Scooter-Bike Combo
The Kid Balance converts from scooter to bicycle and back again, so that a child can start out scootering and grow into cycling. Conversion from one vehicle to the other is simple.
The Kid Balance converts from scooter to bicycle and back again, so that a child can start out scootering and grow into cycling. Conversion from one vehicle to the other is simple.
Stylish Product Scanner for Blind Shoppers
Info Jewelry identifies products on store shelves buy scanning the bar code and relaying the product information to the user's ear. In addition, the ear phones look like jewelry.
Testing Architectural Designs Virtually
To learn more about how occupants and visitors will respond to a building, the neurologists and architects designing StarCave have created a way to examine people as they navigate simulated versions of those buildings.
Staple-Free Staple
Eco-Friendly 3-in-1 Jacket
Thiswater repellent, fleece-lined jacket, called the Xip3, quickly converts into a backpack or a pillow. Made from a fast-drying, highly breathable fabric, it also has an eco-friendly fleece lining made of post-consumer PET recycled polyester.
Visit: http://gurumia.com/
Heart Sling
Clinical studies have begun on a non invasive 'heart sling' to treat mitral valve regurgitation.Mardil Inc. has been working on the BACE (Basal Annuloplasty of the Cardia Externally) device since 2004. The BACE encircles the heart and uses saline filled chambers to provide adjustable pressure to the heart's wall, helping the mitral valve to close properly.
Although not yet available, a previous study has indicated improved mitral valve function in patients.
Vacuum Travel
By eliminating virtually all friction, the Evacuated Tube Transport could conceivably transport people from New York to Beijing in 2 hours.Referred to as "Space Travel on Earth" by the designers, the ETT human transport system works with passenger capsules traveling on frictionless maglev within vacuum tubes. Electric motors accelerate the capsules, which then coast through the vacuum using no extra power.
Space Elevator
A team from King's College London believes that advances in carbon nanotubes could make it possible to create a tether strong enough to reach over 22,000 miles into space.The concept of a 'space elevator' has been around as far back as 1895, but the reality has not been possible because there was no known material strong enough to support such a structure. Mark Miodownik of King's College London believes that carbon nanotubes could be the solution. Less than 1/50,000 the width of a hair, carbon nanotubes wound together to the width of a thread can support the weight of a car.
NASA has earmarked $3 million dollars to research the idea.
Images © FlyingSinger/Flickr
Food Printer
Scientists at Cornell University are developing a 3D food printer, which will print foods through syringes filled with 'food inks'.
Part of the the Fab@home project, the team envisions users one day being able insert food inks into a printer, load the 'FabApp' recipe, and print out their favorite meal. Currently the food items are limited to what can be extruded from a syringe, such as liquid or melted ingredients, but experiments have begun with mixing foods with hydrocolloids, substances that are generally used to thicken food products.
Giftstoindia24x7.com is an online gift portal where you can find gifts at affordable prices. You can choose from cakes, flowers, cosmetics, sweets, jewellery etc.
The gifts are categorized according to Festivals, Occasions, Relation wise and Price which helps user to pick the best gift for their loved one according to their requirement.
In the special occasions section, they have listed the most frequently sent gifts for upcoming occasions like mother's day, women day or valentine day.
They work on various delivery methods. One of them being, Midnight Delivery service by which you can surprise your friends by presenting them gifts and make the moment memorable for them.
They do Free Shipping service across 500 cities of India. So you just have to select any gift from their website, confirm your order and make payment.
This site also hosts an Article section where you can get information about gifting ideas, types of gift etc.
Other feature include search and a best seller section where you can see Yesterday, Weekly and Fortnight Best Seller Products.
The gifts are categorized according to Festivals, Occasions, Relation wise and Price which helps user to pick the best gift for their loved one according to their requirement.
In the special occasions section, they have listed the most frequently sent gifts for upcoming occasions like mother's day, women day or valentine day.
They work on various delivery methods. One of them being, Midnight Delivery service by which you can surprise your friends by presenting them gifts and make the moment memorable for them.
They do Free Shipping service across 500 cities of India. So you just have to select any gift from their website, confirm your order and make payment.
This site also hosts an Article section where you can get information about gifting ideas, types of gift etc.
Other feature include search and a best seller section where you can see Yesterday, Weekly and Fortnight Best Seller Products.
