Those who are considering setting up their own business do so for many reasons, uppermost of which is to fulfil the ambition of becoming their own boss. However, building a brand and developing that trust with potential customers takes time and effort, and with bills to pay in the meantime a budding entrepreneur cannot go for too long without earning a sustainable income. One reason franchising is a popular way to start a business is precisely because you are working with an already-established brand, one with its own culture and way of doing things. With a franchise, you have a name behind you and a ready-made customer base.
Franchises exist for many lines of business, but one popular route into franchising is through the fast-food industry. Using that as an example, you see franchised branches of fast-food outlets such as McDonalds or Subway in every large town nowadays. The new outlets invariably do succeed, because of their nationally-known presence. This makes for more effective marketing of the business; when a new franchise of a well-known chain is opening, word of mouth in the local area will spread quickly since everyone will have heard of the chain. Because of this, it is much easier to establish yourself than if you were to set up, say, a sandwich bar under your own name.
To get involved in a large franchise such as this does require a significant investment; that said, a bank looking to lend for a new business owner may well be more inclined to lend when the business is a well-known one, the branding, awareness and customer base is already out there and a bank will consider a franchise to a big name more likely to succeed.
One other thing that should be considered is how much support you would receive from your company – for a large fast-food chain, the support network is likely to be very extensive, with training provided by the company and a nationwide network of franchisees able to offer advice to a newcomer, the franchise owner can be better able to respond to the challenges of running a business.
If you are considering going into business with a fast-food franchise, you may wish to look at this site which gives a brief overview of some of the best-known chains in the industry.
Photo: Ronnie Soo
The Chancellor of the Exchequer, George Osborne, said in his Autumn Statement this week that the austerity measures taken by the UK government will need to continue until at least 2018. The measures, introduced shortly after the current Coalition government took office in 2010, were originally planned to last five years. However, as some economists had predicted, the policy would necessarily have to be extended.
Image: hm-treasury.gov.uk. Licensed under The Open Government Licence 1.0
Economists are now saying that a 'black hole' of £27 billion in the UK's finances will need to be plugged by 2017-18, meaning that cuts will be made in pensions and benefits, while taxes will rise still further. That all adds up to years more pain for the ordinary citizen, and that is before anyone has factored in the inevitable rises in fuel costs, energy bills, and food. The question is, will the austerity measures actually work?
As previously discussed on this blog, the government is borrowing more money than it can raise in taxes, via 'gilts' – bonds which, after a certain period of time, have to be repaid in full. The only way that the government can meet its existing debts is by raising more of these gilts, in a nutshell they are borrowing from Peter in order to pay Paul. Given that there appears to be this never-ending cycle of debt, which is repaid only by borrowing even more money, it is difficult to see how any government can get out of this situation. We can therefore expect austerity for years to come, almost certainly beyond the revised end date of 2018 and regardless of which party is in government, this will have to be addressed.
It is therefore clear that the majority of the population, who have worked for all their lives and paid their taxes, cannot expect to be able to retire on the government pension when they reach retirement age. Already some countries have pushed back the retirement age, and it is very likely that the same thing will happen in the UK. So, with the goalposts being moved further and further back, what can people do?
One thing is not to become reliant on just one source of income. People working a 9 to 5 have only that one income stream, and should their job disappear they would be in a very sticky situation indeed. With the internet, there are many other opportunities for people to earn money in their spare time, or even passively. Ideally, one needs several sources of passive income, which will earn for them while they get on with their daily lives. For those looking to take back control of their lives, one such way of doing so is linked here.
However you choose to do so, it is vital that you take control of your own future, since it is clearer than ever that the conspiracy against your money is going to mean that unless you take action, you will be left high and dry by the government which is supposed to serve you.
With the end of 2012 fast approaching, you may be considering your options for 2013. More and more people are becoming aware that it is possible to earn a crust online, and if you are still in a regular 9 to 5 job you may be wondering how much longer that will last. If that 9 to 5 is your only source of income, you should definitely be considering how you can add extra income streams so that you have something to fall back on should the worst happen. Fortunately, there are many options for you to look into, and we shall go over just a handful of these in this article.
Affiliate marketing is a popular method of making money online, and there are many large companies such as Amazon who operate such a scheme to reward their affiliates. The company pays the affiliate based on the amount of customers, or visitors, the affiliate can bring in via their own marketing efforts. There's nothing to stop you becoming an affiliate for many companies, but do your research to see which offers the best rewards.
