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QuickBooks Enterprise Hosting- The Best Technology With the Best Accounting Software

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QuickBooks Enterprise Hosting- The best technology with the best accounting software

The world is rapidly progressing, and to survive in the market, you need to match the speed, so it is essential to select accounting software suitable for your business requirement. Previously, businesses use paperwork in the accounting process, and now with the advancement of technology, business owners are adopting cloud accounting options. 

 

Currently, there are plenty of accounting software solutions available in the market with their distinct features. But, there is sturdy and compelling accounting software, and that is QuickBooks accounting software. QuickBooks is a globally acknowledged accounting software that has advanced accounting functionalities and benefits of easy usage. Due to cloud computing, now the QuickBooks Enterprise known as QuickBooks Enterprise Hosting. With cloud hosting, the impressive features of QuickBooks Enterprise have attained a new level and became the popular option of accounting for accounting professionals and enterprises. 

 

There are different cloud service providers available in the market for businesses. You can choose the appropriate service provider as per business requirement and reduce the IT resources. 

 

Negligence in the accounting process leads to failure: 

 

There could be many causes due to which any small or large business leads to failure. But, neglecting the accounting process is the foremost reason for the collapse. Without maintaining and following any streamlined accounting process will lead your business into a chaotic situation, and eventually, the company gets destroyed. You have to be attentive to your accounting processes to sustain and maintain business continuity, irrespective of your business size. 

 

The critical and foremost reason for legitimate management of your accounting process is to reflect the financial status of your business for better planning of budget, captivating the investors, making strategies, and more. Hence, the perfect approach to manage the accounting process flawlessly get achieved by using the robust accounting solution QuickBooks Enterprise Hosting. 

 

QuickBooks Enterprise Hosting – An elixir for every accounting concern 

 

QuickBooks Enterprise is popular accounting software, and for accounting professionals, it’s a one-stop solution for all accounting issues. There are various versions available for QuickBooks in the market, but none beats the features and functionalities of QuickBooks Enterprise. Mostly, users install this advanced accounting software on their desktops. However, to achieve the maximum benefits of this sturdy software then you should use the cloud platform known as QuickBooks Enterprise Hosting. 

 

QuickBooks Enterprise Accounting Software 

 

Within the three versions of QuickBooks accounting software, the enterprise version is the advanced and powerful version available, which is generally beneficial for medium-scale businesses comprising more than 15 to 20 employees. The Enterprise accounting software got developed for progressive companies, as it provides a devoted platform to all the accountants. The Advanced QuickBooks Enterprise software is a single software solution designed to meet the requirements of various industries, and this is why it’s the leading accounting software version of QuickBooks. 

 

The specified features for the various industries that are available with QuickBooks Enterprise Hosting are: 

 

  • Manufacture and Wholesale – 

Advanced inventory management, including barcode scanning, improved pick, parcels and shipping, landed costing feature, cycle count, and many more features. These features make inventory management easy. 

 

  • Contractors –

It provides a job costs centre for summarizing every kind of information at a single point so that you can work efficiently.

 

  • Non-profit functionalities –

Ease of managing nonprofit workflow with features like the smooth and instant entry of donations, easy budget setup, and immense storage capacity in adding high donors. 

 

  • Professional utility –

You can view each customer on a single dashboard and project management with ease. You can set up a specific billing price and using customized reporting such as unbilled expenditures by recording profit and loss statement as per the assigned task and more

 

  • Retail features-

You can easily customize and automate the pricing with integrated inventory management for seamless inventory management in a retail store. 

 

  • Accounting professionals – 

Accountants can perform instant reconciliation and can review client data. 

 

Benefits of QuickBooks Enterprise Hosting 

 

  • Sustainability & Continuity –

In QuickBooks Enterprise Hosting, your business continuity and sustainability remains the same. The system always functions and continue your software applications as the cloud hosting providers assures replicas of complete data intermittently from their multiple data centres to prevent data loss in any circumstances. 

 

  • Integration with other applications –

With QuickBooks Enterprise Hosting, you can integrate various applications and additional features as per your business needs. It allows you to combine the functionalities like ERP, CRM, MS Office Suite, and much more to accelerate the processing standards and efficiency.

 

  • Customer Support –

Cloud hosting providers of QuickBooks Enterprise takes responsibility for all your IT related concerns. They will provide customer support from the experts related to all your issues, including installation, fixings, and software updates at any time through phone, chat, or email. 

  • Automated Backups –

QuickBooks Enterprise Hosting offers advanced automated backups for your data that gets stored on the cloud servers. If any disaster occurs, your information is safe and secure to maintain your business reputation without any data loss. 

 

  • Data Security –

QuickBooks Enterprise Hosting providers take complete responsibility for your data safe with different layers of security measures such as firewalls, two-factor authentication accessibility, intrusion detection and prevention system, and much more. 

 

  • Enhanced Collaboration –

QuickBooks Enterprise Hosting offers working in real-time with the team members ensures efficient productivity, editing and sharing of data and files instantly. It also enhances the team collaboration with the synchronized files, distant accessibility of data, and removing process of sharing documents via email. 

 

  • Accessibility –

QuickBooks Enterprise Hosting offers you accessibility of your accounts from anywhere and any time, irrespective of the device you are using. You require the internet and any device like a tablet, laptop, or smartphone to access required business data. 

 

Finally, we can say that QuickBooks Enterprise Hosting is the advanced technology that gives you balance in your business to attain the growth you desire in business. It provides an exceptional solution to resolve business concerns. Selection of the correct service provider for QuickBooks Enterprise Hosting is necessary, as it will take your business growth to the next level. 

 

At SageNext, we provide QuickBooks Enterprise Hosting as per your business requirement. For any further assistance, you can contact our support desk for further clarification or queries. The contact number is – support (Toll-Free) +1-855-922-7243. You can even send us your question via email for customer support, and the email address is – [email protected]

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Data migration – How this Small Strategic Step Can Take Your Business to The Next Level

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87. Data Migration A strategic step to take your business to the next level
Data Migration

Data migration is the process of transferring the existing historical data to a new storage system or file format. Data migration is a complicated process and it involves a lot of preparation. Companies need to plan, create backups for data, test the data and validate the results. Data migration ends only when the old database system is taken out of service. There are many business benefits of big data and sometimes companies need to undertake the tedious task of big data migration. This is the reason why many businesses are interested in the subject. In this article, we will have a look at data migration and its benefits and also see the best practices of data migration.

Data migration Vs Data integration Vs Data replication: What’s the Difference?

Many times, there is confusion between data migration, data integration, and data replication. Let’s understand the differences between these terms.

Data migration vs. data integration

Data migration deals with the company’s internal information. Data integration, on the other hand, deals with data from multiple sources which might be outside the company as well. Data integration is an essential part of the data management strategy, and it is concerned with connectivity between systems and provides access to content across a wide range of subjects. While data migration is a journey that ends once all the data is transported to a target system, data integration can be a continuous process.

Data migration vs. data replication

In data migration, once the data is completely transferred to a new system, the old system is abandoned. In data replication, the engineers transfer data in a periodic manner without discarding the old system. Hence, we can say that data replication does not have any defined completion point.

Top Benefits of data migration

Scalability

Scaling up the physical infrastructure is very difficult as it requires acquiring servers and arranging for space to keep them. Cloud servers provide companies with the flexibility to upscale their data requirements as and when they require. Businesses are better able to plan for future resource allocation with the help of cloud infrastructure.

