Updated on August 10, 2017 by admin
Running a business is a difficult process and one which is constantly fraught with unexpected financial difficulties. Balancing acts are constantly required to ensure there is enough money in the business coffers to cover wages, rent, tax and other regular bills, as well as stock and equipment purchasing.
For all businesses, one of the key factors of success involves ensuring the quick release of funds in order to enable further purchasing or investment decisions. If funds are tied up rather than available for use, then the entire business process can screech to a halt.
One of the most common problems in business usually occurs when large sales are successfully made and the work is invoiced to the client, but payment is not immediately forthcoming. This means that there is a lot of cash tied up in sales ledgers which are not available for use on other projects such as restocking. This is an all too common situation which can prove disastrous to many companies – especially smaller businesses and start-ups who are usually the least able to effectively deal with these types of situations due to generally low levels of liquid assets in the first place.
This has lead to the creation of a number of business and sales financing products by larger institutions and specialist business finance organizations to fill the gap in corporate finance. These days, many banks can provide business banking services such as factoring, invoice discounting, and stock finance to enable their clients to free up many of the assets that they normally have access to for working capital.
Sourcing a financial institution to deal with the recovery of funds tied up with stock or invoices and to help deal with sales ledgers can enhance a business on several fronts. Not only does the company not have to worry about chasing up debtors, but the money is quickly made available for reinvestment; and the risks of suffering from bad debt are significantly lowered, as it can become the province of the factoring company to pursue reticent debtors. Factoring companies will often also make available additional debt recovery litigation services if they should become required.
While some businesses may see the costs of using sales finance services as cutting into profit margins, the benefits of having funds made accessible for use towards working capital – rather than sitting with inaccessible funds which do not for the company – can prove to be invaluable in enabling company growth and stability.…
Updated on August 10, 2017 by admin
Corn roasting is a simple yet very profitable small investment business. The successful corn roasters make full time living working just the summer months.
To start a roasted corn business you will need to acquire permits and business licenses from the health department and from the state. The following is a typical checklist to start your business.
1. Decide the size and the scale of the operation.
2. Decide on the menu for your concession business.
3. Purchase your equipment and tools.
4. Register your business.
5. Apply and obtain all the required licenses and permits needed to run a food concession business.
6. Secure events and have fun running your concession stand.
Permits, Licenses, and Inspection
Every state has laws governing business licenses and permits. Most likely, you will have to register your business with the state agency, so you can do business in the state. A tax ID number, business license number, and tax registration number can be issued to your business, depending on the state in which you are operating. You should verify with the city or county that the business location is zoned for that activity. You must have commercial liability insurance, both for your business and for your vehicle and trailer.
Health Department and Food safety
As a business owner and a food worker, you will be preparing food for other people. Contact the health department of your county or state to receive a copy of a food safety guide that will help you greatly in learning more about food safety. Roasted corn is considered a less hazardous food, but if you are going to sell potatoes and turkey legs you may have to pay higher fee.
Start-up Costs of a Corn Roaster Business
Brand new corn roaster with warranty: 10,000-$12,000.
Used corn roaster: $5,000-$8,000.
Additional equipment and accessories: $1,200-$2,000.
Used van or truck: $2,000-$10,000.
Food cost for first two events: $300-$1,000.
Event sign-up fee: $800-$3,000.
Fuel, utilities, and miscellaneous: $200.
Equipment Required to Start a Corn Roasting Business
A professional corn roaster, minimum 200-500 corns per hour.
Hot plate for melting butter
Steam table for storing cooked potatoes and turkey legs.
Two 20-lb. propane tanks
Commercial quality tent
Hand washing unit (portable) very easy to assemble one
Mics. Little things
Google “Corn Roasters” and search for companies that will help you get started before buying the equipment if you are strapped for cash. One of the company Texas Corn Roasters help.
How to Find Events and Festivals
There are many sources for finding festivals and events, such as your vendor friends, the local Chamber of Commerce, auto racing, fairs and festivals, flea markets, rodeos, and theme parks. The Internet is one of the greatest sources for finding events. Many good sites provide this information. Always send a professionally done proposal with your application if you want to beat the competition.
Suppliers and Producers
Suppliers and produce wholesalers are your key to success in this business. You cannot afford to buy …