The restaurant business can be a place where you can really make a great deal of money. While you have to work hard and long hours, it can pay off big in the end. Owning a restaurant franchise can be a great way to go about opening your own restaurant. However, there are things you should know before starting this endeavor. Here are eight things to know before owning a restaurant franchise.

Understand that a franchise will take up the majority of your time

If you are planning on working on your golf game or spending a lot of extra time with your family after you are the owner of a restaurant franchise, think again. These types of franchises will end up taking a lot of your time.

Restaurant franchises cost a great deal of money 

In most cases, if you want to own a major restaurant franchise, you are going to have to have a net worth of at least a million dollars. There are also many fees involved with owning one of these franchises

How reliable is the franchise you are choosing 

You must make sure that the franchise you are choosing is a reliable one. If you purchase a franchise that is ready to go bankrupt, your business could fail. Do a lot of research before you purchase your franchise.

Are you willing to stay in one place for the next few decades

If you are the type of person that likes to move around a lot, this is probably not the opportunity for you. A franchise requires you to stay in one place and make sure everything is running smoothly. It is a lot harder to just up and move when you are a franchise owner.

Is your territory right for this franchise 

In certain areas, certain franchises do well. You need to make sure that your territory is right for the franchise you are looking to own.

Do you have previous restaurant experience 

When you are applying to own a franchise, many of the parent companies want to see that you have previous experience in the restaurant business. This is a key part of being a successful restaurant franchise owner.

You must follow the rules 

It is important that you remember to always follow the rules when you are owning a franchise. If you do not adhere to the rules that are set in place, you may be in for a troublesome experience.

You usually aren’t allowed to try out new foods

If you have a lot of new recipes that you want to try out, a franchise is not the place for you. It is important to stick to the menu and recreate the experience that is in all of the other locations.

The field of law is one of the most sought after career fields in existence. According to the American Bar Association, more law students are becoming lawyers than ever before in the history of the United States. Becoming an attorney can result in high pay and much prestige. However, many people who wish to become lawyers may hold significant misconceptions about the profession. Below are seven you should be aware of.

Being an Attorney Is Always Glamorous and Exciting 

Thanks to TV shows about lawyers like Perry Mason, people tend to conceptualize the profession of law as something that is inherently exciting for even glamorous. This isn’t true in most cases. There is a ton of reading, studying, drafting and filing of legal documentation required. As Forbes reported, most civil cases don’t even go to court.

Law Work Is Always Intellectually Stimulating 

While practicing certain kinds of law requires a robust intellect and constant learning, this does not hold true for a good portion of the work lawyers perform. Newer lawyers especially may work in a law firm and be tasked with very boring and mundane work such as document review.

Being a Good Debater Makes You a Good Lawyer 

Some people may be convinced they could become excellent lawyers because of their ability to sway their friends and colleagues during informal debates and arguments. However, real legal arguments are more strongly tethered to logic, research and what the legal code says than simple informal debates are.

Lawyers Are Social Justice Warriors that Change Society 

Due to watching lawyers on cable news programs, some naive individuals may think that the law is a good avenue for activism to bring about social change. Instead, lawyers have to work within the legal code that exists. While you may be able to represent clients that need help, you won’t be changing much of anything in the larger scheme of things.

Being a Lawyer Means Instant Riches 

Many lawyers are in upper income brackets, but not all lawyers are. The highest paid lawyers tend to work for the highest paying law firms. Most attorneys, however, will not meet the stringent qualifications to get hired by such a firm.

People Hate Lawyers 

The impression that lawyers have a negative reputation in modern society is extremely overblown and again mostly fueled by television. The real truth is that most people need legal work at different points in their lives and have developed positive relationships with lawyers. This will help to raise your standing within your community.

Becoming a Lawyer Is Too Difficult 

It is true that graduating from law school and passing the bar exam is exceedingly difficult. It’s not something for the lazy. Still, plenty of hard working individuals with drive manage to obtain their law licenses every year.

Developing more brand awareness for your local business will help drive customers to your products and services by creating more meaningful connections between your business and its clients. Getting your brand in front of enough eyes to make an impact isn’t easy, though. In fact, many business owners struggle to simply maintain the level of awareness they’ve managed to create within their communities. The businesses who are able to successfully increase and maintain brand awareness within their local communities take a multi-faceted approach. Here are five ways that you can start developing more buzz around your small business.