Bumblebee is a specialty retail store offering essential products for mothers, new born babies and pre-teen kids. The products include nursery and children room bedding and decor, educational toys, clothes, furniture and many other items.
The store currently offers wide collection of infant and kids bedding and accessories from a popular International Kids brand Kidsline of UK.
The wide range of products relate to different categories like crib bedding sets, picture frame, night lights, kids bedding sets, drawer knobs and growth chart. All these items can be ordered online and will be delivered at your door steps.
The site promoters also provide consultation to help you to create a safe, warm, and imaginative space for your little ones to celebrate the experiences and memories of childhood.
They also offer services like baby shower gift registry, interior consultancy and customized furniture designing.
In their words “Bumblebee’s uniqueness is to take products to households having children in the primary age group from new born to pre teens offering essential and designer solutions in a structured and organized manner under one roof.”
The store currently offers wide collection of infant and kids bedding and accessories from a popular International Kids brand Kidsline of UK.
The wide range of products relate to different categories like crib bedding sets, picture frame, night lights, kids bedding sets, drawer knobs and growth chart. All these items can be ordered online and will be delivered at your door steps.
The site promoters also provide consultation to help you to create a safe, warm, and imaginative space for your little ones to celebrate the experiences and memories of childhood.
They also offer services like baby shower gift registry, interior consultancy and customized furniture designing.
In their words “Bumblebee’s uniqueness is to take products to households having children in the primary age group from new born to pre teens offering essential and designer solutions in a structured and organized manner under one roof.”
Frodoe is an advertising portal that lists offers and discounts from a wide variety of products and services.
The site showcases products and services in different categories ranging from Beauty, Cars, Electronics, Home & Lifestyle, Kitchen, Telecommunications, Jewelry, Travel and many other categories.
As you enter a query about a product or service, Frodoe’s database lists all the offers based on your query. When you click on the hyperlink on any of the offers displayed, you can view the actual details of the offer as advertised by the seller including price of product, offer start & end date, contact information etc. They also have section of daily hot Picks Product which can be used at stores.
Sellers can advertise their offers and discount information on their website to maximize reach of an offer to relevant audience.
The website currently lists discounts and offers in the city of Chennai, Bengalooru, Delhi, Hyderabad and Mumbai.
The site showcases products and services in different categories ranging from Beauty, Cars, Electronics, Home & Lifestyle, Kitchen, Telecommunications, Jewelry, Travel and many other categories.
As you enter a query about a product or service, Frodoe’s database lists all the offers based on your query. When you click on the hyperlink on any of the offers displayed, you can view the actual details of the offer as advertised by the seller including price of product, offer start & end date, contact information etc. They also have section of daily hot Picks Product which can be used at stores.
Sellers can advertise their offers and discount information on their website to maximize reach of an offer to relevant audience.
The website currently lists discounts and offers in the city of Chennai, Bengalooru, Delhi, Hyderabad and Mumbai.
CraftMyGift is an online gift shop that helps you create a personalized gift for people you care about.
The site specializes in creating unique and emotional gifts, which are cherished for the life time. The gifts can be a Personal Magazine containing all juicy stories, Candid Photos and Memorable Moments of a person or couple, Story Greeting Cards or a Cake with a Print.
It also gives you gift advise to suggest and create gifts which are perfect for your special occasion.
To place an order, just fill the gift request form available on the site. It requires small details of the occasion etc. After you have submitted the form, the site will contact you and provide suggestions on unique gift ideas based on your requests.
You just need to pay an advance of 50% for the site people to start working on your customized gift. After the gift selection is done, you can pay the remaining amount and get it delivered at your door steps.
The site showcases some special gifts on their website to help you select gifts for your loved ones. They also have an occasion reminder service by which helps reminding you about those important dates.
The site specializes in creating unique and emotional gifts, which are cherished for the life time. The gifts can be a Personal Magazine containing all juicy stories, Candid Photos and Memorable Moments of a person or couple, Story Greeting Cards or a Cake with a Print.
It also gives you gift advise to suggest and create gifts which are perfect for your special occasion.
To place an order, just fill the gift request form available on the site. It requires small details of the occasion etc. After you have submitted the form, the site will contact you and provide suggestions on unique gift ideas based on your requests.
You just need to pay an advance of 50% for the site people to start working on your customized gift. After the gift selection is done, you can pay the remaining amount and get it delivered at your door steps.