Also, businesses can concentrate on their main business requirements and need not worry about scaling up or down their storage needs. There are a wide variety of cloud-based tools available that help in cloud migration. The scalability feature of cloud infrastructure is especially useful for e-commerce businesses as they do not know how much rush they will face during the festive season and hence require to scale up rapidly to meet the customer demand. Big data clouds solutions help enhance the e-commerce user experience.

Cost-effective

Cloud migration is a popular strategy among companies because of its cost-effectiveness. Local servers have maintenance costs that are not there with cloud servers. Moreover, with cloud computing, it is possible to perform all the tasks that are performed in on-site data systems. The companies need not pay for the salaries of onsite staff to manage their systems. The companies are also saved from the expensive costs of acquiring new equipment for the purpose of database storage.

Remote collaboration

Organizations can access their data remotely through the cloud environment. This enables the workers to collaborate remotely with each other. There are countless collaboration and communication tools that make remote collaboration possible in the cloud environment.

Disaster recovery

Cloud-based backup and recovery solutions make it very easy to recover data preventing the issues that arise due to sudden data loss. Cloud database storage solutions save both time and investment.

Automation of tasks

While it is difficult to automate tasks in the physical system, it is easy to use automatic API in a cloud environment. This enables the automation of repetitive tasks. Automation not only improves the efficiency of the data center, but it also helps to reduce costs.

Security

Cloud data environments provide better security against hacking, data theft, infusions, and identity theft issues. Some cloud providers offer military-grade security. It is easy to monitor a cloud data center 24×7 using automated systems. The benefit of cloud systems is that any potential threat is spotted and resolved immediately.

Faster setup

It is very easy and fast to set up data and applications in the cloud environment. Engineers can even set up a cloud environment remotely and it is just a matter of a few hours as compared to the time taken in setting up a physical infrastructure.

Less maintenance

The cloud service providers look after the hardware, software and network in a cloud infrastructure. Minimal IT staff is required to deal with a cloud infrastructure. This benefit of cloud infrastructure makes it a maintenance-free affair.

Low risk of failure

All major cloud service providers provide 99% uptime and there is a very low risk of failure. Cloud infrastructure automatically allocates the workload in an efficient manner and ensures smooth and continuous performance. A cloud infrastructure can easily handle large data loads for applications that are customer-facing and require handling multiple users from different parts of the world. Cloud infrastructure gels well with IoT infrastructure and provides a seamless experience.

Competitiveness

As cloud is an enterprise-class technology which is both cost-effective and easily scalable, it makes the businesses that use them globally competitive. Cloud systems boast record uptimes of 99.99%, which means that it is very rare for a cloud-based data center to report downtime which is not the case with a physical data center. The phenomenal uptime of cloud-based systems adds to their competitiveness.

Environment-friendly

Cloud infrastructure has very little impact on the environment as multiple businesses use the services of the same servers. As fewer servers are used, it reduces the cost of manufacturing and maintaining the servers which ultimately reduces the impact on the environment.

What are the different types of data migration?

Before a business chooses to migrate its data, it needs to decide the type of data migration process that it shall require. We have mentioned below the most commonly used types of data migration.

  • Storage migration
  • Database migration
  • Application migration
  • Datacenter migration
  • Business process migration
  • Cloud migration

Let’s understand the types one by one.

Storage migration

Storage migration is a kind of data migration that happens when a company discards outdated equipment in favor of modern technologies. In storage migration, a business transports data from one physical medium to another or from a physical medium to a virtual environment. The following types of data transfer come under storage migration

  • When data is transferred from paper to digital documents
  • When data is transferred from HDD to SSD
  • From physical location to cloud storage

Storage migration is a type of migration which compels a company to shift data due to technology upgrades and not due to lack of storage space.

Database migration

Data is typically controlled and accessed via a database management system. So, most of the time, database migration entails upgrading to the latest version of DBMS, switching to a new DBMS. While the former is easier, the latter case is tougher as sometimes target and source databases support different data structures. The task becomes especially challenging when data is to be moved from legacy databases like IMS, IDMS, and Adabas to modern ones.

Application migration

In this kind of migration, a company changes a software vendor which requires moving data from one computing environment to another. A good example of this kind of data migration would be when an enterprise like a hospital replaces its legacy EHR system with a new one. The engineers needed to address the challenge of integrating old and new data infrastructures which might work with different data formats.

Datacenter migration

Data center migration can mean the physical relocation of existing computers and wires to another premise or moving all the digital assets including to new servers and storage.

Business process migration

Under the business process migration, the company is transferring business applications and databases to a new environment. Normally business process migration occurs when there is a merger of the company with another one. When one company acquires another company. When there is a need to reorganize or optimize the data.

Cloud migration

Cloud migration typically involves moving data from a physical system to a cloud server which is normally at a distant location. When migrating data between different cloud environments, then also it is classified as cloud migration. Experts expect that due to its cost-effectiveness and ease of use, in the future cloud service would become the norm. Let us discuss some benefits of migrating data to the cloud.

Data migration – Best practices

While conducting the exercise of data shift, the business leaders should take the following steps to increase their chances of success.

Define your goals

The first step should be to define the goals of database migration. To identify the goals, the business owner should review the business requirements after consulting with various stakeholders. Once there is a clear understanding of the business requirements, then the company can start evaluating the available options. KPIs should be defined to measure success. The following are the questions that one should ask before defining the goals

  • What are the metrics to measure success in data migration?
  • What is the percentage of data that should be migrated successfully?
  • Can the business support any downtime during migration?

Get details about the data

Before a company begins with the data migration process, it is absolutely vital to understand the current state of the data. The engineers should be clear regarding the following points

  • The kind of data that is being migrated
  • The current format of data
  • Where does the data reside?
  • What should be the format of the data post-migration

Profiling data helps the engineers identify the potential risks. This allows the engineers to plan beforehand and prevent any issues that could arise during the data migration process.

Define the scope

Once the engineers have a clear understanding of the data that is being moved, they can then define the scope of the project. Defining the scope of the project allows the migration team to learn for any future race and identify the resources that they will hear during the migration. The scope of the project also lets the business owners know about the exact costs that will be involved in the data migration process.

The engineers then analyze the source and target systems and prepare an estimated timeline for completing the data migration process. Before going ahead, the engineers should check whether the scope of the project includes the requirements of all the stakeholders. The data migration team should conduct a technical assessment of the data migration

  • Methodology
  • Data security plan
  • Type and volume of data

Clear the data

The quality of data affects the quality of the decisions that are made using the inferences derived from that data. Data clearing is a very important part of any data migration plan and that’s why data clearing should happen after the initial data assessment is done.

Today, using modern data clearing tools it is possible to automate the process of data clearing to some extent.

Data security

Inadequate data security cannot be left to chance as inadequate data security can expose the sensitive data of an organization to hackers. All sensitive data should be fully compliant with local data security regulations. Before starting big data migration, the data migration team should assess what security measures are in place both at the source and destination and who has access to data and at what level. While preparing the data security plan, the team must ensure that the cost of data security does not outweigh the actual value of data.

Migrate to accelerate

Data migration can help a business to manage data better and accelerate the progress of the business. In order to successfully finish the process of data migration, the data migration team should ensure proper communication with all the stakeholders. The owners of the organization should ensure that data migration is aligned with business priorities. The business owners should have a clear idea about the downtime during data migration and should keep all the stakeholders informed about the progress of the data migration process.

