#flat fee real estate chicago | Explore Tumblr Posts and Blogs

ian-marlow-boca-raton0 · 2 years

Text

What Is the Difference Between a Sales Consultant and a Realtor?

A real estate sales consultant is an independent contractor who works for a fee. These professionals are not National Association of Realtors members, but the Texas Real Estate Commission licenses them. The primary distinction between a sales consultant and a real estate agent is the nature of their business.

Real estate consultants are often compensated for their services on a fixed or hourly basis. Flat fees are frequently specified in the listing agreement. In this manner, the customer understands what to anticipate before the transaction is finalized. This form of compensation is also not affected by how much a house sells for. Many consulting firms operate hourly, making it easy to be paid. Invoices may be sent, and customers can pay using a credit card online. To monitor payments, you may also utilize online invoicing software. Square is another excellent alternative for sending estimates, invoices, and accepting payments.

Sales consultants are certified real estate agents, not National Association of Realtors (NAR) members. Realtors and sales consultants are both qualified and have the same professional title. However, they are not affiliated with the same organization. The National Association of Realtors (NAR) established a Code of Ethics in 1913, which all licensed real estate agents must observe. It includes 17 ethical considerations and 71 Standards of Practice for real estate agents. The code is revised every year and published in Realtor Magazine.

The NAR Code of Ethics is stricter than state regulations and is recognized as the mark of a professional. This code of ethics ensures that the person representing them is a member of a respected organization. It is advised that the real estate business you engage with be led by a NAR member to minimize misunderstanding and deception. On the other hand, designated Realtors are not required to be NAR members.

The Texas Real Estate Commission (TREC) is the state's licensing agency. Six real estate experts and three public members nominated by the governor make up the board. Members of the commission are responsible for defending consumers' interests in real estate transactions and valuation services. The TREC examines complaints, analyzes real estate enterprises, and develops laws controlling their actions and licensing.

Real estate brokers may represent both buyers and sellers. The former links potential buyers with a local real estate agent, while the latter administers the selling process. On the other hand, a real estate consultant does not engage in the selling process and is not paid a commission. Instead, they assist customers with house purchases and sales.

TREC professionals must utilize standard contract forms developed by the Broker-Lawyer Committee to balance the interests of both parties. On the other hand, a sales consultant or broker may modify the state to handle a particular circumstance, such as a difficult one. An attorney may be required in certain situations.

To become a licensed sales consultant or broker in Texas, you must first complete the required courses. The courses must be at least 120 hours long and delivered by an authorized education provider. The approach must include six thirty-hour courses, including Law of Agency, Promulgated contract forms, and Real Estate Finance. After completing these courses, you can establish your own real estate agent or broker company.

The National Group of Realtors (NAR) is a trade association representing real estate professionals in the United States. It oversees the commercial and residential real estate industries and has approximately 1.4 million members. The group is based in Chicago and holds a trademark on the word "realtor."

To comply with the NAR's Code of Ethics, sales consultants must adhere to particular requirements. First and foremost, they must be ethical in their advertising. They are not allowed to deceive buyers and sellers in their marketing. Furthermore, they are forbidden from engaging in illegal advertising.

The former primary broker of REALTOR(r) Q filed a complaint against her. She claimed that posting listing sales completed while linked with ABC on her website violated Article 12 of the NAR's Code of Ethics.

0 notes

kaijutegu · 7 years

Note

Wait why would your apartment manager care if you had a reptile? They don't really make noise or anything plus they ain't gonna run loose and bite anyone.

It’s...

