How To Open A Bar/ Night Club: Your Comprehensive Guide!

No doubt, a bar or a night club can be a very profitable business idea considering that almost everyone needs a drink and an occasional place to unwind. However, you need to be aware that running a successful nightclub is just like running any other business venture and requires plenty of hard work coupled with a genius strategy. Continue Reading “How To Open A Bar/ Night Club: Your Comprehensive Guide!”

Advantages Of TV Advertisement – Time To Promote Your Product Or Service On TV

TV advertisement is seen as one of the most effective tool to promote a product or service yet it has both pros and cons. Generally it has much more pros than cons. Since most people around the world spend much of their time watching TV, TV advertisement should be seriously considered especially for medium to big-size businesses. According to research, most people spend their time at least 5 hours for watching television. TV advertisement is basically a combination of both audio and video which could make advertisement message more appealing  than advertisement on magazine, newspaper, or radio. We can say that TV advertisement is one of the mass media advertisement that must not be ignored.

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Start A Financial Planning Business (Service)

Are you good at making a financial planning? Have you ever thought of sharing your ideas or skill to anyone else? If so, you should start your business in the filed of financial planning, and be a financial planner. A financial services business generally consists of one or more financial consultants, who may also be financial planners, helping individuals plan their finances in light of their income and assets as well as for investments.

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Types of Liability Insurance for Small Business

Nowadays, running a business with uncertainties of management is becoming a noticeable problem and insurance for business is much needed.  Even though you are running a small business, you also need it in order to protect your business from any risks or losing that caused by accidents happen on site, off site, with employees or with customers. Liability insurance can protect your business from property damages caused by employees, and it also offers protection against any kind of situations that you haven’t thought about before. For instance, the owners of business themselves always face with many liability problem and these include medical expenses, attorney fees, damages, judgments, defense costs and much more. Your business is your everything so you have to protect it. If you run your business without insurance, your business can be gone anytime easily.

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Start A Frozen Food Manufacturing Business

Running a frozen food manufacturing business might not be easy for people who never experience it before. There are many important steps to follow and hours of research in order to make your business grow as well as be well-known. If you want to run a frozen food business, you need to be knowledgeable about how to preserve the frozen food. Continue Reading “Start A Frozen Food Manufacturing Business”

Start Your Own Car Delivery Business

Car delivery business is such a good and easy business to run since it requires only dedication and knowledge. A car delivery business means a moving service company that makes arrangements to pick up the vehicle, load it, and deliver it to the final destination upon a customer’s request. Being in the car delivery business, a company should know what ingredients make the recipe of success. To get started within this business, you need to have driving license and suitable insurance. Moreover, car delivery business can be undertaken on a full time or a part time at big or small scale, depending on how much time you effort and how much money you wish to invest in your business. Furthermore, there are two of the most important critical success factors that are required, and you must not look over. They are: reliability and affordability, and it means that what you will deliver and how you deliver it. Therefore, the steps below will be the good means for you to learn and succeed in your car delivery business: Continue Reading “Start Your Own Car Delivery Business”

How To Start A Successful Tour Company

Today, Life is about enjoying most of it and travelling could be a must for everyone. Every year there are millions of people going on vacation, visiting different places all around the world. According to the World Tourism Organization reports, the number of tourists has been growing very fast from year to year and they also book a tour. From business perspective, is a good idea to start a tour company and it’s never late to start it now. Continue Reading “How To Start A Successful Tour Company”

How to open Coffee Shop Successfully

Many people around the world are enjoying drinking coffee, so it must be a good chance for you to open a coffee shop. There are many reasons that motivate people to drink coffee, and they are what you should know before opening coffee shop. In order to be successful in your coffee business, you really need to know about some important steps as well as what to do in every process of your business. If you are a new businessman and want try a coffee shop, you should not overlook some steps below. Continue Reading “How to open Coffee Shop Successfully”

How to Start a Human Resources Management Business

Human resources management business is considered as a growing field and will go mainstream in the future. For some companies and organizations prefer to outsource their human resources management stuffs in order to reduce their costs and to get other benefits. Some businesses run as human resources consultancies who can provide services that help businesses to develop or streamline their human resources practices. Actually in order to run such a business, you need to understand clearly about the requirements as well as have a strong commitment. The following paragraph will be discussed about the requirement of running human resources management business, other important recommendation as well as some steps for motivating your business to be a successful one.

