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Preparing to Apply for a Commercial Loan? Pointers and Strategies to help You Decide Better

With so many choices accessible, possible commercial loan borrowers might end up confused as to which commercial loans will best fit their needs, or worse, enter into agreements with no idea of what they are getting into, jeopardizing their and their business’s future because of it.

To help prospective commercial loan borrowers become much better informed, here’s a list of pointers and strategies to consider before committing to something pertaining to a commercial loan.

Know What Your Needs Are. Before anything else, know what your company needs are, how much is needed, and how much the business can basically afford to pay. Then continue by asking what is most important to you personally and the company in regards to a commercial loan. Is it low interest? Is it flexibility in paying principal and interest? Is it the length of the term? Use all of these elements to form the basis for which commercial loan options you would like to look at and which you want to avoid.

Consider all Lenders. Do extensive research on the distinctive types of commercial lenders out there. Find out as much as you can about all the commercial lenders within your area, and ask other company owners who they have had a great experience with. However, always keep in mind no two commercial loan relationships are the same, and just because a commercial lender was able to do something for your friend’s business, does not mean they are the ideal lender for your business or even capable of producing your commercial loan.

Compare loans. The surest and safest way to discover the ideal commercial loan suited for you is to compare many commercial loan options that are being offered in the industry. Make a table or chart if you have the time, and compare the different interest rates, terms, flexibility, and other aspects important to you between multiple commercial lenders.

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Look at all the characteristics of a commercial loan. When you are analyzing the features of a commercial loan, make sure to look beyond the interest rate, term and amortization. You will find also many characteristics offered aside from the interet rate, and these features can have a huge effect on your business. Such features may include borrowing restrictions, covenants, or other financial responsibilities your company might need to meet in exchange for taking that commercial loan.

Talk to people. It’s going to be wise to ask people, particularly those close to you, as well as other businesspeople, about their individual experiences and knowledge on commercial loans and lenders.

Find a commercial loan that Best suits you. There will be a lot of commercial loans to choose from. Surely there will be characteristics from each that would interest you. But weighing these selections and features very carefully, and decide on the ideal choice for your business more than the long run is what’s most significant.
Get the best service. Be sure that your commercial lender will be quick and give you a good level of service.

Look beyond low rates because there’s more to it than “meets the eye”. When considering a loan package or scheme, look at the ongoing rates too, as these will probably be the rates that you will need to pay for the majority of your commercial loan.

Look at all characteristics in each commercial loan package, and select only the one whose features you definitely intend to use. Commercial lenders will always supply as many characteristics as they can to capture the biggest market. If there is a commercial loan that presents a range of features which you don’t plan on using, then don’t get that commercial loan.

Always be Cautious. Always proceed based on what’s within your and your business’s best interest, and don’t usually trust your commercial lender to be doing the exact same. Commercial lenders have their own interests too! To be safe, choose a commercial lender who has ethical and good reputation.

Be vigilant when it comes to lines of credit. The flexible payment structure might tempt you to utilize a line of credit when you really don’t need to. Remember, no debt is always better than any amount of debt, so try to only utilize your line of credit when you need it and pay it down as often as you could.

Speak to your lender. When thinking about refinancing a commercial loan, be sure to discuss it together with your existing commercial lender. They might give you a better deal and in so doing, retain you as their customer.

There are lots of points to consider when finding a commercial loan, and making the right decision and picking the best commercial lender is not easy. Hopefully the above tips will help put it in perspective for you and help you and your business get off on the right track.

More Commercial Loans Articles

Tags: Apply, Better, Commercial, Decide, Help, Loan, Pointers, Preparing, Strategies

Ashes or $1m – Collingwood Can’t Decide

Would Paul Collingwood prefer to win the Ashes next summer or the Stanford Twenty20 Challenge in Antigua, which would immediately make him $1m richer? He was candid enough to tell it as it is. “I can’t honestly say,” he admitted.

England’s $20m match against the Stanford All Stars in November, the first of five annual winner-takes-all matches, has thrown the game out of kilter. Collingwood, England’s one-day captain, should be congratulated, not condemned, for his brave admission that there is no logic anymore.

“That is what is scary about the whole situation,” Collingwood said. “It is not the World Cup, not the Ashes, not what you dream about as a kid. It is just about money. None of us have been in this position before. Somehow you have to get Test cricket as lucrative as this because the maths don’t really add up at the moment. The ICC really has to nail this down, but it is going to be nigh-on impossible to do that.”