Actually, it’s kind of an interesting story about a seedy Chicago real estate agency. So the apartments I live in had a pretty bad reputation- not that there was crime or anything, but I’m right by a bunch of hospitals and a lot of my neighbors are southeast Asians (mostly Indian) who are here for medical school. That’s not the problem. The problem is that Management Company A was having problems with housekeeping and maintenance in some of the units (which were built in the 80s and hadn’t been renovated in quite some time) and blaming it on them- I was once told by someone in the management office that “they don’t even let their women learn to read,” and he said that in all seriousness, like he thought I’d commiserate with him instead of saying “why would you say that, you know my neighbors are female medical students, that’s pretty racist.” They’d always been super nice to me, but, y’know. I’m white. I didn’t know how dang racist they were when I moved in, otherwise I wouldn’t have signed the lease. Anyways, Company A for some mysterious reason gets a lot of bad reviews on the apartments, they’re losing money and tenants, and so they sell out to Company B. And Company B was shady as hell. Company A informed us of the transition, and when Company B moved in, they went over everyone’s lease and found new and interesting ways to charge them. They tried to charge my elderly across-the-hall neighbor extra maintenance fees for her wheelchair- she had a power chair, and they were going to charge her extra fees for wear and tear, which is illegal. My animals are in my lease, and despite Company A telling me that there wouldn’t be any problems and that I’d be grandfathered in, Company B said they had a new pet policy: one dog under 25 pounds or one cat per unit, nothing else, and pet rent went up from a flat payment of 100 per year to 100 per month. And no pets would be grandfathered in- so if you had a big dog, you had to move. Suffice it to say, people were freaking out, me included. They also closed our swimming pool, took one of the elevators out of commission (that had JUST BEEN FIXED), turned off the air conditioning in the laundry room, and just generally made everyone miserable...

Until three weeks later, when Company B disappeared. They just up and left, didn’t tell anyone. Didn’t tell maintenance, didn’t tell the concierge- they just fucking left. There was no one in the front office for like a week, and then Company C moved in- and that’s who we’ve got now. They’ve done a lot of work to rebrand the apartments, including a new name, renovating all the units, and renovating the infrastructure and amenities buildings, and they went back to the original pet policy (no rodents and no aquariums over 60 gallons, which has more to do with the potential damage that 60 gallons of water dumped on the floor can cause than anything else).

Company C is a pretty good management company. Company C’s agents, however, are all under a non-disclosure agreement re: what happened with Company B. I can find no mentions of Company B online, their website is gone, and the one e-mail I had during the less-than-a-month tenure of Company B gives me no clues as to what happened to them.

#mamavori #answered

113 notes · View notes

collegeeducationnewsllcusa · 3 years

Text

Research suggests a smarter way to solve the student debt problem

Editor’s Note: This article was written by Constantine Yannelis, an Assistant Professor of Finance at the University of Chicago Booth School of Business, and shared by the Chicago Booth Review. The essay is based on a statement Yannelis submitted in April 2021 to the Economic Policy Subcommittee of the US Senate Committee on Banking, Housing and Urban Development.

Education is the single, highest-yielding investment most Americans will make, so it is fundamental for US households and the economy to get our college funding system right.

A key point in the student loan debate is that borrower outcomes vary widely. It is undeniable that a significant number of borrowers are struggling and are sympathetic candidates for some sort of relief. Student loan balances have risen sharply over the past few decades. According to the New York Fed, student loans had the highest default rate of any form of household debt last year.

Most student borrowers end up being high earners with no difficulty paying back their loans. College education is, in the vast majority of cases, a ticket to success and a high paying job in America. Of those struggling to repay their loans, a large proportion attended a relatively small number of institutions – mostly for-profit colleges.

At the heart of the problem in the student loan market is the misalignment of incentives for students, schools, and the state. This misalignment is due to borrowers using government loans to pay for school fees. When borrowers end up getting bad jobs and failing to pay back their loans, the schools are off the hook – the taxpayers bear the cost. How do we solve this incentive problem? There are many options, but one of the most commonly suggested solutions is universal loan relief.

