Jul 24

A Retail Store Business Plan – Projecting Revenue

There are two main methods to project revenue for your retail store when creating financial projections for your business plan: a top-down approach and a bottom-up approach. It is advised to use both methods to make sure that your projections are reasonable to readers.

Top-Down Approach

A top-down approach would be to start with an average sales per square feet benchmark for your type of retail establishment. This is defined as total net sales divided by the square feet of selling space. While looking for an industry average, check if there are geographic differences that would affect your store. You can assume that, upon launch, you will be below the industry average, but be able to climb closer to it or above it over time.

You can look for this average sales per square foot with trade associations and publications and in business publications at a library. To get examples, you can apply some calculations to the numbers in annual reports of the large public companies in your industry. You can even ask owners of similar businesses in other states who aren’t in direct competition with you.

However, if you find, for example, that Target has sales of $50 per square foot per year, $50 may be difficult for your store to achieve. Target operates with extreme economies of scale, has a recognizable brand, and has been around for many years. Unless you have reason to believe the specific opportunity for your store will lead to a much greater volume of sales, don’t assume you can do better than industry giants on sales per square foot.

Bottom-Up Approach

To project revenues from the bottom-up, look at your specific situation, starting with the location you expect to be operating at. Estimate the customers who will enter your doors on a given

Jul 22

What Do Energy Brokers Do & How Could They Help Your Business To Get The Best Rates On Energy

What do energy brokers do & how can they help your business is something that all large companies should look into as you want to try minimize your energy cost while getting all the energy you need to run your business. An energy broker can come in an audit how your company uses energy in order to get you the best price for energy.

There are several different types of rates that can be used such as a fixed price, a hybrid between a fixed price and index price and a straight index price. Smaller buildings can benefit from having a fixed price as you will be paying lower rates during peak times and then average rates all other times. The savings themselves cannot be seen until you look at your energy costs for the entire year when using a fixed cost.

Fixed price contracts tend to show savings at the end of the year as you will save a lot on peak seasons and then not as much during the lower energy seasons.

One advantage in using an energy broker is that you have an expert in the field of energy and they may have knowledge that you are unaware of. They also can let you know ways in which you can save on energy.

The two main benefits of using an energy broker is that they are experts on energy and will be able to evaluate your companies needs so you get the best price for your energy. They also will save you a lot of time because you have given one person the authority to haggle over details. You will not need to waste time having endless group or board meetings to come to a mutually satisfying contract.

Energy brokers will charge for their services either by getting a percentage of the

Jul 20

Smart Business Ways To Liquidate Forklift Truck Businesses

Your business might be sinking and you are inept in finding an appropriate way to liquidate and dissolve it. Even pre packaging a sale and doing it all over again becomes a taxing task. What is one supposed to do in moments like these? Panic! Ponder! Perspire! Keep these 3Ps aside and focus on coming out of the situation. There are ways to close out your used forklift trucks business and do better things. As a Director of the company, the onus is on you to culminate and close out operations. You have the responsibility to ensure that the company further incurs no debt and is able to close out comfortably without any legal tangles coming into the fray.

A used fork lift trucks business has to be closed out in a very orderly fashion. A graceful exit is always better than a disgraced one. The most popular choice to stage an exit from a used forklift trucks business is by calling in an insolvency practitioner. The practitioner can be further told to call a meeting of creditors. He will prepare a statement of affairs, hold a meeting and deal with all procedural aspects involved in liquidation. This is to inform the creditors about the current status of the company and to tell them about the ways in which they can participate in dividends. This process is known as Creditors Voluntary Liquidation, CVL.

The personnel coming in and doing all these honors will charge a fee for their service, starting from somewhere around 5,000. There are several advertisements in which the personnel doing and handling the used forklift trucks business advertise, and one just has to follow this, trace them out and hire their service. These costs can be put into the assets possessed by the used forklift

Jul 20

The Influence Of Internet On Business And Marketing

Similar companies compete against one another while being only a click of the mouse away. In other words, a buyer can locate numerous sellers offering similar merchandise, similar prices and similar offers in a very short time period. As more people and businesses become comfortable with the internet, the marketing landscape will continue to evolve quickly in the coming years.

Use of the internet has exploded during the last few years in both the consumer and business-to-business markets. Although the experts still debate the future of the internet, no one doubts it is having an impact on how business is taking place in the twenty first century, even with all of the – – dot crashes – – of the late 1990s. Here are some facts about the internet that highlight its tremendous growth and presence in society:

– The most common products that consumers research online and purchase off-line at the store or outlet are: automobiles, computer, hardware, travel, electronics, books, appliances, music, sporting goods and clothing.