1. Create an eye-catching storefront

Whether your business is new to the neighborhood or one of the oldest on the block, adding to your store’s curb appeal will help draw attention to your store. Get creative by hiring a designer to develop a window display with depth and texture. This will make your storefront visually stand out from the rest. You can also work with a graphic design studio to create custom signs or window decals for your business.

2. Organize a giveaway

The next time you host a sale or event at your store, give something away! Make sure that your customers know about the giveaway in advance by telling them about it in-person and utilizing your marketing and social media channels. You can easily draw in extra foot traffic with a small gift card, voucher, or product giveaway. People love free things. They also love to tell their friends about free things!

3. Sponsor a local event

By sponsoring a local sporting event, festival, or youth program, you can get your branding in front of a new audience. The more relevant your business is to the event, the more results you’ll see from the sponsorship in terms of brand awareness. For example, a company that produces weekly planners might find themselves out of place at a music festival, and more successful at a women’s business-themed convention. If the event allows you an on-site presence, bring a table, informational flyers, custom signs with your branding, and some kind of freebie with your brand name on it to hand out.

4. Improve your local SEO strategy

What does your local SEO strategy look like? When your website is correctly optimized for local search results, you’ll get free foot traffic from Google. Sit down with whoever handles your SEO and ask them about local SEO specifically. If there isn’t a strategy in place, consider hiring an SEO agency to implement one for you. Ideally, each page on your site should target local keywords, like “dentist in Houston area” or “best Atlanta coffee shop”. Another important step for local SEO is creating and maintaining listings for your business on popular business directories, like Yelp, Google my Business, and any reputable business directories in your area. Having consistent business information across the web helps Google verify that your business is trustworthy and on top of its online presence.

5. Keep up with social media

Maintain your social media accounts and always engage with your followers. Every comment, review, and message you get should receive a response from you. Today, social media is a form of customer service. Don’t forget that your interactions on social media are often publicly viewable, so be sure to keep your posts friendly, professional, and on-brand. Research and utilize popular and relevant local hashtags in your area for heightened local visibility and brand awareness.

Metal buildings have become incredibly popular these days. They are steel structures, which have steel or wooden frames. They are easy to install and are also built to last. You can find them in various types that range from commercial and residential metal buildings to livestock and hay barns. Most people prefer them because of their construction that needs less time. They are also affordable and can survive extreme weather conditions. Here are a few things that you need to know about these buildings.

 

Metal Buildings are Flexible

 

This is one of the things that most people do not know about steel buildings. You can instruct your structural engineer or project manager to design the building in a particular way to fit your personal needs. You can even add a pre-engineered metal building later if you want to. This is why they can be used for many purposes: as homes, garages, churches and even stores.

 

They need Specialized Knowledge

 

In spite of their simplicity, metal buildings should be installed by people who have enough knowledge on how to do it. They are not complicated, but they are different. If you don’t hire a skilled engineer, your project might flop. Therefore, ensure that you get the right person for the job.

 

It is not Always best to Settle for Turnkey Buildings

 

Whenever you want a metal building, going for a turnkey one is not the wisest decision to make. You might end up parting with more money than necessary and be ultimately disappointed. This is because it is logically impossible for a salesperson to give you an honest price. Besides, they have no idea how your site looks like. They also don’t know the labor and concrete rates in your location.

 

Engineering Metal Buildings take Time

 

You should not have to wait until the last minute for you to look for the perfect metal building to purchase. Meticulous engineering takes time, and the last thing you need is a poorly fabricated building that doesn’t meet all your needs. Start making plans about your pre-engineered structure as early as possible so that you will not be dissatisfied when it is delivered.

 

Adding Air Conditioning Units requires Preparation

 

Once you have your metal building, you have to install air conditioning loads. They have to be appropriately engineered and placed in the right spots. It would be unwise to start recklessly making holes wherever you think they should be. Prepare and seek help from a professional if need be.

 

Recently, metal buildings are replacing traditionally made buildings. Setting them up is pretty easy, and they are also durable hence they can be used for a long time. When purchasing one, ensure that you know everything that is about them. This helps to choose the right structure that is specifically designed to satiate your needs.

Many people desire to become a real estate agent due to the flexible hours and high salary that can come with the profession. Most people can become an agent at any time in life when they want a career change. If you’d like to learn how to become an agent and get started in the industry, there are a few important steps to take.