Various forms of flat student loan cancellation have been suggested, but all of them are extremely regressive and help higher-income borrowers more than lower-income borrowers. This is primarily because people who go to college tend to earn more than those who don’t go to college and people who spend more on their college education, such as those who go to medical or law school, tend to earn more than those who spend less on their higher education, such as college dropouts or associate graduates.

My own research with Sylvain Catherine of the University of Pennsylvania shows that most of the benefits of a universal loan cancellation policy in the United States would go to high-income individuals, six to eight times as much for those in the top 20 percent of the income distribution Debt relief like individuals in the bottom 20 percent of the income distribution. These basic patterns also apply to limited forgiveness guidelines, which limit forgiveness to $ 10,000 or $ 50,000.

Another problem with limited student loan forgiveness is that many borrowers in difficulty will still struggle. A small number of borrowers have large balances and low incomes. Policies that cancel debt of $ 10,000 or $ 50,000 neglect their significant problems.

While income exits – measures that limit or cut off relief for people above a certain income threshold – make forgiveness less regressive, they are blunt tools and result in many individuals making large sums of money over the course of their lives, such as significant lending.

A fact that is often overlooked in the political debate is that we already have a progressive student loan cancellation program, which is earnings-based repayment.

If policymakers want to ensure that funds progressively get into the hands of borrowers at the lower end of the income distribution, blanket student loan forgiveness will not achieve that goal. Rather, the policy primarily benefits high earners.

While I believe from my own research that student loan issuance is regressive, so is the consensus of economists. The Initiative on Global Markets at the Chicago Booth asked a panel of prominent economists to comment on this statement: “If the government were to raise additional debt to pay off the outstanding loans, it would be net regressive.” The panel included economists from leading institutions from left and right right. The results of the survey were instructive. Not a single economist disagreed with the idea that student loan issuance is regressive. This is because the facts are clear – to use a commonly used phrase, “The science is clear” – student loan making is a regressive policy that mostly benefits those in the upper income and upper middle classes.

Another facet of this policy issue is the impact of student loan waivers on racial inequality. One of the most worrying flaws in the federal loan program is the high default rates and significant credit burdens on black borrowers. And student debt was seen as a contributor to the black and white wealth gap. However, the data shows that student debt is not the primary driver of the wealth gap, and foregoing student loans would make little headway to fill the gap, but at a huge cost. The average net worth of a white family is $ 171,000 while the average net worth of a black family is $ 17,150. The racial wealth gap is thus approximately $ 153,850. According to our paper, which uses data from the Survey of Consumer Finances and does not take into account the present value of the loan, the average white family owns $ 6,157 in student debt while the average black family owns $ 10,630. These numbers are unconditional for holding student debt.

So if all student loans were canceled, the racial wealth gap would shrink from $ 153,850 to $ 149,377. The credit cancellation policy would cost about $ 1.7 trillion and reduce the racial wealth gap by only about 3 percent. Certainly there are much more effective ways to invest $ 1.7 trillion if the goal of policymakers is to fill the racial wealth gap. For example, targeted, means-tested social security programs are much more likely for black Americans compared to student loan waivers. For most American families, their greatest asset is their home, so increasing real estate values and home ownership among Black Americans would likely do much more to fill the racial wealth gap as well. Yet the racial income gap is the main reason for the wealth gap; Wealth is ultimately determined by the income and skills of workers – what economists call human capital. To sum up, foregoing student loans is a costly way to fill a very small fraction of the black and white wealth gap.

How can we relieve borrowers who need it while avoiding large payments to wealthy individuals? There are a number of policy options for the legislature to consider. One of them is restoring bankruptcy protection to student loan borrowers.

Another option is to expand the use of income-related repayment. One fact that is often overlooked in the political debate is that we already have a progressive student loan allocation program and that is income driven repayment (IDR). IDR plans tie payments to income: Borrowers typically pay 10 to 15 percent of their income above 150 percent of the federal poverty line. Depending on the plan, remaining credit will be waived after 20 or 25 years. So if borrowers, as low-income people, earn below 150 percent of the poverty line, they never pay anything and the debt is canceled. When borrowers earn small amounts above 150 percent of the poverty line, they make some payments and receive partial forgiveness. When borrowers make a high income, they repay their loan in full. Put simply, people on higher incomes pay more and people on lower incomes pay less. IDR is thus a progressive policy.

