Month: June 2020

Young women working on computer

Best Online Courses for Small Business Owners & Franchisees

Certain industries and franchise opportunities are easier to get into without any secondary education. For example, the pet industry offers a variety of positions at different levels that don’t require a college degree. However, most (if not all) people starting in business want to set themselves up for as much success as possible. One sure way of doing that is by enrolling in online courses tailored towards small business owners.

We’ve assembled a selection of the three best courses for small business owners. All these courses will help you acquire new skills from the comfort of your own home. You’ll have the flexibility to tend to your small business needs while growing as an entrepreneur as you do your coursework. All our selections are from Udemy, the world’s most extensive collection of online courses.

Straight Talk About Franchising

First up is Straight Talk about Franchising, created by the author, columnist, and business owner Cynthia Readnower. She draws from her experience in franchising to give you a comprehensive look into what it’s like buying a franchise and owning a business. She draws from real-life situations, and personal anecdotes backed up with tons of data and information about business and franchises.

Some things you can expect to learn in Straight Talk About Franchising are:

  • The criteria for what makes a good franchise
  • The criteria for what makes a lousy franchise
  • Keys to the best HR practices
  • The main things it takes to run a business
  • Operational skills including accounting, customer service, managing systems, and equipment maintenance

The Expert Guide to Buying

Next on our list is The Expert Guide to Buying, created by Mitch Boraski, an entrepreneur and content creator for The Franchise Guyz. This course is like a survey course; it’s a complete overview of franchising. You might like this course if you’re an entrepreneur, a franchise buyer, or a franchise investor.

Instructors of The Expert Guide to Buying draw from their over ten years experience in franchising to fully prepare you for buying a franchise. The only requirement for this course is the ability to understand basic business concepts.

Some things you can expect to learn in The Expert Guide to Buying are:

  • A step-by-step overview of the franchising process
  • The Top 10 Tips for what to know before you buy
  • How to navigate the franchising process
  • How to buy a franchise
  • How to invest in a franchise

Effective Time Management

Last but certainly not least on our list is Effective Time Management. This course was created by William U. Pena, the best selling author, and entrepreneur. This course aims to help shift your perspective from “time management” to “task management,” a simple adjustment that will help you become 10 times more productive. You’ll learn how to effectively prioritize your tasks so that you can get more high-level projects done more quickly.

This course is for all levels. You’re only required to complete the exercises detailed in each video. This course is for entrepreneurs, business or department leaders, or any employee who wants to become more efficient.

Some things you can expect to learn in Effective Time Management are:

  • How to get ten times as much done in half the time
  • The secret to effective time management
  • How to identify high-value tasks
  • How to develop and maintain a successful routine
  • Seven ways to get things done – guaranteed
  • How to give yourself more free time
  • Much, much more

Any of the online courses listed above would be the best courses for small business owners, franchise owners, or anyone who wants to make a transition into business or franchising. Again, while it’s not always necessary to get an online certification, it is an excellent way to ensure that you’re ready to take on the business world and be successful.

At K9 Resorts, we offer an exciting, franchising opportunity to enter the thriving pet industry. Our systems are simple and effective, and our services are top of the line. We are proud to support our franchisees throughout the entire process. Check us out here!

African woman holding in hand paper bills bank receipt using calculator on table

5 Budgeting Tips For Your Business

Whether you’re a new business owner or an established owner looking to maintain and improve your business operations, without a doubt, the key is solid, well-planned budgeting. The way you budget affects every other facet of your organization, and this is true across the board. But budgeting can be intimidating, and many people avoid it out of fear.

At K9, we wanted to share our five rules for budgeting for small business. First, let’s briefly discuss why budgeting matters.

Why Budgeting Matters

A good budget is the foundation of a good business. A budget allows companies to more accurately make plans for their fiscal year: set realistic goals, sensible limits, and priorities. A budget enables enterprises to evaluate the health and performance of their company over the year. This, of course, helps in planning for the next year.

A good budget history can also be a saving grace if you’re ever in need of a small business loan. Banks and lenders will want to see evidence of strong budgeting, and if they don’t, that could be enough for them to deny your much-needed finances.

The 5 Rules for Budgeting A Small Business

You don’t need to be afraid of budgeting. Read on for our five best business budgeting tips to help get you started.

1. Be Realistic

When you’re budgeting for your small business, you must be as realistic as possible. You should set your sights on a number using performance and future estimates as a base as much as possible. If anything, you’ll want to overestimate your expenses for your budget. That way, you have more room to adjust throughout the year.

2. Be Flexible

Another crucial thing to keep in mind when you’re budgeting is that it can change. On the contrary, your budget should be reviewed and updated monthly, especially if you’re new to budgeting, keep detailed records of your expenses and income, and adjust the budget for the next month as necessary. Track your sales and use them for projections. This practice will also keep you well aware of how well your company is performing.

3. Know Your Business

The best budgets come from a team of people from within the company who truly know the business. As a business owner, you might have a better idea of the big picture, but the devil is in the details when it comes to budgeting. You should gather individuals from every department so that you have precise insight into what each one will require for optimum functioning. You’ll need to become intimately acquainted with every aspect of your business.

4. Continue to Cut Where You Can

Part of getting to know your budget better and reviewing your budget is always keeping an eye for where you can limit spending. Is there a more cost-effective brand of coffee you can serve in the breakroom? Is there a vendor that’s over-charging you? Be vigilant for ways to save yourself money, because as we’re sure you know, that will only benefit you and your employees in the end.

5. Research the Industry

If you’re recently starting out in your small business venture, all this might still seem foreign to you. You don’t have any past sales, so how are you supposed to make a reasonable projection? Before you start up your business, you need to make sure you’ve thoroughly researched the industry you’re going to be joining.

Most of the data you’ll need is accessible online. Things to look for when you’re conducting your research are your competition’s most common revenue sources and expenses. Be aware of more specific things as well, such as tax law changes and overtime laws. Of course, your business is going to have unique challenges, but you should be able to make a solid starting budge after researching the industry.

K9 Resorts is proud to be a franchise that supports its branches fully, including with all their budgeting needs and business budgeting tips. Check us out here!