How To Brain Storm Ideas For A Start-Up Business – The Entrepreneur’s Guide

Posted by admin in BusinessFeb 8th, 2011 | No Comments

So you want to create a business but what kind of business do you want?  What goods will you sell or what services will you provide?  Here are many ways you can go about brainstorming ideas for a start-up business.  That’s how great businesses find their start, with one good idea.

Look To Needs
If you want to start a business then you can begin by looking at what people need.  If you can supply something that people need then you will have an instant potential customer base.  They need it and you have it.  It almost does the work for you.

Look To Wants
You can also look at what people want.  People want to look better, to look younger, to be happier, to be healthier, to be more relaxed, and so on.  How can you give people what they want in these areas or any others you can think of?  The answer may just be your new business venture.

Look To Trends
This blends with the wants because people want to keep up with the trends.  Look at what is popular right now or what seems to be growing in popularity.  If you can get into the next big thing even before it gains mass popularity then you will be poised to have a booming business.

Look To Your Skills
While you’re at it, what skills do you possess?  If you can turn the skills that you already have into a business then you will not have to do the work of acquiring new skills along the way.  Or at least you won’t have to acquire as many new skills.  What do you do well and how can you get people to pay for that?

Look To Your Interests
Even if you do not yet have skills or general expertise in an area, that area could still be a great foundation for a business if you have a genuine interest in it.  Businesses that are a labor of love are that much easier because you will enjoy the long hours and hard work that it takes to get your business going more than if you randomly chose a business.  Look at what interests you and what you love and try to figure out how you can parlay that into a profitable business.

Look To Improve What Already Exists
You don’t necessarily have to come up with an entirely original idea.  Maybe there is a type of business or a product that you could improve upon and offer to the public in its improved form.  Many businesses have done what other businesses do but have been successful just by doing it better.

These are many ways that you can brainstorm ideas for a start-up business.  You just have to get creative and find goods or services that people are willing to pay for.  There are many great business ideas out there that need nothing more than enterprising individuals with clear visions to be successful.

Thomas Rheinecker is interested in informing people about how to get admitted to colleges in order to pursue a master of entrepreneurship.

debt consolidation-Top Ten Ways to Find Yourself in Bankruptcy – Debt Consolidation Help

Posted by admin in Debt ConsolidationFeb 7th, 2011 | No Comments

10. Not having a plan in case of emergency
A lot of people cut their budgets very close.  If you have you money portioned out precisely for your regular expenditures and you haven’t left anything in the budget for emergencies, how will you pay for repairs if your car breaks down?  If your house suddenly needs repair?  If you have emergency medical bills not covered by your insurance?  It is important to make sure you have a plan to cover emergency spending.  If that means cutting things out of your regular budget that may not really be necessary, make sure you do that.

9.  Spending money on luxury items you don’t need
This one should be obvious, but a lot of us violate this simple rule anyway.  When you see a new car, an article of brand-name clothing or piece of electronics equipment, ask yourself a couple of questions.  1) Is there money in my budget for this? And 2) Do I really need this?  If it’s an impulse buy, odds are first answer is no.  The second answer is probably no in any event.  Think about whether you’d rather have the item or financial stability.  

8.  Buying extravagant gifts for friends and family
This is basically the same as the previous item on this list.  The difference is that some people have a problem not with buying things for themselves, but with buying things for others.  Selflessness is commendable, but it doesn’t have to be as expensive as you might be making it.  It’s not going to do your friends and family any good for you to go bankrupt buying them extravagant birthday presents.

7.  Letting small expenditures add up
If your money is disappearing every month and you can’t figure out where it’s going, odds are you’re not keeping track of minor expenditures.  Say you take a trip to the grocery store to pick up a gallon of milk for three dollars.  While you’re there you pick up some ice cream, maybe a twelve pack of soda.  You spend three dollars on candy for the kids in the checkout line.  Swing through a drive-through on the way home to get some food.  Why not get the large for only a few cents more?   Each of these items individually may not be very significant, but by the time you get home, you may have spent – during you trip out for some milk.  If these sound like the kind of expenditures you might make without keeping track, that’s probably where your money is going.

6.  Not saving money
If despite your best efforts you find yourself owing more money than you expected, it can be a huge relief to realize you have some money saved up that can help gt you out of trouble.  Try putting a percentage of every paycheck into a savings account you never touch.  If something you didn’t expect rears up and you have to pay a lot of money, you may find that you can take care of it without declaring bankruptcy.

5.  Not keeping track of your funds
How much money do you currently have in your checking account?  How about your savings?  What have you put on your credit card in the past week?  If you don’t know the answer to all three of these questions, you’re probably going to wind up overspending.

4. Putting too much on your credit card
Credit card debt is a serious problem in this country.  One main reason is that people treat them as free money without really planning how they will pay off the money they put on them.  Another is that people don’t think about the interest rate they will have to pay on purchases on their credit card.  If you are making a purchase on credit that you could pay in cash, it may be better to use cash than to risk interest rates running away from you.

3. Letting late fees build up
Almost everyone is late with a bill from time to time.  What can really kill you is being late with your bills so often that late fees and surcharges start to build up.  Before long, the late fees you pay every month may be as large as any of your other bills.

2.  Ignoring bills
This should be obvious, but some people simply don’t take action.  If you don’t pay your creditors, they are within their rights to take collection action against you.  Most of them, however are willing to be lenient if you will simply talk to them.  A lot of companies will allow you extensions if you need them as long as you talk to them in time.  Give it a try.

1.  Spending more than you earn
Everything else on this list is derived from this one simple rule:  Know how much you make, and spend less than that.  It’s sounds simple, but it can fell complicated.  Once you start keeping track of you earnings and expenses, however, you’ll probably be surprised at how easy it becomes.