IDR plans provide relief for borrowers in difficulty who are faced with adverse life events or otherwise unable to earn a high income. There have been problems implementing IDR plans in the US, but recent laws can also resolve them. Many countries such as the UK and Australia successfully operate IDR programs that are administered by their respective tax authorities.

In addition to relieving the burden on borrowers, which is important, we could do more to address technical issues and incentives. We could provide service providers with more tools to contact borrowers and let them know about repayment options like IDR, and we could also encourage service providers to sign up more people for an IDR plan. But while we may be able to make some technical fixes, service providers are not at the root of the problem in the student loan market: a small number of schools and programs are responsible for a large proportion of the negative results.

To remedy this, policymakers can also directly align incentives for schools and borrowers. For example, Brazil, which has had similar problems with its student loan program, recently put schools in the picture by requiring them to pay a fee based on dropout and failure rates. This helped align incentives for schools and student borrowers. Flowing income from IDR plans directly to schools or implementing income-sharing agreements where individuals pay an unlimited portion of their income could also help align incentives for schools, students and taxpayers.

Federal student loans are an important part of university funding and intergenerational mobility. The root of our student loan crisis is a misalignment of incentives. Since the problem is so slow and continuous, I like the analogy of a frog slowly boiling in a saucepan of water over a flame. Policies like student debt relief don’t put out the fire – they don’t solve the incentive problem. All they do is put the frog in a slightly cooler pot of water. And if we don’t get to the heart of the problem, even if we cancel $ 50,000 in debt for the current borrowers, the balances will keep growing, and we will face a similar crisis in 10 or 20 years.

source https://collegeeducationnewsllc.com/research-suggests-a-smarter-way-to-solve-the-student-debt-problem/

0 notes

saleswithlisa-blog · 4 years

Text

Real Estate Firm San Jose

What Does a Real Estate Broker Do?

In an era of instantaneous gratification and technology where big is often better, a Boutique Real Estate Firm San Jose in the industry providing only the finest real estate services to their clients. In recent years, the number of these firms has been on the rise in response to the rising popularity of Real Estate. These firms offer all the same Multiple Listing Service(MLS) service as more established firms. They will often also offer full service brokerage services for a fee.

While the market may be saturated by the larger Real Estate firms, some smaller, boutique firms may be able to penetrate and provide great service to a limited audience. In a growing city there may not be enough local buyers for a property that a larger Real Estate Firm would be able to afford. In this case a smaller firm specializing in the specific niche of property in the local market could fill the gap. With the appropriate marketing and advertising, these smaller firms could become the new Bigger Firm.

A third method that smaller real estate firms can utilize to remain competitive is by offering tenant representation. Tenant representation allows a real estate firm to handle leasing transactions in addition to commercial properties. Most tenant representation agencies have a wide range of properties that they can lease to potential tenants. In most cases, these agencies will have contracts that allow the property manager to contract out the leasing to any tenant that expresses interest in renting the property. Such a tenant representation can help the smaller firm to better serve its client by providing them with a list of viable renters, rather than attempting to bring in an untrained and inexperienced renter.

Even though a Chicago real estate firm may have several properties to manage through leasing, it might be necessary for them to retain another Chicago property manager. A property manager is an investment real estate sales professional that handles the leasing and management of Chicago properties. These professionals are usually full-time employees of the property management firm and are paid a certain amount of money per year. This can include a flat fee, or a percentage of the yearly rent that is collected. These managers can be found in every corner of the city, from the north suburbs all the way down to the Southeast.