– Over 25 percent of all business-to-business purchases are placed through some type of internet connection.

– The five top business-to-business e-commerce products are computers and electronics, motor vehicles, petrochemicals, utilities, papers and office products.

– In 2004, 10 percent of business-to-business advertising dollars were spent on the internet. The total amount spent was $8.7 billion.

– About 54 percent of the e-mail users have responded to an e-mail advertisement. Almost half purchased a product.

– Internet retail sales account for almost 2.5 percent of all retail sales.

Business-to-business marketers were among the first companies actually to make profits using the internet. In todays marketplace, the web is becoming the communication tool of choice for many business-to-business companies. The internet provides opportunities for communication, customer service, sales support, collaboration and e-commerce.

Some

Jul 19

What Should You Look For In A Haulage Company

If you work in a company that needs to hire a haulage company for the deliveries and packing of their items, then you know that choosing the right company can have an impact on the way that you operate.

If you have ever used a company that does not keep their promises and does not deliver on time, then you will understand that it has an impact on your business. If your deliveries are constantly late, then a customer might not want to use you again and that means you will have lost money.

If you are thinking about hiring a company to deliver items for you and export items when you need it, then read ahead for some tips on how to choose the best company, to compliment your business.

Environmentally friendly

One of the first things that you should look for should be their policies towards the environment. Large haulage companies should acknowledge that they have an impact on the environment in the course of their business.

For example, most companies that export and deliver items will use large crates to make sure that the items are protected during transit. These crates are made out of wood and they have an impact on the environment.

To make these crates, trees are cut down to get wood, so the crates can be made. If a company is fine with the fact that they have to take some trees to make their crates, then you need to ask yourself if you want to be associated with a company that doesn’t really care about the environment.

The best companies will have policies for whom they use to source their wood for them. They will only buy wood from companies that adhere to the rules of the forestry service, which chooses which trees can be cut down and they

Jul 18

Small Business Telephone Systems For Effective Communication

Implementing an efficient telephone system can definitely improve the way you communicate with your customers and business associates. Small business telephone systems are a great option for budding business enterprises to maintain effective communication.

Convey a Professional Business Image

Repeated breakdown in your communication system and improper call management can adversely affect your business image. Small business telephone systems offer organized call management and professional business communication. The enhanced communication experience that they offer would certainly attract more customers and enhance your sale leads and revenue. These phone systems come with high-tech call handling features including find-me/follow-me call forwarding, call conferencing, music on hold, voicemail, fax to email, voice to email and more.

The auto attendant receives calls in a professional manner and is programmed to transfer them to extensions, mailboxes, call queues, groups and conference rooms, as directed by the caller. The virtual receptionist manages several calls arriving at the same time with incredible efficiency.

Manage your Business from Distant Locations

Business establishments with more than one office and/or a mobile workforce benefit a lot from this small office telephone system. The advanced call forwarding feature routes calls to landline numbers or cell phones configured as extensions. Your business can be easily administered from other locations and you can stay connected to your clients and workforce all the time. Using a broadband connection like DSL, Cable or FIOS, your mobile workers can become an extension of your business PBX phone system.

Powerful Voicemail System

Modern small business telephone systems minimize the odds of missing calls and messages. Unanswered calls are instantly routed to the voicemail system, so that the callers can leave voice messages. This facility helps focus on core tasks without worrying about not taking customer calls during busy business hours. Voice messages are

Jul 18

Dead Sea Cosmetics for Your Home Business

The world today continues to evolve by the hour and the society is as demanding as ever. People have to work double or even triple jobs just to make ends meet for the family. Still, most find it difficult to provide everything that they need everyday, including food, clothing, shelter and education. Add to this the difficulty of finding a decent paying job that is commensurate to ones classification given that the competition is becoming very stiff with the addition of new batches of graduates every year. This should not disappoint anyone, however. Rather, one must be persevering enough to find a way by which to have a stable source of income. One of the most effective ways is by starting a business right in your own home. Imagine doing the bulk of the job right in the comfort of your home. You get to save money for operations and time, plus you still get to attend to the needs of your family. You can even have it along with your regular job so you can augment your income.

