Elss Secret Of Tax Saving With Mutual Fund Investments.

As the name suggests ELSS (equity linked savings scheme), invests primarily in equity shares of companies. As per financial regulations, the scheme Fund manager has to invest 80% of the total amount in the equity shares and the remaining 20% per cent can be invested in other instruments like bonds, debentures, government securities and others. When you invest in ELSS your money is locked for a period of three years (minimum). Once you invest in tax saver funds you cannot withdraw the amount for three years, this acts as a blessing in disguise as tax saving funds generally yield high returns during a 3year period. The common man is basically afraid of investing his money in equity shares as he is afraid of loosing money. But a look at the recent past shows that investors who have invested in tax saver funds have never lost out on their money, rather tax saver funds have been the front runners in terms of returns to investors. A small illustration will clarify comprehensions.

If you make an investment of Rs 1,00,000/ ( 1 lac), then under section 80c this complete amount is deducted from your gross income for that particular year. If your annual income puts you in the highest tax paying zone, i.e -34%, then the investment of Rs 1,00,000/ will ensure that you get an annual tax deduction of Rs, 34,000/. So logically speaking you invest Rs 66,000/ considering the deduction. Assuming that the Mutual Fund declares an annual dividend of 10% then your total return on Rs 66,000 is [(10,000/66000)* 100] = 15.15%. This particular dividend earned is also tax-free, hence more profit. Another profitable venture out of this investment is that after a period of 3 years the capital gain that you obtain out of the investment is also tax-free. This is what makes ELSS the most attractive investment for those who have the appetite for moderate risk. However, prior to making an investment selecting a good fund house based on its reputation and track record is important. Elss are considered to be the best tax saving mutual funds in India.

ELSS is a good option to save tax and generate long term capital gains. These gains are obtained from the equity market only if you are investing in a long time horizon. Adding money in a disciplined manner creates a good corpus. The basic confusion that the average investor could have is that they consider Equity Mutual Funds and ELSS to be the same, which in true sense isnt correct. Normal equity funds could be purchased today and disposed off tomorrow. Incase of ELSS there is a compulsory 3 year lock in period. As per the rules related to long-term capital gains, profit from equity MFs after one year becomes tax-free. As per latest sources the top 5 ELSS schemes are 1) Principal Personal Tax-saver, 2) DSP ML Tax Saver Fund, 3) Taurus Libra Taxshield, 4) Lotus India Tax Plan, 5) Franklin India Tax Shield ( FIT). Going by the current volatile market trends and with the current fiscal year approaching an end, investing in a good ELSS fund is a clever option to save taxes.

The Issues and Strategies of Franchising a Brand

However, the process for turning a network into a franchise begins long before the first advertisements are placed for potential franchisees. The people who run the business, whether they are main board directors of a Plc, or are virtually a one-man band, must first gain a full comprehension of how to franchise, including its advantages and disadvantages, and its likely effect on their existing operation.

Only when fully armed with all the relevant information should a network make the decision to become a franchisor. This information includes hard elements, such as the financial aspects, and the softer, personal elements of the unique franchisor/franchisee relationship.

It is crucial to look very closely at the more personal elements because there is much more to building a successful franchise than the cold legal agreement and financial projections. Whilst advice on these matters from properly qualified experts is, of course, essential it must be considered in tandem with issues concerning human resources and personal development. Make no mistake, if a business becomes a franchisor, personal development is the name of the game.

Whatever it is you do now, whether you are a restaurateur, printer, carpet cleaner, car tuner, fashion retailer, or deliverer of parcels, your business enterprise will change when you become a franchisor. It will then be all about recruiting, training, monitoring and motivating people who want to run a network under your name, using your system and operated to your standards.

They will be expecting leadership and direction; guidance when they want to expand, or when they meet the inevitable problems; on-going training and marketing support; and the product or service development to keep their concept at the forefront of its marketplace. They will also expect you to create and maintain standards, both in your own firm and throughout the network.

As this is what you will have promised them when they were taking a look at joining you as a franchisee, you had better deliver it. Whatever happened, you may ask, to running a restaurant, printing, cleaning carpets, tuning cars, and so on?