Debt Settlement / Debt Consolidation Help / Debt Settlement Services

business-Free Barber Shop Business Plan

Posted by admin in BusinessFeb 5th, 2011 | No Comments

Free Barber Shop Business Plan for Loans

Obtaining Business Financing

 

When obtaining a business loan for a barber shop business, it is imperative that you have a properly structured business plan that will assist you in showcasing how you intend to operate your Barber Shop, how the business will operate, how you intend to market the business, the anticipated financial results of your company, and how you intend to repay your debt obligations. This sample loan business plan will provide you with the framework that you need in order to acquire a business loan for starting or expanding this type of business.

 

Executive Summary

 

Introduction

 

When obtaining a business loan for a barber shop, it is imperative that your business plan has a clear and concise executive summary that provides an outline of what are seeking to accomplish, how much capital you are seeking to raise, the management biography of the business owner, and an overview of the anticipated profit and loss statements of the business. Here is an example of how the title paragraph should be written:

 

Barber Shop, Inc. (“the Company”) is seeking a business loan of 0,000 in order to launch the operations of a barber shop that will be based in San Francisco, California. The Company was founded in (Insert Year). The business was founded by Mr. John Doe.

 

Products and Services

 

In the next segment of the business loan and business planning document, you should showcase the products and services that you will be providing to the general public. For instance:

 

The Barber Shop will provide its customers with a broad range of barber shop services including traditional hair cuts for men, clean shave services, and sales of hair care products to the general public. The business will employ licensed barbers (as well as licensed independent contractors) that will render these service at the Company’s facilities.

 

Business Loan Terms

 

Now it is time to discuss the anticipated terms of the business plan that you are seeking. An example paragraph of how this is stated:

 

At this time, Mr. Doe is seeking a conventional business loan in the amount of 0,000. The interest rate, loan terms, and loan covenants are to be determined during negotiation. However, this business plan assumes that the business will receive a seven year business loan with a seven percent interest rate due on the outstanding principal balance.

Management Biography

 

Now that the summary of the business has been provided, it is time to provide a brief overview of the owner of the business. An example paragraph summing up the owner is as follows:

 

Mr. Doe is a highly experienced business person that has years of experience regarding the direct ownership and management of business. He will be able to effectively bring the operations of the Barber Shop to profitability while ensuring that the business loan’s payments and its covenants are met at all times.

Financial Statements

 

The most important thing to your lender when applying for a business loan is how you intend to repay the bank. In this section of the business plan, you should provide an overview of the finance’s of the business discussing the anticipated revenues, expenses, and profits/losses. You can also discuss the applicable collateral within the business plan that will be used to secure your business financing.

 

Expansion Plans

 

One of the most important aspects of your business plan is how you intend to expand the business over a three to five year period. Banks and finance companies always want to see that the business will experience a moderate to strong level of growth. This is especially true in business lending because as your business grows the cash flow that secures your business loan will decrease proportionality against your monthly credit obligations. An example of how this is stated is as follows:

 

The Barber Shop will continue to expand through organic means including increasing the Company’s advertising budget via the reinvestment into the after tax cash flows of the business. Additionally, if the business is highly successful then the Company may seek to establish additional Barber Shop locations after the third year of operations.

 

 

The Financing

 

Use of Business Loan Proceeds

 

In this section of the business plan you should focus on how the proceeds of the business loan will be used. An example of this would be as follows:

 

Barber Shop Establishment – ,000
FF&E – ,000
Working capital – ,000

 

Management Equity

In this section of the business plan you should discuss the percentage ownership of the business among the owners of the business. For example:

 

Mr. Doe will own 100% of the Barber Shop.

 

Board of Directors

 

When applying for business financing, the bank will also want to know who serves as the board of directors. For small businesses, usually the owner serves as the director of the business. An example of how this is worded:

 

Mr. Doe will be the sole director of Barber Shop, Inc.

 

Exit Strategy

 

Any bank or financing company is also going to want to know what you intend to do with the business over a set period of time. Many business owners will develop and expand a business with the intent to sell the company to a third party at a later time. When drafting this part of the business plan you should focus on what you intentions are in regards to potentially selling the business. This is often worded as:

 

Mr. Doe would most likely sell the Barber Shop to a third party for a significant earnings multiple. Barber Shops usually sell for approximately one to three times earnings given the financial strength of the business. In this event, the business would be sold by a business broker and the business loan sought in this plan would be repaid according to the covenants of the business loan agreement.

 

Products and Services

 

When developing a business plan that is appropriate for obtaining a business loan or other business credit facility you need to clearly showcase the services or products that you will be offering to the general public. An example of how this section is worded goes as follows:

 

As stated in the executive summary, the Barber Shop will specialize in providing a number of services that are commonly found among traditional barber shops. These services include hair cutting, styling, color treatments, shaves, and other services that are frequently rendered by barbers.

 

The business will also generate secondary revenues from the sale of hair care products.

 

 

Industry and Market Analysis

 

The Current State of the Economy

 

It is important to let your financial institution know that you are well apprised of the financial situation of the general economy when you are applying for a business loan. This is especially true in today’s environment where lending has become more difficult and will remain more difficult in the foreseeable future. Specifically, you should gear this section of the business plan analysis towards the industry that you are operating within. For example:

 

The current economy has remained difficult over the past few years. However, Barber Shops typically operate with a strong state of economy stability as no one has the ability to give themselves a haircut. This, coupled with the low pricing point of the Company’s services, will ensure the continued positive cash flow of the business. As such, the business should be able to remain profitable and cash flow positive in any economic environment.

