Budgets are tough. Budgets aren’t always easy to stick to. And sometimes it’s an even tougher task to come up with a budget in the first place. Take, for example, the startup costs you’ll have as you get your franchise up and running. How much will everything cost? Are you prepared — fiscally?
A lack of cash flow is one of the most common reasons a small business doesn’t make it out of its first year. The better you understand your initial startup costs, the better off you’ll be in the long run. Seriously.
So before you approach a lender, let’s make sure we get a better handle on the variety of costs associated with becoming a Bin There Dump That franchise operator. The best way to do that? Make two lists.
Here’s a look at what should be on your lists. Continue reading “Before You Approach A Lender: Understand Your Franchise Startup Costs”
One of the things that makes a franchise such a valuable opportunity is the exclusivity of the territory. No other Bin There Dump That franchise operator will compete with you for customers. Most franchise operators begin as a single territory operation. Those individuals start with one truck and an inventory of 12 bins. The startup cash is approximately $75,000. Often, over the first 12 months the business grows by adding more equipment (i.e., bins and another truck). STOs (single territory operation) can add trucks and bins and, if the situation is right, new territories.
But for some franchise operators, though, one territory is not enough. Some people don’t want to take the slow and steady approach.
If you’re one of those people, Bin There Dump That’s City Builder 3-Pack program might be just the option you’ve been seeking.
Continue reading “Be A City Builder: When One Franchise is Not Enough”
Call it trite. Call it a cliché. Call it whatever you want, but the old saying is true: It takes money to make money.
A franchise is a great way to make a living, to support your family, and to plan for your golden years. The hard part for many entrepreneurs isn’t running their businesses; it’s finding the capital to get the enterprise off the ground.
According to statistics from the Small Business Administration, a third of all businesses will fail in the first two years and only 44 percent survive four years. There are a variety of reasons businesses don’t make it beyond the first few years, and many of them tie back to the money. Inadequate funding restricts opportunities in a variety of ways.
Here’s a look at the top seven ways franchise operators can find the money they need to keep the Bin doors open.
Continue reading “Top 7 Ways To Fund Your Franchise Venture”
There is a seemingly endless list of things that need to get done to start a business. Beginning from scratch can be a particularly daunting and difficult task. The pitfalls are varied and vast. One of the most challenging aspects of the starting a new enterprise is the investment involved — time, energy and, of course, money. A franchise (Bin There Dump That franchise in particular) is a great way to get more for your investment dollars.
One of the first questions franchise operators ask is, “Where do my franchise fee and royalties go?” It’s a fair question, one we’re happy to answer. One of the more appealing aspects of purchasing a franchise is that much of the hard work has already been done. When you become a franchise operator, your business model is not only fully developed it’s also fully proven. Through the years, Bin There Dump That has fine-tuned the process. We learned what works and what doesn’t. Our approach has been managed and modified; it’s been tweaked and tested. We know it works.
Continue reading “Franchise Fees Vs. Royalties: What’s The Difference, And Where Does That Money Go?”