If you are ready for this fundamental change, let us look at how we decide whether a company is franchiseable. We will investigate firstly the mechanics and then the cultural implications.

Five-star franchising

Just about any type of firm that operates as a branch network has been already franchised somewhere in the world.

In the U.S. for example, you can be born in a franchised maternity hospital, buy just about every product and service you will need in your lifetime from franchised outlets, then be seen off by a franchised undertaker, and finally buried in a franchised cemetery. However, not every network that has tried to franchise has been successful, and this is due to a number of reasons. To create a successful franchised network certain key elements need to be present. These are:-

A business with a clearly defined image and system of operation, both at branch and head office levels.

A brand with a proven and successful format suitable for franchising and with a product or service that has stood, or will stand, the test of time.

A network that is easily duplicated and easily learned

A business that generates enough profits to support both the franchisor and the network of franchisees.

A firm which has, or can adapt to, a culture of mutual respect and support, and in which it is clear who is responsible for what, and how often, and how well, they will perform their obligations.

Image and system

The clearly defined image and system are what we call the intellectual property. This includes the trade name, the method of operation and the way in which the various elements of the network come together to make up the franchise formula. None of the elements of the package need to be individually secret. What matters is the way that the franchisor has combined them to create a successful business enterprise system.

Naturally, the trade mark or name has to be owned by the franchisor as he is licensing others to use it, but do not worry if your name is not yet well known. That will not stop franchisees from joining you. After all, even McDonald’s and Marks & Spencer started with only a single outlet.

All the components of the package from the design and layout of the premises, through marketing campaigns, to accounting and administration will be detailed in the franchise manual, and it is the system in the manual that the franchisee agrees to operate.

Proven format

Pilot operations prove that the concept works and it is the evidence of their success that will convince your first franchisees that they should choose your franchise. Even if you have run company-owned branches for years, you must be aware that things will change when you franchise and you must be prepared to run pilot units at arm’s length.

This is just as vital if you currently have company-owned outlets which you are planning to convert to franchises and even if the franchisee is going to be the existing branch manager. Something different will happen when it becomes a franchise, so it is wise to find out what that is before you take the plunge.

Pilot units should, of course, mirror the proposed franchised outlet as far as possible in terms of size, location, catchment area, population profile, staffing and so on. It is no use doing brilliant network from a site in London’s Leicester Square and then expecting a franchisee to be equally as successful in the high street in Leicester. Ideally, you should pilot the concept in two or three places for at least one complete trading cycle.

Pilot operations help to prove that what you thought on paper will work in practice. If it does not, then you still have the chance to adapt it before offering it to franchisees. Pilot units also give you the opportunity to write the manual from practical experience instead of theory.

Easily duplicated

Depending on how many franchisees you need to properly service your potential market, you will not want to have too much difficulty finding premises, or people to join you as franchisees.

If there are a limited number of sites suitable for your network, or it needs particularly unusual conditions (say a constant supply of fresh spring water) then it will not be easy to duplicate in sufficient numbers to support a network. Similarly, if it calls for special skills which few people possess, say something particularly artistic or creative then franchisees will not be able to learn how to do it. Every rule has its exceptions, but mostly speaking the easier it is to duplicate and learn the brand, the easier it will be to franchise it.

Profitable

The whole area of profits and fees is what we call structuring the franchise, and it is one in which you will need professional advice. Do not just look at a similar business enterprise and simply decided to charge the same franchise fees.

Whatever percentage they charge for their management services fee and advertising levy, or the size of the mark-up they charge on supplies, will probably not be appropriate for you, and it may not even be right for them either.

A franchising feasibility study has to evaluate many things. Having sorted out whether the business is proven, and easily duplicated and easily learned, it is then necessary to look at the structure. How big is the market? How much business enterprise can the proposed size of outlet handle? Consequently, how many franchisees will we need?

Having decided the number, what support staff and structure will you need to recruit and support a network of that size? Can the concept make enough to satisfy the franchisee, and give the franchisor a profit?

These and many other concerns are best discussed with someone who has franchising experience as it is easy to overlook fundamental items when you have not had experience as a franchisor.