 

The Barber Shop Industry

 

In addition to providing your business loan officer with an understanding of the general economy, it is important that you showcase that you have an equal understanding of the industry in which you are operating within. As such, you will need to provide you business loan institution of a brief overview of your industry and any potential changes that may affect the way that your company does business. An example of how an industry overview is as follows:

 

The cosmetology industry has a very interesting model of economics and profitability. Prices for haircuts can range from six dollars to six hundred dollars. Haircutters have the ability to enjoy prestige within their profession, and therefore the pricing and branding models can be structured so that two service providers can provide equivocal service and charge vastly different prices. This has caused the industry to have many different pricing models that vary among different target markets.

 

The prices for haircuts have an inelastic pricing model, and haircutters have enjoyed stable job growth and prosperity over the years. The prices of haircuts tend to grow at a faster pace than that of inflation. In 2002 Economic Census report issued by the U.S. Government it was found that from 1992-1997 the barbering and cosmetology industry grew from a ten billion dollar industry to a thirteen billion dollar industry in five years. This corresponds to a 5.3% average growth rate per year.

 

The profitability of barber shops is very good. As it is a service oriented industry, the highest expense is the cost of labor. A study conducted by the management showed that the approximate before tax profit margin of the average barber shop is 35%.

Target Market

 

In this section of the business loan application and business plan analysis, you should focus on the demographics of your localized market (or national market if applicable). This section should discuss how many people live in your area, the anticipated number of people that would require the use of Barber Shops, the median household income of people living in the area, poverty line statistics, and any applicable laws that would apply to your operation of Barber Shops.

 

Competition

 

Many people that are developing new businesses or expanding existing businesses often feel that their business does not have any competition or limited competition at best. However, this is almost never the case. Unless you have re-invented the wheel – you will have competition. When applying for a business loan, you should clearly showcase your competition in your business plan. This is especially important to your banker as they will be able to gauge your ability to be successful in your targeted market. Many business loan underwriters will aggressively confirm that competitive nature of your local market and your local industry.

 

When drafting this section of the plan you should heavily discuss the competitive advantages that you intend to have over your competition.

 

Marketing Plan

 

In addition to all of the above information that we have covered, your business loan officer is also going to want to know how you intend to market your business to the general public. Most people do not quite understand how to effectively market their business outside of prominent signage or flyer distribution. When applying for a business loan (again in this difficult lending climate), your banker is going to want to see that you have a clear methodology of how you intend to market your services or products to the general public. In this section of the business plan – we will overview how to showcase your services/products to the general public.

 

Marketing Overview Example

 

The Barber Shop will place prominent signage on the facility to draw a significant amount of foot traffic.
The business will maintain listings in the Yellow Books.
The Barber Shop will also maintain an internet website that showcases the Company’s operations, hours of operation, and relevant contact information.

 

Marketing Strategies Overview

Additionally, you will be required to further drill down (in your business plan) how you intend to implement your strategies when you launch or expand your business’s operations. In this section of the business loan and business plan documents, you should amplify the bullet points from the section above. For instance:

 

The Barber Shop intends to use a number of strategies that will create instant traffic and customer flow to the Company’s location. These strategies include not only using prominent facility and road signage, but also distributing flyers to people that fall into he Company’s targeted demographics. The business will also regularly take out advertisements in localized newspapers that showcase the Company’s hours of operations, barber shop services, and specials that are occurring within the barber shop on a regular basis.

 

The business will also maintain a highly informative website that showcases the Barber Shop’s services, its hours of operation,  licensure information, and other relevant information in regards to the Company’s services. This website will be listed on major search engines such as Google as many people now use the internet to locate local businesses.

 

The Financial Plan

 

Beyond any other part of your business loan application or business plan, the financials section of these documents are what matters most when applying for a business loan or any other type of credit facility. Ultimately, this section of the business plan showcases not only what your anticipated profitability will be, but also how you intend to repay the funds that you have borrowed through your business financing facility. An example of how this section is structure is as follows:

 

Assumptions

 

Barber Shop, Inc. will have an average annual growth rate of 10% per year.
Mr. Doe will acquire 0,000 through a business loan in order to launch the operations of the business.

 

Proforma Financials for a Business Loan

 

Now it is time to showcase how you intend to repay your loan, generate a profit, and increase the book value of your business over a three to five year period. BusinessPlansForLoan.com has developed an easy to use financial model that you can use when drafting out the financial model for your business plan and business loan application. Through your business loan application, you will be required to have the following:

 

Profit and Loss Statement for your Barber Shop
Cash Flow Analysis for the Barber Shop
Balance Sheet for the Barber Shop
Business Loan Amortization Tables

credit report-Ftc Credit Report Repair Facts – for Consumers

Posted by admin in Credit ReportFeb 3rd, 2011 | No Comments

The FTC claims that Credit Report Repair may be better for you if you do it yourself. You have seen advertisements on TV, local newspapers, internet. All of these credit report repair companies claim the following:

* “Credit Problem? No Problem!”

* ” We can get rid of bad credit problems – 100% guaranteed”

* “We can remove bankruptcies, judgments, bad loans and tax liens from your credit file forever

The FTC says “Don’t believe these statements. The only thing that will fix your credit is time, conscious effort, and a personal debt repayment plan will improve your credit report.

This article will explain how you can improve your creditworthiness and gives legitimate resources for low or no cost help.

The Scam

All over the US companies appeal to families and individuals that have bad credit problems. They promise for a fee, to clean up your credit report so you can get a car loan, a home mortgage, a job or even a insurance. The fact is, they cannot deliver. After you pay them hundred of dollars or even thousands of dollars in fees, these companies do absolutely nothing to improve your credit report. They typically vanish with your money says the FTC.

Warning Signs

If you feel credit repair with one of these companies is your choice, look out for the following.

* Companies that want you to pay before services are rendered

* Companies that don’t tell you your legal rights and what you cannot do yourself for free

* Companies that recommend that you don’t contact the credit reporting companies

* Companies that recommend you create a new identity by way of Identification Number.

