. With brick and mortar video stores being crushed by online rentals and mail-based services, DVDNow has slipped into a great niche-market where many people still enjoy the spontaneity of picking up a movie on the way home from work (rather than having to wait a few days for the mail) and yet many people also still prefer a physical disc rather than trying to figure out how to watch the movie downloads through their computers. This concept has really taken off in Europe, and while it’s gaining in popularity in the states, there is still plenty of room to get in on the ground floor. Another vending business that has shown no real sign of slowdown during the recession is Rocket Vending. They put a new spin on an old business; selling candy through vending machines that are labeled with "Support Our Troops" or "Breast Cancer Awareness". Many franchisees are seeing a boom in sales because people, when given the choice, will almost always choose to purchase from the machines that promise to give a percentage of the profits to breast cancer research or to the National Military Family Association. The product that Rocket Vending sells and machines used to sell it aren’t exactly breaking new ground, but the philanthropic aspect of the business not only makes more money for the franchisee, but allows everyone from the franchisee to the customer to the franchisor to give a little something back to help others.
With 2009 in full swing, anyone looking to start their own business needs to consider the current economic climate while we’re all optimistic that the economy will turn around, business owners need to prepare for and anticipate the worst. A home based business provides some of the best insulation from economic shifts due to it’s low overhead and due to the recession-resistant industries dominated by home based business. This may not be the time for everyone, but if you have thought about starting a new business, make 2009 the year that you start an internet home based business that will not only survive recession, but flourish.
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Try wikipedia.com for more information
- That depends what type of business you are involved in. Maybe if you share that, we can help you a little better.
I work mostly in the Work at Home industry so my advice would only be along those lines.
Books for Women Entrepreneurs
- There's a thread for good books in the Resources folder, but it doesn't target books for businesswomen particularly, so I figured I'd start such a thread here.
It doesn't matter how successful you are in your business - it's always possible to learn something new.
In subsequent posts I give Table of Contents and brief descriptions for various titles - most of them devoted to the businesswoman - and sometimes a review. If anyone else has read a review, or has read the book and found it useful, please comment!
1. The Old Girl's Network
2. Mother's Work
3. The 7 Greatest Truths About Successful Women
4. Pitch Like A Girl
5. Workplace Warrior
6. Treasure Hunt: Inside the Mind of the Modern Consumer
7. Contingency Planning & Disaster Recovery
8. She Wins, You Win
9. Napoleon On Project Management
10. Why Good Girls Dont' Get Ahead, But Gutsy Girls Do
11. Comeback Moms: How to Leave Work, Raise Children, and Restart your Career even If you Haven't Had a Job in Years
12. The One Minute Millionaire
13. Talking From 9 to 5
14. Soloing: Realizing Your Life's Ambitions
15. 101 Best Home Based Businesses for Women: Everything You Need to Know About Getting Started on the Road To Success
16. Work With Passion: How to Do What You Love for a Living. Revised and Expanded
17. Fail-Proof Your Business: Beat the Odds and be Successful
18. Confidence: How Winning Streaks and Losing Streaks Begin and End
19. Women Don't Ask: Negotiation and the Gender Divide
20. Millionaire Women Next Door: The Many Journeys of Successful American Businesswomen
21. Start Small, Finish Big: Fifteen Key Lessons to Start - and Run - Your Own Successful Business
22. Rewired, Rehired or Retired: A Global Guide for the Experienced Worker
23. The Martha Rules: 10 essentials for achieving success as you start, build or manage a business
24. The Essentials of Entrepreneurship: What it takes to create Successful Enterprises
25. Net Ready: Strategies for Success in the E-conomy
26. The Promotable Woman
27. Leave The Office Earlier: The Productivity Pro shows you how to do more in less time and feel great about it
28. The Work At Home Balancing Act: The professional resource guide for managing yourself, your work, and your family at home
29. Secrets of Six-Figure Women
How to valuate a business
- Hi Garth - here is how we did it at Northern Crown Capital when I was helping them raise venture capital for Toronto-based entrepreneurs. Assume the start date is 2003 so 2008 projections are 5 years out:
How Northern Crown Capital Valuates a Business
2008 Financial Projections
Earnings Before Tax
$5,865,000
Tax Rate
42%
Taxes
$2,463,300
Net Earnings
$3,401,700
Amount Seeking to Raise Today
$3,500,000
Discounted Value of Future Opportunity, 5 Years Out
2008 P/E Ratio
15
Value of Company in 2008
$51,025,500
Discount Rate Applied
30%
Year 2008
$51,025,500
Year 2007
$35,717,850
Year 2006
$25,002,495
Year 2005
$17,501,747
Year 2004
$12,251,223
Value of Company at Investment in 2003
$12,251,223
Less: Investment Amount
$3,500,000
Present Value
$8,751,223
Discount for Risk & Private Company
40%
Less: Discount for Risk & Private Company
$3,500,489
Private Company Value
$5,250,734
Present Value (What the Owner Keeps)
$5,250,734
60.00%
Financing (What the Investor Gets)
$3,500,000
40.00%
Total
$8,750,734
100.00%
I hope this helps!
Re: Enticing Franchises - Top 9 List
- All Franchise listed above are in millions of dollars. Do you have the list of Franchise in thousands
Re: Info for would be franchisers...
- [quote="Sebastien":1d29sdv1]Like Franchise Times, Franchise Update is a very practical magazine. There is no blah blah, just straight facts that anyone in the franchise community can relate to. I just want to mention that all these magazines are NOT franchisee oriented. I mean these magazines are for franchise professionals. If you're looking to buy a franchise, you won't find much information in there.
To answer your question, getting published in Franchise Times was fairly easy. I don't want to brag too much but I think I am known in the franchise industry. I was the marketing guy at Franchise.com for a few years before joining my new company, the World Franchising Network. So people know me and I have a very good relationship with Nancy Weingartner, the Managing Editor at Franchise Times. I was talking with her at the last Franchise Expo South in Miami and she mentioned she'd like me to be profiled. I was like "ok, sure!". I like this franchise executive profile thing in Franchise Times as it is rarely BS. People are usually really natural in there.[/quote:1d29sdv1]
Thanks for the follow up Sebastien! And I can't say that I'm surprised that networking with the right people and managing your relationships with them properly are the keys to being published.
I guess the old adage holds true of "it's not who you know, but who knows you" that's important.
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