Home Business Failures

Many home businesses never make it past the first year and have to officially close. You must file papers with the state & federal government offices if you obtained a Federal ID number when you opened. Some of the reasons are a lack of focus, passion for the business and not working the hours required to make it successful. If you want to have an ongoing business you must treat it like a real business.

Some people just start as a part time hobby and it never gets beyond that concept. They won't do the marketing necessary to grow it and service any customers it has. So by being at home other priorities can overtake the time for the business. Starting a home business can be very successful if you invest the time and energy to grow and focus on your goals.
More longer articles for reprint at www.idealetter.com

Restaurants Are Retail Stores

Restaurant sales in the U.S. are over $500 billion a year. More business and working people are visiting their favorite eating places because of busy schedules and other time consuming activities. The location of a restaurant will attract a first time patron and impulse customer to stop in and enjoy a meal.

But it's the food service and overall value that keeps them coming back. People will go out of their way to patronize a restaurant that they really enjoy and can afford. Decide who your best target customer is and create an enviornment that attracts those customers the first time and for repeat visits.
More in my upcoming book, "The Smart Guide to Business Start-ups" due out in 2011

Franchises and the Economy

Studies shoow that approx. 40% to 45% of all retail sales in the U.S. come from the franchise industry. One out of every four businesses in the U.S. is a franchise and most franchise companies have fewer than 100 units. The average length of a franchise contract with the franchisee is 10 years and is usually renewable. The average royalty on sales is between 3% and 6% regardless of profitability. A franchise will work for most people if they follow the proven plan of the business. After all that's why you bought it in the first place, isn't it?

They Meet Your Customers

Your front line employees in a retail, office or even an online business can make a big difference in customer experience and creating loyalty and future business. Take extra care when hiring these important front line people in any type of business. They will be the first impression that people see and hear when they contact your company. A hiring mistake here can seriously harm the sales, profits, loyalty and word-of-mouth publicity that you need to succeed and grow your business.
Many more ideas about loyalty in the new book, "90 Days to Success as a Small Business Owner"

Snuggle Up at the Mall

When scouting for a retail space at the shopping mall consider one that's close to a large anchor store. These big stores always attract many shoppers who will pass by your entrance on way to the larger store. That gives you free exposure to more potential customers who may not have found you otherwise. It doesn't really matter what type of business the anchor store is in, as long as they have a lot of shoppers who may also stop and browse at your business. Even if you lease a short term seasonal space always try to snuggle up to the Big Guys for that extra free exposure. More ideas in our monthly Idea-Letter (since 2002) at www.idealetter.com

How Many Are There?

According to the research firm IDC there are about 35 million home-based businesses in the United States. The US Census and US Bureau of Labor statistics estimate that there are approx. 20 million home-based businesses. The SBA says that the number of US households with a business exceeds 12% of all households. Some of these may be hobby-type businesses but they are still big numbers and growing each year. Starting at home is a great way to test if your business idea will work and can grow in the consumer or business world.

Your Business Leasing Agent

"Your" is the key word here because you want to work with someone who is not associated with any specific property. Their loyaly should be 100% to you and try to talk you into anything. They should have your needs, wants and iinterests as their Number One priority. A leasing agent is very helpful to work and they find properties that you might not otherwise see, plus they are free to work with. Always ask if they are working independent and willing to show you as many commercial spaces necessary until you find the one that works best for you. They can be a real asset in your search and can also negotiate the lease in your favor with the landlord. Find one that you are comfortable with and stick with them until the search is done. More ideas about setting up a business in my new upcoming book "The Smart Guide to Business Start-ups" due out in 2011.