Many business owners, however, are under the mistaken impression that they are completely protected from personal liability by filing a Certificate of Incorporation for a corporation. This is not true. The mere process of incorporating does not completely protect the business owners. To lessen the likelihood of such personal or shareholder liability, you should make sure to adhere to certain procedures:
Why start a small business? Some people want to spend more time with family, and starting a business allows them to do that. Some find it exhausting to be outside the house all day, dealing with traffic, co-workers, meetings and interruptions. Some people hate answering to a boss all the time — needing permission to schedule a dentist appointment or take the day off when they’re sick. Some people are unmotivated by the security of a regular paycheck and prefer the challenge of the direct rewards or losses that entrepreneurs see from their efforts.
The staff at Key Commercial Capital was wonderful. They made sure to explain all our options in detail and were always interested in the best for us. They verified our documents before submitting for approval to ensure everything was in order and that the application and closing process was as smooth as possible. They were also very responsive and available at all times. I will certainly be back on the next opportunity.
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Bank of America can work with you to design a special lending program to help you grow and better manage your business. This alliance enables us to provide customized financing solutions, based on a thorough understanding of your particular business model. Plus, you’ll have access to an underwriter who understands your business. We offer a variety of program options including:


If you want to separate your personal liability from your company's liability, you may want to consider forming one of several types of corporations. This makes a business a separate entity apart from its owners, and therefore, corporations can own property, assume liability, pay taxes, enter into contracts, sue and be sued like any other individual. One of the most common structures for small businesses, however, is the limited liability corporation (LLC). This hybrid structure has the legal protections of a corporation while allowing for the tax benefits of a partnership.
Despite these indicators, financing remains a problem for potential franchise owners.  According to Entrepreneur magazine (January 2013), there’s still an 18 percent lending shortfall in the franchising industry. In a bid to boost franchise ownership, many franchisors are taking matters into their own hands and offering financing programs of their own. Meineke, The UPS Store, Gold’s Gym, Masasge Envy and Instant Imprints are just a few examples of franchisors now offering financing to qualifying first-time and multi-store franchise owners.
Now that you have completed our QuickBooks Online tutorials, you should be convinced that you don’t have to be a certified public accountant or have an accounting background to learn how to use QuickBooks. You should also know that QuickBooks is a much better solution than using a Microsoft Excel spreadsheet to keep track of your income and expenses.

Length of lease term. Landlords are typically willing to make concessions for longer-term leases. However, your company’s needs may change and you could find yourself locked into a lease for an office space that is too small, too big, or with rent that is above-market if demand for space subsequently declines. Try to negotiate a shorter-term lease with renewal options—a two-year lease with a two-year renewal option, for instance, rather than a four-year lease.


