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Build It or Buy It

104 posts
first-time franchise buyer
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5 Important Tips For First-Time Franchise Buyers

Many people have the goal of owning their own business. To expedite this process, becoming a franchisee of an established brand may be an attractive option, as entrepreneurs can build off a proven formula for success to guide their decisions as business owners. However, opening a franchise location is not a fast track to riches,...
buying an existing business
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Why You Should Buy an Online Business Instead of Building One From Scratch

Good news. You can purchase an existing online business.  Whether you’re using an online marketplace, personal network or broker, there are many avenues to purchase an online business. Some business owners no longer have the passion to run a business or a new venture may lead exiting business owners to a fresh journey.  Whatever the...
program launch
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5 Strategies to Turn Around a Program Launch That Isn’t Working

If you’re a few days into your program launch and you’re disappointed by lack of results, don’t waste your time by wallowing in what you think is failure. Before diving into these five steps, first recognize that no matter the situation, your launch is not a failure. I like to tell my clients that every...
buying a business
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From Employee to Owner: How I Bought My Business

Every entrepreneur’s story is unique. Many individuals start off with a good idea. This idea allows them to create an offering or product that helps solve a problem facing customers. They acquire the necessary legal assets, including entity formations and tax IDs, so this idea may become a startup, launch, and open for business. What...
side-hustle.png
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3 Lessons for Balancing a Side Hustle When Launching a Business

Any founder will tell you that starting a new business while working another job (or two for that matter) is lousy. Figuring out what that side hustle, or main hustle, will be to support launching this new endeavor is going to suck up two things in your life: your time and attention. But it’s important...
entrepreneurial dreams
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How to Leverage Your Full-Time Job to Fund Your Entrepreneurial Dreams

When I accepted a position at a software development company after college, I was clear with them from the start. During the interview, they asked about my passion and my goals. I shared that I was passionate about real estate and planned to work full-time for myself in real estate by 30. My job choice...
buying a business
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4 Important Questions to Ask When Buying a Business Right Now

The market looks vastly different than it did a year ago, which means new opportunities — for better or worse. As businesses reopen, they offer clues to which industries proved to be pandemic-proof, meaning they were hit hard but show strong promise of recovery, and which ones appear gone forever. If you were already researching...
franchisee
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This Franchisee Shares How to Survive and Thrive During Tough Times

The year 2020 will always be synonymous with words like “tragic,” “traumatic” and “tough.” For Mosquito Authority® franchise owner B.J. Bacha, it was certainly challenging, but it was also a year when being involved in an essential business brought out the full value in being a franchisee. As many other businesses were shut down by...
blockbuster fail
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A Blockbuster Retail Franchisee Reveals Why The Chain Was Built to Fail

The following is adapted from the book "Built to Fail: The Inside Story of Blockbuster’s Inevitable Bust." Blockbuster was built by one of the most successful entrepreneurs in history, Wayne Huizenga. Before turning it into one of the most powerful brands in the entertainment world, he started Waste Management with a $5,000 loan and one...
franchisee
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Want to Start a Lower-Risk Business? Become a Franchisee

The day I became a franchisor, the ceiling collapsed. Literally. I was at Kidville headquarters in New York City and had just signed the final documents. The phone rang, and the CEO answered it. He handed the phone to me and said, “This is your problem now.” A heavy truck had pulled into the parking...
loans for franchises
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The Best Loans for Franchises

Opening your own franchise is a smart decision if you're an ambitious entrepreneur. Being the owner of a franchise offers the flexibility to be your own boss, yet with the security of owning an already established brand. Like with any business, though, the costs of starting up can be pretty high and you might need...
StartupNation Radio
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StartupNation Radio: Tom Berman of Nano Magic on Acquiring a Business

Welcome to another edition of StarutpNation Radio! On today's show, Jeff welcomes Tom Berman, president and CEO of Nano Magic. A merger of two formerly two different companies, today, Nano Magic is a leader in creating and bringing to market cutting-edge nanotechnology powered applications made in the U.S. with special expertise in liquid products to...
WJR Business Beat
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WJR Business Beat with Jeff Sloan: MLM Industry Surging During COVID (Episode 164)

While the COVID crisis has decimated certain business sectors, it is accelerating many others right before our eyes. One of those sectors growing significantly? Multi-level marketing, or MLM. Sixty three percent of companies reported to the Direct Selling Association, the industry's main trade group, that they've seen a positive impact on their U.S. revenues since...
franchise
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This Franchising Expert Shares Game-Changing Steps to Becoming a Thriving Franchise Superstar

The following is excerpted from “The Wealthy Franchisee: Game-Changing Steps to Becoming a Thriving Franchise Superstar” by Scott Greenberg, Entrepreneur Press, 2020, XVII-XXIII. I’d just come offstage from keynoting the opening session of a quick-service restaurant franchise convention in New Orleans. The presentation had gone well and now, on break, a small group had gathered around to chat....
built to sell
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Tips for Starting an E-Commerce Business That is Built to Sell

Entrepreneurs are driven by many different motivators. Some may create a new business because they feel an abstract impulse to bring a particular vision to life. Others enjoy the prospect of building a legacy for their family, generating a steady stream of passive income, or even building a multinational enterprise. While many entrepreneurs won’t necessarily...
StartupNation Radio feature
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Build it or Buy It: StartupNation Radio feat. Coretek Services and Metro Signs

This episode of StartupNation Radio is brought to you by Pappas Financial  On today’s episode of StartupNation Radio, Jeff is joined by frequent co-host, Norm Pappas, president and CEO of Pappas Financial. Together, they interview Ron Lisch and Paul Deters. StartupNation exclusive discounts and savings on Dell products and accessories: Learn more here First up, the two...
COVID-19 startupnation radio
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Build It or Buy It: StartupNation Radio feat. John Patry and Mike Kaszubski

This episode of StartupNation Radio is brought to you by Pappas Financial  On today’s episode of StartupNation Radio, Jeff is joined by frequent co-host, Norm Pappas, president and CEO of Pappas Financial. Together, they interview John Patry and Mike Kaszubski. StartupNation exclusive discounts and savings on Dell products and accessories: Learn more here John Patry is...
startupnation business beat
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WJR Business Beat with Jeff Sloan: Commando Lock (Episode 13)

On this morning's WJR Business Beat, Jeff shares the success story of local entrepreneur, Matt Damman, CEO of Commando Lock. A lifelong entrepreneur, Matt's story with Commando Lock is an interesting one. Instead of coming up with the product idea himself, Matt went out and found a product that was being underserved, and put together...
franchise
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3 Signs Your Existing Startup Should Franchise Right Now

It is estimated that that a new franchise opens every eight minutes. Every. Single. Day. That’s a lot of competition — with over 900,000 franchise businesses operating in the U.S. today, it can be overwhelming to even attempt to enter the market. Choosing to franchise can be a make or break decision, and timing is...
financing
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The 3 Best Financing Options When Buying a Franchise

Across the U.S., franchise businesses produce $760 billion of revenue and employ over 8 million people per year. Those are the kind of numbers that might inspire you to open a franchise business of your own.  However, when you zoom in on how much it takes to finance opening a franchise, you might feel less...