* Companies that advise you to dispute all information in your credit report

Under the Credit Repair Organizations Act, credit repair companies cannot require you to pay until they have completed services they claim they can provide. The FTC says to get what they claim they can do in written, and once it is done then pay them.

The FACTS

No one can legally remove accurate information from you credit report. If you owe the debt, it will be on there for 7 years from original collection date. The law allows you the consumer to dispute inaccurate information on your report for FREE. There is no cost to you for doing this. Everything a credit repair company does for a fee, you can do it yourself for FREE. This is all in accordance to the Fair Credit Reporting Act (FCRA)

v You are entitled to Free Credit Report if you are denied for the following

1. Credit Application

2. Insurance

3. Employment

You are to ask for this report within 60 days of receiving this notification. You are also entitled to the free report if you are unemployed and are about to apply for job, if you are on welfare, or if your report is inaccurate because of fraud including identity theft.

v All 3 Credit Bureaus – Equifax, Trans Union and Experian are required to provide you once a year with a Free Credit Report. In order to get this report you must go to annualcreditreport.com.

v You are allowed to dispute items that are not yours for free. Under the FCRA any company that is reporting information about you that is inaccurate, this information must be updated correctly. If you owe the debt it will not be removed.

Step One

The consumer credit reporting company that is reporting information incorrectly about you must be informed in writing what information is inaccurate. You are to include a copy of documents backing your claim. You are to clearly identify in the claim the following

1. Your full name

2. Address

3. The item in the report that you are disputing

4. The request that it should be removed or corrected

5. Enclose a copy of the report and circle the item in question.

Your credit report dispute letter may look something like this:

Date

You’re Name

Mailing Address

City, State, Zip

Re: Disputing Inaccuracies on My Credit Report

Name of Credit Reporting Bureau

Mailing Address

City, State, Zip

Dear Sir or Madam:

I am writing for two (2) reasons:

1. To dispute certain information in my credit file; and

2. To have you investigate/re-investigate and remove inaccurate information from

my Credit Report and prevent its re-insertion. The item(s) I dispute are encircled

on the attached copy of the credit report and further identified by (identify the

items by name of source, such as creditor or tax court, etc. and identify type of

item, such as credit account, judgment, etc.)This item is (inaccurate or

incomplete) because (describe what is inaccurate or incomplete and why). I am

requesting that the item be deleted (or whatever specific change you are

requesting) to correct the information.(If you are enclosing documents such as

copies of cancelled checks, payment records, court documents, send copies

only, you should always retain the originals — and use the following sentence.)

Enclosed are copies of the following documents supporting my position:

1.

2.

3.

Please reinvestigate this (these) matter(s) and (delete or correct) the disputed

items within the time frame required by the Fair Credit Reporting Act (FCRA) and

inform me in writing of the outcome. Thank you for your time and consideration in

this matter.

Sincerely,

________________________

(Signature)

Your name

Once the investigation is complete, whether they removed the item or not, the creditor must give you something in writing. If the information was deemed incorrect, then they must remove it, and not put it back on your report.

Step Two

Advise the creditor or other information provider, in writing, that you dispute an item. Be sure to include copies only, not your original supporting your claim. The creditors usually provide an address for disputes. If the creditor reports the items to the 3 credit bureaus, they must include the dispute during the reporting time. If you are correct, the creditor must remove the item from the Bureaus it’s reporting too.

For information on “How to Dispute Credit Report Errors, go to ftc.gov/credit.

The reporting of correct information

When negative information is being reported about you, and it’s accurate the only way it will go away is with time. A consumer credit reporting company can report negative information about you for 7 years and bankruptcies for 10 years. Judgments can be reported for 7 years or until the statue of limitations run out.

Credit Repair Organization Act

By law credit repair companies must give you a copy of the “Consumer Credit File Rights Under State and Federal Law” before you sign any contract. They must also give you a written contract that specifies your rights and obligations. Read these documents carefully before you sign anything.

Example of what a credit report company cannot do:

v Charge you for anything until services have been completed

v Make false claims about there services

v Provide any services until they have your signature on a written contract and have completed a 3 day waiting period. During this time you may cancel the contract without any fees occurred.

v Payment terms for services rendered, along with total cost

v Detailed description of services you are paying for

v How long it will take to achieve results

v Any guarantees they offer

v Company address and name

Check your Credit Report at least 4 to 5 times a year.

Even if you don’t have poor credit, you need to know what’s on your credit report. Here are some good reasons per the FTC.

v Because the information it contains may affect whether you get a loan and the payment terms for that loan

v Make sure the information is accurate, complete, and up to date before you apply for a mortgage, credit card, car, insurance or even a job.

v To help guard against identity theft

Hopefully this has shed some light on credit repair, and the importance of have a recent copy of your free credit report.

credit report-Did You Know That Everyone is Looking at Your Credit Report?

Posted by admin in Credit ReportFeb 1st, 2011 | No Comments

Your employer probably saw a copy before hiring you and your landlord likely considered it before accepting you as a tenant. Long distance telephone carriers and cell phone companies even look at it before providing their services. And you’ve never even seen your own credit report? In fact, according to a recent study, less than 20% of all Americans have ever seen their credit report. Most people become concerned about their credit report only when they are denied credit. By that time, it’s usually too late.

You should take a look at your credit report at least once every 2 years. This way, information is still accessible and verifiable in the case that you may need to have it corrected. You should also look at your credit report before applying for any credit. This may help to avoid any unwelcome surprises. Allowing you to look at exactly what your loan manager will look at, can prepare you for any questions.

If you’ve never had credit problems, you might think that you need not be concerned. But according to a recent government study, one out of every four credit reports contain errors, one out of every six contain errors that could cause denial of credit. Sometimes Credit reports are accidentally combined, and people with similar names or social security numbers actually share a credit report! It’s not at all uncommon for family members to have overlapping data. Nor is it uncommon for a credit card or loan company to accidentally list you as having missed a payment.

