Vending machine businesses are a unique combination of product and service-based operations. They’ve stood the test of time and are marked by rapidly progressive and innovative technology. You will need to evaluate vending product options, location, investment and profit margins, and sales channels before you get started. Having a clear business plan and understanding the…
About the Author
What Is a Business Philosophy + 19 Key Examples
A business philosophy is a set of guiding principles that a business strives towards to reach its ultimate goal. It encompasses the business’s values, grounding it through ups and downs. It should align with the brand’s personality, mission, and vision. It underscores the actions, decisions, and culture within the business. You want to make your…
210 Small Business Statistics for 2021
Understanding and interpreting small business data and statistics can be the key to breaking into the small business marketplace. We’ve compiled more than 210 small business statistics to help you make an informed decision around starting a small business. Keep in mind that most of the data collection in 2021 has been greatly impacted by…
108 Best Business Ideas to Make Money
You may be dreaming of owning your own small business but don’t know where to start or what to choose to launch. We evaluated business ideas that anyone could realistically pursue with some training, experience, and startup capital. We also considered mostly low barrier, high-return businesses with low-cost and high-yield. Most of these business ideas…
Buying a Business in 8 Steps + Free Check List
Buying a business and starting a business are two opportunities that budding entrepreneurs may want to consider. In the case of buying a business, you’re taking slightly less risk than starting a business from scratch. Bear in mind that you’re buying the business for its value at that time. Also, know that purchasing a business,…
Pros and Cons of an LLC
A limited liability company, or LLC, is a common business structure among startups and small businesses. In this case, the business is owned by its members. The business structure mainly affects legal liability and taxation, but in many ways, it can influence the very core of the business model and its daily operations. The main…
10 Tips for Naming Your Business + Free Business Name Generator
We created a business name generator to help you get started with brainstorming around business names. Simply enter your information below to get dozens of possible names for your new venture. We also put together tips that can help you on how to choose the right name for your business. Business Name Generator Terms Below…
How to Determine Foot Traffic & Choose a Business Location
When choosing a business location, you may have heard that location is everything. However, there are many factors that play into this strategic business decision. Key data points that influence this choice include foot traffic, walkability, local demographics, and community data. Foot traffic is an important indicator in determining business location, facility location, or service…
What Is a Corporation & How Do You Form One?
A corporation is a legal entity and business structure that is completely independent and separate from its owners. Corporations can make a profit, be taxed, and are legally liable. They offer the highest level of protection for its owners from personal liability but are a more expensive formation. Corporations make sense for high-risk businesses and…