Many times, smaller firms may not need the services of a property manager in order to effectively manage their Chicago leasing portfolio. However, in some cases, the employment of a property manager can prove essential. For instance, if a Chicago real estate firm owns many different properties, it can be difficult to keep up on them all on a daily basis. A tenant representation firm would be able to assist a smaller firm by maintaining a daily schedule of all of the Chicago Leases.

For some larger real estate firms, full time employees are unnecessary, and they do not require the employment of a property manager. However, for other firms, such as those who lease commercial real estate space, hiring a property manager can be essential. These firms have a much larger responsibility that involves a great deal of detail, and it would be nearly impossible to keep up with them all on a daily basis. A real estate investor will need to have someone dedicated to leasing and managing their portfolio of Chicago homes and commercial real estate space.

One of the most common services that these firms provide our tenant representation. Most of the time, these clients come to the firm in order to negotiate monthly payments and other important details of the lease with the property owner. In some cases, they may also come to the firm to represent the interests of the property owners themselves. Regardless of the type of transaction that occurs at this stage, it is always best for a real estate services firm to have an experienced and qualified employee assigned to the task.

One of the most popular tasks for the Chicago office of a real estate brokerage firm is to assist its clients with the purchase of a home or property. Buyers will need to find a suitable property to purchase, so that it will be convenient for them to move in. The assistance of a Chicago real estate firm should be considered when looking to purchase property because the buyer's needs must be met. A licensed broker will be well trained in all aspects of real estate and the processes involved in purchasing residential or commercial real estate in Chicago.

#Real Estate Firm San Jose

0 notes

blogwiseguy123world · 4 years

Text

Global Public Transport Market Insights, Overview, Analysis and Forecast 2020-2026

Summary – A new market study, titled "Global Public Transport Market 2018 by Manufacturers, Countries, Type and Application, Forecast to 2023" has been featured on WiseGuyReports.

Public transport (also known as public transportation, public transit, or mass transit) is transport of passengers by group travel systems available for use by the general public, typically managed on a schedule, operated on established routes, and that charge a posted fee for each trip.

Also read – http://www.digitaljournal.com/pr/3961378

This report studies the Public Transport market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Public Transport market by product type and applications/end industries.

Urban public transit differs distinctly among Asia, North America, and Europe. In Asia, profit-driven, privately-owned and publicly traded mass transit and real estate conglomerates predominantly operate public transit systems [6][7] In North America, municipal transit authorities most commonly run mass transit operations. In Europe, both state-owned and private companies predominantly operate mass transit systems, Public transport services can be profit-driven by use of pay-by-the-distance fares or funded by government subsidies in which flat rate fares are charged to each passenger. Services can be fully profitable through high usership numbers and high farebox recovery ratios, or can be regulated and possibly subsidised from local or national tax revenue. Fully subsidised, free of charge services operate in some towns and cities.

The global Public Transport market is valued at xx million USD in 2017 and is expected to reach xx million USD by the end of 2023, growing at a CAGR of 18.0% between 2017 and 2023.

The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.

North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Public Transport.

Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.

Market Segment by Companies, this report covers

Metropolitan Transportation Authority

Transport For London

MTR Corporation

Guangzhou Metro

Madrid Metro

Washington Metropolitan Transit Authority

Seoul Subway

The Massachusetts Bay Transit Authority

Chicago Transit Authority

Bay Area Rapid Transit

Market Segment by Regions, regional analysis covers

North America (United States, Canada and Mexico)

Europe (Germany, France, UK, Russia and Italy)

Asia-Pacific (China, Japan, Korea, India and Southeast Asia)

South America (Brazil, Argentina, Colombia)

Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Market Segment by Type, covers

Bus

Tram

Underground (Metro)

Regional taxi

Light rail

Train

High-speed line South

Market Segment by Applications, can be divided into

City

Rural

For more details - https://www.wiseguyreports.com/reports/3431255-global-public-transport-market-2018-by-manufacturers-countries

About Us:

Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.