How to Start a Human Resources Management Business

A Short Introduction of  Human resources management business

A. About Human Resources Management

Human resource management (HRM, or simply HR) is the management of an organization’s workforce, or human resources. It is responsible for the attraction, selection, training, assessment, and rewarding of employees, while also overseeing organizational leadership and culture, and ensuring compliance with employment and labor laws. In circumstances where employees desire and are legally authorized to hold a collective bargaining agreement, HR will also serve as the company’s primary liaison with the employees’ representatives (usually a labor union).

HR is a product of the human relations movement of the early 20th century, when researchers began documenting ways of creating business value through the strategic management of the workforce. The function was initially dominated by transactional work such as payroll and benefits administration, but due to globalization, company consolidation, technological advancement, and further research, HR now focuses on strategic initiatives like mergers and acquisitions, talent management, succession planning, industrial and labor relations, and diversity and inclusion.

In startup companies, HR’s duties may be performed by trained professionals. In larger companies, an entire functional group is typically dedicated to the discipline, with staff specializing in various HR tasks and functional leadership engaging in strategic decision making across the business. To train practitioners for the profession, institutions of higher education, professional associations, and companies themselves have created programs of study dedicated explicitly to the duties of the function. Academic and practitioner organizations likewise seek to engage and further the field of HR, as evidenced by several field-specific publications.

Source: WikiPedia

B. Human Resources Management Business

Before, most of the companies have their own Human resources management office or department but today everything has changed. Human Resources management office or department costs the companies a lot and the companies try to cut down the cost. They started to outsource the Human Resources Management stuffs to other business that could handle it. This is the start of Human Resource Management Business. Human Resources Management business is growing and it’s good for those who are interested in launching this kind of business since the market is not yet overcrowded.

Starting Your Human resources management business

Starting up a business is challenging especially those who start particular business that requires a big amount of knowledge. To run a human resources management business, you need to follow some steps below:

Step 1: Get your degree first

You should have got or graduated with a degree in business with human resources management specialization. Anyway, being a Human resources professional capable of consulting or managing Human Resources Management business, your MBA might be needed.

Step 2. Get a Certification in Human Resources

You should also have taken an exam to get a certification from Institute of Human Resources. The certification should be included Professional in Human Resources and Global Professional in Human Resources.

Step 3. Start your own Company

You should create a particular legal entity for you own business. For example limited liability partnership that is complete with licenses and tax registration.

Index: What is Private limited company and its benefits?

Step 4. Get Insurance

Buy professional liability insurance for your business to protect yourself as well as your business from any un-expectable mistakes and un-predicted events.

Step 5. Build Network

Create a network of other Human Resource professionals who you might need to persuade to work with you in the future.

 

Step 6. Start Bigger

If you are looking to start as more than one-man operation, you should secure small business financing or investor.

Step 7. Define Your Target

Figure out which industries that you think they are the best for you. These may be based on the kinds of companies you’ve worked for in the past or perhaps industries that are dominant in your area. Whatever you choose, it’s important to narrow down to level at which you feel you can succeed.

Step 8. Market Your Business

Meet businesses you know which are looking to undertake a major HR initiative or which might be beneficial to you from outsourcing their HR functions. New businesses that may not be able to afford a full-time HR department may also be interested in your services.

Step 9. Following Up Clients

Develop proposals for the services you will provide as clients become interested. They’ll want to see exactly what doing business with you entails and how it will benefit them.

How to Open A Wholesale Liquor Business Successfully

Opening wholesale liquor business is very profitable yet you need to understand all aspects of it. The start of wholesale liquor business might be a little bit complicated but once you get this business running for a few months everything would be fine.

wholesale liquor business

Wholesale Liquor Business license

For many countries like in Africa, before beginning the wholesale liquor business or distribute liquor you are required to have liquor business license. Acquiring license is required by the law in order to strictly control the distribution of liquor products. If the liquor products are sold in the market without license they will be considered as breaking the law, and somehow your business could be suspended by the local authorities or professional institutions.  In order to avoid any problems related to the license, you need to hire a lawyer to organize and finalize your business documents to get the liquor license. Again, please be aware that without the license, you will be subject to fines.

Finding Wholesale Liquor Suppliers

Since you are running a wholesale liquor business, you have to seek the way to get those products first. You may have to do online research and decide to choose the supplier types such as manufacturers, distributors or importers. Choosing the right supplier will help you save a lot of money. Generally, make sure that you have compared the prices among several suppliers who could offer you the products you need. In addition to the points above, you are about to think of quality of the products as well. You may find a supplier that offers you top-shelf alcohols and liqueurs. Product quality and the price really matters to any business especially wholesale liquor business.