Without proper planning and processes, it is very hard to achieve successful data migration. Years of data can be lost deemed unusable during the process due to small mistakes. One should consider hiring the services of big data experts for their big data management and migration needs. The experts will ensure that the process of data migration is completed smoothly.

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Important Role of Transcreation in Marketing

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transcreation-services

You started your business and want to expand it to foreign markets. You are creating marketing campaigns so that you can target foreign markets. Developing a marketing campaign that resonates with a global market is not an easy task. You have to invest several resources to connect with the market that you want to target. There are different options available to translate marketing content like marketing translation, adaption, and transcreation services. The transcreation approach is used to take your marketing content to a global level.

Transcreation

It is a word that is used mostly by advertisers and marketers. Transcreation is a method of adapting the marketing message from its original language into the language of the target market where you want your product and brand to be sold. Transcreation doesn’t change the context, style, tone, and intended message of marketing and advertising. However, it maintains it.

The transcreation is successful if it brings the same meaning in the target language and provokes the same emotion as it brings out through an original language. In this era of globalization, many companies are going for marketing and advertising campaigns. Therefore, they have to follow transcreation so that their message resonates with cultural and linguistic nuances.

Alike localization, transcreation also takes into consideration the graphics and images so that their marketing material is according to the local target market. The main purpose of transcreation is to make the intended message altered according to a target language or specific dialect. The transcreation process is not related to language translation but includes creativity.

Apart from language translation services, many translation companies are providing transcreation services too.  A transcreation professional takes into consideration the cultural and regional differences of each target market and ensures that your marketing and advertising message conveys your brand voice and touches the heart of the people.

Process of Transcreation Success

For a successful transcreation, you have to follow these steps.

Share your Goals for Guidance

You have to be involved in the transcreation process from the start. Therefore, you have to provide information regarding the intended message and marketing goals to the respective translation company. Translators don’t use the source content as a guide. Thus, if you provide necessary information to a transcreation professional then they will be in a better position to communicate your message according to the target market. Moreover, you also need to provide all this information to all stakeholders to make sure that they are on the same page and have the same expectation. This action will streamline the transcreation process and mitigate all communication-related issues.

Know the Marketing Timeline, Budget, and Branding

To make your transcreation process smooth, you should know how the transcreation process works. Therefore, you should be aware of the marketing timeline, budget, and branding. Usually, marketing translations and transcreation require more expense and time than a normal translation. The challenge comes when you are under budget. One important thing you need to keep in mind is that if you are unaware of linguistic intricacies then it will increase your cost and time. Moreover, you have to rework which will result in more effort and loss of money.  

Why Marketers need Transcreation

When you aim to target the foreign markets then there are three options for you. You can run an international campaign in English, run a marketing campaign locally or translate an existing campaign. If you want to avail translation option then, you have to include transcreation in the process. No doubt that transcreation is more difficult and requires more time than standard translation but the result you will get is worth the effort and extra time.

When the marketing team and ad agency don’t hire a professional translator then they will not be able to target the foreign markets and all their effort, money and time will go in vain. Moreover, their entire marketing campaign will fail.

Wrapping Up

Do you want to market your content on a global level? If yes then transcreation is the best tool for you. For this, you have to understand the transcreation process and how to use it efficiently to avoid loss of money, time, and effort on a message that you want to communicate to the target market.  

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EQUAL – Why To Choose Best Quality Products

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Equal

Equal is a premium Place where you’ll find all the Aluminium Ladders, Digital Weighing machines, Material Handling Platform Trolley, Recliners Folding Chair and many more products that will satisfy your daily hectic work life at home or offices.

History

EQUAL is a Home & Industry Improvement solution was founded by Ashok Sharma under Unique Power Technology which is discovered in 2001, and having 16 + years of happy run in Home & Industrial Products. They are offering well-designed products and solutions like ladders, Material Handing, Testing and Measuring instruments, beds and chairs for your home. And equal’s value and optimism are sharing with our co-workers and customers across the globe.

At Equal where they focus on delivering on the premium quality of products, in the market their number of other businesses also there and delivering the products. But they are lacking in the customer satisfaction and quality of products.

Business Model

Equal has its online and offline business model of distribution products for home improvement. The company doing offline business for over 16 years and now it’s time for an upgrade to online marketing. The brand also puts its products on Amazon. Equal started with the Weighing scale and by delivering to every home and the business, now they have a number of products in their lists like ladders, Measurement instruments, beds and chairs etc. They continually creating and launching new collections for every customer need.

The Equal Network

Apart from the home décor collection, equal fosters and works with highly work enthusiasts and build a community on one platform. Equal also invite them to connect with them and work in the professional environment.

Products

Equal has a wide range of home décor products starting from the ladders to beds and chairs, and they are selling these brands offline and online in India and outside India.

1.      Ladders

2.      Material handling

3.      Testing and measuring instrument

4.      Beds and chair

Ladders

 Household ladders:

Equal household ladders offer safety and functionality at the highest level. They conform to exacting requirements, not just in the materials and workmanship. With unique as well as intelligent and practical details they make work easier

Industry ladders:

Our range of products includes industrial ladders such as tower ladders, step ladders. Aluminium extension ladders, self-supporting ladders and many more items at the equal’s online store.

Multipurpose ladders

‘Equal’ presents Foldable Multipurpose Super Ladder which converts/transforms into 6 different positions based on Requirements. It can be used as a wall supported straight ladder or can be an A-shape Ladder to work in the centre without any Support. It can also be converted into a Work Bench table. It is the only Ladder-type that can be used even on Staircases.

Scaffolding Ladder

Owing to our vast industry experience, we are offering a wide range of Scaffold ladders to our respected clients. All these products are made from quality proven components under the assistance of well-qualified professionals at the ultra-modern production unit. Furthermore, we are offering these products in customized options too at industry leading rates. These products are highly demanded among the clients for their optimum performance and premium quality.

Telescopic Ladders

Equal’s range of telescopic ladders is the perfect solution for situations where the ladder has to be regularly moved or stored. Collapsing down into a compact package, they can be carried in car boots yet extend, making them perfect for engineers or other mobile professionals.

Material handling

Platform trolley

Platform trolleys are super tough, heavy-duty trolleys that are equipped with a single push handle, this is an ideal platform trolley.  The EQUAL Foldable Platform Trolley comes with the perfect four-wheel structure to move heavy or bulky items easily around the basement, garage, warehouse, shop, office or home.

Casters and Wheels

When mounted on the underside of am equipment, caster & wheels make it easier for personnel or machines to transport the load or another group of items from one place to another place. Typical industrial applications include platform trucks, crafts, hand trucks, assemblies and tow line conveyors.

Hand truck

Equal’s hand truck can help you to move just about anything, help to lift and move stacks of heavy ceramic tile, cement blocks, boxes packed with books or print materials and much more. Find hand truck parts and accessories to handle hand truck a wide range of heavy lifting and transporting jobs at EQUAL.

Material handling accessories

Equal’s Material handling accessories encompasses a diverse range of tools, vehicles, storage units, appliances and accessories involved in transporting, storing, controlling, enumerating and protecting products at any stage of manufacturing, distribution consumption or disposal.

Testing & Measurement Instrument 

Retail Weighing Scales

The weighing scale has now become an integral part of every household as every family has some basic weighing requirements in its day to day routine life like weighing LPG Cylinders, selling old scraps like newspapers etc. The product is approved by the Dept. of Legal Metrology, Govt. of India and comes with a Stamping & Verification Certificate.