NORAH TRENT

[email protected]

Ph: +162-825-80070 (US)

Ph: +44 2035002763 (UK)

0 notes

listedsimply · 5 months

Text

A Detailed Guide to Professional Real Estate Photography for MLS Listing

How to Use Professional Photographs in the flat fee MLS listing.

Whether they are working with an agent, prospective homeowners are drawn to different homes by the images when they are browsing through listings online. Listings without photos are frequently clicked on or browsed past. Indeed, research indicates that over 90% of prospective homeowners look for properties online, and 85% of them state that the most crucial aspect in selecting which properties to see is the images. Later in the piece, we'll go into more detail on the importance of high-quality images, but first, it's critical to understand why professional photographs MLS are significant to both you and your customers.

The Basics of Professional Photography in the MLS

First, a basic understanding of copyright law is necessary to comprehend what is required to utilize professional real estate photography in the Multiple Listing Service.

The owner of the copyright is the person who took the picture.

The copyright holder of an image has certain rights, just like the owner of a house. An assignment is a formal document that is necessary to transfer the copyright owner's entire ownership interest in a photograph.

Similar to how a grant deed gives the grantee full ownership rights in real estate, a written assignment gives the photographer all ownership rights to the assignee.

The majority of professional photographers do not like to give a customer all of their photographic rights. Rather, they would like to transfer a license, which is a transfer of only a portion of the rights.

This procedure is comparable to a homeowner who agrees to grant another individual—referred to as a tenant—the right of occupancy. Except for the right of possession, which the homeowner forfeited, the homeowner retains all other rights.

Generally, basic standard contracts grant you a limited-use license, which limits the usage of the images to a predetermined period. Once the listing is taken off the market, the license to the images usually ends. Given the situations that may result in copyright infringement, it is highly advised that you carefully review the terms of your agreement with the photographer and secure the broadest license type possible.

When setting up a license agreement for professional photographs MLS, the following situations should be taken into account:

The capacity to make use of and recycle photos if a listing is relisted after being sold

Permission to share the photos for as long as you like on your website or social media

The permission granted to another agent to take over a listing without needing to obtain a new license

To obtain ownership of the images, it will be advantageous to negotiate the assignment of rights, even though it may entail additional expenditures. The ownership and copyright of the professional real estate photography will then be expressly stated in the contract.

Rules and Regulations

No texting is allowed, regardless of the message. For messages and visual descriptions, use photo captions.

It is prohibited to digitally edit the image (also known as "photoshopping") to the extent that it no longer correctly depicts the property.

Don't duplicate listing photographs for your use unless another MLS subscriber has permitted you.

Signs, banners, marketing materials, and other promotional items from brokers, agents, or builders are not permitted in the picture.

No humans or pets should be shown in any images or videos of the property that is listed. Photos of farm animals, wildlife, and harvested game are allowed. Lifestyle videos that are taken from above are an exception. In this case, no one should be recognizable, and animals might be visible.

If you want more assistance in professional real estate photography for MLS, you should connect with a professional company. Listed Simply is one such company that can help you with your property transactions and MLS listing.

#listedsimply #realestate #mlslisting #flatfeemlslisting #propertyforsale #flat fee real estate chicago #flat fee MLS #homeownership #house selling #Flat fee listing agency #real estate agent #real estate

0 notes

pearlmcarney-blog · 6 years

Text

How to Make Extra Cash Renting Out Your Stuff

If you're like me, you probably own plenty of things that you only use every once in a while. Whether you've got an empty bedroom, a collection of cocktail dresses, assorted athletic equipment, or a car that you only drive once or twice a week, you could be putting your stuff to work for you. Renting your stuff is a great way to make extra money.

Renting out your stuff is a no-muss, no-fuss way of earning some part-time money without taking up a big chunk of your time.