No sport can afford to shun billionaire philanthropists with basically good intentions – and both West Indies cricket and English cricket will benefit from Sir Allen Stanford’s largesse – but neither can any sport afford to ignore the potential dislocation that Stanford Twenty20 will bring.

It will take a cricketer with deep respect for the game’s traditions and values to recognize that Test cricket must remain sacrosanct; it will take a cricketer of formidable integrity always to play unselfishly for the sake of the team rather than protect their own place; and it will take a cricketer of immense fair-mindedness to accept without complaint a decision to drop them for the Stanford Twenty20 and remove their chance of $1m at a stroke. Angus Fraser was recalling today that he was once dropped by England because of “a gut feeling”. Explanations may have to be a little more detailed than that.

Collingwood is no fly-by-night cricketer, but a man repeatedly praised for his dedication. He at least has the decency to admit to being confused and to wonder where it will all end. “In many ways it is a bit uncomfortable,” he said. “It is exciting and it has a lot of positives. From a youngster’s point of view, I am sure the participation in sport will grow.

“But I grew up wanting to win the Ashes and the World Cup. Nothing could come close to that. It took everybody’s imagination. It was compelling. You can’t lose Test cricket. I don’t think it is a problem in England, where Test cricket is still loved, but it is a problem in places like India and Pakistan.

“It is scary to think that people might grow up just wanting to play Twenty20 cricket. When they can get big money for a one-off game or be away from home for four months for an Ashes series for much less money there is no question which they are going to go for.

“I still think there is enough pride in Test cricket for players to want to succeed. In my generation that is the thing we grew up to play. Now it is the next generation. We have to give them the incentive to continue to play Test cricket.”

Friday’s sell-out NatWest International Twenty20 between England and New Zealand, to be followed by five ODIs, suddenly seems a little prosaic. NatWest, one of cricket’s loyalist sponsors, have put up – don’t gasp – £7,000 for the winners and, in view of the credit crunch, they are lucky to get that.

Twenty20 internationals have moved on at a frightening pace since Kevin Pietersen lightly dismissed a batting error as “silly shots for silly games”. “We only have three warm-up games leading up to the Stanford match and I am sure that everybody wants a spot,” Collingwood said. “What we want is for everybody to play well for England. I don’t think it will affect our team spirit, and you would hope that everyone will be honest with themselves. We all have roles to play and hopefully everyone will stick to those roles and go about it as if the money wasn’t there. If somebody was selfish it would be very hard to spot it.”

Tags: Ashes, Can't, Collingwood, Decide

Business Opportunity vs. Franchise – Which Is Right For You? You Decide

Then comes the tough decision of what to do. Do they start their own business? Run a Franchise? Work for someone else? What’s the right thing to do? It’s easier than you think when armed with the right information and we hope to provide that. We’ll explore the differences between business opportunities and franchises, and give you examples of how this can help you achieve your dream of working from home.

The best description we found for the differences between a business opportunity and franchise can be found in Business Expert Priscilla Huff’s book, Make Your Business Survive and Thrive. In her book, Huff states, “Generally, an owner starts a business opportunity by putting together an operational manual, business forms, and other materials and then sells the package to other entrepreneurs to get them started in the business. There are no franchise fees. These are smaller operations and more affordable than franchises.”

You can do an internet search on Google or Yahoo for business opportunities and get an idea of just how many opportunities are available. The key is to find legitimate ones and ones that offer all the benefits that Huff recommends.

A franchise on the other hand is different. In Huff’s book she describes a franchise as, “A franchise is a business opportunity in which the franchisee pays a company for the right to sell and distribute its products or services and uses its trademark and trade name. Franchisees pay an initial franchise fee, and there may or may not be ongoing royalty fees, advertising costs, or mandatory costs of purchasing the company’s supplies to operate the franchise. A franchisee has to follow the company’s procedures, and the total cost may reach thousands of dollars.”

Go ahead and do the same Google search and see how many franchise opportunities are available? You are sure to recognize familiar names when you do this.

Both types of businesses work. It all depends on what you are looking for and what best suits your skills and experience.