If you have a website already, and it is getting a decent amount of traffic, why not monetize it? Advertisers would love to appear on your 'virtual billboard' and put themselves before your visitors. One such online advertiser who pay you to advertise is Banners Broker; you can find out more by clicking here. Online advertising can be in the form of banners, or Flash animations, or even 'overlay' ads which you have to close by clicking the 'X' in the corner. In addition, how you are paid could be dependent on clicks (Pay-Per-Click), or impressions, i.e. when the advert is 'served' on your site. If possible, try and make it so that the advertising which appears on your site is relevant to the content you put on the site. For example, if your website is to do with motoring, automobile adverts would be a good fit for the site. Again, research into which advertisers would be best suited to your website.
Many companies offer rewards for people who take surveys online. Surveys are valuable to companies since they help to define target goals, from people who are likely to be using their products or services. The slight downside to this is that filling out a large number of surveys can take up a significant amount of time, however if you are accustomed to that 9 to 5 role, you may find this a more productive use of the same hours. Once again, do your research.
Are you a skilled writer? Online blogs are always looking for contributors, since as with all websites, content is king. Some may pay by word and others by contract or project, and it may be worth looking at some of the more established blogs which are covering a topic in which you have knowledge.
Alternatively, if you are a keen photographer, consider submitting your pictures to stock photography sites. Photos for presentations, or for company websites are always in demand, and if you were to submit your work to a stock site they can match images to brands.
These are just a few suggestions to help you get started in making money online, you could work from home or wherever you choose. Please follow this link to get even more ideas in earning money online.
Image courtesy of Ambro / FreeDigitalPhotos.net
An article published in UK newspaper The Daily Telegraph reports that the pensions system is too complicated for ordinary people to understand, and that 40 percent of those who do have a private pension admit that they have no idea what their retirement income is going to be.
The research was carried out for the UK government's Department for Work and Pensions (DWP), and the minister for pensions, Steve Webb, has said that the complicated nature of the pensions system is putting people off saving for their retirement. Mr Webb said that the new 'auto-enrolment' scheme, which makes it obligatory for UK companies to enrol their staff into workplace pensions, will help to address this problem. The DWP report also showed that 70 percent of people enrolled into such a scheme already would be likely to remain in it.
Image courtesy of chainat / FreeDigitalPhotos.net
From personal experience I have a few issues with this: I spent several years working for a large financial organisation myself and was a member of their scheme. However, my department was 'outsourced' to a completely different company, and that meant enrolling into a new scheme or finding an alternative. The existing scheme I was in was, and remains deferred – I cannot add to this and will get only a small amount from it when it does mature. The other problem is one we're all familiar with: job security. I was made redundant from that role some time after the outsource took place, and those who have lost their jobs in similar circumstances will be wondering, what will happen with the pension that they have been paying into? Will it be worth collecting in years to come?
The point is, with job security so fragile in this day and age, the working person simply cannot rely on paying into a company pension, since there's a great chance that their job will be cut and they will have no income to pay into any scheme anyway. Whether you are still i a regular 9 to 5 job or whether you have been looking to do something for yourself, the only way to ensure your future is to take control of it for yourself. The best way of achieving this is to create multiple income streams, ones which will earn for you while you go about your day. Numerous opportunities exist in the Internet age and you owe it to yourself to take a look at what is out there. Others are already seeing the benefits of this approach and are heading down the path to financial freedom.
Whichever you choose, do your due diligence, talk to people already in the scheme which you are looking at, and make an informed decision whether it is for you or not. If not, there is bound to be something out there which is suitable for you and your busy life.
One such opportunity of which I am a member is linked – please follow the link for more information. See you on the inside?
More and more people are becoming aware that their retirement plans are likely to evaporate, and a news report from earlier this week has confirmed this. In an interview with Goldman Sachs CEO Lloyd Blankfeln, the banking supremo spelled out that people's expectations for retirement would "need to be lowered", meaning that they are not going to get what they think they will get when they reach retirement age. Controversially, Blankfeln described as "entitlements" the pensions which people have paid into over a period of years, and he insisted that these "entitlements" needed to be "slowed down and contained". Blankfeln, who was reportedly paid in excess of $16 million in 2011, said on CBS news that "Social Security wasn’t devised to be a system that supported you for a 30-year retirement after a 25-year career."