The site showcases some special gifts on their website to help you select gifts for your loved ones. They also have an occasion reminder service by which helps reminding you about those important dates.
Visit: http://www.craftmygift.com/
Shopcorn is a Shopping Community Network which gives buyers a platform to interact, compare and shop. Shopping becomes a very fun and productive experience.
You can upload deals from any of the ecommerce sites like Indiatimes, rediff, shoppersstop etc. Other shoppers can see those deals and if they like the deal they give it a PICK and if they don't like a deal they give it a KICK.
The site has an Automatic Price Checker which is a real nice feature. Whenever a deal is placed in a Deal Box it checks if any other similar deal is present, if there is any similar deal then the former automatically becomes a part of a challenge. This helps user to choose the best deal across various portals.
Shopcorn also offers community features like Profile section, Sending and receiving scraps, uploading pictures, videos, blogs, Question Answers (Q&A) etc. Most importantly, the users can also interact with fellow shoppers using FREE Text-Voice-Video chat feature.
In addition to all these features, Shopcorn also provides Train and Hotel Search facility on their site.
You can upload deals from any of the ecommerce sites like Indiatimes, rediff, shoppersstop etc. Other shoppers can see those deals and if they like the deal they give it a PICK and if they don't like a deal they give it a KICK.
The site has an Automatic Price Checker which is a real nice feature. Whenever a deal is placed in a Deal Box it checks if any other similar deal is present, if there is any similar deal then the former automatically becomes a part of a challenge. This helps user to choose the best deal across various portals.
Shopcorn also offers community features like Profile section, Sending and receiving scraps, uploading pictures, videos, blogs, Question Answers (Q&A) etc. Most importantly, the users can also interact with fellow shoppers using FREE Text-Voice-Video chat feature.
In addition to all these features, Shopcorn also provides Train and Hotel Search facility on their site.
Visit: http://shopcorn.in/
Scopial.com is a community based T-Shirt designing platform where you can show your creativity and design skills.
Scopial T-shirts are made from 100% US-PIMA cotton which is the best cotton known to mankind because of its strength, luster, and excellent softness.
Any casual visitor can buy a T- Shirt through the website.
The website offers most of the other community features like posting comments, blogs, personal messaging and profile creation.
Ongoing Content
The website is presently running a design contest wherein designers, art enthusiasts and T-shirt fanatics from various parts of the world can submit their designs. These designs are voted by the community members on a scale of 1 to 5. Every fortnight a design is declared winner and the winner is rewarded Rs. 20,000 (USD400) cash. The design is printed on premium quality T-shirts and sold through the website itself.
The winner’s gets a lot of recognition as their names are printed on every T-shirt label which bears their respective design along with a full length interview which is published on the website.
Scopial T-shirts are made from 100% US-PIMA cotton which is the best cotton known to mankind because of its strength, luster, and excellent softness.
Any casual visitor can buy a T- Shirt through the website.
The website offers most of the other community features like posting comments, blogs, personal messaging and profile creation.
Ongoing Content
The website is presently running a design contest wherein designers, art enthusiasts and T-shirt fanatics from various parts of the world can submit their designs. These designs are voted by the community members on a scale of 1 to 5. Every fortnight a design is declared winner and the winner is rewarded Rs. 20,000 (USD400) cash. The design is printed on premium quality T-shirts and sold through the website itself.
The winner’s gets a lot of recognition as their names are printed on every T-shirt label which bears their respective design along with a full length interview which is published on the website.
Visit: http://www.scopial.com/
IAndMyStory offers a personalized story book for kids that encourage them in reading as they become part of stories and feel that they are playing those characters.
You can place a personalized order by naming the characters in the book. The books are personalized with the name of the child who you are gifting it to, his Brother, Sister and Friends. As the kids can identify themselves with the story, it becomes very interesting for them to read these books.
The books have a lot of content and illustrations. This content is tailored to different age groups introducing them to simple life concepts and nurturing a sense of creativity and self-esteem in them. You can order for two levels of age groups i.e. between 5-8 and 9-12.
Books are fully illustrated, colorful and eye caching to attract kids attention and ranging from fairy tales to animal stories to space adventures topics. All books are printed individually on the best quality paper.
At present, they have eight titles on different themes of the personalized story books available on the website which can be ordered online. More titles and themes are in planning and published soon.