One business opportunity that is growing in popularly today is that of starting a home-based tutoring referral business. In June of 2002, Laurie Hurley of Newbury Park, CA opened such a company, providing private one-on-one tutoring. Little did she know at the time that her small home-based business would produce a lucrative six-figure income just three years after launching it. By June of 2005, Hurley decided to market her idea nationwide and assemble all of the ingredients she used to become successful. She packaged it, created another website and sold via the internet. Hurley hoped to attract people like herself, ex-Corporate executives who wanted out of the traditional work environment; people who wanted to control their own destiny and still make a good living. Much to her surprise, not only did Corporate people call and inquire, but so did teachers, bankers, nurses, and financial advisors, individuals that had or were going to be down-sized or laid off. Many of the phone calls coming in were referencing a popular in-home tutoring franchise that was asking about $25K for the same program Hurley was selling, but literally at a fraction of their asking price. Having once been a franchise owner, Hurley was more than delighted to highlight the differences and Home Tutoring Business, www.hometutoringbusiness.com was born.

Hurley’s business model is a business opportunity as opposed to a franchise. Here are some basic differences:

Price – The biggest selling point in a business opportunity via franchise. As stated, In Hurley’s example her packages cost less than $3000, whereas some franchises can cost upwards of $25,000 or more. In today’s economically challenging times, that makes a big difference. With gas over $4.00 gallon in most of the country, record layoffs in the educational industry, mortgage industry, and real estate fields, thousands of talented, driven people find themselves without a job and usually a family to support. Even stay-at-home moms are looking for a way to contribute to the family income. Therefore, price is absolutely a contributing factor for many in determining the business they wish to start.

According to Sean McCusker, owner of Get Connected Tutoring in the greater Portland, Oregon area, “I decided to start a home tutoring business because I had just graduated with a Masters degree and the prospect of a job in my specialty field wouldn’t be worth the pay. I would also be giving up seeing my two small children grow up and that would mean missing a lot.” Sean and his wife decided that being home-based with no overhead and no employees was the way to make a living and give back to their community.

Your Own Terroritory – Business opportunities normally don’t have a specific territory. This can be a big contributing factor in determining what is right for you, especially with the growth in the Internet, and the ability to market globally. Most business opportunities don’t have defined territories and buyers are free to work as large or small of an area of their choosing. As an example, Jeff Bibler in the San Diego area started a tutoring service, Better Report Card Tutors that covers the San Diego and the outlying suburbs of Encinitas, Carlsbad, Oceanside and other cities which accounts for about 2.5 million people. That’s a lot of territory. Franchises offer a limited territory, charging extra for a bigger geographical area. A franchise would let one work that large of an area, but the price would be considerably higher than their initial asking price.

Support – Franchises rarely provide on-going support. Once you buy, you are basically on your own or can call into a call-center where an operator or someone in one of the many “departments” will answer your question, sometimes the next day. When one is starting out, questions arise all the time and having the ability to have someone to answer those questions is priceless. Business opportunities offer ongoing support and usually on a more personalized basis.

Cathy Hogg, Owner of Beyond The Books Tutoring in Middlesex County, New Jersey puts it like this, “Laurie Hurley had several years of experience that could support me in starting up a new business. I knew that she could guide me to being successful and help me avoid the mistakes that could have happened if I did this myself. ” That’s the kind of support most are looking for when starting their own businesses.

Royalties – Contracts – Business Opportunities normally do not collect royalties or involve any purchasing contracts. A franchise almost always charges a percent of gross monthly income; anywhere from 3-15%. Additionally, most business opportunities don’t require a contract, nothing needs to be signed, and one is not bound by a complicated set of legal rules and regulations.

Business opportunities often provide additional features. For example Hurley’s package provides a personal, professional website to every buyer. The site is not a corporate site, it is a customized site that reflects the buyer’s company name, cities and school districts serviced. A franchise uses one corporate site with possibly a list of where the franchises are located and a contact number. Having an interactive website of one’s own where customers can contact the owner of the company, is a big plus and adds up to more sales.

These are the main differences between a business opportunity and a franchise. If you would like additional information, stop by the Home Tutoring Business site at http://www.hometutoringbusiness.com and see a business opportunity in action.

Tags: Business, Decide, Franchise, Opportunity, Right

Four Essentials to Help You Decide Between Renting or Buying

Owning a home is one of the great resulting products of the American dream. Part of having freedom, and the right to life, liberty, and the pursuit of happiness is being able to call objects that are the foundation of comfort and security one’s own. When an individual owns a home, they are given a strong sense of independence, security, and self entitlement. When one is renting, they write out a monthly rent check usually for as much or more of the amount they would be spending on their own mortgage. Writing a rent check out to pay for someone else’s increase in equity in the home they own can often be a frustrating experience. Why then, would anyone want to rent when owning is a possible option. Believe it or not, there are quite a few scenarios where renting is advantageous. The here are four discussion principles that hopefully will answer this question.

