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Knowledge Your Central Repository for the Latest Legal News, Legal Briefings and Updates.

Author: Sukhi Hansra

Business Tips

How To Calculate Your Break-Even Points and Return On Investment When Purchasing A Business.

Ever felt like investing is a bit of a gamble?

Whether it’s playing the stock market or diving into real estate, it’s like a strategic game. But here’s the twist – buying a business is often overlooked as the ultimate challenge. 🏢💼

If you’ve ever wondered how to decode the ROI puzzle in business, I’ve got you covered!

Check out our latest Business Tip of the Week for a simplified guide. Let’s turn your business investment into a winning game plan! 🚀📈

#BusinessInvestment #ROI #GameChanger #BusinessAcquisition #InvestmentStrategy #SmartMoves

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Business Tips

Successful Business Planning for Entrepreneurs and Small Businesses: A How To Guide

I heard what I think is one of the greatest quotes ever recently: “December is like the weekend of the year… You wake up hungover, full of cheese, 10 lbs heavier and wondering what the hell happened from January to November” (I’m paraphrasing but thanks, Adam Williams).

So… how was your year?

• Did you get accomplished what you wanted to accomplish?

• Did you reach your goals in your business?

• Did you grow your revenue like you planned you would?

• Or… did it all coming falling apart like big stack of Jenga tiles?

If you didn’t hit your goals, I probably got a good idea as to why.

Dive into our latest Business Tip to uncover why business planning is your secret weapon for goal-crushing success! 📈✨ 🚀

#BusinessSuccess #GoalCrusher #StrategicPlanning #Entrepreneurship #BusinessPlanning

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Legal Guide

How to Run a Wildly Successful Franchise Business

Starting and running a successful business can be challenging. Between developing a viable business plan, designing a product or service, and building your brand, the going can get tough. Buying into an established franchise can help shorten that process by providing with an already established business, with a proven business model, and backed by a strong brand that works.

While running a franchise is similar to running any other business, it comes with several unique perks that make things easier for you. A franchise brings the benefit of support and guidance from the franchisor, a great brand and step-by-step system to guide you, and a business model that has proven to be successful.

However, what you don’t get are the business skills required to operate, manage, and grow a thriving business. As Forbes advises, the most successful business owners operate with a defined plan, create effective processes and procedures to execute that plan, and constantly pursue personal and professional improvement.

In this guide we’ll discuss five core factors that help contribute to a flourishing franchise business, and how you can apply them for consistent growth in your pursuit of franchise freedom!

#FranchiseSuccess #BusinessPlanning #GrowWithGuidance #StrategicSuccess #EntrepreneurialJourney #BusinessGrowthTips #FranchiseFreedom #OperationalExcellence #BusinessSkills #ContinuousImprovement

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Ask Us Anything

When is the right time to start tax planning in your business?

Crafting an effective tax strategy may not be the flashiest part of managing a business, but it’s undeniably one of the most critical.

So, when should you start planning your business tax strategy?

Well, the simple answer is: yesterday!

Most business owners think they need to be of a certain size to start planning for taxed and executing on complex and strategic tax planning.

However, I can promise you that even the smallest business can benefit from some simple tax strategy – and the benefit is that you get to keep more money in your pocket earlier!

The ideal time to kickstart your tax strategy isn’t linked to hitting a specific revenue or profit milestone; it’s about getting in the game from the very inception of your business journey. Whether you’re a start-up or a seasoned player, being proactive with your tax planning is your secret sauce for financial success.

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Legal Guide

How to Buy a Profitable Franchise – Everything You Need to Know

Looking for lucrative business ideas? Could a franchise be your perfect solution?

If you’re considering starting a business but are unsure about viable business ideas, buying into a franchise could be your answer.

A franchise provides a market-tested business model and a product that people already love.

For the price of a negotiated royalty, you can buy into a thriving brand that not only gives you a platform to quickly grow a business but also provides the support you need to succeed.

However, while there are obvious benefits to leveraging a franchise model, it’s important to approach the process with due diligence and a well-thought-out plan.

Just as buying into a great franchise can help you launch a growth-ready business, signing up for the wrong franchise can produce a world of pain and financial ruin.

To help you navigate the franchise purchase process, this article explains the key steps involved and important matters to consider when purchasing a franchise.

We’ll provide a comprehensive overview of the process of buying a franchise, including how to find, assess, and secure funding for the right franchise.

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Business Tips

How to Reduce Employee Turnover In Your Business

Are you struggling with high turnover in your business?

It’s a problem that impacts a lot of business… and it’s a costly problem at that as well!

According to some studies, the cost of replacing an individual employee can range from half to twice the employee’s annual salary. For C-level positions, the cost can go up to 213% of their yearly salary.  

Indirect costs, which are due to the impact on productivity and morale, account for two-thirds of the total cost of retention. These statistics highlight the importance of effective employee retention strategies. 

So how do you reduce the chances of employee turnover in your business? 

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Legal Guide

5 Franchise Killers to Avoid in Your Next Franchise Agreement

While franchises are typically great businesses to invest in, you need to be careful of these five franchise killers that could be lurking in your franchise agreement.

A franchise presents a fantastic opportunity to own a successful business by piggybacking on a recognized brand name with a proven operating system. With a franchise, you obtain access to an established network of loyal customers, strong market share, and a solid base on which to rapidly grow your business.

But what starts out as the perfect business opportunity can quickly falter and fail if you don’t pay enough attention to the clauses in your franchise agreement. After years of helping people get out of completely unfair franchise relationships, I’ve seen countless smart and talented business owners driven into bankruptcy by franchise structures that were destined to fail.

In this quick guide, we’ll beam a flashlight on five clauses that can seriously threaten (or even kill) your franchise and what to do about them if you come across something similar in your next franchise investment.

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Legal Guide

5 Key Steps to Franchising Your Ontario Business

If you’re looking to expand your business and give yourself a bigger market to work with, franchising may be the way to go.

Franchising is when you license your business model and trademarks to another party in exchange for a fee.

Franchising a business can be a great way to expand your company’s reach. It allows you to tap into new markets and grow your brand awareness. franchising can also be a less expensive way to expand than opening up new locations yourself. When you franchise, you are essentially partnering with another party who agrees to operate under your name and brand. This can be a great way to get your foot in the door of a new market without having to invest a lot of time and money into doing so.

In this Legal Guide, we’ll discuss the basics of franchising a business in Ontario. We’ll cover topics such as what franchising is, the benefits of franchising, and the process of franchising. If you’re thinking of franchising your business, or are just curious about what it entails, then this blog post is for you!

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About 20% of small businesses in Canada fail within their very first year. But it doesn’t have to be that way if you have the right business and legal guidance.