Enroll in a Real Estate Pre-licensing Course

According to kapre.com, you’ll need to enroll in a real estate pre-licensing course from a certified institution. You’ll need to take 60 hours training to learn legal aspects in the industry, real estate practices, and learn the principles that are associated with the position.

You can choose to take the course in-person or online to ensure that it works with your schedule.

Take an Exam

Each real estate agent must pass their licensing exam to begin working in the industry. The exam has two parts, which includes general real estate principles and state-specific laws, according to realtor.com. You can practice with sample tests that are available and even retake the test if you fail the first time.

Obtain a Membership

After passing your exam, you can get started by paying for a membership to multiple listing services, which is an average of $200 to $400. The membership is essential because it will allow you to analyze market trends, obtain property tax information, and view listings that haven’t been advertised on the market.

Find a Brokerage

Many real estate agents start their career by looking for a brokerage to work for when assisting clients with buying or selling homes. Brokerages are known to pay their real estate agents commission, which makes them easy to join when you’re starting out. Look for a brokerage in the local area that is happy to welcome you and will also provide you with a bit of training.

When looking for the right broker, you can ask if the brokerage requires additional coursework, how many years of experience they have, how they develop leads, and how long it takes to earn commision checks.

Become a Broker

Once you become established in the real estate industry, you can also become a real estate broker after having a few years of experience. The state licenses brokers, which is a job that will require you to monitor real estate agents to ensure that they’re following legal and ethical standards during the transactions.

Develop a Budget

You’ll need approximately $1,500-2,000 for business cards, ads, signs, association fees, exam fees, and money to get by in the coming months before you begin to earn money as a professional agent.

Data analysis can be a potent tool, one that may allow businesses to glean a great deal of useful insight. Simply knowing which metrics to track can make a considerable difference for businesses seeking to optimize performance or boost their sales figures. From sales figures to social media stats, knowing which records and data sets are worth tracking and assessing can be of major benefit.

One: Productivity 

Tracking, logging and recording as many aspects of employee performance as possible can often be a very smart move. Assessing the effectiveness of workflow processes or determining which new policies may be worthy of implementation is far simpler for those who have access to the right data.

Two: Efficiency 

Efforts to optimize efficiency within the workplace are more likely to be successful when based on the most accurate and detailed information. Software applications and other digital resources that may automate the process of tracking efficiency may prove to be a valuable asset.

Three: Sales Figures and Revenue 

Data pertaining to sales and revenue plays a key role in ensuring that any business or commercial organization is able to enjoy greater success. Detailed records regarding any financial transactions should always be carefully cultivated.

Four: Online Traffic 

Everything from inbound site traffic to sales conversation ratios may be useful for ensuring that businesses are able to optimize online revenue streams or enjoy the benefits of a more prominent online presence. Overlooking the potential importance of online statistical data can leave businesses unable to implement more effective changes to their site or digital marketing strategy.

Five: Social Media Stats 

Data sets pertaining to social media sites and services can often be just as important as statistical information generated by a dedicated website. Social media has quickly become an essential tool for any online promotional effort or advertising campaign and possessing greater insight into how customers are interacting with a business can often be invaluable.

Data Analysis Services and Solutions 

Even the most detailed data sets may be of limited benefits to organizations who lack the expertise, understanding and resources needed to assess and understand them. From software applications that may generate detailed real-time reports based on the latest data to service providers who are equipped to run scenarios and other more advanced analysis methods based on past records, there are plenty of resources that may be of benefit. Knowing which stats, metrics and aspects of performance or operation to track and monitor can produce a wealth of information that may allow for more effective analytics to be performed.

Expenses have a way of creeping upward, without business owners being aware of it. Vendors may raise prices, insurance costs may rise automatically and the need to keep up with ongoing projects may cause overtime costs to balloon. Smart entrepreneurs know that a periodic review can help to regain control over expenses, so that can free up money for other needs. Here are just a few reasons why it’s in your interest to take a hard look at your current expenses:

1 – Increase Owner Dividend
By reducing expenses, owners can free up money they can pay themselves for all the time and effort they put into growing their business. The rewards from owning your own business can be significant, but they won’t accrue unless you ensure that your business operations are running on a tight budget.