The first principle is the tax deduction verse closing cost. A homeowner does have the grand government gift of getting many of their expenses paid for. For example, a homeowner can deduct the amount of interest they pay on their monthly mortgage payment, they can deduct personal and real estate property taxes and a few other interest expense write offs. On the other hand, a home comes with a ton of closing costs. When an individual closes on a home, they will incur a myriad of costs associated with taking out a loan. These costs can quickly add up to more than two percent of the home. A home owner also has to take into account the fix up costs. When renting, the closing costs are non-excitant and the fix-ups all belong to the land owner. If the interest rates are even remotely high, then it could take several years for a homeowner to make up the closing costs.

The second principle to take into account is the costs associated with insurance and taxes. A renter will have neither to pay, a home owner has both. When homes close a escrow account is formed where every month the lender will collect payments and put them into a fund to pay the yearly insurance and tax payment. This can come to a hefty monthly load.

The third principle is the increase or decrease in the home price market. Traditionally, those who have owned a home have never been disappointed by a loss in appreciation for home markets. More recently, the nation experience a crises and the home prices plunged leaving many Americans under water. In times when the home prices are slowly and steadily growing, home ownership always pays off, whereas if they grow too fast and are sure to crash, one might actually consider selling and then renting for a while.

The final bullet point is freedom. When one is renting they are free to leave quicker, with almost a fraction of the hassle. If a school or neighborhood is going downhill fast, then the renter can move. If the job market is unstable, then renting will be much more advantageous than buying because of the high possibility of moving.

All said and done, if one is planning on living in the same spot for a while, then buying is probably the better option.

Tags: Between, Buying, Decide, Essentials, Four, Help, Renting

Home Loan Refinance : How To Decide When You Should Apply One

Why should I apply?

There are many reasons to apply for a home loan refinance, although some are not good reasons. The main good reason is to reduce the amount of interest payment during the balance of the loan term. However, another primary reason why homeowners choose to get a new loan on their home is to free up ready cash either through the equity in the house, or through paying off credit card loan or other high interest payment. Usually a home loan is requested when the homeowner has need of a significant amount of money either on short notice, or over the next weeks or months.

What will it cost?

The loan fees will vary depending upon the type of loan, the broker and the interest rate. There is also the factor of your credit score that can impact the interest rates you will be charged. Typically, the better credit score you have, the lower the interest rates and thus the fees associated with obtaining the loan. When determining the home loan refinance package that you accept, make sure that you don’t allow lenders to do multiple credit score pulls from the credit bureau, as that can lower your credit score significantly. Another factor to review is how much of the loan fees are being rolled into the loan and thus will require you to pay interest over the term of the loan.

What can I use the loan proceeds for?

When you obtain a home loan refinance, the cash you receive, or make available through an equity account can be used to pay for almost anything you wish. However, most homeowners are wise enough to only take out a loan for the purpose of bettering their financial position. Perhaps they need to pay for college debts or prepare for upcoming educational costs. They make take out the loan in order to remodel the home. Sometimes a home loan is obtained to pay off credit card debt and use the money saved for other purposes. Another common use for a refinance loan is to pay for large medical bills.

Things to avoid in a refinance

In a time of increasing economic stress in the United States, many homeowners are refinancing homes because they can’t afford the original payments. A home loan refinance can be obtained that will lower your monthly mortgage payment, but caution should be exercised that you are not just placing a band-aid on a mortal wound. Don’t use a refinance loan to stave off a pending foreclosure or bankruptcy, unless by doing so you can significantly improve your personal financial picture.

Benefits of a refinance loan

The benefits of a refinance loan are numerous, but the primary reason for obtaining a home loan refinance is to obtain cash for needed payments, repairs, renovations or projects. Indirectly, a loan such as this can also be used to reduce payments in interest for either credit card debt or for the home mortgage as well. The loan can also be used to reduce monthly payments. Each of these benefits is arrived at in different ways and with a different loan structure.

For the best resources combined into one web site, be sure to visit Home Loan Refinance or Home Loan on the internet. You can locate the best tips, cautions, links and information on the subject of home refinancing.

Tags: Apply, Decide, Home, Loan, Refinance, Should

A Guide For Helping You To Decide Where To Go To College

If you are leaving high school soon and want to take a college education, you have probably already wondered where to go to college. This is a question every student have to sort out. Planning for college can be a great activity, and even in advance of your college planning your should have an idea of where you want to go to college. Below, I have given you some options to consider. Be especially aware of the location of these colleges as well as what they can offer you.

