Chapter 1 Getting Started
How to Start Your Business
Opening any new business requires long-range planning. Having a plan is like having a road map for a long trip. In this case the road map is a business plan. It helps You think about your project in an organised way. The plan is really a way to organise your thinking. As you work on one section, it modifies the others.
People who develop a business plan usually refer back to it over and over again over the years. It is indeed a roadmap to the future! In addition, A business plan shows your professionalism and improves the chance of a loan. Read a lot more about business plans in our eBooks.
No matter what business you enter, it is important to know as much as possible about it before you start.
Another excellent source of technical information about making ice cream is the website of the University of Ugelph: http://www.foodsci.uoguelph.ca/dairyedu/ TAGS: ice cream business Restaurant design restaurant equipment ice cream supplies restaurant start up Ice cream manufacture Ice Cream School how to start restaurant business
Benefits of Franchising
Franchising has several powerful benefits. First, the franchisor is successful. They have avoided and/or made and survived many mistakes, which they will be sure you don’t make. We firmly fall into the “made them all” category—and we remember them ALL.
You get a very clear idea of cost before you invest.
You get to meet the people who will support you and decide if you like them.
You get the training, support, marketing, branding, ingredients and machinery you need without having to experiment. TAGS: ice cream business restaurant franchisee how to start a restaurant business ice cream franchise Ice Cream School start a restaurant ice cream training
The Advantages of our Franchise
Dream Cones is different because our franchisees make as well as sell ice cream. The product, gelato tastes and looks significantly better than mass-produced ice cream. It does best in upscale malls or areas where people with some money congregate. You don’t get the massive brand identity as Baskin, but you do get a lot for your small investment. And, we do not charge a royalty fee or commission.
Whether you choose our franchise or another, franchising has a lot of advantages and you should research the proposals of various franchisees before making a decision. TAGS: ice cream business restaurant training restaurant franchise how to start a restaurant business open a restaurant restaurant start up ice cream franchise Fast food franchise
Choosing a Corporate Entity
Another early decision to make is about your corporate entity: what kind of legal structure you should operate under? Here are the most common ones:
Sole Proprietorship is owned and run by one person and there is no legal distinction between the owner and the business. The owner receives all profits and has unlimited responsibility for all losses and debts. T.
A limited partnership has at least one or more “limited” partners who are investors. The general partner takes all the risk.
Each partner has an equal voice in the management of the company. But all of the partners are liable for their own debits as well as debits or claims against the company. The profits once disbursed are declared income.
A Limited Liability Company (LLC)
An LLC is not a corporation. but liability is limited. Each individual can just claim the profit as part of their personal income. This keeps the paperwork much simpler. More flexible than a corporation. Well-suited for companies with few owners.
There are many different kinds of corporations but their main benefit is that liability is limited to the assets of the company unless gross or criminal negligence can be proved. Shares of the company can be sold or divided among the principles and the company. TAGS: ice cream business restaurant training restaurant franchisee how to start a restaurant business start a restaurant how to start restaurant business restaurant start up costs ice cream Batch Machines