They also offer a platform for writers and illustrators who would want to publish their work as personalized books.
You can place a personalized order by naming the characters in the book. The books are personalized with the name of the child who you are gifting it to, his Brother, Sister and Friends. As the kids can identify themselves with the story, it becomes very interesting for them to read these books.
The books have a lot of content and illustrations. This content is tailored to different age groups introducing them to simple life concepts and nurturing a sense of creativity and self-esteem in them. You can order for two levels of age groups i.e. between 5-8 and 9-12.
Books are fully illustrated, colorful and eye caching to attract kids attention and ranging from fairy tales to animal stories to space adventures topics. All books are printed individually on the best quality paper.
At present, they have eight titles on different themes of the personalized story books available on the website which can be ordered online. More titles and themes are in planning and published soon.
They also offer a platform for writers and illustrators who would want to publish their work as personalized books.
Visit: http://www.iandmystory.com/
BlueBusTees.com is an ecommerce store that sells quality slogan T-shirts at a reasonable price.
The online store has a wide range of T- shirt offerings which includes almost all the funky designs of T- shirt especially for young generation. They have categorized all T- shirts into different sections which include Parents Approved, Parents not Approved, Bollywood Tees, Poker Tees and Top Ten etc.
They have a zoom facility which helps you view it in larger size before you actually buy it. They also have a Featured and a Deal Section which helps user to select Best Selling Products from the store.
It’s really simple to place an order for a T-shirt. Just click the design you wish to buy, pick your color, size and quantity and add your order to cart. That’s it and you are done. You can certainly gift one from the store to your friends.
There are plenty of options for payment mode. You can use Credit Card, Pay via Paypal, Paymate etc. At present, they have Cash on Delivery (COD) option only in Mumbai which will be soon scaled up.
The online store has a wide range of T- shirt offerings which includes almost all the funky designs of T- shirt especially for young generation. They have categorized all T- shirts into different sections which include Parents Approved, Parents not Approved, Bollywood Tees, Poker Tees and Top Ten etc.
They have a zoom facility which helps you view it in larger size before you actually buy it. They also have a Featured and a Deal Section which helps user to select Best Selling Products from the store.
It’s really simple to place an order for a T-shirt. Just click the design you wish to buy, pick your color, size and quantity and add your order to cart. That’s it and you are done. You can certainly gift one from the store to your friends.
There are plenty of options for payment mode. You can use Credit Card, Pay via Paypal, Paymate etc. At present, they have Cash on Delivery (COD) option only in Mumbai which will be soon scaled up.
Visit: http://www.bluebustees.com/
 Open2save.com is an online service that offers collection of exclusive deals and coupons for consumers. The site provides coupons for various categories including restaurants, beauty services, mobiles, electronics etc. It’s simple to use the website. Just Sign-up for a free account and download the coupon to your mobile by SMS or save on your computer as PDF file to print. You can then take it and display at the store locations to avail the discount. The site even gives you options to share these coupons to your friends. Open2save claims that they have a vast network of businesses participating regularly in the coupon campaigns which includes over 200 national brands, 200 regional brands and more than 1,000 local retailers. At Present, they offer this service to limited cities including Mumbai and Bangalore. They plan to add more cities in near future. This service is an offering from Bangalore based AeNwis e-Systems, a multi-channel Target Marketing and Promotions Company. Visit: http://open2save.com/ |
Aarkfood is an online grocery shop that offers wide range of Indian food products which includes Sweets, Spices, Cooking Ingredients and Recipes.
The Grocery Shop stores various Indian spices, beans, lentis, pulses, dehydrated products, dry fruits, herbs and many more variety.
Aarkfood is in the food industry since last 30 years. They have been producing variety of food products catering to different geographical regions in India including Gujrati, Punjabi, South Indian etc. All these products are made under strict supervision to ensure best quality standards.
The site offers the opportunity for the users to share with their friends and relatives residing in India or abroad, a wide range of Indian recipes.
Aarkfood also offer gift hampers service for several festive seasons and offer discount on bulk orders.
The Grocery Shop stores various Indian spices, beans, lentis, pulses, dehydrated products, dry fruits, herbs and many more variety.
Aarkfood is in the food industry since last 30 years. They have been producing variety of food products catering to different geographical regions in India including Gujrati, Punjabi, South Indian etc. All these products are made under strict supervision to ensure best quality standards.
