One of the most important areas a potential franchisee will look when researching a franchise opportunity is the franchise training program.  Most franchises don’t require or prefer that potential franchisees don’t have experience in the field; therefore a good training program should cover not only the product or service but also setting up the business, marketing,employee management, business procedures, reporting, etc.

Franchise training program should include:

• Everything potential franchises need to know about the product or service
• Everything about using/protecting the brand
• How to find a new business location
• How to negotiate a lease
• How you complete the permits and buildout
• How to find, hire, and manage employees
• How to market your product or service
• How to keep books and records for the business
• The reporting requirements and processes
• Where to get the equipment needed for the business
• How or where to buy supplies and inventory
• How to get help when they have a problem

The best way a potential franchisee will find out about the scope of the training program is to ask existing franchisees.  They will ask the existing franchisee what stood out about the training they received and what they feel could have been covered more completely.  They will also ask how prepared the current franchisee felt when they opened their business and what ongoing training they have been provided.  Many times a training program that was find in a company’s early days is now out-of-date.  Be sure current franchisees are aware of and understand the type of training new franchisees will receive therefor an accurate assessment of its value is made.

Reevaluate your training program today and be sure everything is updated!

What a difference has the last decade in the way business is conducted around the world.  I am referring as the title suggests to how ubiquitous the internet has become and how central it has become to our existence.  Certainly, every teenage and even pre-teens learn ways to use the internet from Facebook to Twitter to Xbox to Ipod.

Just as in personal living the internet has contributed to a virtually unlimited ways to monitor, manage, and handle your business affairs.  Not just in operating your business, but when it comes to selling your business the internet offers countless ways to streamline and guide your process to more efficient way to prepare and even consummate the transaction.

Click here to continue reading.

As we approach this holiday season, at the end of a rather challenging year in terms of our businesses, we are starting to see glimmers of sunshine across the board in the economy.  This is a much welcome sign, as we gather around with our families to celebrate the holidays.

We can reflect on the past year with a sense of hope, however faint the ray of hope maybe for brighter futures ahead.  In fact, it is a blessing in disguise in many respects.  Everyone has a renewed focus on family, friends, and the relations we cherish so dearly.  After we exchange our gifts this holiday season, while we sit around the family fireplace, drinking a cup of hot chocolate or eggnog, we will learn to relate more with the people near and dear to us.

We at BuyTradeBiz.com are happy to have you as customers and wish everyone of you a joyous and festive holiday season!

BuyTradeBiz.com would like to congratulate Mike Richards from Sunbelt Business Brokers in Tampa, FL for being the winner of the BuyTradeBiz.com launch promotional offer and the winner of the 42 inch LCD TV!

BuyTradeBiz.com would like to thank all Business Brokers for helping launch our website and we look forward to a successful partnership with all of you. Be sure to look for the upcoming Spring 2010 promotion!

In 2007, before the recession started, Congress signed a legislation that increased the minimum wage to $5.85, followed by another increase in 2008 to $6.55, and now the final hike to $7.25. Secretary of Labor Hilda Solis says, “Between 3 million and 5 million people will be affected by the minimum wage rise from $6.55 per hour to $7.25 per hour”

If you are a small business owner, how does this affect you during this recession? According to “Robert Mayfield, who owns five Dairy Queen restaurants in central Texas, ‘don’t expect any increased spending to offset the added salary expenses.’”

To check exactly how much the minimum wage increased in your state, click here.