According to Intuit's Just Start survey, 72% of Americans dream about starting their own business. This is an interesting, but not surprising statistics since it goes along with the general entrepreneurial culture in this country. With the New Year upon us, many people have made their resolutions to bring their small business dream into reality this year. What are the main choices that they have?
There are three main ways: start from scratch, buy a franchise or buy an existing company. Each one of these options has its advantages and disadvantages that we review below.
Start from Scratch This is a perfect choice for someone that has a business idea and is prepared to work through the startup stages of the business including initial setup, establishing customer base, putting in place a business operating model, and brining to life your own marketing plan. This is an exciting option for someone who doesn't like to report to a franchisor organization, even though you would be wrong to believe that you would be your own boss. Your customers will actually become your bosses as you answer to their demands and try to satisfy their wishes.
This is one of the riskiest ways to start a new business, but the success could be quite gratifying. Your business model options are wide-open: are you looking for a home-based business, a retail store, an internet business, a service company - the choice is yours! On the downside, you have to be sure that you have the discipline to start a business. In many cases it's better to partner up with someone you know. Obtaining business financing for a startup business might be tougher than for the other options, but if you have previous management or business ownership experience, good credit, a sizable cash injection and some additional collateral, you should be in a good shape.
Buy a Franchise Buying a franchise is an excellent way to build on a known business model. If you would like to minimize the start-up related items and would rather focus on running a business, franchise might be the best choice for you. By buying a franchise, you typically get consumer name recognition and support from your franchisor that is very important when you are just starting. Your chances of success are definitely higher with a franchise since in most cases it has been tested by other franchisees and have a national or regional marketing program.
Many mistakenly think that if they decide to go with a franchise, their choices will be extremely limited to just a few industries. However, today franchises are available in all imaginable industries from cleaning and food services to tutoring and auto shops. On the downside, you will have to pay a franchise fee, royalties, follow the system and answer to your franchisor. However, franchise fee and royalties are a cost of doing business and a fee for training you will receive. Following a system and answering to someone might be appealing to many entrepreneurs. Additionally, obtaining business financing might be easier for a franchise than for a startup company, and that might be an important consideration for many.
Buy an Existing Company Buying an existing company or an existing franchise is a great solutions for people that would like to build there success by avoiding all the issues that startup companies face including building an initial customer base, setting up operations, establishing vendor/supplier relationships, and many others. You certainly have to be careful when looking at an existing company and the reasons they are being sold. Get as much information about the industry and the trends to understand how to maintain and grow the company. One drawback is that it might take you some time to find the right company, so you have to be patient to do research and analyze potential candidates. It might be a good idea to seek professional assistance in analyzing your target company's financials if you do not have a strong financial background.
Clearly each path you take in starting a business has its advantages and disadvantages that have to be carefully weighted against your personal preferences, experience, and financial capabilities. Whichever path you take, you have to be prepared for an exciting time in your life. Make sure you get support of your family and friends and enjoy your road to success!
A Notary Signing Agent is a Notary Public who has acquired a familiarity and understanding of mortgage loan documents either via experience or training. This individual will work as either is hired as an independent contractor for signing agencies, or as a self-employed person receiving assignment through his/her own marketing and advertising efforts.
The job consist of ensuring that real estate loan documents are properly executed by the borrower(s), notarized, and returned promptly for processing to the title or escrow officer. This is an important and vital service for borrowers and closing agents, without which a mortgage loan transaction would not be able to be consummated.
The Statue of Frauds and the Patriotic Act seek to maintain integrity of a signer's signature to authenticate a document, and to identify the borrower for tax reporting and anti-money laundering regulation. This is significantly role for a notary very important, now that so many more transactions are being conducted online or by telephone.
A Notary Signing Agent will travel to the customers home or office at their convenience to execute loan documents instead of having the borrower interrupt their busy schedule to drive to a the title company, or escrow agent's office.
This convenience allows all parties to the transaction be more productive and in any cases reduce the settlement cost. Closing agents have discover this is a much preferred means of doing business, allowing the borrower to review the documents in the privacy of their home or office while increasing the volume of loan a closing agency can handle.
Your primary duties will include: answering phones, customer service, some filing, notarizing documents, networking and marketing your services. You will be required to pass a test or exam sponsored by your state's governing agency to obtain a certificate or commission. At times being a Notary Signing Agent can be fast-paced and require flexibility and patience.
To really be highly successful as a Notary Signing Agent you must be reliable, honest, willing to learn, a good communicator, work well with others, enjoy dealing with people, and be somewhat computer literate. Being multi-lingual is a great advantage, as it increases the population of people you can serve.
One of the biggest challenges beginning Loan Signing Agents face in getting their business up and running is marketing. There are just too many tasks involved in setting-up, managing and marketing a new business. The list of tasks seems daunting and never-ending.
This is what stops most beginners, the amount of time, energy and effort and needed to develop the business and start getting regular clients that pay well and promptly. One of the easiest ways to get your practice off to a good start is to promote your service online through a high-traffic notary portal. Title, insurance, mortgage lenders, medical related industries, traffic schools, auto dealers, bails agents and the general public depend on these sites to find notaries daily for loan signings and other general notarial related work.
This is the quick means to marketing your notary practice and giving your business a jumpstart, while you work to develop long-term business relationships. Plus you get a webpage as part of the price.
Both Tiana Nelson & Mistymin are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Tiana Nelson has sinced written about articles on various topics from Data Recovery, Small Business and Business Loans. Tiana Nelson, CMA, CFM is a Business Development Officer at , a Better Business Bureau accredited business finance consulting company that. Tiana Nelson's top article generates over 6600 views. to your Favourites.
Mistymin has sinced written about articles on various topics from Wedding Invitation Ideas, Family and Free Credit Report Score. can help you find a notary anywhere. Also find out more about becoming a notary or if you are a notary you can. Mistymin's top article generates over 90500 views. to your Favourites.