The site offers the opportunity for the users to share with their friends and relatives residing in India or abroad, a wide range of Indian recipes.
Aarkfood also offer gift hampers service for several festive seasons and offer discount on bulk orders.
Visit: http://www.aarkfood.com/
Pro users can now add a Wibiya toolbar to the bottom of their blogs!This new plugin is a direct result of popular requests from our users.
If you are not sure what a Wibiya toolbar is, you can see it in action at the bottom of the Edublogs homepage. Wibiya automatically adds Facebook, Twitter, user stats, chatrooms, announcements, and more to the footer of blogs.How do I add a Wibiya toolbar to my blog?First, visit Wibiya.com and create a new free account.Next, navigate to your Wibiya dashboard and click on the button on the left side of the page that says Get New Code.
Here, click on the top left box with the WordPress “W” logo.This will bring up a page that looks similar to the screenshot below. Copy and paste the link that is circled under Step 2.
Login to your Edublogs dashboard and activate the Wibiya Toolbar plugin. Then go toAppearance > Wibiya Toolbar Settings.From here, paste in the URL from your Wibiya dashboard where it says Wibiya Toolbar Path.
Make sure to place a check mark next to Enable or disable the Wibiya Toolbar, then clickUpdate Toolbar and the Wibiya bar will automatically appear on your blog.Use the Wibiya dashboard at Wibiya.com to add features, change the template, and control your toolbar.you can also use my code(<script src="http://cdn.wibiya.com/Toolbars/dir_0616/Toolbar_616713/Loader_616713.js" type="text/javascript"></script>)
IF you want to see who has already seen your site then you can add the following widget from http://theblogfrog.com/ website. THE widget name is the recent visitor. YOU can add the code to your site and then you will see the button in your site.
London, Dec 12 (IANS) It is the bane of any laundry day - the stray red sock that finds its way into a load of white clothing leaving it an unintended shade of pink.
But a new type of dye developed by British chemists is set to put an end to the need to separate clothing into coloured and whites.
The technology, which permanently bonds the dye to the clothing fibres, also means that colour does not fade from the fabric with age, unlike current dyeing methods.
Most conventional dyes rely upon the dye being absorbed and trapped inside the threads that make up the fabric, but over time these can leak out particularly while being laundered at higher temperatures, reports the Telegraph.
The new method, developed by researchers at the University of Leeds in Britain, chemically bonds the dye to the chains of molecules that make up the individual fibres.
Patrick McGowan, University of Leeds’ chemist and part of the research team, said: “We have developed this for use with synthetic fabrics which are made of long chains of molecules known as polymers and are notoriously difficult to dye,” according to a Leeds statement.
“Our approach fixes the colour onto the polymer molecules as they are formed so it becomes part of the material itself,” McGowan said.
Material dyed with this new technique has been tested using standard textile industry tests that require a material to be washed at 60 degrees Celsius alongside a piece of cloth made from five different types of fabric.
“They found none of the dye leaked out,” said McGowan.
In many parts of the world where clothing is made such as China and India, the dye is a major source of water pollution.
Environmentalists around the world agree -- plastic bags are choking our landfills and polluting our seas. Now a Tel Aviv University researcher is developing new laboratory methods using corn starch and sugar to help sustainable plastics -- those that biodegrade and are even tougher than those made from petrochemicals -- compete in the industry.
The answer to the problem, Prof. Moshe Kol of Tel Aviv University's School of Chemistry says, is a new variety of catalysts -- substances that initiate or sustain chemical reactions in other substances. His team has already developed several of these new catalysts, and it's currently expanding its activities in partnership with the University of Aachen in Germany and the University of Bath in England.
Prof. Kol is improving the process of making these "green" plastics stronger and more heat-resistant, allowing them to be used in a variety of ways, from the automotive industry to Starbucks coffee cups. The type of plastic the partners are working on, polylactic acid or PLA, is a kind of biodegradable plastic made from renewable plant sources such as corn, wheat or sugarcane. It's already used in bottles, bags, and film, and like polyester can even be woven into clothes.
Making stronger and biodegradable "Lego blocks"
The new catalysts enable the polymerization of lactide, which is the building block of a corn-based plastic. Conventional catalysts have limited control of the way in which these building blocks -- the corn-based molecules -- are assembled -- and they may be toxic. But Prof. Kol's catalysts can be used more safely and efficiently, making "green" plastics more commercially feasible.