USC or University of Southern California, also known as the University of Spoiled Children! Nevertheless, this college offers some of the best academics on the west coast and is really exceptional.

Vanderbilt University located in Nashwille Tennessee is still among the most prestigious schools in the country and offers south state charms within a big city while giving students the best education money can buy.

Virginia Tech is certainly a crown jewel. Their football quarterback may not exhibit the traditions of Virginia Tech but Michael Vick’s little brother isn’t indicative of the student body as a whole.

Yale University is located in New Haven, Conneticut is another great Ivy League school which will always be at the top of the top. Yale and Harvard most often compete for the same students and athletes so if you have your choice-this will be a tough decision!

The college options listed above are some simple choices for a great education. There are so many schools and higher education institutions in our country that you just need to decide where your heart lies and follow it. However, the major questions you should ask are :

- is it important to go to an Ivy League school?
- preferred geographical location: East, west, midwest,south etc.
- what do you want to major in?
- how do you want to use your major?
and so on.

Nic Haffner is a publisher of top colleges in USA articles. For more information, go to top colleges in America.

Tags: College, Decide, Guide, Helping

Commercial loans or equity capital – Decide carefully

Business funding is crucial for the success of your business endeavours. You cannot afford to go wrong in selecting the type of funding that is fit according to the business circumstances and requirements. As we know that there are various types of business models and they all have different requirements. There cannot be a universal source of funding that can be related to all business models.

Sole proprietors are known to face most financial difficulties in arranging for the business funds since they do not have all the resources at their disposal. Even borrowing amount has got limitations as only one person’s credibility and borrowing power is involved. Next expansive stage comes when few people join and form a partnership business. This type of business can raise relatively large amount of money.

In case of body corporate, the equity funding is often resorted to. This type of funding means that public in general is invited to contribute in the form of shareholding, and as a result, a large amount of money can be raised under this method. Contrary to that, there is debt funding or commercial loans meant to augment the business resources and push you on the way to growth. Debt carries the burden of monthly instalments, interest rates, strict terms and conditions, etc., whether or not you have positive cash flow. Therefore, you should be little careful when deciding for the source of finance.

Suitability factor has to be kept in mind when selecting the type of funding source. Obviously, a small business in its nascent stage cannot afford to go for a public issue of shares and stock. Even otherwise, as the business expands, equity holders expect more say in the day to day operations of the company. These people invest on the gamble of very high returns. Commercial loans, on the other hand, are usually available to all types of businesses – small or big, new or old. But, equity funding is suitable to businesses where there is a very high growth potential.

Commercial loans as available with the UK lenders are really convenient for small to medium-sized businesses. These loans can be used for end numbers of business requirements. If you are ready to secure these loans by offering some property, you can raise upto £250,000. You can compare secured loans as available with different lenders so that you can get the best cheap deal for your business. These loans are available on the Internet and there are many lenders that accept and process your loan application in a very quick time. As business needs are always urgent, therefore, applying through online medium is a better option.

For more information about loans: Debt Management, loans for debts, Personal Loan for the Unemployed

Tags: Capital, carefully, Commercial, Decide, equity, Loans

Business Opportunity vs. Franchise – Which Is Right For You? You Decide

Then comes the tough decision of what to do. Do they start their own business? Run a Franchise? Work for someone else? What’s the right thing to do? It’s easier than you think when armed with the right information and we hope to provide that. We’ll explore the differences between business opportunities and franchises, and give you examples of how this can help you achieve your dream of working from home.

The best description we found for the differences between a business opportunity and franchise can be found in Business Expert Priscilla Huff’s book, Make Your Business Survive and Thrive. In her book, Huff states, “Generally, an owner starts a business opportunity by putting together an operational manual, business forms, and other materials and then sells the package to other entrepreneurs to get them started in the business. There are no franchise fees. These are smaller operations and more affordable than franchises.”

You can do an internet search on Google or Yahoo for business opportunities and get an idea of just how many opportunities are available. The key is to find legitimate ones and ones that offer all the benefits that Huff recommends.

A franchise on the other hand is different. In Huff’s book she describes a franchise as, “A franchise is a business opportunity in which the franchisee pays a company for the right to sell and distribute its products or services and uses its trademark and trade name. Franchisees pay an initial franchise fee, and there may or may not be ongoing royalty fees, advertising costs, or mandatory costs of purchasing the company’s supplies to operate the franchise. A franchisee has to follow the company’s procedures, and the total cost may reach thousands of dollars.”