Bench and Platform Scale

EQUAL durable bench and floor scales provide dependable weighing solutions for a wide variety of industries. Simple to operate, these industrial scales offer the functions and features needed to improve efficiency and increase productivity in factories and warehouses, on assembly lines or loading docks, during shipping and receiving activities, and at small retailer shops.

Industrial and Heavy-Duty Scales

EQUAL durable bench and floor scales provide dependable weighing solutions for a wide variety of industries. Simple to operate, these industrial scales offer the functions and features needed to improve efficiency and increase productivity in factories and warehouses, on assembly lines or loading docks, during shipping and receiving activities, and at small retailer shops.

Load Cell Systems

Equal’s economical load cell system is innovative, our highly trained and experienced engineers are outing their efforts in the process of selecting the appropriate load cell of your application. Out products line can be customized or a custom load cell can be manufactured if your application should require it

Precision Balances

Equal’s precision balance has already delivered its services in various industries. Precision balances can be transported to the field or used in various settings instead of lab workstations alone. They are used in various laboratories and chemistry applications, and common sight labs and many other places.

Home and kitchen

The weighing scale has now become an integral part of every household as every family has some basic weighing requirements in its day to day routine life like weighing LPG Cylinders, selling old scraps like newspapers etc. The product is approved by the Dept. of Legal Metrology, Govt. of India and comes with a Stamping & Verification Certificate.

Beds & Chair

Recliners

Steel Recliner Chair/Bed is considered to be an ideal product to carry with you during any Outdoor Leisure activity like Picnic, Camping & Barbecue, Beachside / Poolside where you can relax & relieve your Tiredness and regain the lost energy.  

Conclusion

At Equal, we have always believed in the importance of building a great, enduring company that strikes a balance between profitability and a social conscience. We take a holistic approach to ethically sourcing high-quality products. This includes responsible practices, supporting employees and other programs also. When you buy this way, it helps foster a better future for workers and a more stable future for them. We believe in the importance of caring for our planet and encouraging others to do the same. We are working to reduce our environmental footprint, Equal’s every product is familiar with the environment at very best.

Article Source: EQUAL

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Which One Is the Best for Your Business Either LED or LCD?

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Looking forward to an advanced direct-view display solution? If yes, the following post can help you to understand the difference between LCD/LED and projection cubes display. Prysm systems have a reputation of offering the best display solutions, to help customers obtain a seamless experience without putting much burden on the pocket. Feel free to read the post to learn more!

LED and LCD displays have gained quite a popularity among the businesses who were constantly on the hunt for advanced direct-view display solutions. As the technology changed- LED-based projection cubes caught up with the active LED and now competing side-by-side to catch more eyes in the market. On the top, both of these technologies are reliable and have several common strengths and drawbacks that make it difficult to choose between them. Both of them are scalable and can be added to existing arrays of the display, increasing the overall resolutions. However, when getting into detail-LCD direct-view display and projection cubes do have some differences that, if evaluated, can help customers to draw a line between them.

In the following post, we will set out key features that differentiate active LED displays from projection cubes and what they mean for your business. Moreover, you can also visit Prysm Systems to skip the hassle to acquire the best direct-view display solution.

Direct View LED vs. Projection cubes: Drawing the line between display technology

Resolution

When it comes to displaying solutions, the resolution makes all the difference! Let’s say how resolution differentiates direct-view LED from projection cubes.

LCD/LED display

LEDs are known for their high pixel density that plays a vital role in producing high-quality resolutions. Most of the LED displays come between 47 to 55 inches to offer resolutions from 1920×1080 (full HD) to 3840×2160 (4K). When necessary, you also expand the resolution to 7680×4320 (8K). This ability to reach the resolution of 4k and 8k makes led video walls display ideal and future-proof solutions for many businesses.

Projection cubes

On the other hand, projection cubes can also offer high resolution but compared to LCD or LED, they have lower pixel density and hence; fails to achieve the same level of resolution. For instance; to achieve the resolution of 1920×1080, a cube of 60”-80” is required to put together. Nevertheless, they are ideal for close-range presentation.

Seamless

The seamless experience can make all the difference between a memorable and easy to forget presentation.

Major Drawback of LCD and LED display

One of the major drawbacks of LCD walls is that they have bezel width. Although with each generation these bezels are getting thinner and thinner and currently some led video walls have bezels of 3.5 widths, they are still in a way to deliver the seamless presentation.

Projection cubes

Similar to LCD screens, projection cubes also have seams or mullions as thin as 0.2 mm, they are able to deliver a seamless experience. This feature makes projection cubes an ideal solution for projects that require less scattered content to gain the attention of viewers.

Viewing angle

The viewing angle with the installation area is two major factors that play a significant role in the selection of display technology.

Features Of LCD and LED display

LCD and LED panels using the advanced IPS technology can provide a very wide viewing angle within the minimum drop-off, making the image clear and easy to see even from a far distance. The quality they offer makes them an excellent choice for the wide control rooms in the office set-ups as operators in such spaces are located at a distance from the video wall display.

Projection cubes

When it comes to projection cubes, the viewing angle has limitations compared to the LCD and LED screens. This is because in order to achieve a certain level of brightness the projection cubes focus the projection on certain axis viewers, causing light failing issues for viewers who are watching from a distance.

Cost

There was a time when technologies were only reserved for big brands but with time technologies started to become more and more affordable and reachable for small businesses.

Comparison Based On Cost of LCD and LED display

Considering other presentation technologies, the initial cost of LCD/LED displays is far less than projection cubes. LCD/LED direct-view displays also don’t have any consumable parts or do not require any downtime before it is ready to use again. On the top, the minimal maintenance cost, the life span of 6 years to brightness, LCD/LED has a low cost of ownership and are considered as one of the most affordable display technologies in the market.

Projection cubes

The initial cost of projection cubes is quite higher than LCD/LED video wall that offers the same dimension coverage. However, if you use the large size cubes, then they can be a less expensive option. The power consumption of projection cubes is the same as LCD/LED walls along with minimal maintenance cost but the screen may occasionally need to be replaced due to the peeling. While maintenance cost is less the overall cost of ownership for projection cubes

The above points may have helped you to understand a few points but in the end, the decision to acquire a direct view display solution is in your hand. However, there is much more to comprehend about LCD/LED walls and projection cubes. Fortunately, you can visit Prysm Systems- one of the leading names in the advanced free video conference display market. Known for quality within the budget, Prysm can help you to comprehend the detailed explanation of leading video wall display technologies. Check the website today to learn more

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What Is A Warehouse Platform Trolley And What Are Its Uses

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warehouse platform trolley:

We all have seen warehouse platform trolley before but don’t know about it. You may have been told you need one as a solution to manoeuvre your goods from one place to another with ease and not known where to start, what type of platform is right for you, and how exactly you can use it.

Well, you are at the right place!

Platform trolley is goods manoeuvring equipment, designed to easy transportation of heavy or bulky items. They are very useful where carrying heavy items manually over longer distances would be unsafe or stressful on your body.

The main purpose of a warehouse trolley is to move items from one place to another with ease while allowing you to carry more loads than you would carry manually.

You’ll notice that the item features a simple design so you and your employee can use it instantly with minimal or without any training. Most versions follow almost the same design of a flat platform with four casters (wheels) and a fixed or folding handle which is used to either push or pull the trolley and therefore the load it’s carrying.