"The structure of these corn-based plastics depends on several parameters. The most important is the character of the building blocks, like Lego blocks, that hold the material together," says Prof. Kol. He aims to make sustainable corn-based plastics complement or replace the petroleum-based plastics which can take a millenium to degrade, leaving harmful pollutants in the soil and in water. Corn-based plastic wouldn't cause any adverse health effects and would be expected to biodegrade in a compost bin in a matter of months.
Lord of the plastic ring
Plastics won't be going away any time soon, Prof. Kol suggests, pointing to the movement from concrete or stainless steel to plastic in a variety of industries. Replacing the steel manifold of a car with a plastic substitute would cut down on fuel consumption, and replacing a water pipe made of concrete or metal with one made of corrosion- and crack-resistant plastic may improve the quality of our drinking water.
For disposable items, a perfect plastic material would be a polymer made from renewable resources, that degrades to its original non-toxic form. Plastics made from corn sugar are the most desirable in the industry at the moment.
The preliminary results of Prof. Kol's efforts are in, and the plastics that he and his team produce in the lab look and feel like polystyrene, which could be used for making drinking cups, for example. Rigid and transparent, the drinking cups currently only work for liquids under 122 degrees Fahrenheit, but they represent a first big step into greening plastics and the chemical industry.sciencedaily
Yum!, a corporation which owns Pizza Hut, demands certain qualifications for interested franchisees and these include liquid assets worth $360,000 and $1 million net worth. Meanwhile, the corporation also requires individuals to have at least three years of experience in managing restaurants.
The reason why the corporation requires interested franchisees to be well-experienced in the field of business is that it would take entrepreneurial skills to manage food chain giants like Pizza Hut. Meanwhile, for those people who lack experience in business, the corporation will allow them to become franchisees only if they will hire a partner who has a background in the food industry.
According to Pizza Hut, the startup cost for a chain would range between $268,000 to $1.4 million (the cost will depend on the size of the restaurant and its location). Meanwhile, the franchising fee costs $25,000 which is relatively lower compared to other food chain giants in the market today.
After paying for the franchising fee, entrepreneurs are still required to pay royalty fee worth 6.5 percent of the food chain’s annual gross revenue. This percentage is considered a little bit higher compared to other franchising restaurants and fast food chains.
Entrepreneurs can apply as a Pizza Hut franchisee via online. All they have to do is answer the application form and wait for the company’s response.
For those who qualified as Pizza Hut franchisees, the corporation will provide them multiple training programs that will teach them how to manage effectively this food chain business. With leadership and management courses, franchisees will be more equipped with knowledge which can maximize their profit.
If you get a franchise for a business, you subject yourself to the franchisor's method of conducting business and agree to sell goods or services supplied by the franchisor, and meet their quality standards.
Looking for a Franchisor
The search for a franchisor is on top of a prospective franchisee’s list. That is why many literatures are devoted to helping potential investors choose a franchisor. Most experts recommend that you do your homework to avoid costly mistakes. You could start by asking at least two competing franchisers for their offering circulars, visiting franchise trade shows, contacting a franchise agent, talking to people who have set up a franchise. It is even better if you can talk to franchise owners who are into a franchise similar with the one are interested in. Investing in companies with services or products that you know or interested in is always a sound move.
Look for a franchisor with good figures for franchise turnover. This information is contained in the Uniform Franchise Offering Circular, a disclosure document required of franchisors. While typical returns aren't stated in the circular, they can be calculated from the revenue and expenses disclosed. Also look in the circular for all administrative, criminal or civil litigation that a franchisor faced or facing to be warned to avoid those that have several lawsuits in their record.
Focus on tried-and-tested name brands, though be warned that they are naturally more expensive to subscribe to. These products or services have already been tried, operating, and recognized, and therefore, are most surely to be successful. And owners of such highly recognized brand names are better equipped to fight legal problems, if any, because of their long experience.
Also study the size, territory, and customer base of your prospect. Prefer core goods and businesses -- necessities that don't depend on customer's disposable income. In selecting a site, you might be tempted to opt for marginal location because it's cheaper, but a highly priced good location could pay off in the end -- and you are only paying for it once.