Over 99 percent of all business entities in the US are small businesses, according to The SBA Loan Book: The Complete Guide to Getting Financial Help Through the Small Business Administration. These businesses represent over half of the private workforce and the private-sector output and over 40 percent of all private commercial sales in the United States.
Fundation (see our review) is another high-quality alternative lender that provides capital to franchise businesses. Fundation has some of the lowest rates and fees you can find outside of a bank or credit union, offering up to $500,000 deposited in your account within a couple weeks after applying. However, the borrower requirements are more stringent than those for other some online lenders, as you’ll need good credit, one year’s time in business, and at least three full-time employees.
The staff at Key Commercial Capital was wonderful. They made sure to explain all our options in detail and were always interested in the best for us. They verified our documents before submitting for approval to ensure everything was in order and that the application and closing process was as smooth as possible. They were also very responsive and available at all times. I will certainly be back on the next opportunity.
The ability to communicate effectively can be critical to landing customers, inspiring employees, and pitching to investors to raise capital. Most people are not very good at public speaking and many are even afraid of it. You must strive to overcome this fear. Consider working with a public speaking or business coach to improve your public speaking skills. Some of the most recognized entrepreneurs, such as Apple founder Steve Jobs, were known for being great public speakers.
This website contains information concerning the franchise businesses on our platform, including a franchise disclosure document, that are either provided by or based upon information obtained from third parties. We have not independently verified the accuracy or completeness of the information contained in the franchise disclosure documents or information obtained from third parties. We do not endorse or adopt this information, and we do not make representations as to the accuracy, completeness, suitability or validity of any information obtained from third parties and will not be liable for any errors or omissions in this information or any damages arising from its display or use.
Register your business with the Vets First Verification Program to be eligible for special opportunities to do business with the government. Small businesses that are owned and controlled by veterans and service-disabled veterans, and verified through the program, may also be given priority when competing for federal contracts. Learn how to apply, and find out which documents you will need to submit. You can also find VA-certified business counselors in your state for free help.  
I usually don’t provide referrals, but in this particular case it is definitely warranted. Karen jumped through hoops with multiple alternatives until we came up with a solution that provided what we needed. At one time i thought we were at a dead end, but learned that Karen continued to pound away until the right solution surfaced. If you need someone to assist up front with your SBA loan, Karen is a perfect choice.
There are more than 28 million small businesses in the United States, making up a whopping 99.7 percent of all U.S. businesses, according to the Small Business Administration. When you consider some of the most popular reasons to start a business, including having a unique business idea, designing a career that has the flexibility to grow with you, working toward financial independence, and investing in yourself — it's no wonder that small businesses are everywhere.
ApplePie Capital can offer loans for borrowers that need financing in between an SBA loan and other expensive alternative loans. You must borrow a minimum of $15K to finance specific equipment, or at least $100K for any other needs. The interest varies depending on a number of factors, and Apple Pie Capital charges a one time 4.5% origination fee on all of their loans.

Rent and rent escalations. Some landlords will give free rent for the first month or two of a lease. Fixed rent over longer-term leases is relatively rare. Sometimes landlords insist on annual increases based on the percentage increases in the Consumer Price Index (CPI). If your landlord insists on rent escalations, try to arrange for a CPI rent increase that does not kick in for at least the first two years of the term. Then, try to get a cap on the amount of each year’s increase. If you have to live with a rent escalation clause, try to negotiate a predetermined fixed increase; for example, a rent of $5,000 a month the first year that would only increase to $5,200 a month the second year and $5,400 a month the third year.
To become an officially recognized business entity, you must register with the government. Corporations will need an "articles of incorporation" document, which includes your business name, business purpose, corporate structure, stock details and other information about your company. Otherwise, you will just need to register your business name, which can be your legal name, a fictitious "Doing Business As" name (if you are the sole proprietor), or the name you've come up with for your company. You may also want to take steps to trademark your business name for extra legal protection.
The challenge is even greater for franchise owners looking to open new locations. They must pay a “franchise fee” amounting to tens of thousands of dollars, and the aforementioned deductions begin as soon as the new location opens its doors. Combine these expenses with inevitabilities like new equipment or furniture and you can see why business loans are popular for franchises. Multiple large expenses can easily pile up at the same time, making it extremely difficult to raise profits or save money.
The International Franchise Association maintains a directory of franchises that are approved by the SBA to receive SBA funding. Each franchisor in the directory is required to submit a Franchise Disclosure Document (FDD) with information about its company to the SBA for approval. Working with a company that is pre-approved by the SBA will expenditure the process of obtaining an SBA loan for your franchise.
Thousands of people have become millionaires through their stock options (Facebook being one famous example), making this form of benefit very appealing to prospective employees. The spectacular success of some Silicon Valley companies and the resulting economic riches of those employees who held stock options have made Stock Option Plans a powerful motivational tool for employees to work toward the company’s long-term success.
If you're thinking about starting a business, you likely already have an idea of what you want to sell, or at least the market you want to enter. Do a quick search for existing companies in your chosen industry. Learn what current brand leaders are doing, and figure out how you can do it better. If you think your business can deliver something other companies don't (or deliver the same thing, but faster and cheaper), you've got a solid idea and are ready to create a business plan.
The staff at Key Commercial Capital was wonderful. They made sure to explain all our options in detail and were always interested in the best for us. They verified our documents before submitting for approval to ensure everything was in order and that the application and closing process was as smooth as possible. They were also very responsive and available at all times. I will certainly be back on the next opportunity.
Visuals – As Instagram is a visual platform, special attention has to be given to the visual aspect of your posts. As well as choosing a color scheme to match your brand, you should also use a consistent filter. Using the same filter for your posts will help users recognize your images. For instance, Madewell’s Instagram incorporates its color scheme for consistent images and branding.
Biz2Credit can help entrepreneurs secure franchise business financing through its network of hundreds of lenders willing to grant loans. We have helped secure franchise loans for the owners of Dunkin' Donuts, Johnny Rockets, Subway, and other successful franchisees. Veterans, which are increasingly becoming franchisees, can refer to Biz2Credit's page on franchise loans for veterans.
Keep in mind that your ability to negotiate an office lease is dependent on how much leverage you have. Do your homework. Are other companies vying for the same space? Has the space been vacant for a long time? Factors such as these may mean the difference between you calling the shots, or a landlord insisting on onerous terms throughout the lease process.