Naturally, it is sensible to work out the franchisee’s finances first. After all, if it does not work for the franchisee, it will never work for the franchisor. If things look good for the franchisee, then go on to work out your finances as a franchisor. Ideally, you should prepare a three-year profit-and-loss and cash-flow forecasts for both your franchisees and yourself. These can later be used as the basis for brand plans, both for raising finance and the on-going monitoring of the firm.

It is crucial to get the structure right. This may seem obvious, but if one or other of the parties sees the other making all the money or, indeed, if neither of them is making enough, the relationship will come to an end.

The concept, therefore, has to generate enough profit for the franchisee to make a decent living and pay back whatever he borrowed to start the brand, and also make some more on top to re-invest in future improvements. Finally, the network must contribute enough to the franchisor for him to do the same, and in addition provide on-going support to all his franchisees.

So if your company has a low margin it is likely to be tricky to franchise successfully. It also really goes without saying that if your existing concept is not making sufficient profits, franchising will not offer a way out of the problem. In such a situation, you must first put right whatever is wrong and then use franchising to build on your new success.

Franchising culture

None of the above will work if you do not get the relationship right and create a network based upon mutual trust, respect and support. To support franchisees, it is essential that franchisors and their support staff understand the unique relationship between the franchisor and franchisee.

Like all relationships, both parties in franchising have different motivations for becoming involved, and there are advantages and disadvantages on both sides.

For the franchisor, the advantages have mostly to do with using other people’s money to expand the network quicker than would otherwise be possible, whilst having less involvement in the day-to-hassle of running branches. The disadvantages are having to accept that the bulk of the profits from the branches will go to the franchisees, and learning how to deal effectively with people who are using your name and system, but who own their own businesses.

Some research says that it is a relationship which is becoming increasingly attractive to many businesses as proved by the fact that more franchisors come to the market every year. However, other research says that as many as two-thirds of franchisors drop out within the first 10 years.

There may be any number of reasons for firms dropping out, and they are not all due to failure or disappointment with the system, but it is likely that many of those who did withdraw did so because they had failed to understand the principles of good franchising practice before they started and were subsequently unable, or unwilling, to get to grips with the all-important question of the franchisor/ franchisee relationship.

As in many relationships, the major cause of failure is often due to the failure to communicate. It is the franchisor’s job to communicate what the network is trying to achieve; how it will be done; who is responsible for what; and by when it should be done. He should set an example by his own actions, and motivate and encourage franchisees to play their part in making the system successful. Not many networks fail because of the franchisees.

Assuming the franchisor has properly piloted and proven his system, he then needs to understand the motivation of franchisees for choosing this particular form of self-employment. Research tells us that at the top of the list comes reduced risk, marketing and training support, the fulfilment of a long-term desire to have their own business enterprise, and trading under an established name. At fifth place is the level of prospective income.

If you have recruited your franchisees, or sold your franchise, on the strength of the support you will provide, that support had better be there and it had better be good.

The initial step in the direction of mutual understanding is for each party to accept their individual and joint obligations.

Broadly speaking, the franchisor is responsible for marketing and developing the network and its products or services; assisting the franchisee to be profitable; and creating and maintaining standards. The franchisee is responsible for upholding the good name of the franchisor; operating in accordance with the agreement and manual; and maintaining and improving standards. Jointly, the responsibility of both parties is to build a network with a defined image and standards, under a recognised brand name.

Franchisees must be made to recognize from the outset that they are being allowed the opportunity to operate a proven network system, using an established name. They are not opening a business in which they are free to do their own thing. The position of franchisees is, in fact, unique in the field of commercial relationships.

Franchisees are not employees, although they work to instructions and will hopefully have been recruited with as much, if not more, care. They are not customers, although they will have been, and continue to be, sold products or services. They are not, whatever the PR message may say, partners. Not legally, anyway.

They are, in fact, people who have trusted the promises made by the franchisor and his staff to the extent that they are prepared to devote probably their entire financial assets and most of the waking life to the pursuit of the promised opportunity. In return, as we have seen, they expect to receive the support that they have been promised in terms of marketing assistance, training, network planning, product development, and general network advice.

The franchisor’s support staff must realise that their role is to deliver what the franchise sales staff have promised. The recruiters for their part must be careful not to promise more than the franchisor is capable of delivering.