There are several products out there that you can get for your home business. Dead Sea cosmetics are one of the best as it is very easy to sell given the name that it has established through the years. Unlike with other brands, one who decides to start his own home business by selling Dead Sea products is given the chance to earn really huge profit. The company offers up to a 60% discount on all their products and the entrepreneur is given leeway to determine the price at which he wants to sell them. They can also make their own packages and promotional methods to lure buyers. Besides this, the company also ensures their full assistance, especially to those who are

Jul 14

Sap Business One Data Integration Via Odbc Queries

SAP B1 is open for external data integration, such technologies as EDI, Sales and Purchase Order Processing in partner networks through several tools. Assuming that you are small or mid-size business, likely that you would like to use free instruments, versus purchasing something comparable to your SAP BO software cost (iBolt for example). In this small publication we would like to review free SBO integrating methods: Data Transformation Workbench, SAP Business One SDK programming:

1.First of all we would like reassure you that in the integration you can go beyond simple Microsoft Excel templates filling up and saving them in CSV format. Instead you should think about flexibility of ODBC connection for SB1 Data Transformation Workbench or even direct manipulation of SAP Business One objects in SB1 SDK or Software Development Kit

2.ODBC connection in Data Transformation Workbench. SB1 DTW was intended for initial data conversion or ongoing data import to SAP Business One. You may also know that if you are using CSV files you can schedule DTW integration in Batch file. In this scenario, if you have external legacy Database: Oracle, DB2, Lotus Notes, Pervasive SQL, Ctree, Microsoft Access, or even tab delimited text file then using MS SQL Server Data Transformation Package you can reshape the export from your legacy application and save it into CSV templates to be imported in scheduled batch job. ODBC connection at this time is not supported for automatic scheduling by SB1 DTW. Instead, you can create SQL views, including cross-platform views (where data is pulled from non-Microsoft Database: PHP mySQL for example) and having simple DTW operator procedure import them on demand

3.SAP Business One EDI programming. If you are working in the small company, but you are at the same time reasonably technical, then you dont have to

Jul 13

Iphone Fake Shortage Dumb Business Move Of The Week

The new release of the iPhone happened this week.

Apple decided a long time ago to go with LG Display located in South Korea to manufacture the IPS-based Retina display. Apple knew full well that production capacity in this South Korean plant was only a fraction of the 4 million units they need produced per month. In fact, the South Korean company told Apple that they will need to build out production lines and that wouldn’t happen until late summer and perhaps even as late as December of 2010.

Therefore being conscious of the fact that this South Korea manufacturer was not up to essential capacity thus far, why would Apple decide to release the iPhone at the same time in the Japan, UK, US, France, and Germany? Why not slowly bring it to market country by country over some months?

The reason is that Apple wanted to generate an artificial shortage to leverage the marketing hype over the new iPhone 4. Jay Leno said it best, “Give a man a fish and he’ll eat for a day, teach a man to fish and he’ll eat for a lifetime, teach a man to create an artificial shortage and he’ll eat steak.”

However here’s where matters get thoroughly ridiculous.

Apple has worn out this identical tactic over and over again and most recently even for the iPhone 3 last year. Therefore customers are wise to the whole fake scarcity craze. But further than that, Apple does not have market exclusivity like they had last year.

Android based mobile phones continue to slash deep into the iPhone’s market share.

Google is currently activating 160,000 mobile phones using Android software each day or 4.8 million a month. The total amount is accelerating fast, having been set at 100,000 per day in the third week of May during Google’s annual conference.

Jul 12

Work at Home. Wholesale Business Opportunity

Start your own wholesale supplement business selling the highest quality herbal, vitamin, mineral and nutritional supplements.

Within every twenty four-hour period, millions of individuals around the world consume into his or her body, as much or as many as the hand will grasp of vitamins and/or natural herbs for the growth and good health of the body.

Milk Thistle is a tall plant that grows in many parts of the United States, Europe and South America. Although some places it is considered a wild plant growing in unwanted places, it is most commonly known, as many people believe, as a successful way of curing an illness. Broad or extensive amounts of Milk Thistle are consumed to treat liver and gall bladder problems, in addition to chronic hepatitis and acute viral hepatitis among other things. The history of the Milk Thistle plant stretches back to an earlier time of more than 2,000 years ago.

Vitamin E is taken to fight serious diseases that are caused when cells in the body grow in a way that is uncontrolled and not normal, killing normal cells and often causing death. There is a wealth of information available on the World Wide Web for research on many reasons why people take Vitamin E and many different types of natural supplements and vitamins.

Everyone needs vitamins. Vitamins are the key nutrients the body can’t make. In practically every home inside of a cabinet one can find vitamins or natural supplements. With this being true, along with the rising demand of the market of the selling of vitamins and herbal supplements, owning a wholesale supplement business can be very profitable.

Approximately seventy percent of American households buy vitamins. A yearly spending on vitamins and/or natural supplements reached seven billion dollars last year, according to figures created

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