Have you ever received a late notice or collection letter on something that you already have paid? I’m sure you made a phone call or two and straightened it out immediately. But what about the monthly report to the credit bureau? You can’t help but wonder if the mistake got corrected on that report. The only way to find out what is actually on your credit report is to look at it for yourself. When you do, you may be surprised to see that your credit record looks quit different than you expected. The past and present credit accounts that you expected to see, may not be listed, and still other accounts that you did not expect to see might be listed. This is not at all uncommon because creditors are not required to report our account to a credit bureau. They are free to report only the information that they see fit.

This situation may provide for a pleasant surprise, if a past loan that became delinquent doesn’t show up on your report. It may also provide a very unpleasant surprise, if something you thought unimportant was reported. Like maybe a non paid magazine subscription, or even worse, someone else’s delinquent account record. The only way to find out what is on your report is to see a copy for yourself!

Here are some questions and answers that will help explain what a credit report is and how to get one.

What does it mean to have good or bad credit?

Having good credit means that according to your past creditors, your record (credit report) is clean. You made payments, and paid off your past debts satisfactorily. Having bad credit is just the opposite. Your record (credit report) shows that you have not paid off your past debts as agreed. This could mean late payments, collections, non-pays etc… This information is held at the “credit bureau”, and is provided to those businesses that request it.

What is the Fair Credit Reporting Act?

The Fair Credit Reporting Act is the federal law that governs credit bureaus. The law was written to protect consumers from the obvious power that credit bureaus can have over their lives.

Do I have a right to know what my credit report says about me?

Yes, the Fair Credit Reporting Act guarantees you that right. This law also gives you the right to obtain a copy of your report for free, with a letter of denial of credit, if that denial of credit was due to information found on your credit report.

What is on my credit report?

Your credit report contains information about your credit card accounts, loans, charge accounts, and items of public record such as bankruptcies, tax liens, and judgments. It will list each account on record, who the account was with, how much was borrowed, how much was paid, and how timely the payments were made. It will also list any accounts sent to collection agencies, accounts not paid in full, and defaulted loans.

Who has access to my credit report?

According to the Fair Credit Reporting Act, anyone with a “legitimate business need”. However, in most cases the report is only provided to credit grantors, employers or prospective employers, landlords, and insurance underwriters.

Are ALL of my accounts listed on my credit report?

Probably not. Businesses have a right (but not the obligation) to report to any or all credit bureaus, at their discretion. Your previous credit grantors might have reported your credit experience to just one credit bureau, all three large credit bureaus, or they might not have reported it to any credit bureau. However, most large credit grantors report to TRW, Transunion, or Equifax.

What will it cost me to get a copy of my credit report?

You can acquire a credit report from the credit reporting agencies below for free. If you’re located in the United States and Canada, you can do this once a year. You also may obtain a free copy of your report from any credit bureau that provided information that caused you to be turned down for credit.

For complete, up to date information how to receive a copy of your credit report, you may contact the three largest credit bureaus directly at:

TRW (800) 392-1122 Trans Union (714) 738-3800 Equifax (800) 685-1111

This information is provided for informational purposes only. The author assumes No liability. You should retain professional legal or financial assistance if required.

Are you swimming in debt? If so, then visit the link below now!

Copyright 2008 Joe Rispoli

Using vehicle tracking in your vehicle

Posted by admin in BusinessJan 29th, 2011 | No Comments

Do you have a vehicle? you definitely need a security for the vehicles with fleet tracking. These days a lot of people who need security. Especially in vehicle safety. Lots of crimes that appeared to steal a car and so forth. You must use the vehicle tracking in your vehicle. You must have a personal vehicle to accompany you every day activity. you must provide protection for your vehicle because every vehicle also requires more attention from you. car should be washed every day and note the engine to avoid sudden failure. You can also use fleet management to protect your car from a criminal activity. you can take the best opportunity for that.

Therefore, we recommend you can try with the maximum to obtain the best advantage. you’ll want it if security is can occurs in some time. You can take some of the best opportunities to exercise all their needs. You certainly can do a few ways to get rid of all these crimes. You can not keep your car every day and every moment because you have a busy themselves. Therefore, you should use a tracking system for your car safe and comfortable. Your car needs protection and security all require qualified. You do not need to worry and expect a lot of things. you should be able to take that chance in some time. In addition, there are many more things that should be done for a number of occasions and purposes.

insurance-What Is Life Insurance?

Posted by admin in InsuranceJan 28th, 2011 | No Comments

The very reason why you continue to strive and earn a living is because of this: Love. When you love someone, be it your wife, husband or children you always think about what would be the best for them. You want to give them the best that life has to offer. Yet sometimes, things won’t happen the way you would want them to be. Especially if it would mean that you would leave them behind. If that time comes, you want to make sure that everything else would be okay for those that you’ll leave behind.

Have you ever asked yourself this question? If I die, what would happen to my family? Will they be able to cope up with life’s hardships? The answer, one thing is for sure. Life will still go on for them no matter how painful, no matter how bitter it may seem. Yet, you can make it easier and simpler for them. How? By having life insurance, your family and loved ones will be able to go through life’s financial difficulties with ease.

What exactly is life insurance? Life insurance is a type of insurance that pays money when the insured person in the policy dies. It is a contract between the person insured and the insurance company where the insurance provider would pay a certain amount of money to the beneficiaries of the insured person so long as the insured person’s premium are current and up to date.

The next question you might be asking next is, do I need insurance? Usually people with families and loved ones that they want to provide comfort when sudden situations or emergencies arise would say yes. Having life insurance is a form of relief from financial troubles when a major turn around in life takes place. You may think that life insurance is for old people who would have the tendency to use it more than the younger generation does. Unfortunately, accidents and sickness that eventually leads to death can happen at any point in life regardless of age.