2 – Create Funds for Expansion
American Express recommends that your business may require more space or may require a marketing campaign to bring in more customers. Cutting expenses will allow you to find the funds for this effort from your own coffers instead of going to the bank for a loan. By funding it yourself, you will begin to see bigger profits more quickly.

3 – To Improve Your Credit Rating
If you have a large expansion in mind and will require additional loans, you should pay off any old loans and tighten your expenses to show your company’s profitability in the best possible light. Cutting expenses to maximize your profits will persuade your banker to give you the best rates.

4 – To Provide Funding For Big Projects
Entrepreneur Magazine recommends that business owner get bids from your vendors, call in some new quotes on insurance and maintain a good hold on overtimes costs to find the additional money for tasks like completing a large project successfully. In this way, the job will not cost you more on interest for a loan.

5 – To Fund New Technologies
New technology is the one investment that can make a big difference in your bottom line. Rather than reaching into your line of credit to fund new technologies, see if tightening your expenses can provide the funds you need to update your office and shop processes. In this way, your purchases of new technology can quickly contribute to your ability to make more profit.

6 – To Provide More Benefits
If you have a productive workforce, you want to keep your key people to continue your business gains into the future. This goal may require additional money for new benefits that are able to compete with other companies in your industry. You will be better able to finance these additional perks for your employees if you tighten your spending on everyday expenses.

If any of the 6 reasons among your goals for the future, consider trimming your expense to help achieve them quickly and economically.

Did you know that as a great manager, one of your roles is that of a teacher? Your leadership status reflects a high level of knowledge and experience. As an exemplary boss, you likewise want your staff to excel in their jobs.

Probably not all your workers are fully versed in business ethics, etiquette, and professionalism. Getting everyone on the same page helps your company achieve its goals. Here are six vital lessons to teach your employees.

1. Be responsible and accountable.

Although these two words are used interchangeably, their meanings are distinctly different. A job responsibility is a mandated task, an obligation. Accountability is owning the outcome.

As a supervisor, be an example of taking duties seriously and standing by the finished product. If you make mistakes, admit and correct them. By doing so, employees get the message that errors are both forgivable and fixable.

2. Practice the keys to productivity.

They are:

• prioritizing
• organizing
• time management
• focusing

Prioritizing

Employees barraged by urgent demands may not be able to distinguish priorities. Clarify for your staff which tasks rank high in timeliness, and which are less pressing. Once time sensitivity is established, show employees how to break down jobs into smaller tasks. This strategy makes getting started less overwhelming.

Organizing

Being organized keeps materials at your fingertips. Each staffer must have designated places for paperwork and files for digital data. Organize paperwork in folders, file trays, accordion files, a card Rolodex, file cabinets, and shelves. Digital information should be stored in computer files and tablets.

Time Management

Setting goals aids time management by channeling mental energy. Identify for each employee their work targets. Then, they should map out steps to achievement, estimating the time needed for each. Employees can report to you periodically on goal status via emails and meetings.

One of the thieves of time management is procrastination. Employees who tend to drag their heels need close supervision. To motivate them, offer rewards for being timely.

Focusing

Being distracted scatters concentration. Try to minimize diversions and interruptions. Providing a low-noise environment helps. Employees should conduct personal calls privately, on breaks and during lunchtime.

3. Embody integrity.

Encourage staff members to be upright in character. Having integrity means treating others as you wish to be treated. Regard fellow workers with genuine empathy and respect. Be honest in your interactions.

Tell your staff, “If you see business practices needing improvement, let me know.” However, instead of criticizing, they should offer ideas toward solutions. Their incentive should be for the corporate good rather than a personal agenda.

4. Understand that all jobs are equally significant.

The housekeeping employee who cleans the bathrooms is just as important as the CEO. Each person plays a vital role in company operations. Employees need to see how they fit into the big picture. Understanding their part helps sustain motivation.

Show workers the ways their jobs tie into corporate goals. All employees, including part-timers, must know they’re valued. They should also realize how business success affects them. Beyond funding their paycheck, prosperity is proof of their abilities, talents, and skills. The workplace is a vehicle for expressing their highest potential.

When employees feel appreciated, they have a vested interest in helping your business grow. One way to reinforce their importance is to reward employees upon achieving a goal. Acknowledgment can take many forms, such as catered meals, bonuses, offsite gatherings, or congratulatory meetings with senior management. Here are more ways to reward employees for work well done.

