Daily Archives: February 19, 2019

Franchise broker working

Franchise Brokers: An Important Aspect of Investing

Franchise broker working

At one point in a person’s life, one would dream of becoming their own boss and have their own business. However, not everyone grabs that opportunity when it comes by, while others slowly ease into entrepreneurial waters through secure means, like a franchise.

In fact, there are plenty of budding businesspeople who are interested in getting a franchise, and for good reason. Franchises comes with a tried-and-tested business model, as well as technical support. The rise of franchises’ popularity has led to the rise of franchise brokers, as well as people who’d like to become a franchise broker.

But, are such services really essential? Isn’t looking for a franchise as easy as browsing through a catalog or scrolling through product categories on an e-commerce site? Unfortunately, it is not. Read on and see how a franchise broker can help you channel your investment into lucrative ventures and form wise and practical decisions, especially if this is your first time investing.

They Act as Lead Generators

Brokers are generally sought after because of the wide array of information and connections that they have. They can get you proper leads that go beyond online listings and ads. The more options you have, the easier it would be for you to find the right franchise to invest in.

They Serve as Filters

Not only do they serve as lead generators, but they also serve as filters. A good franchise broker would be familiar with your needs as a franchisee/franchisor and provide relevant information that can help you make decisions.

Listings that exceed your budget, aren’t in your ideal location, or doesn’t have your preferred business structure will automatically be filtered, and remaining options will be ranked according to your priorities and preferences.

They Provide Free Guidance

In some cases, it would cost you nothing to seek help from franchise brokers. If you’re a franchisee, chances are the franchisors themselves hire their services to help them expand their business.

Thus, if you find a good and honest franchisor who has your best interest at heart, then you are in for a good learning experience. A good franchise broker serves as a bridge between the franchisor and franchisee while, at the same time, serves as a guide to the franchisee. Therefore, navigating through the business won’t be as overwhelming.

They Help You Save Money

Franchise broker with clients

Good guidance and advice can lead you to make a more informed decision, and this leads to bigger savings.

As a franchisee, finding the right franchise means you won’t lose money over unproductive ventures. For a franchisor, finding the right franchisee means there’s a lower chance of losing money over transactions that fall through. Therefore, even though it might cost you something initially, hiring a franchise broker will be a great help to your business.

Planning to skip such great service? Don’t. It might look like an unnecessary expense at present, but once your franchise grows, you will realize that it was well-worth it.

Businessman computing his taxes

The IRS Provides You with a Way to Avoid Taxes

Businessman computing his taxesMany people are unaware that the IRS encourages people to find legal ways to evade paying a fortune in taxes. You’re more likely to your taxes if you have the assurance that the total figure will be affordable.

There’s no love lost between taxpayers and their tax obligations. Parting with hard-earned dollars each month leaves a bad taste in the mouths of many people. That comes in the backdrop of misplaced priorities in government spending and wastage. Such occurrences often drive many people to loathe paying taxes even more.

Recognizing the strong aversion towards paying taxes, the IRS tries to make it easy for you. There provide plenty of legal loopholes to let you lower your tax obligation. While some of them are quite simple, others such as Section 831(b), are a tad complex.

Cover Your Businesses

If you run a large company or a series of companies, you’re bound to spend a fortune in insurance. Instead of lining the pockets of another insurance company, you can turn most of these dollars into tax savings. You only need to form a captive insurance company.

A captive insurance firm is a wholly owned subsidiary company that handles the insurance and risk mitigation needs of a parent company. In other words, it’s a form of self-insurance that comes with a tax break. If the captive company takes less than $2.2 million in premiums, IRS will not tax your premium income.

Ideally, section 831(b) is used by small and medium-sized businesses to cover businesses that aren’t quite economical at market rates or currently available on the market. With the help of a tax expert, you can avoid incurring the wrath of the IRS.

Hang On to Your Capital Gains

Building owner shaking hands with his buyerIf you’re in the commercial real estate sector, then you’ve probably heard of a 1031 property exchange. This lets you hang on to your capital gains when selling commercial property. Depending on your tax bracket, that can result in savings of up to 40 percent.

The only rider on this arrangement is that you don’t get to pocket any of the proceeds from the sale. Instead, you will channel all the cash realized from the sales toward buying a replacement commercial property. Since you will not be paying out any money to the government, you can afford to buy a more substantial property.

The main advantage here is that you get to keep the money working for you instead of passing it to the government. Deferring the capital gains tax means that get to buy a property with a high rental income. Also, there’s no upper limit to the number of times you can take part in a property exchange. You can swap until you drop, and your inheritor won’t ever have to pay the tax on the gains made over the years.

The Internal Revenue Service recognizes that people loathe the idea of paying taxes. To curb tax evasions, the tax service encourages people to exploit some of the loopholes in the tax code that can help you lower your tax obligation. The primary idea here to encourage people to decrease the amount of taxes they owe. You’re likely to pay your taxes if you can find clever ways to reduce the amount to an affordable level.

Key Characteristics of the Best Coworking Spaces

modern coworking space

The problem with creating your own working spaces is that you often need to spend a lot on renting out a space. For many, the costs can be too high – something that can be avoided in a very remote-centric working world today. That’s why many a coworking office franchise has proven successful. They offer time in an excellent space for critical business tasks without the hefty price tag. The following are the things that people look for in such a space.

Fast Connectivity

It’s a given that any coworking spaces need to provide access to the Internet. Without it, a few people, if not no one, will even bother to go. The key, though, to standing out from everyone else who offers connectivity is to ensure that it is reliable and fast. To provide this, you need to have a dependable ISP partner who can provide excellent service and support. Also, you also have to consider how many people you expect will be using this connectivity at the same time. Too many for what you can offer will bog down the system badly, which defeats the entire purpose of connectivity.

Unique Comfort

The irony when it comes to a successful coworking office franchise is that you want to provide comfort to those who are using the space. However, you also don’t want to provide too much ease that productivity will be seen to suffer as a result. There must be a balance between the essentials of corporate working space and amenities to provide for the relaxation and comfort of the workers. The more laid back facilities must be far from the more “serious” work areas so as not to cause distraction or any inconvenience that can affect productivity.

Warm Hospitality

casually dressed businesspeople discussing ideas in the coworking office

A surprising thing that people look for in a coworking space is the warmth and hospitality that the space can offer. This mainly has to do with the staff that you have operating your coworking space – from the receptionist all the way to any support personnel you might have on-hand to assist your customers. This also covers anything that you can offer to your hardworking customers to help spruce up their work – this can be everything from free or affordable coffee to quick access to office supplies. The more that you’re perceived as being welcoming, the more likely you are to draw customers in.

Value-Added Extras

All those things mentioned above are sure to draw customers in, but if you want to have those who will stay long-term, you need a hook to draw them in and keep them in. This includes everything from long-term membership plans to discounts for long-time, loyal customers. What you want to do is be top of mind when it comes to their coworking space needs by offering more than what your competition is willing to give.

Coworking spaces will remain popular so long as businesses are willing to adopt a more remote style of working. Offer people a great space they can converge and work in, so you can guarantee yourself a great earning potential. Always think of who you’re catering to and respond immediately and effectively to needs that you can address.