Go ahead and do the same Google search and see how many franchise opportunities are available? You are sure to recognize familiar names when you do this.

Both types of businesses work. It all depends on what you are looking for and what best suits your skills and experience.

One business opportunity that is growing in popularly today is that of starting a home-based tutoring referral business. In June of 2002, Laurie Hurley of Newbury Park, CA opened such a company, providing private one-on-one tutoring. Little did she know at the time that her small home-based business would produce a lucrative six-figure income just three years after launching it. By June of 2005, Hurley decided to market her idea nationwide and assemble all of the ingredients she used to become successful. She packaged it, created another website and sold via the internet. Hurley hoped to attract people like herself, ex-Corporate executives who wanted out of the traditional work environment; people who wanted to control their own destiny and still make a good living. Much to her surprise, not only did Corporate people call and inquire, but so did teachers, bankers, nurses, and financial advisors, individuals that had or were going to be down-sized or laid off. Many of the phone calls coming in were referencing a popular in-home tutoring franchise that was asking about $25K for the same program Hurley was selling, but literally at a fraction of their asking price. Having once been a franchise owner, Hurley was more than delighted to highlight the differences and Home Tutoring Business, www.hometutoringbusiness.com was born.

Hurley’s business model is a business opportunity as opposed to a franchise. Here are some basic differences:

Price – The biggest selling point in a business opportunity via franchise. As stated, In Hurley’s example her packages cost less than $3000, whereas some franchises can cost upwards of $25,000 or more. In today’s economically challenging times, that makes a big difference. With gas over $4.00 gallon in most of the country, record layoffs in the educational industry, mortgage industry, and real estate fields, thousands of talented, driven people find themselves without a job and usually a family to support. Even stay-at-home moms are looking for a way to contribute to the family income. Therefore, price is absolutely a contributing factor for many in determining the business they wish to start.

According to Sean McCusker, owner of Get Connected Tutoring in the greater Portland, Oregon area, “I decided to start a home tutoring business because I had just graduated with a Masters degree and the prospect of a job in my specialty field wouldn’t be worth the pay. I would also be giving up seeing my two small children grow up and that would mean missing a lot.” Sean and his wife decided that being home-based with no overhead and no employees was the way to make a living and give back to their community.

Your Own Terroritory – Business opportunities normally don’t have a specific territory. This can be a big contributing factor in determining what is right for you, especially with the growth in the Internet, and the ability to market globally. Most business opportunities don’t have defined territories and buyers are free to work as large or small of an area of their choosing. As an example, Jeff Bibler in the San Diego area started a tutoring service, Better Report Card Tutors that covers the San Diego and the outlying suburbs of Encinitas, Carlsbad, Oceanside and other cities which accounts for about 2.5 million people. That’s a lot of territory. Franchises offer a limited territory, charging extra for a bigger geographical area. A franchise would let one work that large of an area, but the price would be considerably higher than their initial asking price.

Support – Franchises rarely provide on-going support. Once you buy, you are basically on your own or can call into a call-center where an operator or someone in one of the many “departments” will answer your question, sometimes the next day. When one is starting out, questions arise all the time and having the ability to have someone to answer those questions is priceless. Business opportunities offer ongoing support and usually on a more personalized basis.

Cathy Hogg, Owner of Beyond The Books Tutoring in Middlesex County, New Jersey puts it like this, “Laurie Hurley had several years of experience that could support me in starting up a new business. I knew that she could guide me to being successful and help me avoid the mistakes that could have happened if I did this myself. ” That’s the kind of support most are looking for when starting their own businesses.

Royalties – Contracts – Business Opportunities normally do not collect royalties or involve any purchasing contracts. A franchise almost always charges a percent of gross monthly income; anywhere from 3-15%. Additionally, most business opportunities don’t require a contract, nothing needs to be signed, and one is not bound by a complicated set of legal rules and regulations.

Business opportunities often provide additional features. For example Hurley’s package provides a personal, professional website to every buyer. The site is not a corporate site, it is a customized site that reflects the buyer’s company name, cities and school districts serviced. A franchise uses one corporate site with possibly a list of where the franchises are located and a contact number. Having an interactive website of one’s own where customers can contact the owner of the company, is a big plus and adds up to more sales.

These are the main differences between a business opportunity and a franchise. If you would like additional information, stop by the Home Tutoring Business site at http://www.hometutoringbusiness.com and see a business opportunity in action.

Tags: Business, Decide, Franchise, Opportunity, Right