Consider these options for renting out your stuff:

Rent Out Your Real Estate

You don't necessarily have to take on a roommate to make money from your property. These websites will allow you to find renters for your real estate.

Check out: Buying a House Will Slow Down Your Path to Financial Independence (But You Should Do It Anyway) for more information on how a house can help you achieve your goals.

AirBnB

Airbnb is the go-to rent-your-space website for anyone with a spare room, spare property, or frequent travel schedule. The site connects you with paying travelers looking for accommodations and gives you complete control of your bookings, house rules, and how you interact with your guests.

You can trust that you and your home are safe through Airbnb. All guests must provide government identification and agree to house rules before booking your property. If something were to happen, Airbnb's Host Guarantee offers damage and liability protection. Airbnb also provides 24/7 global customer support.

In addition, Airbnb provides a $1 million insurance policy to keep your belongings and home secure, as well as $1 million policy to protect your home in the case of an accident.

You choose the listing price for your space and can receive payments through PayPal, direct deposits, or another method of your choice. This service is free to sign up, but, Airbnb charges hosts a 3% flat fee per reservation.

Airbnb: Rent Out Your House, Room, or Couch Earn money as an Airbnb host. 3 steps: Create your listing, greet your guests, get paid! Get Started

VRBO

VRBO stands for Vacation Rental By Owner, and this site is geared toward property owners with vacation homes for rent. Whether you have a condo in a ski resort, a cabin by the lake, or a beachfront apartment, you can sign your property up with VRBO and earn money renting out the vacation home you're not using.

All bookings are paid using a registered payment method, which gives you eligibility for coverage through VRBO's Book with Confidence Guarantee. Under this guarantee, you will receive 100% of the security deposit if funds are wrongfully withheld.

Keep in mind, all service fees will be paid by renters. However, it's important you carry liability insurance in case something were to happen to a traveler or your home.

Gamping

Do you have extra land that goes unused every year? Why not make extra cash renting it out to campers or party goers? They get to enjoy a private campground in the great outdoors, and you get to supplement your income.

You also have the option to provide your campers with tents, tree houses, yurts, and any other outdoor properties for their accommodations. Prices vary depending on your location and what kinds of accommodation (if any) that you are offering. Once your property is booked, you will receive your payment several days after the completion of the trip. Gamping charges a 7% service fee to all hosts. They use MangoPay to secure all payments.

It's important to note that the site doesn't check user information, which means it's up to you to verify each renter and the personal information they provide. You will also be responsible for any loss or damages that occur during the duration of your campers' stay, so you will also want to carry liability insurance in case of damages.

CurbFlip

If you have an empty lot, parking space, or even boat slip, CurbFlip allows you to rent your space for extra cash. CurbFlip is offered in most major cities in the U.S. and elsewhere around the world.

You can rent out your space daily, weekly, or monthly, which means you can have multiple bookings at any given time. CurbFlip also allows you to set your own price for your parking spot. This can be particularly helpful if your parking spot is near a tourist attraction or sports venue, as you can adjust pricing when demand goes up.

CurbFlip charges a 16% fee for any spaces rented. If you choose to use PayPal as your method of payment, they will also charge you an additional 3%. Keep these relatively steep fees in mind when choosing your price.

However, each renter and lender is required to provide all personal information to the CurbFlip app, which allows you to communicate with your renters and receive payment. The way the system is set up means you don't necessarily have to meet your renter, nor do you have to worry about payment, as it comes through to you automatically.

As with all real estate rental, make sure you carry insurance, just in case. CurbFlip will not claim liability if something were to happen to your property or someone were to get injured while renting your space.

Rent Out Your Transportation

Cars are meant to be driven, bikes are meant to be ridden, and boats are meant to feel the salt sea spray across their bows! If you have a method of transportation that is sitting idle, you will make it and your wallet very happy by renting it out. Here are several sites that will help you do so.

Check out: Simple Car Care Tips so you can keep your car in excellent rentable condition.