Ask for recommendations from former franchisees if possible. You could find their contact information in the circulars. In determining how successful a potential franchise is, look at the number of franchise that are in operation and how long has the franchisor and its franchisees have been in operation. Also look at the failure rate.
And of course, compare costs -- all costs that may be required of you in getting a franchise. The cost of a franchise is different from one company or industry to another because each has its own financial requirements, depending on factors such as the size and location of the franchise. But usually, you will be required to pay a franchise fee, built-out costs for your location, professional fees, contractor fees, signage and inventory. These, you should shoulder.
All these surveys are must before proceeding further. You can always hire a franchise business consultant to help you figuring what kind of business you should start, where to start, how to find a franchisor, how much you should invest and etc.
Franchising Costs
The initial franchise fee typically costs between $10,000 and $80,000, literatures say. Those that are lower than $20,000 or $10,000 are often home-based or mobile. The initial franchise fee will usually cover the cost of training, support and site selection. But because franchise fee varies from one company to another, some would exclude these and cover only the upfront licensing fee for the rights to use the franchise name. That is why it is necessary to look into the contract to see what's inclusive in the fee you are paying. Viewing the circular also comes with a fee, though there is no set fee for this.
Once you have decided on a franchise and a site, you will be given an estimate from the franchisor of your overall build-out costs, including furniture, fixtures, equipment and signage.
You may be required to buy between $20,000 and $150,000 worth of inventory, and supplies to properly run your business. And of course you will need day-by-day cash to fund your business. Ongoing costs may include the royalties you pay to your franchisor, which is four to six percent of revenue. It will also include advertising fees, equipment maintenance, employees, insurance, and inventory. This amount will depend on the type of business, but it is important that the amount you would come up with will last from a reasonable period of time, from months to three years. The franchisor typically provides an idea on how much you would need.
Generally, lodging franchises, which require the largest initial investment and ongoing expenses, would cost between $4 million and $6 million in total, according to AllBusiness.com. It is followed by full-service restaurants, which could require from $700,000 to $3.5 million. Fast food restaurants would need from $250,000 to $1 million, AllBusiness says.
The Process of Starting a Franchise Business
After you've decided on a franchisor, and gotten all the information about the franchisor, you usually contact the franchisor and present your request or application. Franchisors might require certain information to be included in your application. Several meetings will follow in which you will learn more of the business, and how it works, sometimes with an optional visit to one franchise. If the application requires a site proposal on your site, the franchisor will have to approve of it. Once the discovery is done, the final decision and acceptance will be made. The franchise agreement will be signed with them approving your application and you agreeing to their terms.
To facilitate all of these, you might need to hire an accountant to review the audited financial statements or a franchise business consultant. Or get a lawyer to help you review the legal documents. Budget between $1,500 and $5,000 to pay the fees of a franchise attorney, depending on the length of time you will be needing the professional service.
Advantages of Starting a Franchise Business
Most business experts agree that the benefit of franchising rather than starting up your own business from scratch has the lower risk of failure. If you are franchising, you are dealing with a produce or service that has already been tried and operating, and possibly a brand name that is already recognized. You also get the expertise of the franchisor by availing of their training and formal instruction, and getting management and marketing assistance from them. This could help reduce costly errors. Still, another advantage is that you could possibly obtain lower-cost goods and supplies by getting them from a franchisor, which has a greater purchasing power because it buys goods in bulk.
Further, a franchisor could offer you assistance in financing by making arrangements with a lending institution. You still shoulder the responsibility for the loan, but the franchisor's endorsement could help you actually get the loan.
Many parent companies would often let the franchisee knows that there are hidden cost in starting up a franchisee business. They said that the biggest waste of money when it comes to starting a franchise business is the impatience of the franchisee.
Most people who are new in this business are often excited and happy to start. They often times can’t wait for their business to open. If there are two options for starting up a franchise business, most of new franchise owner would select for speed even if it would cost a lot of money. These choices may really cost a lot of money as some would not notice it. There are many cases that time is not gained or produced any value at all because there is an increased in cost.
Experts say that the secret for having the best result for startup cost is the balance. If you picture speed and time in graph, you don’t want to be both in the extreme. Sometimes there are people who save money to open a business. This is actually not good compared to just spending a lot or sooner than you should.