The reason why people need life insurance is to care for your loved one when your partner or loved one dies. Life insurance is a way of continuing support and care for your loved ones left behind, making the financial difficulties of living without you a little easier to handle. Life insurance is not only for those people who have families to take care of. Even single people should have life insurance as it would ensure that all your expenses in connection with hospital and burial are well handled. Having beneficiaries doesn’t mean they have to be blood relatives. Beneficiaries can be your best friend or even a charitable institution. 

As well, there are certain types of life insurance that carry a cash value. This type provides you with a valuable asset that can be used as a bond on loans or even against the policy itself when the need arises. There will be times in your life that having a cash value in your life insurance would be a great help to tide you over during these hard times.

There are four basic types of life insurance. They are term life insurance, whole life insurance, universal life insurance and variable life insurance. Familiarizing yourself with these four types would let you choose the best type of policy for you.

Term life insurance is a direct or clear-cut type of policy. This type of coverage lets you pay for a specific period of time. During that particular period, any beneficiary you choose will receive the benefits of your policy when you die. There are subcategories that fall under term life insurance. An example is you have the option to renew your policy every year.

However, since the price of the policy and premiums may go up higher every year as you get older, you may want to choose the guaranteed level term life policy. As this type of policy would have the same price range from 5 to 30 years depending on what you choose. There is also another type of term life policy called return of premium life insurance or ROP. This type of policy would pay you at the end of the term, provided you are still alive. Upon your death, the term of the funds will go to your chosen beneficiary.

Whole life insurance is another type of insurance that you may want to check out. As the name suggests, it covers you for your whole life instead of a specific term only. Although a whole life insurance policy would cost more than term life policies, the investment power and coverage are more attractive to some insurance shoppers.

Universal life coverage is when an insured can add a preferred amount to the minimum price o the premium.  The insurance company in return would invest the money with returns that are put back into the premiums or can also be left to build up. A subcategory of universal life insurance is universal variable life that gives the insurer to choose what they want to invest in rather than the insurance company deciding for them.

Variable life insurance coverage gives you more opportunities to invest including stocks. This policy is similar to universal life coverage because the returns are either used towards your premium payments or allowed to add up in an account. Your beneficiary will either receive the value of the policy, or the value of the policy in addition to a portion of, or the full cash investment returns account.

Remember, life insurance policies should offer you protection and security to you and your family as well as provide ease of mind and comfort when you need it. To choose the best type for you, always speak with a reputable insurance agent or provider that would answer any queries you may have.

business-Free Car Wash Business Plan

Posted by admin in BusinessJan 26th, 2011 | No Comments

Free Car Wash Business Plan for Loans

Obtaining Business Financing

 

When obtaining a business loan for a car wash business, it is imperative that you have a properly structured business plan that will assist you in showcasing how you intend to operate your Car Wash, how the business will operate, how you intend to market the business, the anticipated financial results of your company, and how you intend to repay your debt obligations. This sample loan business plan will provide you with the framework that you need in order to acquire a business loan for starting or expanding this type of business.

 

Executive Summary

 

Introduction

 

When obtaining a business loan for a car wash, it is imperative that your business plan has a clear and concise executive summary that provides an outline of what are seeking to accomplish, how much capital you are seeking to raise, the management biography of the business owner, and an overview of the anticipated profit and loss statements of the business. Here is an example of how the title paragraph should be written:

 

Car Wash, Inc. (“the Company”) is seeking a business loan of 0,000 in order to launch the operations of a car wash that will be based in San Francisco, California. The Company was founded in (Insert Year). The business was founded by Mr. John Doe.

 

Products and Services

 

In the next segment of the business loan and business planning document, you should showcase the products and services that you will be providing to the general public. For instance:

 

The Car Wash will provide customers with the ability to quickly have their cars exteriors and interiors cleaned by the Company’s professionally trained staff. The business will not have an automated drive through car wash, but rather individuals will wash and clean the car by hand. The business will generate revenues through the services rendered by the Company’s staff as well as through the sale of car care products.

 

Business Loan Terms

 

Now it is time to discuss the anticipated terms of the business plan that you are seeking. An example paragraph of how this is stated:

 

At this time, Mr. Doe is seeking a conventional business loan in the amount of 0,000. The interest rate, loan terms, and loan covenants are to be determined during negotiation. However, this business plan assumes that the business will receive a seven year business loan with a seven percent interest rate due on the outstanding principal balance.

Management Biography

 

Now that the summary of the business has been provided, it is time to provide a brief overview of the owner of the business. An example paragraph summing up the owner is as follows:

 

Mr. Doe is a highly experienced business person that has years of experience regarding the direct ownership and management of business. He will be able to effectively bring the operations of the Car Wash to profitability while ensuring that the business loan’s payments and its covenants are met at all times.

Financial Statements

 

The most important thing to your lender when applying for a business loan is how you intend to repay the bank. In this section of the business plan, you should provide an overview of the finance’s of the business discussing the anticipated revenues, expenses, and profits/losses. You can also discuss the applicable collateral within the business plan that will be used to secure your business financing.

 

Expansion Plans

 

One of the most important aspects of your business plan is how you intend to expand the business over a three to five year period. Banks and finance companies always want to see that the business will experience a moderate to strong level of growth. This is especially true in business lending because as your business grows the cash flow that secures your business loan will decrease proportionality against your monthly credit obligations. An example of how this is stated is as follows:

 

The Car Wash will continue to expand through organic means including increasing the Company’s advertising budget via the reinvestment into the after tax cash flows of the business. Additionally, if the business is highly successful then the Company may seek to establish additional Car Wash locations after the third year of operations.