Becoming a franchisor

Franchising is about supporting franchisees in order that they can operate a proven system, and that support must be available to the very first franchisee who joins the network. It may not then be necessary to add to the initial support staff until there are 15 – 20 franchisees, but they all need to be there at the start. If the early franchisees are not supported, they will not succeed and it will then become increasingly difficult to sign up others.

Similarly, the operations manual and legal agreement must also be in place at the start, as must the systems for monitoring and managing the performance of franchisees. Franchising, therefore, requires considerable up-front investment by the franchisor before there is any income stream.

Agreement and manual

The agreement and manual are the documents which lay down the ground rules which govern the relationship. They are linked together through clauses in the agreement, and both need to be professionally prepared by recognised franchising experts.

There is a substantial cost to be met in preparing these documents, but over the life of the network this will appear negligible, and will usually be amortised from the fees of the first few franchisees. Both documents must be properly prepared. Cutting costs here will create problems down the line which will prove far more expensive than taking proper advice at the beginning.

Support staff

Having agreed that franchising has its particular skills, the staff involved in the franchise operation should either have, or quickly acquire, those skills. Basically there are two choices, either recruit experienced franchise managers from outside, or have your own staff trained in franchise management.

Formal training is readily available from the Franchise Training Centre via a series of modules covering marketing the franchise, recruiting franchisees, monitoring franchisee performance and motivating franchisees. Delegates who complete all modules can choose to go on to prepare a dissertation showing how what has been learned has been successfully transferred to the workplace. That results in the award of the diploma in franchise management, which in turn has been accredited by Middlesex University and provides academic credits towards an MA work based learning studies (franchising). Details are available at www.franchise-consultants.com

Prospective franchisees may soon be asking for proof of such qualifications being held by the staff of the franchisor they are planning to join, and perhaps choosing to go with a different network which has more evidence of such a professional process.

Whether there is just one manager doing it all, or a separate one for each of the support functions, staff need to be proficient at recruiting, training, monitoring and motivating franchisees, with all the technology, knowledge and inter-personal skills called for by such responsibilities.

Recruiting franchisees

A franchisor has two marketing responsibilities – one for continuing to market the product or service; the other for marketing the brand opportunity and recruiting franchisees. These are not the same, and require different approaches. Presumably, if he has established the concept, the franchisor already knows how to market his product or service.

The feasibility study and franchise plan will have established how many franchisees are needed and where they should be located. The manual will make it clear what is required of the franchisee in terms of duties, responsibilities, knowledge, skills and attitude.

The franchise marketing plan brings the two together, and the franchisor needs to choose people, or perhaps companies, who fit a pre-determined profile and have the ability to succeed. It usually proves disastrous to simply appoint anyone who has the money to buy the franchise and to locate them wherever there is a blank space on the map.

There are any number of ways of reaching potential franchisees, but no way that is right for every franchisor. Having established a clear idea of what a prospective franchisee looks like, it becomes easier to decide where to look for them.

Professional advice will help to ensure that the concept is properly targeted, leads are handled effectively, and procedures are implemented to accept or reject applicants. The skills required by franchisee recruitment personnel include marketing, selling, business awareness, negotiation, and legal and financial understanding.

Concept plans

Subject to the usual lending criteria, all the banks are keen to lend to franchisees of a properly-structured and proven franchise. Most franchisors present their opportunity to the franchise sections of the banks to clear the way for later applications by their prospects.

Naturally, the franchisee needs his own firm plan, based on the experiences of other franchisees in the system and franchisors, or their approved third parties, can help with the preparation of these plans.

Agreeing company plans (both action plans and financial projections) with franchisees allows more sensible discussion of progress once the outlet is up and running, and most franchisors will insist on franchisees using a particular system of accounting. This can even be overseen by a professional adviser who monitors the performance of the entire network, rather than leaving it to in-house staff.

Once agreement to go ahead has been reached, the franchisor will commence his set-up and support procedure. This will differ in accordance with the type of business and may include help with locating and acquiring a suitable site; converting and equipping premises or vehicles; preparing a marketing launch package; and providing initial stock.