It’s important that you know what weight capacity you would like your platform trolley to carry as there are multiple types that are capable of carrying up to 500kg weight.

The easy-to-use moving equipment is a foldable platform trolley in order to store them with ease when not in use which will save your space and avoid any increased chances of hazards or using floor space. You can get variations of the merchandise to match certain applications or to manoeuvre goods for certain industries with the merchandise having the ability to be made for bespoke requirements.

Platform trollies are utilized in a variety of industries like construction, schools, libraries, warehouses, and factories to name a few showing how versatile the product is and where you’ll be able to use them.

Benefits of Platform Trolley:

There are a variety of benefits you can get from using one of these robust and heavy duty platform trolley. We’re going to check out the variety of them below to offer you a stronger idea of it is the right solution for your current, or any future, moving challenges.

Most trolleys have a grip where the load sits to make sure the load stays in place and doesn’t become unbalanced. For anyone operating this equipment, it means they will not need to worry about the load accidentally slipping or becoming unstable.

The wheels on it provide a smooth transportations process as long as there aren’t any obstructions within the surrounding area so you’ll be able to move items around your floor space with ease.

You can also use platform trolleys to move goods from one place to a different one that may be wider and odd-shaped when something like a machine mover can’t do the task.

Safety Measures:

When lifting any heavy product there’s always a possible risk and that’s where the platform trolley can help significantly to scale back the chance of damage and personal injury.

Platform trolleys are designed to take the heavy goods out of moving objects, small and heavy, so it’s less strain for the operator and person moving the item to make sure safe and simple transportation.

You need to remember to not try to exceed the capacity of the variation you have as this may potentially damage the products it’s carrying, making it less efficient when transporting.

If you’re carrying heavy goods, please always ensure you’re wearing the appropriate safety equipment like suitable safety clothing, gloves, and footwear to avoid any personal injury to the operator.

Making of industrial platform trolley:

The industrial platform trolley is built in a way to carry industrial raw materials, unfinished goods, and other components which are large in size and heavy in weight. They’re in huge quantity and having a particular or awkward shape that needs a special sort of transportation. It’s quite common to look out for vehicles that are primarily used for specific jobs. But vehicles for transporting different types of commercial goods must not be common, as industrial goods required some special vehicles for transportation. One of the simplest material handling tools for industries is the platform trolley. They’re helpful for running the assembly unit smoothly. They not only transfer heavy loads from one place to a different, but they also protect your employees from risky factors like accidents, damages, and plenty of other unforeseen circumstances.

Moreover, the uneven surface of the production floor makes the work very difficult for the workers. And therefore the environment of the production unit is additionally very volatile, sensitive and there are also many potential risky reactions of materials. So industries need special material handling tools in order to move their products safely. Thus, it’s vital for each production unit to use effective material handling equipment that’s affordable and sturdy. The transportation equipment for the industry must be well-produced and it also has well adaption feature for all the tasks of an industry. During this article, we are about to discuss the development and accessories that are fixed in trolleys for providing effective performance for various types of industries.

High-quality platform trolleys are generally supported by a stainless steel or polypropylene frame that gives long-lasting durability to the merchandise. Platform trolleys are also present in versatile forms including office trolleys, hand trolleys, order picking trolleys, etc. With reference to the usage of trolleys, differing types of accessories like clips, chains, brakes, holders, side rails, lid, handles, etc. are attached to the merchandise in order to produce increased performance in the industries. This is the fundamental construction of trolleys which provides strength within the main body of the trolley. It also prevents the users to get injured or cut while their body is in touch with the merchandise.

Foldable platform trolleys are the best choice to lift heavy objects:

Do you think working in a warehouse is that basic? No, yet currently there’s numerous gear created for warehouses to make the employments less demanding and basic. Imperative employment in warehouses to try and do is to convey, lift and move boxes or any luggage. Employments of trolleys and beds help in transporting any substantial burdens or baggage’s, also there are actualities that expand effectiveness in the working environment.

Distinctive warehouses would require various sorts of hardware that won’t make any wounds or issues specialists. So there are distinctive kinds of trolleys that will be utilized for a specific mechanical reason and that they own the capacity to ease out the material handling work.

The expansion in the employment of trolleys and beds are exceptionally expanding, in those way Industrial trolleys positions higher. Modern trolleys are found in businesses, processing plants, warehouses, then forth.

In the event that you simply need to transport some substantial burdens or overwhelming obligation things then platform trolleys are the right decision. They’re accessible in various stacking limit, different size and shapes and this trolley have castor wheels which might simple for pushing.

Thus, to lift heavy objects in any warehouse or related space, Industrial platform trolleys are the correct choice.

Where to Buy:

As a platform trolley is a piece of essential warehouse equipment you must buy it from an authorised manufacturer or supplier. You must check for the durability of the product also the after-sales support. EQUAL is the most trusted and authorised manufacturer of warehouse platform trolleys in India, serving numerous types of trolleys in various weight slabs, such as.

Platform trolley 150 kg

Platform trolley 300 kg

Platform trolley 500 kg

EQUAL is serving both polypropylene and metal trolleys at the most reasonable price. If you have any questions related to material handling and warehouse trolley, write to us.

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Key-Points You Should know Before Starting a Towing Business

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Starting a towing business could be a golden decision for you as towing Services are in huge demand in Canada and all around the world. They are in demand as road accidents keep happening every day and towing companies are required often. Moreover, towing services are required for automobile towing due to unauthorized parking violations that keep happening daily. Not only that, hundreds of vehicle breakdowns occur every day, and hence, people keep calling tow truck companies frequently.

My journey: Setting up a towing company in Surrey

The fun fact is that due to such high demand and professional service, towing companies make a lot of money. If I talk about me, I live in Surrey BC and I analyzed the business model of every single towing company operating in Surrey. I figured out that I could also start a towing company in Surrey and start earning heavy bucks. Having determined that, I started my own tow truck Surrey company and now I am earning around $20k+ monthly. If you want to start your towing company, here are some of the fun facts you need to know first. If you guys also want to start a towing company, here I am going to share my own experience with you for setting up a tow truck company. Here are some of the key factors that account for the overall success of a towing business:

Who can own a tow truck company?

Most of the roadside assistance companies are owned by private individuals. It is beneficial to start a towing company near small roads and highways where the flow of traffic is good and the density of service stations is less. If you are a vehicle rental company or simply, an automobile servicing company, you can start your own roadside assistance company along with that.

You can note that in some areas especially near highways and toll junctions, state authorities have their own towing services. Police and other firefighter authorities can also establish their own towing services.

How Towing Companies Operate?

Owners of tow truck companies allot dispatch centers in specific areas. The dispatch centers are further authorized to tow truck drivers. Usually, there are a number of tow trucks available at the dispatch units so as to meet urgent towing demands all at once. Tow truck drivers are given instructions and towing consignments regularly.

Whenever there is a call placed to the towing company, it is redirected to the nearest dispatch centers. Further, a tow truck driver handles the towing project along with his tow truck.

The communication between towing companies and dispatch centers is placed through mobile radios and other mobile devices. Some big companies also communicate through GPS (Global Positioning System) devices. With more technical advancements, a number of wireless communication devices can be used.

Towing Equipment Required

One of the most important towing devices used in towing industry is the navigation system. Some big towing companies make use of Automatic Vehicle Location systems to navigate the closest tow truck to the position of the client. It saves a lot of time to reach the proper location.