5. Be a congenial team player.

Emphasize to staff members the necessity of working harmoniously as a team. You can foster unity by cross-training employees. Doing so also maintains workflow during staff shortages.

Clearly define the qualities of an effective team player. Such a staffer is adept at communication, collaboration, and problem-solving. They have an agreeable attitude, recognizing that all team members share a common goal.

Toward that end, each person should be alert to how they can help their coworkers. Avoid gossiping, criticizing, and arguing. Instead, see the good qualities in each other. Compliment and encourage one another daily. Applaud accomplishments. Be courteous, saying thank you at each opportunity.

6. To continue growing with the company, be adaptable.

Resisting change is natural. New developments can be disruptive and challenging. However, staying in business requires modifying operations. Employees who readily adapt are happiest. They’re also favored by management.

To become flexible, ask your staff to stay open-minded. Look for the positive aspects of making changes. For example, learning new technology makes work easier and more efficient.

Tell workers, “You’ll adjust faster by being fully involved. Your zealous attitude will inspire everyone around you!”

How to Teach

There are three components to effective teaching. First, model the lessons you wish to impart. Be a prototype your staff can emulate. Secondly, each day, spend time working alongside your team. Then, regularly hold staff meetings to maintain communication and cooperation.

Golden Lessons

Share the lessons you’ve learned that have fashioned you into a great leader:

• Be responsible and accountable.
• Practice the keys to productivity by prioritizing, organizing, managing time well, and focusing one-pointedly on tasks.
• Embody integrity.
• Understand that all jobs are equally significant.
• Be a congenial team player.
• To continue growing with the company, be adaptable.

By incorporating your lessons into their work styles, your staff will be all smiles. Moreover, they’ll adore you!

Business owners who want their organizations to become as successful as possible should know that making diversity integral to the company culture is a great way to realize the goal. There are many reasons why you need to focus on diversity in the workplace if you want your organization to succeed. Here are 5 of them:

1. It Promotes The Well-Being Of Your Workforce.

As noted in Forbes, emphasizing diversity in the workplace is important because it helps promote an environment of openness and authenticity. Specifically, diverse work settings help employees feel more comfortable having conversations about their similarities, differences, and the unique skill set that they bring to the table. This type of setting can help diminish workplace hostility and promote mutual understanding, thereby enabling staff members to work together in a peaceful, productive way.

2. A Diverse Workplace Drives Economic Growth.

Another reason that emphasizing diversity in the workplace is important pertains to the fact that it drives economic growth. As noted in American Progress, there is a direct link between increased diversity and the growth of capital. This is why it is a good idea for business owners to focus on hiring gay people, transgender individuals, and ethnic and racial minorities. It is also important to focus on bringing more women on board. There are several reasons why a diverse workplace can drive economic growth, and one is that it can cause minorities to connect with your brand when they see that it is being represented by someone who looks like them or shares a similar ideological slant.

3. Diverse Recruitment Entails A More Qualified Workforce.

Another reason that focusing on diversity in the workplace is important results from the fact that it leads to a more qualified workforce. Specifically, when a business recruits people from diverse backgrounds, it’s more likely that they’ll be exposed to a wide range of candidates with great talent. By pooling from the biggest and most diverse candidate set, you’re much more likely to bring the best and brightest people on your staff.

4. Diversity Improves Retention Rates.

Another benefit of making diversity an integral component of the workplace results from the fact that doing so will improve your retention rates. Specifically, maintaining an inclusive, diverse workforce enables business owners to decrease their employee turnover costs. Unfortunately, monocultural environments can contribute to a hostile work setting, thereby increasing the likelihood that staff members will leave. Yet by maintaining a discrimination-free, diverse work setting, you can improve your retention rates and thereby avoid the financial loss that results from high turnover rates.

5. Diversity Fosters A More Innovative Workforce.

One final benefit of emphasizing diversity in the corporate setting pertains to innovation. As many business experts know, maintaining a diverse staff means that your company will be populated by people with diverse experiences, backgrounds, and qualifications. The outcome of this diversified staff is the increased innovation and creativity that results from the ongoing presence of multiple perspectives and distinct approaches to the realm of problem-solving.

Don’t Delay: Make Diversity Integral To Your Company Culture Today!

If you want your company to succeed this year, it’s important to recognize the role that diversity can play in helping you realize the goal. Refer to the information outlined above when you’re looking for motivation to start diversifying your workforce!