Whatever the business enterprise, it will include training for the franchisee, and probably his staff, in every aspect of the concept. This may be carried out either in classroom style, or hands-on at an existing unit, or in a mixture of the two.

Training is the very essence of franchising. It is how the franchisor passes on the proven format which he has developed and in which the franchisee has decided to invest. Having successfully completed initial training, franchisees should be able, or indeed required, to attend further training on a continuous basis.

On-going support

Franchisees expect and are entitled to continuing support in operating their network, whether this be concerned with new products or systems of operation, training, assistance with company development, encouragement during times of difficulty, and help in finding a purchaser for their concept if they want to move on.

The franchisor must learn how to both motivate and monitor franchises – motivate to encourage them to do better, monitor them to ensure that they are maintaining standards, both for their own good and that of the network as a whole. There are numerous techniques to achieve these aims, and professional advisers can explain how to implement them.

Conclusion

A brand can probably be franchised successfully if it is proven and successful in an established format; capable of being easily duplicated and easily learned; likely to be profitable for both franchisor and franchisees; and the management is prepared to accept considerable operational and cultural changes.

Franchising in the UK has come of age, and there is now a wealth of professional guidance available to prospective franchisors. If you are thinking “Should I franchise my business”, to not take advantage of such advice may turn out to be not just remiss, but fatal to the businesses of the franchisor and his franchisees.

If it is operated properly, franchising is a superb way of building a network in which everybody wins – the franchisor, the franchisees, and through the franchisees’ personal commitment to the success of their local outlets, the customers.

Stop Hunting After Royal Caribbean Employment Opportunities! Create Your Own Money Tree Online

Royal Caribbean employment opportunities are qualified from very well employment conditions and prospective placements equal to worldwide staff and crew. Exactly similar to its matches Carnival and Voyager, Royal Caribbean provides you the glorification of working at one of the most impressive cruise ships along with a phenomenal holiday traveling experience.

If you love meeting up and interacting with new people, a Royal Caribbean employment opportunity is tailor made for you. The additional advantage is that it offers you the ability to gain a beautiful non-taxable profit. Because of its large popularity with worldwide holidaymakers, the Royal Caribbean will all of the time be looking for new and energetic personnel to be recruited in a mixture of on-board and land-based tasks.

However, often these tempting career opportunities slip away from your hands if you adopt a wrong approach. If you believe the online placement agencies too much without collecting the right career information you can never get your dream Royal Caribbean employment in spite of investing your hard-earned money.

Still whenever you succeed to make it, you could observe yourself confronted with realistic troubles that you never guessed even existed. You may have to undertake rough sea conditions, maintain a formal dress code all the time and face non-cooperation from staffs and colleagues because of their lack of proper training.

Is there an alternative?

With the scope of online work expanding everyday, you do not have to depend on your luck for finding favorable employment conditions. You too can join a mass of 14,400 Americans who have willingly sidelined lucrative career opportunities for creating a source of residual income. This will not only give you a chance to make easy money, you can also exercise your creative and strategic skills through a home based business opportunity.

Advantages of a work at home business

Without an employer or overseeing boss to bog you down with work, you can fix your own working hours and manage your personal time as per your requirements. You will be able to live without being afraid from looking into economy and job market collapse and nobody could fire you. Online business systems simply require a computer set and an internet connection to start.

You can soon start earning without spending big bucks as office establishment charge, employee taxes and insurance bills. You can enjoy deductions like business use of a home, internet connections, telephone and long distance bills. All these serve to become great tax saving tools. You can work comfortably from your cozy corner without worrying about meeting deadlines.

Which are the best home based businesses for you

Transcription – Whenever you’ve an eye for detail and can bring down notations, written text could make up a beneficial online work alternative for you. You could prepare lists and prescriptions for international physicians and be exposed to a wide range of people globally.

Clerical/secretarial jobs – You can follow the online advertisements for clerical part time jobholders. Irrespective of where you stay, you can do data entry and earn generous income for your efforts.

A merchant affiliate – You can learn the business tools hands-on by assisting an established merchant in his tasks. This will generate you the power to manage several marketing tools, advertising places, education, and hand holding that could bring you the idea of how to conduct hits to your on internet site.

