Wednesday, October 11, 2017

Health Food Restaurant




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People everywhere are getting health conscience and they keep an eye on what they eat. Presently, health food is in high demand. A restaurant serving health food not only provide a change from routine, an opportunity for socializing and entertainment but also a food good for health. There are many potential customers for the health food, who due to their busy schedules can not fix it on their own and a restaurant serving their desired menu will be a blessing for them.

If planned and launched properly, it is expected to be a profit oriented venture. Like many other businesses a good location is important also same time a number of customers may want the food to be delivered to their premises i.e. homes, offices, schools, gyms etc. So a food delivery arrangement able to timely reach the customers is absolutely necessary for the success.

Here you may need an expert's help to develop a mouth watering unique healthy menu. Also a number of different type of employees will be needed to properly run the business. This includes Chef, chef helper, waiters, dishwashers, delivery persons, purchasers, accountant, restaurant manager, supervisor, housekeeping staff etc.

The initial investment may be reduced by renting the premises and hiring the delivery persons with their own transports. However, you need to buy kitchen equipment, furniture, crockery, etc. Also, funds will be required for the improvement / alteration of the dining hall to make it an attractive place for the customers.

The advertisement can be done through local newspapers, internet and billboards. If budget allows then local TV channels and radio stations may also be used. It is highly recommended to do a detailed research before you start the project. Also, know law of the land and tax matters related to the business.

I hope you found the above helpful. Please feel free to comment.


Thursday, March 16, 2017

Entrepreneur's State of Mind


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A beginner needs a number of things to start and manage a business successfully. This include a good business idea, a complete road map, a capable team, sufficient funds, necessary equipment & infrastructure, required knowledge & skills etc. The single most important item among all the things, which one needs to start a new business, is an entrepreneur's state of mind. One cannot achieve success without it. 

Individuals with an entrepreneur's state of mind always stay happy. Their presence make people working around them happy. They create this atmosphere of happiness because they understand that happy people get the job done

Entrepreneurs with the right state of mind know that starting a new business is not easy. They know how to manage stress and how to keep it out from their work places. Once stress enters a business it has negative effects on its people's performance.

Entrepreneurs are highly motivated individuals. Their words and actions motivate their entire team. Also, they are brave and well prepared to face any unexpected challenges with patience.

They understand learning is a never ending process. They are always busy in learning something new and transfer the knowledge to the people working around them. In short, people with an entrepreneur's state of mind have a positive mental attitude. They always hope for the best.

I hope you found the above helpful. Please feel free to comment.






Wednesday, March 15, 2017

Fitness Centre

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Fitness centers through out the world are in great demand. Teenagers to senior citizens everyone wants to be in shape. Awareness regarding adapting a healthy lifestyle is growing rapidly. Now people understand that healthy bodies posses healthy minds.

People prefer indoor fitness centers as rain & harsh weather sometimes make it difficult to exercise outdoors. A gym or fitness center is also in demand as it has to offer a variety of exercise machines for different muscles. Further, it has trained staff to teach the members about the usage  of each machine and help them to make a workout plan according to their fitness goals. 

The location of the fitness center is very important. It should be located near a residential area where people living nearby can easily visit. The marketing of the business can be done by internet, placing ad in a local newspaper, placing an eye catching billboard outside the business and distributing handbills in the crowded areas near the fitness center.  

If done right it is a profitable business and it is a low cost setup. A fitness center can be established in a rental place. In many countries one can buy exercise equipment on easy installments. A small size gym can be managed by 2-3 people. Before you start the business try to understand the target market, know law of the land regarding your business and other related information.

I hope you found the above helpful. Please free to comment.


Tuesday, March 14, 2017

Herb Farming

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If you like working outdoors and love nature then establishing a small herb farm is an ideal business for you. Herbs are in demand almost every where in the world and fetch good rates. A small farm needs high value crops like herbs to become profitable as due to its little land holding it can not earn on economies of scale.

There are medicinal and culinary herbs. These are sold fresh as well as in dried form and usually in small packings i.e. 50 gms -200 gms. You can attract customers by internet. Also, you can sell directly to restaurants, supermarkets and Farmer Markets. Opening your own shop in a good location may also be a good idea. The more points of sale you have the more revenue you can generate.

Before you start your business know your target market and select the herbs to be grown accordingly. Also, gain all the necessary information before you decide to invest. Knowing laws of your area related to the business is also very important.

In order to supply round the year, you need to invest in plastic tunnels and/or green houses depending upon the weather of your area. Once you gain some expertise then you may convert yourself into an organic farm as organic herbs have higher rates & more margin which means higher profit.

I hope you found this helpful. Please feel free to comment.