 

 

The Financing

 

Use of Business Loan Proceeds

 

In this section of the business plan you should focus on how the proceeds of the business loan will be used. An example of this would be as follows:

 

Car Wash Establishment – ,000
Car Wash Equipment and FF&E – ,000
Working capital – ,000

 

Management Equity

In this section of the business plan you should discuss the percentage ownership of the business among the owners of the business. For example:

 

Mr. Doe will own 100% of Car Wash, Inc.

 

Board of Directors

 

When applying for business financing, the bank will also want to know who serves as the board of directors. For small businesses, usually the owner serves as the director of the business. An example of how this is worded:

 

Mr. Doe will be the sole director of Car Wash, Inc.

 

Exit Strategy

 

Any bank or financing company is also going to want to know what you intend to do with the business over a set period of time. Many business owners will develop and expand a business with the intent to sell the company to a third party at a later time. When drafting this part of the business plan you should focus on what you intentions are in regards to potentially selling the business. This is often worded as:

 

Mr. Doe would most likely sell the Car Wash to a third party for a significant earnings multiple. Car wash businesses usually sell for approximately one to three times earnings given the financial strength of the business. In this event, the business would be sold by a business broker and the business loan sought in this plan would be repaid according to the covenants of the business loan agreement.

 

Products and Services

 

When developing a business plan that is appropriate for obtaining a business loan or other business credit facility you need to clearly showcase the services or products that you will be offering to the general public. An example of how this section is worded goes as follows:

 

As stated in the executive summary, the Car Wash will provide general car cleaning (of both the interior and exterior of a vehicle) to the general public within its San Francisco based market. The business will generate significant high margin revenues from these services.

 

Additionally, the business will generate additional streams of revenue from the sale of car care products that customers can use at home.

 

Industry and Market Analysis

 

The Current State of the Economy

 

It is important to let your financial institution know that you are well apprised of the financial situation of the general economy when you are applying for a business loan. This is especially true in today’s environment where lending has become more difficult and will remain more difficult in the foreseeable future. Specifically, you should gear this section of the business plan analysis towards the industry that you are operating within. For example:

 

The current economy has remained difficult over the past few years. However, Car Wash businesses typically operate with a strong state of economy stability as these businesses provide a broad level of car cleaning services with a relatively low pricing point. As such, the Car Wash will be able to remain profitable and cash flow positive at all times despite the current state of the economy.

 

The Car Wash Industry

 

In addition to providing your business loan officer with an understanding of the general economy, it is important that you showcase that you have an equal understanding of the industry in which you are operating within. As such, you will need to provide you business loan institution of a brief overview of your industry and any potential changes that may affect the way that your company does business. An example of how an industry overview is as follows:

 

There are over 13,600 car washing establishments in the United States. These businesses produce over billon dollars a year in gross receipts. Additionally, the business employs over 124,000 people, and generates payroll figures of .2 billion dollars a year. The industry has experienced a tremendous rate of growth over the last ten years. The car washing industry from 2000 to 2005 experienced growth of more than 18% over the five year period. This industry is one of the fastest growing industries in the United States.

 

 

 

Target Market

 

In this section of the business loan application and business plan analysis, you should focus on the demographics of your localized market (or national market if applicable). This section should discuss how many people live in your area, the anticipated number of people that would require the use of Car Was businesses, the median household income of people living in the area, poverty line statistics, and any applicable laws that would apply to your operation of the Car Wash.

 

Competition

 

Many people that are developing new businesses or expanding existing businesses often feel that their business does not have any competition or limited competition at best. However, this is almost never the case. Unless you have re-invented the wheel – you will have competition. When applying for a business loan, you should clearly showcase your competition in your business plan. This is especially important to your banker as they will be able to gauge your ability to be successful in your targeted market. Many business loan underwriters will aggressively confirm that competitive nature of your local market and your local industry.

 

When drafting this section of the plan you should heavily discuss the competitive advantages that you intend to have over your competition.

 

Marketing Plan

 

In addition to all of the above information that we have covered, your business loan officer is also going to want to know how you intend to market your business to the general public. Most people do not quite understand how to effectively market their business outside of prominent signage or flyer distribution. When applying for a business loan (again in this difficult lending climate), your banker is going to want to see that you have a clear methodology of how you intend to market your services or products to the general public. In this section of the business plan – we will overview how to showcase your services/products to the general public.

 

Marketing Overview Example

 

The Car Wash will place prominent signage on the facility to draw a significant amount of foot traffic.
The business will maintain listings in the Yellow Books.
The Car Wash will also maintain an internet website that showcases the Company’s operations, hours of operation, and relevant contact information.

 

Marketing Strategies Overview

Additionally, you will be required to further drill down (in your business plan) how you intend to implement your strategies when you launch or expand your business’s operations. In this section of the business loan and business plan documents, you should amplify the bullet points from the section above. For instance:

 

The Car Wash, Inc. intends to use a number of strategies that will create instant traffic and customer flow to the Company’s location. These strategies include not only using prominent facility and road signage, but also distributing flyers to people that fall into he Company’s targeted demographics. The business will also regularly take out advertisements in localized newspapers that showcase the Company’s hours of operations, car washing services, and specials that are occurring within the Car Wash’s location on a regular basis..

 

The business will also maintain a highly informative website that showcases the Car Wash’s services, its hours of operation, service information, licensure information, and other relevant information in regards to the Company’s services. This website will be listed on major search engines such as Google as many people now use the internet to locate local businesses.

 

The Financial Plan

 

Beyond any other part of your business loan application or business plan, the financials section of these documents are what matters most when applying for a business loan or any other type of credit facility. Ultimately, this section of the business plan showcases not only what your anticipated profitability will be, but also how you intend to repay the funds that you have borrowed through your business financing facility. An example of how this section is structure is as follows:

 

Assumptions

 

Car Wash, Inc. will have an average annual growth rate of 10% per year.
Mr. Doe will acquire 0,000 through a business loan in order to launch the operations of the business.