Whenever one of the first thing you associated with a Royal Caribbean engagement was the entertainment factor, you’ll be able to do it through your online business also. Hold exciting online events and encourage traffic to flow into your site.

Digital signage use in retail environments

A digital signs features virtually entirely changed typical signs in lots of unique corporations, like loan companies, educational facilities, dining establishments, and accommodations. Your list sector is a symbol of other sorts of small business focused sector together with which has converted just how that it requires their particular people. A digital signs gives a cost effective along with successful approach to achieve and recognize people although simultaneously working to strengthen sales along with strengthen quarterly aims. Understanding your business will be normally an essential element of accomplishing increased degrees of success. And from that the numbers of success of each and every individual sector can be assessed with the energy and styles of electronic digital signs.

Utilizing electronic digital signs in a list capability will serve being an very effective tool in addition to a reference in relation to in relation to your visitors. If you ever genuinely recognize the purchasing attitude of your people; then you certainly you will need to influence the specific useful operation of electronic digital signs in order to attract buyer curiosity along with tell potential customer obtaining choices immediately. By way of featuring distinctive sales or perhaps lower price alternate options, you’ll be able instantly alter a new sales immediately as part of your store. Realizing precisely what solutions easily sell rapidly along with exactly what your current customers are looking for lets you conform your current electronic digital signage information in order to answer along with address the prerequisites along with requires of your consumers.

Along with enjoying speedy sales chances, electronic digital signs throughout the world for list gives a cost-effective strategy to producing and disbursing produce offer activities. Print out offer development could use up energy, vitality, along with sources although electronic digital signs products the probability in order to update your articles whenever. In the event a person sales piece is not accomplishing such as expected, subsequently electronic digital signage will give you the capacity to change your current marketing and advertising product or service immediately although classic making activities will result in you numerous times amount of unnecessary head aches. In addition, electronic digital signs lets you aim for several industries of buyers simultaneously although produce advertising standard are designed to give full attention to a single part of your current viewers.

Also, electronic digital signs affords list market sectors the means of employing an extra profit resource. Suppliers could have an effect on the potency of electronic digital signs by simply being profitable using marketing and advertising marketing living space on their several vendors. This specific won’t build further revenue; but it surely will even perform in order to solidify supplier human relationships and to assemble creative imagination and human relationships together with equally recent and possible options. Furthermore, electronic digital signs will aid you to build your current manufacturer by simply showing an easy nevertheless effective and related continuous stream of real information or possibly a trustworthy willpower of giving your current clients precisely what they desire.

The Growing Industry Of Barbecue Sauce

Have you noticed lately when you go to the grocery store that the section for barbecue sauce is expanding? What used to be a market for only a few different brand names of virtually the same basic tomato based sauce is now a wide selection of sauces made by both big corporations like Kraft or Bulls Eye, to smaller companies who are only focused on their specialty sauces. From the Chicago based Sweet Baby Ray’s, to the North Carolina style Scott’s, they are all out there somewhere to be purchased. Some are nationally sold, others regionally, but with the ability to now purchase nearly anything via the Internet, you can even buy local sauces made in the Carolinas, Texas, or Kansas City. Don’t forget Memphis too.

Barbecue sauce has nearly surpassed all condiments in total sales, and increases as new products keep emerging. It seems once one brand adds a specific flavor, like a hot variety of sauce for example, then every other manufacturer follows suit. When a trend takes off within a specific market, it does not take long now in our automated world for the word to get out. Production seems to start instantly on new lines of products in all things, and barbecue sauce and its market is no different.

This up trend in the barbecue sauce industry has opened the door for any new upstarts to fight their way into the market. If you are a master griller who has come up with your own fantastic sauce recipe, it might be the time to begin bottling it and selling it. Another way to get your name out there is to enter some cooking contests with your sauce, and a few good showings or victories at these events will get your name out there as well. So don’t underestimate your culinary skills and don’t be afraid to put your sauce on the map.

More and more in every industry single individuals are making their products known to the world and selling them with success. The barbecue sauce industry is booming in this way, often through restaurant owners bottling and marketing their secret sauce to the public through their establishment as well as to local markets and on the Internet. Local sauces that were once unknown to the world are being presented to a much bigger market now with so many avenues of advertising available today.