Monday, February 27, 2017

Driving School



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Driving schools in the cities with a growing population attract a sizable business. Young people are the main target market. Besides giving driving lessons school may also prepare its students for clearing the driving test. Other services may include teaching some basics about the cars i.e changing flat tire, checking oil, radiator coolant, etc.

Establishing & managing driving school business is neither capital nor labor intensive. It is a low budget business. Dual control cars, computers, an office premises are enough to effectively run the business. Marketing can be done through internet, local newspapers and by distributing hand bills in the areas frequented by young crowd.

You may require a business license and instructor training before starting this business. Also, there may be other formalities & requirements. Please know and follow all the rules & regulations, of your area, related to your business.

I hope it's helpful. Please feel free to comment.

Tuesday, October 18, 2016

New Product Development in Small Business

In this world where everything is changing, products also need change to survive and gain more market share. Innovation / change or  new product development is necessary to stay ahead of your competitors. Customers expect and demand something different time to time. A good change gives new life to the product.

Unlike, big organizations small businesses have limited resources so when a small business opts for new product development then the owner has to share the major work burden.


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New product development could be a totally new product or could be a change in packaging, size, design, material or in  product features etc. Some of the advantages of new  product development are:

            * keeps your clientele intact.
            *  helps you stay ahead of your competitors.
            *  helps you increase your market share.
            *  prolongs your product's life.
            * improves quality of your product.
            * mostly it reduces your cost.
            * eventually leads you to more profitability.

Following are the steps needed to be taken for New Product Development:

Understanding when there is a need for product development: An unwanted change / innovation is not helpful for anyone. Timing is crucial. If you are late then your competitors may take advantage and capture bigger market share by launching the new product before you do.

Generating ideas how to fulfill the need: Once you know that change is necessary and market is ready to welcome it then think how will you deliver it. You can generate ideas by brain storming, talking to experts, research through internet, by visiting libraries, listening to your office concerned staff etc.

Do a detailed research on your idea: Once you have finalized your idea then do a detailed research on it. Find out how much time & money will it take to realize your dream. What will be the market size, profitability etc. Also, how is it going to benefit your customer.

Testing your idea: Once you are fully comfortable with your idea then produce the new product on a small scale for test marketing. Show the new product to your marketing staff, retailers and to the end users to get their feedback. If necessary make amendments accordingly.

Making a comprehensive launching plan: After you receive a positive outcome from test marketing make a comprehensive launching plan. Workout every detail i.e. funds needed, manpower requirement, ad campaign etc. Then set the deadline and give your best shot.

Post launching review: After the launch be in constant touch with your marketing staff, customers and other stakeholders. Give importance to the feedback you receive from them and make changes and improvements accordingly. Here, understanding customer needs and delivering according to their expectations is the key to success.

I hope you found the above helpful. please free to comment.







            

Wednesday, October 12, 2016

Market Intelligence for Small Business

Things around us are changing rapidly. In order to survive and grow we need to embrace the change timely. People who are slow to change or do not change lag behind others. Same goes for businesses.



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Businesses need market intelligence to understand what is changing and how it is going to make a difference for them. Also, this information helps them in decision making and to set & adjust their long term & short term goals. It is also required for market development and capturing bigger market share.

In simple words Market Intelligence is the latest information about anything relevant to a particular business which may affect it in any manner. It could be about:  new taxes government plans to impose,  a new substitute of your product, competitor has introduced something better ,a new cheaper source of raw material etc.

Keeping up with the change and taking prompt action is vital for the survival and growth of any organization. Big organizations have separate departments for gathering market intelligence and also they can hire services of agencies but small business have limited options. Some of the ways small businesses can gather Market Intelligence are as follows:

Customers: Always keep in touch with your customers. They are a good source of information as they are in touch with you as well as with your competitors, so many times they tell you what your competitors are offering.

Internet: Social media, customers', competitors', vendors', and News' websites reveal a lot of information. An online survey about your products / services may also be helpful. Once you get all the information then analyze it and act accordingly.

Your Sales Team: Frequently communicating with your sales team also gives you an sight about what is happening around you. Sales people are in constant touch with your customers. Also, when they go out in the market they see & meet their customers. They understand their & competitors' strengths & weaknesses. So, your sales team is one of the best sources to gather Market Intelligence.

Vendors: They can also be good source of information. They tell what & when they are going to offer something new but sometimes they also share what your competitors are doing.

Your Own Website: Track audience who visit your website. This will help you to find potential customers. Update your website or social media pages frequently and read visitors' comments regularly. This will also let you understand what is happening in your business environment.

Competitors: Always keep an eye on the activities of your competitors. Check their websites, social media pages and ad campaigns regularly. Also, visit the market to check their product price, quality, packaging etc.

Please keep in mind, gathering Market Intelligence and acting accordingly is not a one time job, for your survival and growth, it needs to be done frequently.

Hope you found the above helpful. Please feel free to comment.