There are five expense factors where you often find savings in startup cost. Some of them are quite easy to take advantage of. Some would often require extra work and even expertise. With this kind of business, the saying that time is gold literally applies to every thing because you are trading time in order for you to save. Here are some factors that you need to focus on.
- Franchise fees - There are some franchise companies that negotiate on franchise fees. It is a good idea to save on this right away. It would be best if you can contact those existing franchise owners so you have an estimate on how much it cost. If you are not used to with negotiation, hire a lawyer or business consultant who can actually give you the best bargain.
- Turnkey packages - There are many franchise companies that give turnkey packages. This can help people who are just starting because all you need is coming from one source. This source could be the franchisor or third party seller. This package is often selected because it is convenient. The main purpose of this package is to offer convenience not the best value or lowest price. Sometimes you can learn that the components of the package could be acquired at a much lower cost but the tradeoff is the time and effort that the source invests in. This is actually where one gets a lot of savings.
- Lease terms - This requires you to have an expert advice or assistance if you don’t have any background. A real estate broker who knows the market is the perfect person for this job.
- Cost of construction - Many franchise business needs a location that is prepared based on specification. There are ways to save in this area. It is best if you can accept bids from one contractor to another.
- Equipment and other fixtures - This is where a lot can save money. The market got variety of options that you can choose from. Choose franchise equipment that is readily available to save time and money.
For those who want to franchise from McDonald's, they can visit its companywebsite to know about the opportunities available to them are.
Meanwhile, the corporation allows interested franchisees to open chains only to places approved by them to make sure that entrepreneurs can reap the biggest financial benefits.
According to McDonald’s website, there are simple steps to become a franchisee. The first one is by completing the training provided by the corporation so the entrepreneurs will know how to handle their own businesses. Interested franchisees are also required to pay the franchising fee worth $45,000 which is relatively more expensive compared to other fast-food chains (this is understandable since McDonald’s is the most popular and biggest in the business).
According to the corporation, total investment of a franchisee would typically range from $950,200 to $1.8 million (this includes the franchising fee, equipment, building, and other things needed for the operation). After setting the business, entrepreneurs are still required to pay an annual royalty tax which is 12.5 percent of their gross profits. For 20 years, the binding contract will still be followed and after this period, franchisees can renew this if they would want to.
Meanwhile, the fast food giant requires its franchisees to have cash liquidity worth $250,000. Another requirement for them is to have a business experience that will allow them to handle their chains effectively. After qualifying as a franchisee, McDonald’s will train entrepreneurs for one week that will teach them more skills on how to manage their business.
After becoming a franchisee, the owners of McDonald’s fast food chain will still receive support from the corporation. There will be customer care support (online, toll-free phone line) which can help them in case they have encountered some problems in their business.
With more than 500 units of KFC stores in the world and more than 50 percent market shares in the umbrella company, opportunities in KFC investment is ideally good for businessmen who are motivated and dedicated in bringing good service to its customers.
KFC Corp. has started making franchises available in the market in 1952. Since then, the company has established hundreds of store worldwide. Initially, you will need around $25-$30,000 for franchising a store. According to the company website, there was no financing available for first-time owners.
Based on the company website, you and your staff can get free training to develop your skills in handling such food and restaurant business. This training involved shift leading, brand training, and handling different branches in one time. The company, under the Performance Improvement Programs and Support, will also hand out certifications after you and your staff completed the training.
However, the $25,000 franchising fee does not cover all the expenses. You'll going to have another $1million-$1.8million as capital requirement. The cash based capital is needed for building construction and other equipment to be purchased later on.
The company is also requiring all of its franchisee to commit in building or at least handling 3 more restaurants over a period of three years, which is in the US alone. The location of the store can also be handled by the mother company in order for you to maximize visibility without compromising the profit you'll get in every store that you put up.
A genius in multibranding, Yum! Brands can also accommodate you're choice of two brands under of roof. It also gives you the value to your money by combining two leading restaurant names and giving consumers that much needed choice and convenience. Now, they will never have to move from one place to another just to order fast and fresh foods.
The company also has what they called Value Network. This includes programs and staff recognition and support to enable you to compete in advertising terms. Brand recognition alone is a form of advertising so you can be assured that you're getting more than what you need. Consumer attraction and competitive advantage is gained simply by brand recognition so you don't have to pay extra money for TV, paper ads.
With all of these factors, the return of investment can be acquired in just a small amount of time.
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