Image courtesy of Stuart Miles / FreeDigitalPhotos.net
We are all aware that there is a large deficit which needs to be addressed, but the basic problem regarding the deficit comes from the banks themselves. In particular, Goldman Sachs, who had net earnings of $4.4 billion in 2011, are one of the leading banks which sells bonds to the U.S. government and charges interest on them, which has to be paid for by the taxpayer. When you consider that Goldman Sachs itself has benefitted from bailouts from the Federal Reserve, to hear their CEO tell the taxpayer that he or she will simply have to work longer in order to pay off the debt that they themselves helped create, is galling in the extreme.
As has been asserted numerous times on this blog, the only way to ensure your own financial future is to take control of it for yourself. It is now clearer than ever that the system which is supposed to provide for us in our later years, when we can no longer work as we once did, is heading for failure. The conspiracy against your money which has been discussed here before, is no longer hidden from view – it is in plain sight.
The video featuring the interview with Lloyd Blankfeln can be seen here:
If you want to make the first move to ensure your path to financial freedom, please follow this link and I will see you on the inside!
A report published this week in a national newspaper tells readers what many of us have known for a long time, namely that the value of our pensions is in freefall. According to the article, printed in the UK's Daily Telegraph, research has shown that the value of annuities has plummeted drastically, by seven percent in just three months. Annuities are bought from the proceeds of a pension pot as he or she approaches retirement. These will determine what his or her annual income will be for the rest of their life. However, according to the article, if you have a £50000 pension pot, that means you can buy an annual retirement income of £2579. Only three months previously, in July 2012, that same pot would have bought an annual income of £2778. The National Association of Pension Funds, representing the pension industry, has said that annuities have "taken a hammering".
This is further evidence, if it were needed, that the Bank of England's Quantitative Easing (QE) programme (essentially, creating money from nothing) is damaging the working person who is trying to save for his or her retirement. The QE money is then used to buy government bonds, or gilts. However, if the demand for gilts increases, the interest rate (or yield) paid on them is forced downwards. Pension funds are invested in gilts, therefore when the interest rate decreases, that affects the annuities paid out. With inflation remaining high, and interest rates on savings remaining stubbornly low, not to mention the spiralling cost of utlilities such as gas and electricity, the scenario is bleak for those in middle age now who will be looking at retirement in the next ten to fifteen years. Quite simply, there is a strong possibility that people just will not be able to afford to retire, if they are putting their faith in a conventional pension plan.
The article advises people to scour the market for the best deal, however when you are putting your trust into financial institutions which have already proved to be unreliable at best, you are likely to find yourself struggling whatever plan you choose. In short, the conspiracy against your money is once again laid bare for all to see, and it is a good time to educate yourself about what is really going on in the financial world, and why it is that your costs always go up, yet your income never does. Educate yourself and learn how you can better protect yourself against the financial crisis now upon us. What is happening now is only the beginning, and the time to arm yourself with the knowledge on how to protect your financial future is now.
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Image courtesy of David Castillo Dominici / FreeDigitalPhotos.net
The long-predicted third round of quantitative easing by the US Federal Reserve was announced last week by Fed chairman Ben Bernanke. The move surprised even some who were expecting more money-printing, since the Fed 's new stimulus package meant that it was to buy mortgage-backed securities at the rate of $40billion a month for the foreseeable future. The Fed say that this policy will continue until job prospects show a sustained recovery, yet all previous QE rounds have failed to create this effect.
Effectively, the Fed is creating yet more money from nothing and lending it out, but this time it is doing so on an open-ended basis. The implications for the dollar are clear; with even more of them in existence, what's already out there is worth less, meaning savers are to be hit hard. What this means for those with a pension is frightening; when that pension matures it is likely to be worthless. So why are the Fed doing this?
They say it is to stimulate the economy, by encouraging more lending for businesses. But according to some commentators, the past rounds of QE merely ended up as excess reserves at the banks, they are not lending it out as expected. Meanwhile, people are more reluctant to borrow money in a recession and are instead concentrating on paying down the debts they already have. So if nobody is spending, and banks are not lending out to businesses, who is benefiting from this move?
Inevitably, there will be people who turn to precious metals in order to preserve their money. Since you cannot print gold or silver, it is little surprise to find that the price of both has shot up in the last five years. However there are whispers that the US government may move to confiscate any gold held by private individuals in order to shore up its currency, and this is not unprecedented in the history of the United States. In 1933, the government ordered all citizens to hand over their gold to the banks (any member of the Federal Reserve, in actual fact) and for over 40 years, US citizens were not allowed to hold any gold as protection against paper dollars. Only in 1974 did the US allow its citizens the privilege of being able to own gold once again, although it retained the right to revoke this in a time of emergency. It is very possible that the current crisis will be declared an emergency, in which case gold could be taken from citizens once more.