Additionally, along with tow trucks, the tow truck company owners also keep a mechanical tool kit in order to deal with any kind of car breakdowns and mechanical failures.

Can I Start A Towing Company too?

Yes, you can. However, you need to plan the stuff properly before making any investment. The first and foremost thing you need to worry about is the capital you will need to invest in the business. If you ask me how much money I need to start a towing business, I’d say near to $10,000 and $50,000 is sufficient. 

After you have figured out the investment, the next thing you will need to think about is to gather class B licenses and the legal permits to start a tow truck business. You’ll need to check your local details for exact prices and procedures to gather the license. Also, remember to check for the insurance policies for your business. They may cost you some money for the first few months of the premium.

After setting up with all these things, you need to sit with your team and discuss small but crucial elements like the charges, the locations, the management, the dispatch centers, and other such activities. After deciding about these little and important things about your towing company, you’re good to tow!

The Takeaway

A tow truck business can earn you a lot of bucks if you know every know-how of how to start a towing business. However, starting a towing business is not an easy task at all. You will need to prepare an efficient towing system to provide fast and professional towing services to your clients. Setting up dispatch centers and arranging tow trucks will incur some investment from your pocket, but it’s totally worth it if you operate it well.

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Country-Wise US Trade Data And Insights For Traders

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The United States has a gross domestic product of $17,968.2 billion. The fact that the United States is the largest economy in the world generally makes it the favourite trade destination of businesses worldwide. Hence, it is the largest trader and the most sought-after destination and source of foreign direct investment.

As per the US trade data, the United States market has greatly expanded in the recent past. This has led to the further integration of its markets and production with emerging economies of the world.

If we look at the US trade data by country for the year 2019, then we know that its largest trading partners were Canada, Mexico, China, Japan, and the United Kingdom. However, the European Union was also a major trading partner in terms of the bloc.

United States Trade Scenario

The US trade data reveals multi-dimensional insights associated with United States global trade. However, before moving on to the country-wise statistics, we will discuss the macroeconomic attributes of the country’s trade.

The United States accounted for 13.84% of the world imports, making it the largest importer in the world. Its imports aren’t limited to a particular product segment, but it buys goods from different categories. Those categories include automobile, pharmacy, textile, foods and beverages, computer and components, and petroleum.

As per the US import export data, the United States exports comprised over 9.13% of world exports. There’s no denying that the United States is a global manufacturing hub of various goods, and several countries worldwide import those products regularly.

Some of the major imports from the United States are heavy machines and tools, electronic devices, computer and mobile phones, defence equipment, and crude oil.

Import Statistics Of The United States

The country’s total imports amounted to $22,49,661 (US $ million), and the number of trading partners was 222 for the year 2019. Among which the top five import partners were:

1. China

The Asian giant emerged as the largest import partner of the United States and held a major chunk in imports, i.e., 21% that amounted to $4,81,728 (US $ million).

2. Mexico

Mexico emerged as the second-largest importer and held an import share of 13%, amounting to $2,96,858 (US $ million).

3. Canada

Canada took third place with a share similar to Mexico, and total imports amounted to $2,83,309 (US $ million).

4. Japan

The regular trade partner with the United States took fourth place with an import share of 6%, amounting to $1,35,273 (US $ million).

5. Germany

Finally, Germany stood fourth on the list of mega importers to the United States and had an import share of 5%, amounting to $1,16,396.

Export Statistics Of The United States

While discussing the US trade data by country, we see that the United States is also not behind in exporting goods. The country’s overall exports amounted to $14,53,167 (US $ million), and there were 5,167 different product categories.

Below are the top five export destinations of the United States:

1. Canada

The North American nation saw 18% of exports from the USA, amounting to $2,65,928 (US $ million).

2. Mexico

Mexico maintains its position in the export list, too, with a share similar to Canada and total exports worth $2,30,959 (US $ million).

3. China

China emerged as the third-largest exporter from the United States with an export share of 8%, amounting to $1,15,775 (US $ million).

4. Japan

Like Mexico, Japan also has its position intact. The exports to Japan amounted to $63,262 (US $ million).

5. United Kingdom

The final name on the list is the UK, with an export share of 4%, amounting to $55,387 (US $ million).

Factors Affecting US International Trade Policies

It is now a well-known fact that the United States imports more than it exports due to the enormous domestic demand and the decent-paying capacity of its population. Hence, there is a general trade deficit in the country with most of its major trading partners.

Many global economists believe that macroeconomic factors like aggregate investment and savings and valuation of the dollar and its role in international markets determine the US trade deficit and further shape its trade policies.

The US import export data, combined with observations of its trade exports, determine the key trade policy components for the country. Apart from the macroeconomic factors, these policy components play a huge role in deciding the US trade scenario with its partner countries.

Therefore, let us take a brief look at the key policy components:

1. The Setting Of Trade Rules, Liberalisation And Enforcement

Mega trade agreements don’t happen without a long period of negotiations. These rules are set over trade and investment conditions, enforcement of commitments, dispute settlement mechanisms, and United States trade laws.

2. Export Promotion And Control

The United States trade administration has trade promotion agreements with major trade partners. They also have working export control regimes with others for various reasons.

3. Customs And Trade Adjustments

It includes the regulations of border trade, national security and trade security factors, the balance of payments and unfair barriers to the United States trade. Trade adjustments also include assistance for dislocated workers and firms.

Further Trade Policies

The United States also offers duty-free access to emerging economies. In addition, it has free trade agreements with numerous countries and trading blocs, which automatically set preferences for its trade. For rules regarding investments, the United States trade administration thoroughly examines the inbound FDI to meet the national security implications, and certain areas have a limit over investments.

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Top Tax Write-Offs for New Business Owners

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Taxes are one of the most complicated parts of running a business, and many business owners see tax preparation as a nightmare. Still, they must find ways to file taxes accurately and save more by reducing their tax liability.

 

Like many other new business owners, if you are also not sure about your tax deductions or not paying attention to such opportunities, you are missing out on a lot of value.

 

To get a better understanding of your tax deductions, check these helpful tax write-off tips shared by industry experts:

 

Bowen Khong, founder and CEO of ForexToStocks

 

When your firm is profitable, and you have children capable of performing routine and necessary chores for your business, now is a fantastic moment to grow money for your children tax-free. There are no payroll taxes to pay if you elect to put your children on payroll. You don’t have to file a tax return if you pay your child up to the standard deduction of $12,400. As a business owner, you can now deduct $12,400 for placing your child on payroll without submitting a tax return and without paying payroll taxes. You can also set up a Roth IRA for your children, put them on payroll, and finance the Roth IRA through payroll on the backend. This is a means for your children to grow their money in the market tax-free.

Figuring out the best way to create income and coming up with a plan to keep them tax-free is an excellent way to make the tax law work in your favor. Make sure you consult an expert so that you know all your possible legal options to do this.

 

Erin Stone, Business Owner, Hinterland co.

 

The home office write-off often goes unnoticed, especially by new small business owners. But it can really help defray your tax liability. Just make sure that you qualify. The rules surrounding qualification recently became much simpler, as did how much you can claim for the write-off. Consult the IRS website for details on qualification and how to claim it. An initial qualifier, although it may go without saying, is that your small business is based out of your home.

 

Gail Rosen, CPA, PC

 

Starting with the tax year 2018, a new law passed that allows a new 20 percent tax deduction on your QBI (Qualified Business Income) that reduces your taxable income. There are many provisions that change your eligibility for this deduction, including what type of service you offer, your income level, wages you pay, and/or assets you own. This is one example of the benefit for freelancers working with an experienced tax professional.