Advertisement Would Help Your Wholesale Liquor Business

Advertisement is seen as the best marketing tool to promote your liquor products. There are many kinds of advertising media out there you can start your advertisement campaign such as newspaper, magazine, outdoor advertising, broadcast advertising or public service advertising. Broadcast advertising seems to be more popular for many kinds of business not only liquor business. Some other wholesale liquor business owner consider using internet (Facebook, Google Adwords) to introduce their new liquor products to the costumers. How about you? What kind of advertisement are you going for?

Considering the Safety of Your Store

Besides getting the license and promoting you product or store, you also have to consider the safety of your store personnel and the security of your liquor store. Most wholesale liquor business  stores are one of the most targeted stores for crime. You need to consider with utmost care on how you are to protect your investment. Installing high-tech gadgetry and posting security personnel in and around your store are options you may want to enforce but being watchful is always the key to frustrate those who are most likely to attempt a hold-up or outright thievery.

Finding a Good Location

Placing your store at a good location is also considered as a main concept to make your business more profitable. High traffic area will feed your business much better than a quiet one especially for wholesale liquor business store like yours . It is all about supply & demand issue. The only disadvantage of high traffic area is that it will cost you more money to rent or to buy the property to open your store. If you go into an area that is not too busy then you will have to do a lot of local advertising. Once people know that you are there providing high quality and affordable products with a very good service, they will surely come for your store. People like to be served very well. Additionally, you have to try to avoid an area that is soaked with similar businesses.

What is Private limited company and its benefits?

Are you interested in starting a private limited company? It’s quite good to start operating this kind of company, but you might wonder a lot about what are the benefits from starting a private limited company. In this post we will discuss about what private limited company really is and its benefit to business itself, business owners, and the shareholders.  First we would like you to know the definition of the term.

private limited company

What is Private limited company?

A type of company that offers limited liability, or legal protection for its shareholders but that places certain restrictions on its ownership. These restrictions are defined in the company’s bylaws or regulations and are meant to prevent any hostile takeover attempt.

The major ownership restrictions are:

(1) shareholders cannot sell or transfer their shares without offering them first to other shareholders for purchase,

(2) shareholders cannot offer their shares to the general public over a stock exchange

(3) the number of shareholders cannot exceed a fixed figure (commonly 50).

An example of a limited liability company is Chrysler Group, LLC, whose ownership is separate from its management.

Source: businessdictionary

After knowing what Private Limited Company really is, I would like to move your attention to its benefits:

Limited liability

The first good things about  forming a limited private company is that when the company goes bankrupt, you ( ​​ if you are a company’s directors and shareholders) are required to pay only the amount of your shares you have in the company. For example, If you have purchased a share of 100,000$, your liability is limited to 100,000$ only, and only the assets of company will use to clear the debt. The creditors have no right to seize other properties besides the assets of the companies of the debtors. If the share is partially paid, then this can be required to pay only the unpaid value of the share. Unlike the unlimited company that has ‘unlimited liability’. If a business which is being carried on as a sole proprietorship or a partnership is not incorporated goes bankrupt, the proprietor or partners are personally liable for the debts of the business. The limited company offers the limited liability, as a result, many people are encouraged to invest in share of private limited company.

Tax advantages

Normally, private limited companies can have one or more shareholders. They cannot offer shares to the public. The business owners would enjoy paying the lower tax, because based on the law, sole trader and partnerships pay income tax and company pay corporation tax on their taxable profits. There is a wider range of allowances and tax deductible costs that can be offset against a company’s profits.

Business Continuity

Private limited company can enjoy permanent succession, because the company is private legal entity.  When a company is incorporated, it becomes a separate legal automatically. Employees and shareholders are just the agents of your company, so if they leave it doesn’t have any effects on your company or existent costumers.  More Companies and more companies has a degree of continuity and allow a number of different persons to participate as directors or shareholders.  A company continues to exist as a separate entity, and is not terminated or dissolved even when shareholders die or sell their shares which are an advantage over a traditional partnership.

Social benefits

Private limited company has some social benefits which should also be mentioned. Large resources of the companies allow large scale production so that they could enjoy number of economies which enable production at low cost, generate more sales and sure more profits. The society is automatically supplied with low cost yet high quality goods.