While it is certainly true that the governments cannot simply create precious metals the way they do money, people should be aware that there is a possibility that their precious metal assets could be seized if it is deemed a time of emergency. Consequently, those looking to protect themselves from the economic collapse may well want to look at other ways of protecting their money, at other assets that cannot simply be created from nothing.
Image: FreeDigitalPhotos.net
The title is a line taken from 'Revolution Calling', a song by rock band Queensrÿche from their acclaimed 'Operation: Mindcrime' album of 1988. It was something that came to me when I discovered this infographic, from blogger 'Frugal Dad'. He points out that just six giant conglomerates control over 90 percent of what is broadcast, or published, to American citizens. It wasn't always that way, as the infographic makes clear.
Source: Frugal dad
Some things in that infographic are truly mindblowing: for instance what 277 million people read, hear and see is controlled by just 232 people. The implications of which are staggering; an editorial decision by just one executive on what to broadcast (or NOT broadcast) will shape the opinions of millions. That's before I touch on the numbers in terms of revenue. The advertising alone must bring in a phenomenal amount of income.
Here in Britain the situation is not much different; yes there is the nominally-independent BBC but in terms of commercial television, where once Britain was served by a federal network of independently-owned regional stations (the ITV network), nowadays that network is controlled by just one company, which has itself been targeted for takeover by a larger overseas conglomerate. Radio is similarly affected; almost all of the commercial stations serving the major cities are owned by a single media empire. Regarding newspapers, there has been a lot of controversy in Britain over the stranglehold News Corp holds over major titles, and the seemingly cosy relationship its senior staff holds with politicians on both major parties.
When so few people can have control over so many people, in terms of controlling what they see and hear on the news, what they watch for entertainment, what they listen to, it is easy to see how tempting it is to push people into an agenda of the conglomerate's choosing. What if they are indeed working in conjunction with a government, instead of its journalists investigating possible malpractices? The implications are very worrying, and to close this I will quote the very next line from the aforementioned Queensrÿche song:
"But now I see the chaos everywhere I look; who do you trust when everyone's a crook?"
A leading economics expert in the US believes that a coming currency crisis will mean that the United States will need to return to the gold standard, meaning that the dollar will be backed by the precious metal once again.
Peter Schiff, chief executive of Euro Pacific Capital and a long-time critic of the Federal Reserve, said that although politicians may not want that to happen, the public will demand it because the situation (Schiff predicts that a currency crisis is imminent) will require it. Speaking to King World News, Schiff said the currency crisis will come about as a result of the Federal Reserve's efforts to stimulate the economy with successive rounds of quantitative easing.
"We are headed for a currency crisis, and the only way we’re going to stop it is by putting real value back into the paper dollar. So we have to tie it to gold," he said. Schiff predicts that a further round of QE is imminent, despite denials from Fed chairman Ben Bernanke.
"QE3 is coming. You know we’ve got a phony recovery, so it’s going to fail. So we are going to get more QE. It’s not that we need it, but if we don’t have QE3, then we are back in recession," Schiff added.
With the price of gold seemingly on a relentless rise, would this be a good thing? Some opponents claim that because the supply of gold is not growing quickly enough, the economy cannot grow without the corresponding increase in currency to facilitate trade domestically and internationally. If that were to happen then trade would shrink (leading to a reduction in living standards) or deflation would follow. However proponents claim that because of the very fact that there is a finite supply of gold, and it cannot just be created from nothing, confidence in the dollar would be restored. If people lose faith in their currency, then it becomes worthless, claim those who would like to see the gold standard restored.
Is returning to a gold standard the answer, and if this were to happen, what would become of those people who have been investing in gold and silver over the past few years – would that gold be taken from them by a government edict?
Is Peter Schiff correct – is a currency crisis imminent? Whatever happens, more people are beginning to realise that things cannot continue on the same path as before. More people are educating themselves about money, and how decisions made behind closed doors affect them. Those who are more educated about finance will be in a better position to prosper when the crisis predicted by Schiff and other economic experts happens.
Image: FreeDigitalPhotos.net
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+Ronnie Soo
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Former IT technician turned internet marketer and blogger, with an interest in the ever-changing world of search engine optimisation and the use of Social Media for business.
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Former IT technician turned internet marketer and blogger, with an interest in the ever-changing world of search engine optimisation and the use of Social Media for business.
Copyright © 2011 Ronnie Soo. All Rights Reserved.