Instagram stories have been growing in popularity and now attract 300 million daily users. Instagram stories enable you to share a number of videos and photos and they appear like a slideshow. Instagram stories are only available for 24 hours. Instagram stories cater to mobile phone users who want engaging and informative content in as little time as possible. Used correctly, this format of Instagram videos and photos can help to drive engagement for your business. For example, the retailer, J.Crew, used Instagram stories to give followers a sneak peek at its pre-sale items.
SmartBiz (see our review) is a viable online loan option for franchise owners that want the security and low-interest rates of an SBA-backed loan, but with the ease and speed of an online loan. SmartBiz is the #1 marketplace for SBA 7(a) small business loans online, offering an SBA/online loan hybrid with low interest rates and long-term repayment terms. However, this lender is only an option for established franchises — you’ll need at least 2 years’ time in business to get a working capital or debt refinancing loan, and 3 years to be eligible for a commercial real estate loan.
To become an officially recognized business entity, you must register with the government. Corporations will need an "articles of incorporation" document, which includes your business name, business purpose, corporate structure, stock details and other information about your company. Otherwise, you will just need to register your business name, which can be your legal name, a fictitious "Doing Business As" name (if you are the sole proprietor), or the name you've come up with for your company. You may also want to take steps to trademark your business name for extra legal protection.
Equipment loans. Small businesses can buy equipment through an equipment loan. This typically requires a down payment of 20% of the purchase price of the equipment, and the loan is secured by the equipment. Interest on the loan is typically paid monthly and the principal is usually amortized over a two- to four-year period. The loans can be used to buy equipment, vehicles, and software. Loan amounts normally range from $5,000 to $500,000, and can accrue interest at either a fixed or variable rate. Equipment loans can also sometimes be structured as equipment leases.
Dana is a founding partner of TechLaw, LLP, where his practice focuses on trademark prosecution and licensing, copyrights, and business transactions. He is also adjunct professor of law at the University of San Diego School of Law, where he has taught IP Survey, and helped launch the IP Law Clinic. His expertise includes a broad base of intellectual property law that covers copyright, trademark, patent, trade secret, and international intellectual property. Dana has filed, managed, and prosecuted thousands of trademarks over the course of his law practice career. He has represented clients in numerous trademark infringement actions, as well as cancellations, oppositions, and appeals before the Trademark Trial and Appeal Board.
Length of lease term. Landlords are typically willing to make concessions for longer-term leases. However, your company’s needs may change and you could find yourself locked into a lease for an office space that is too small, too big, or with rent that is above-market if demand for space subsequently declines. Try to negotiate a shorter-term lease with renewal options—a two-year lease with a two-year renewal option, for instance, rather than a four-year lease.
Start by learning about various franchise shops and restaurants in your preferred specialty. If you’re a fan of Panera Bread, for instance, go to the company’s franchise Information page and read up on the opportunity. If you need inspiration, Franchise.com keeps a running list of franchise opportunities, complete with a monthly featured franchise.
To start your application for a business loan, calculate how much money and what kind of loan you need. Then, gather the necessary documents, including a profit and loss statement, balance sheet, cash flow statement, tax documents, and a detailed business plan. Once you have all of your information, approach lenders, such as the Small Business Administration, banks, and credit unions, and complete the application for the best loan for your needs. Finally, wait to hear back from the lender and be sure to thoroughly review the terms of your loan.
Qualifying for an SBA loan as a new business isn’t easy. You generally need to have a strong credit score (ideally above 680), some collateral, and a 10-20% down payment. However, a large percentage of SBA loans go to franchises because lenders can easily access loan performance data for franchises and predict the franchise’s ability to pay back the loan.
Whether you're starting an online business or a brick-and-mortar model, figuring out how to start a business takes time and research. Starting a business involves planning, making important financial decisions and completing a series of legal activities, such as choosing a business structure. Before you can decide how you want to structure your business, you need to know what your options are. Each business structure has advantages and disadvantages, and choosing the right one depends on your unique situation. The most common ways to organize a business include, limited liability company (LLC), corporation, nonprofit corporation, partnership, limited partnership, limited liability partnership, and sole proprietorship. LLCs are a popular choice for small business owners because they offer personal liability protection with great tax and management flexibility, while incorporating a business protects your personal assets and is preferred by outside investors. LegalZoom has all the resources you need to start a business and maintain it. Whether you want to form an LLC or trademark a business name, LegalZoom offers services to help you get it done fast and affordably. LegalZoom can also help you obtain the necessary business licenses and permits for your new business. Get the peace of mind you need when starting a business by letting LegalZoom take care of the details while you focus on the parts of your business that matter to you the most. 