 

Perry Zheng, CEO & Founder of Cashflowportal

 

Small businesses get massive leverage when it comes to paying taxes for their insurance. All business expenses, including the owner’s insurance policy, malpractice protection, flood insurance, cyber liability coverage, and business continuity insurance, are entirely deductible. However, when it comes to health insurance, there are two things to keep in mind. A small business may be entitled to a tax credit of up to 50% of employee premiums paid. Furthermore, health insurance premiums for self-employed individuals and shareholders who possess more than 5% of a corporation are not deductible as a business expense. Instead, the insurance premiums are deducted from the owner’s tax return.

 

Sep Niakan, Managing Broker

 

A vehicle, such as a car, light truck, or van, is used by the majority of enterprises. Only deduct the expense of operating the car for business if you have records to substantiate it was used for that purpose. Instead of deducting your actual outlays, you can eliminate the need to keep track of specific costs (e.g.., gasoline, oil changes) by relying on the IRS’s standard mileage rate. You must keep track of how many miles you drove and for what purpose, whether you deduct real expenditures or utilize the standard mileage rate per mile driven.

 

Darren Nix, Founder of Steadily Landlord Insurance 

 

One of the most valuable tax write-offs you could make include deductions on your home office. With many businesses in tech or even working remotely, this could save you a significant amount of money.

Be careful though, I know an accountant who told me that the definition for a home office is rather strict, and there are many criteria. One of these is that the home office cannot have a TV. While having a home office could be a tax write off you do not want to be in trouble with the IRS.

 

Conclusion

 

Tax deductions are important to minimize the amount of tax you have to pay, and accurate financial records help you know what to write off and what not while keeping you away from IRS penalties.

 

If you don’t have enough knowledge of taxes, especially business taxes, it’s always best to hire tax accounting services to save time, money and keep the tax-filing stress away.

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How to Select the Best Industrial Custom Packaging in Australia

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Industrial packaging consists of packaging solutions used in the manufacturing process and throughout the end to end manufacturing supply chain. As such, industrial packaging is often required to be custom packaging in Australia.

Selecting the right industrial packing material is critical to protect products from damage or environmental contaminants during storage and shipment.

Examples of industrial packaging are packaging labels, cardboard packaging, and steel packaging. Steel packaging consists of flasks, drums, cans, pails, etc., which are available in a variety of sizes and shapes. Corrugated packaging is in the form of cartons, boxes, trays, and sheets

Tips for selecting the best industrial packaging

There are several factors to consider with regard to industrial and custom packaging in Australia. Some of these are as follows:

  • Items to be packed

The application, composition, weight, and size of products will all determine the final decision on industrial packaging. For instance, packaging made of wood is not suitable for fragile items like glass, and packaging made of foam might not suit the packing of heavy machinery.

  • Need for packaging

Consider why the product needs to be packaged, whether it is to be shipped to the end-user or for internal transport and storing. There are packaging options that are better suited to internal company usage and those which are suited to one-time use for shipping.

  • Environment of the package

Besides considering the requirement for packaging, one must consider the environment of the packaging after the product is packed. For instance, if the packaging is intended to be stored in a damp environment, packaging with corrugated cardboard will not be the ideal option. In case products are to be shipped in a crowded truck, where they might be squished while being jostled around in a limited space, packaging made of corrugated plastic may not be the best option.

  • End-user of item

When selecting packaging, one must also consider the end-users of the item and select an option for packaging which suits their needs, and environment.

  • Your budget

What any logistics manager wants is that the package he or she selects for the products offers it protection, survives its journey to the end-user, and ensures that the whole process is carried out at the best value. When selecting packaging materials, consider mixing materials to cut costs while offering your assets all the protection required.

Engineered packaging solution

Because there are so many factors impinging on your decision to select the packaging, the best way to ensure that your item is packaged in the most cost-effective way is to use an engineered, customized packaging solution

When it comes to engineered packaging, packaging engineers create a customized solution matching the products which is designed to offer the best protection at the lowest cost.

Packaging engineers

These are professionals who fashion, develop and manufacture packaging solutions for almost any product on the planet. The primary goal of the engineer when creating a new solution for packaging is to create a package that will protect the goods at minimum cost and for as long as possible.

In sum, these are the top tips for selecting custom packaging Australia for industrial products.

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Key Disruptions Rocking the Franchise Space

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puzzle 1487340 640Like veritably all businesses in the post pandemic era, those operating in the franchise space are experiencing a wave of major change—as is the franchising trade at large. Accelerated and elevated adoption of technology; consumer demand for more efficient and on-demand service; and employee appeals for greater flexibility are among the many industry pivots that are evolving seemingly by the day.

These and other kinds of changes and challenges each have their own implications within the franchise space—a sector projected to open more than 26,000 locations and nearly 800,000 new jobs, employ nearly 8.3 million people and contribute $477 Billion to the U.S. GDP by 2021 year end.

“Amid all of the economic upside and the changes that are propelling the sector into new territory on multiple fronts, there are also numerous disruptive trends that, if not aptly adapted to, can become make-or-break factors for a franchise-based business,” cautions Jimmy St. Louis, Chief Executive Officer at Franchise123.com—the franchise business MLS that connects franchise buyers and sellers globally.

According to St. Louis, here are a few key disruptive trends reshaping the space.

Transparency Takes the Lead

Now more than ever, accurate data and transparency is no longer a request, but rather has become a foundational requirement. The franchise development industry has never experienced the collective and global transparency of franchise data that is now underway. Franchise brokers, consultants and online franchise portals currently dominate the franchise development industry, but these outdated methods do not adequately meet the needs of modern investors. No matter the investment, buyers expect transparency and comprehensive data to facilitate the vetting process. Franchise buyers do not just want to be sold something, but rather they want to invest in a business that will best assure they will thrive financially, professionally and personally. Proper franchise selection has the biggest impact on whether or not a franchisee will succeed in any or all of these areas. Brokers and franchise portals not only limit the options available, but may also guide a prospective buyer towards a brand that is not right for their goals, objectives and sensibilities.

Industry Portals are Perishing

Specialized industry lead generation and business development portals have long been the connector between franchisors seeking to engage with potential franchisees, and they are dying on the vine—and rightfully so. Although consumers may not be aware, portals can be doing them a disservice. This is because of the fairly ubiquitous business model where portals are compensated for leads created—inherently creating a bias and weighting interests toward the portals themselves versus prospective buyers. That means that, as a franchise investor, a portal makes money off of you whether or not you are actually interested in—or suited for—the brand you merely clicked on to check out. Beyond this dynamic, there are a myriad of other problems with franchise portals. Brands are looking to these portals to find qualified and interested buyers, but often feel that they are wasting their time, energy and marketing dollars on unprepared leads. Those that are often not pre-qualified, vetted or properly funneled toward applicable brands. In addition the prospective franchisee is then often prematurely bombarded with phone calls even prior to their understanding of the brand. In turn, they are also left to their own accord to organize their thoughts, perform their own research and make their own investment decision. Thus, franchisors have been lamenting that they are paying too much per lead and heeding very limited results—eroding business development budgets that are stressed and waning post-COVID-19.These dollars are now being allocated toward other lead generation methods with a more demonstrable ROI.