 

Proforma Financials for a Business Loan

 

Now it is time to showcase how you intend to repay your loan, generate a profit, and increase the book value of your business over a three to five year period. BusinessPlansForLoan.com has developed an easy to use financial model that you can use when drafting out the financial model for your business plan and business loan application. Through your business loan application, you will be required to have the following:

 

Profit and Loss Statement for your Car Wash
Cash Flow Analysis for the Car Wash
Balance Sheet for the Car Wash
Business Loan Amortization Tables

Men and women with a stylish Ringspun t shirts

Posted by admin in BusinessJan 24th, 2011 | No Comments

Do you know the style of today? you must judge that the style or model of the famous clothing is modern clothing. Clothing is often used by the public. Men and women with a stylish Ringspun t shirts. You will benefit if using these garments. Pepe jeans are clothes are the most popular community for new models and colors are not crowded. You can use these clothes to get attention of people around you. I can not make you disappointed that this outfit is an outfit that wants owned by everyone. Lots of famous people like celebrities who wear clothes because after using Apple bottom jeans. you will look more beautiful and charming.

You must be eager to make things better. You can use these clothes appropriate manner. You will find styles that are trendy. Everything can be obtained with the perfect way. You can judge all better though quite difficult. Therefore, should you change the appearance of using these garments. Are you the type who likes to follow fashion? if you people who like that, you must always replace your old clothes with new fashion. And you just buy clothes and not used at all. It is indeed very good and you can not lose if you do things like this constantly.

credit report-Get Your Credit Report and Analysis

Posted by admin in Credit ReportJan 24th, 2011 | No Comments

It is very important to get your credit report and analysis. Why is this important? For one thing, if you’re thinking about buying a house or applying for credit for any other big purchase, you’ll need a clean credit report, and it’s always best to get your credit report and analysis before your lender does. This will give you an opportunity to clean up any discrepancies or errors, which are fairly common, and which can throw a monkey wrench in the works if not resolved.

Ideally, you should get your credit report and analysis once a year with each of the three credit bureaus:

* Equifax – (800) 685-1111, www.equifax.com

* Trans Union – (800) 888-4213, www.transunion.com;

* Experian (888) 397-3742, www.experian.com

You’re entitled by law to get your credit report and analysis for free from each of these three credit bureaus once a year. You can get all three at once or spread them out over the year. If you get your credit report and analysis more frequently than that, each report will cost no more than around and in some states considerably less.

If you’ve been turned down for credit in the last 60 days because of something a lender saw on your credit report, you can get your credit report and analysis free of charge. Lenders are required by law to notify you of this right if they deny you credit.

When you get your credit report and analysis, review them carefully to make sure all the loans and credit accounts listed really belong to you, and that all the accounts listed as open are actually current loans or balances. If a loan you’ve paid off or a credit card that was cancelled is still listed as open, contact the credit bureau and ask for your credit report to be corrected.

What Is the Range of Possible FICO Credit Scores and What Do They Mean?

FICO credit scores range between 300 and 850. Ratings are as follows:

* Excellent: Over 750

* Very Good: 720 or more

* Acceptable: 660 to 720

* Uncertain: 620 to 660

* Risky: less than 620

How Is My FICO Credit Score Calculated?

The formula used to calculate your FICO credit score includes information based on several factors:

* 35% on your payment history

* 30% on the amount you currently owe lenders

* 15% on the length of your credit history

* 10% on the number of new credit accounts you’ve opened or applied for (fewer is better)

* 10% on the mix of credit accounts you have (mortgages, credit cards, installment loans, etc.)

In general, when people talk about “your credit score,” they’re talking about your current FICO score. But in fact there are three different FICO scores developed by Fair Isaac—one at each of the three main US credit reporting agencies. And these scores have different names.

WILL YOUR SCORES BE DIFFERENT?

FICO credit scores range from about 300 to 850. It’s important to get your credit report and analysis so you can understand what your FICO score is. Fair Isaac makes the scores as consistent as possible between the three credit reporting agencies. If your information were exactly identical at all three credit reporting agencies, your scores from all three would be within a few points of each other. But here’s why your FICO scores may in fact be different at the three c. The way lenders and other businesses report information to the credit reporting agencies sometimes results in different information being in your credit report at the three agencies. The agencies may also report the same information in different ways. Even small differences in the information at the three credit reporting agencies can affect your scores. Since lenders may review your score and credit report from any of the three credit reporting agencies, it’s a good idea to check your credit report from all three and make sure they’re all right.

Usually when you get your credit report and analysis from the credit bureau it will include a form for reporting any inaccuracies.

Give as much detail as possible, and if you have documents that back up your claim, provide copies. By law, the credit bureau must investigate your credit report claim, but even if they decide your credit report is accurate as it stands, you should continue to try to correct the report by writing a letter explaining your side of the story (not to exceed 100 words), which the bureau is required to provide to anyone requesting your credit report.

When deciding whether to approve credit, lenders take the following into consideration:

* Your payment history–do you pay bills on time?

* Have you had a bill referred to a collection agency?

* Have you ever declared bankruptcy?

* How much debt do you have outstanding compared to your credit limits? The closer your debt is to your credit limit, the less favorable.

* How long is your credit history? If you haven’t had much of a credit history yet, prompt payments are even more important.

* Have you applied for more credit lately? Too many applications for credit has a negative impact on your chances for approval.

* How many credit accounts do you have? Too many is considered a negative.

Information is retained in your credit report for up to seven to ten years. When you get your credit report and analysis, if you have negative items in your history, you can gradually repair your credit by consistently paying your bills on time from now on, paying down your balances, and not taking on any new debt. Lenders will take your improved record into consideration when deciding whether to approve credit, especially if you’ve been paying on time for at least a year.  For more articles on Credit, visit: http://www.bills.com/credit-score/