One of their loan programs is the SBA 8(a) business development program. According to their website, SBA’s 8(a) business development program is specifically dedicated to providing business assistance to entrepreneurs who are members of a socially and/or economically disadvantaged minority group who need help accessing mainstream economic capital. This program is divided into two sections and requires a nine-year commitment. The first four years are dedicated to development, and the remaining five years are a transition stage.


Starting a small business doesn't have to require a lot of money, but it will involve some initial investment as well as the ability to cover ongoing expenses before you are turning a profit. Put together a spreadsheet that estimates the one-time startup costs for your business (licenses and permits, equipment, legal fees, insurance, branding, market research, inventory, trademarking, grand opening events, property leases, etc.), as well as what you anticipate you will need to keep your business running for at least 12 months (rent, utilities, marketing and advertising, production, supplies, travel expenses, employee salaries, your own salary, etc.).
Having liquid assets, valuable collateral and a good credit rating will go a long way to helping you get a franchise loan. According to The Wall Street Journal, most banks will be looking for around one-fifth or 20% of franchise startup costs to come from the owner before considering lending options, and without a good credit score, most lenders won't feel comfortable extending a loan even if the proposed franchise is known for long-standing success.
In addition to building a relationship with the loan officer, you want to find out what exactly they need to see in your business plan. Go in with your plan already written and numbers in your head so you can confidently and intelligently discuss your business model, and ask the loan officer what specifically they want to see from a business plan. Take the time to revise your current business plan to match what the loan officer wants before you go back to the bank for your actual pitch.
If you identify areas of weakness, you’ll need to make a plan for dealing with them. If you don’t have a head for figures, perhaps you could partner with someone who does. Or you could hire an accountant, or improve your own skills by checking out some of our super-simple accounting tutorials or doing other training. If you’re no good at designing websites, hire someone to do it for you.
If you can secure a credit card in your company name and make purchases and on-time payments, you can get financing and start building good business credit at the same time. Of course, the credit limit, interest rate, and terms of payment will vary, and each bank or credit union will have eligibility requirements, so this option will not work for everyone.
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