Mass Entry Mishaps

Also in the wake of COVID-19 people are more wary than ever. Many have lost their jobs and, with it, their sense of stability in a traditional career path. Suddenly a 9 to5 job and promise of a bi-weekly paycheck does not feel reliable and, income aside, many people are also seeking more professional autonomy. The recent pandemic has accelerated the mass exodus from traditional careers and fueled the transition to freelancing, gig work and entrepreneurship. With this, franchise businesses have become a very popular option for people looking to pursue a more entrepreneurial route while absorbing less risk. This wave of new buyers are seeking to capitalize on the engrained support—and to leverage the power of an already established brand—as they embark on their entrepreneurial path. However, this eagerness and enthusiasm can lead to hasty or high pressure-driven decisions and avoidable mistakes—with selecting the wrong franchise for their goals and personality paramount among them.

Biz-Busting Legislation

Industry insiders indicate that new legislation will soon be proposed that threatens the profitability of the franchise broker business model. Franchise brokers count on being paid a portion of the initial fee that a new franchisee has paid to the brand up front, before the unit opens. By example, if a franchise investor pays $99,000 for the rights to open five locations, a franchise broker is typically paid 50% or more of that as their commission, regardless of the amount of locations the franchise opens. However, the newly-proposed legislation allows brokers to be paid the franchise fee as each franchise unit actually opens. This payment paradigm changes the entire sales process and cash flow for a broker. Compounding the concern is the fact that there are thousands of franchises soled each year that never open. With the current system, brokers are paid for their efforts of successfully bringing a new franchisee into the fold whether or not a unit actually opens—a post-sale situation out of their control and sphere of influence. This entire dynamic can put both the broker and the franchisor in a more compromising position, strain professional relationships in the process and potentially undermine a franchisee’s ability to obtain adequate broker assistance when desired. In simple terms, this new legislation will align the interest of all parties, but the broker network will surely not like it.

What Does This Mean for the Future of Franchising?

“These disruptions in particular are prompting key concerns for all contingents: inadequate access to mission critical information, cost inefficiencies and misaligned interests among them,” notes St. Louis. “Franchisors are having immense difficultly finding qualified franchisees due to misaligned interests of portals. This as brokers, and the tidal wave of prospective new franchise buyers themselves, are lacking a means to procure qualified information and efficiently connect with the right franchisors. This sector exemplifies the need for innovation and we expect to see several technological solutions manifest over the next few years. Transparent and self-guided sales processes have already begun to dominate a multitude of industries, including everything from buying houses on platforms like Zillow and cars on Carvana to shopping for insurance and more. Franchise development is long overdue for change; namely to establish a more innovative sales method that truly aligns the interests of franchisors and franchisees, alike, to the drastic benefit of all parties.”

Perhaps anything less than what St. Louis describes would be akin to shopping for a home without access to meaningful online data, leading to wholly inefficient and uninformed decision making that only exacerbates risk. In today’s marketplace, and the hugely impactful franchise trade in particular, that kind of result is entirely unnecessary, avoidable and will surely be regarded buy industry pundits as wholly unacceptable. Today, one couldn’t even imaging buying a home without suitable online resources.

Toward this end, St. Louis is pioneering change with Franchise123.com–a first mover in the franchise development space. By providing a platform that allows prospective franchisees to independently access all of the information they need, on-demand and at their fingertips, they can make a fully informed and unbiased decision about the franchise that will best meet their needs and help them achieve their goals as a business owner.

As an equitable, multi-sided business platform, Franchise123.com allows prospective franchisees to connect directly with franchisors. This structure allows for both franchisors and franchisees to manage and store their respective custom data associated with franchise buying and selling, and to even execute the transition online. The vast amount of tools that are provided to both franchisors and franchisees are intuitive and can demonstrate critical value to the investing experience. This first-of-its-kind platform is well-poised to become the benchmark standard for any franchise investor and seller.

The Franchise123.com process is comprised of three easy, user-friendly steps that do not require any prior experience with franchising.

  • How does a prospective business owner know that franchising is the right path for them? Franchise123.com provides a thorough breakdown of franchising and what all it entails in an objective format, never pushing a user toward a brand—or franchising at large—if it’s not the right fit.
  • Franchise123.com allows buyers to view company information such as investment requirements, franchise fees, royalty fees, how long the company has been franchising, how many locations are currently open, potential earnings and more. The platform offers thousands of Franchise Disclosure Documents available through the site that may be viewed at no cost. Users can even do side-by-side comparisons of franchise statistics with a convenient comparison tool.
  • Once a buyer has narrowed down their top franchise choices, they can work their way through the entire buying process right from their Franchise123.com dashboard, including direct communication with the franchisor. No need for a middleman to slow or sway the process.
  • Franchisors can claim their brand, update their company information, access information on their franchise leads and engage directly with prospective franchisors. As an added service, they can also opt to have Franchise123.com take care of the entire franchise development process for them, from start to finish.

“Because of the franchisee journey we’ve created, franchisors can rest assured that the leads they receive from our platform are high quality and truly interested in their brand,” St. Louis said. “This will be a welcome change from the wasted time and money spent chasing after the poor-quality leads provided by franchise portals. And the benefits for buyers equally abound and starts with free access. Anyone can create an account on Franchise123 and begin exploring franchise options at no cost. Our intention is to completely transform the industry and make a significant, quantifiable impact in franchise sector growth. Toward that end, franchisees can rest assured that they have adequate investment tools to make the best, most accurate and informed decision for their interests, needs and goals.”

According to one report, assuming control of the COVID-19 pandemic is forthcoming this year, FRANdata predicts that by year-end, franchising will have recovered to nearly 2019 levels in most metrics: business growth, employment, economic outlook, and contribution to the GDP. The report also cited that total franchise output is projected to grow by 16.4% and contribute a total of $780 billion to the U.S. economy. All this largely founded on antiquated systems and processes rife with shortcomings. One need only imagine the economic upswing were the franchise development space to operate in a more efficient and equitable manner. This St. Louis is apparently hell bent on making happen.

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Forbes Business Council Member Merilee Kern, MBA is an internationally-regarded brand analyst, strategist and futurist who reports on noteworthy industry change makers, movers, shakers and innovators across all B2B and B2C categories. This includes field experts and thought leaders, brands, products, services, destinations and events. Merilee is Founder, Executive Editor and Producer of “The Luxe List” as well as Host of theSavvy Ventures” business TV show that airs nationally on FOX Business TV and Bloomberg TV and the “Savvy Living lifestyle TV show that airs in New York, Los Angeles, San Francisco, Miami, Atlanta and other major markets on CBS, FOX and other top networks. As a prolific business and consumer trends, lifestyle and leisure industry voice of authority and tastemaker, she keeps her finger on the pulse of the marketplace in search of new and innovative must-haves and exemplary experiences at all price points, from the affordable to the extreme—also delving into the minds behind the brands. Her work reaches multi-millions worldwide via broadcast TV (her own shows and copious others on which she appears) as well as a myriad of print and online publications. Connect with her at www.TheLuxeList.com and www.SavvyLiving.tv / Instagram www.Instagram.com/LuxeListReports / Twitter www.Twitter.com/LuxeListReports / Facebook www.Facebook.com/LuxeListReports / LinkedIN www.LinkedIn.com/in/MerileeKern.

Sources:

https://www.franchise.org/sites/default/files/2021-02/Economic%20Outlook%202021_web2.pdf

https://www.frandata.com/wp-content/uploads/2021/05/NAGGL-Collateral.pdf

 

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