Turo

Turo connects travelers looking for rental cars with local car owners. Simply create a listing for your car, add a description, upload photos, and you're ready to start earning money. You will receive a notification once someone would like to rent your car.

When renting your car, you can drop it off at a designated location, drop it off at the airport, or have the customer come to you. Once your customer's trip is complete, you can meet them to pick up your car.

Turo sets your list price based on your location, the market value of your car, time of year, and additional data. According to Turo, you will make 65% to 80% of the trip price depending on your package. You can bump this to 90% if you waive the insurance coverage, but you'll have to buy insurance elsewhere so weigh the costs here.

According to the website's estimates, if your car has a market value of $28,000 and you rent it for at least 15 days out of the year, you could make about $7,526 a year.

Turo covers your car with a $1 million liability insurance policy and provides 24/7 roadside assistance throughout the trip. You also have the ability to set controls for the mileage, price and gas usage.

Turo: Peer-to-Peer Car Sharing Turo allows you to rent your car to travelers in your area. It's free to get started. Learn More

Getaround

Getaround is another peer-to-peer car rental service, but it is available in fewer markets than Turo. Currently, it is only available in San Francisco, Berkeley, Chicago, Oakland, Portland, and Washington D.C.

In addition, Getaround has a slightly different process for rentals. To get started as a lender, you must create a profile for your car. This profile will include a unique URL to market your car, location, pick up and drop off instructions, and availability.

Once you've created your profile, Getaround will pick up your car to install Connect

, which provides GPS tracking, anti-theft functionality, and cellular communications to a secure network. Connect

also helps verified renters locate your car and lock and unlock your car–any other non-verified users attempting to get into your car will be locked out.

Getaround provides primary insurance but your car must be insured while on your watch. They also provide 24/7 roadside assistance for any bumps in the road. You can try this service for 30 days free of change. Once your 30 days are up, you will be charged a $99 installation fee as well as a $20 monthly service fee.

Getaway takes a 40% commission on all of your rides but claims that you can earn $1,000s of dollars a month for renting your car. Additionally, if you promote this service on social media, you can give your friends and family a $20 credit towards the service.

Spinlister

If you have a bike (or surfboard, snowboard, stand-up paddleboard, or ski equipment) that doesn't get nearly as much exercise as it would like, you can rent it out with Spinlister. As a lister, you post your bicycle (or other rentable sports equipment), the available dates and time, and the price for your rental. Spinlister takes a flat 17.5% of your rental payments, and you can choose your rental price based at an hourly, daily, or weekly rate.

Spinlister offers you protection for up to $10,000 if your bike is damaged or stolen. In addition, the company requires renters to sign a rental agreement that provides protection to bike owners in case of injury. The site reassures potential bike listers that they will never be held responsible if a renter gets injured on a ride.

Boatsetter

They say that the two best day's in a boat owner's life are the day she buys the boat and the day she sells the boat. Boatsetter is here to prove that wrong. Rather than let your boat just sit when you aren't able to get out on the water, Boatsetter allows you to make money on your boat–with the security of hull and liability insurance policies built into the service.

You are in complete control of your listing. You get to select availability, determine your boat rules and set the pricing for your rental. Boatsetters offers around-the-clock customer service, as well as a database of USCG, licensed captains to keep your boat running safely. They also run each user's identity through a service called Cognito, which verifies that each payment matches the user's identity.

When someone books your boat, Boatsetters will hold a $500 deposit until the trip is completed. Upon completion of the trip, Boatsetters will take their fee and send you the rest of the payment. The fee ranges between 10% and 15%, depending on the number of rentals you schedule through Boatsetters per year. The fee goes up to 35% if you use the Boatsetter insurance policy.

Rent Your Clothes

Don't let your duds just hang in the closet! Make sure they get to go to parties and weddings, even if you don't.

Style Lend

This site allows you to lend your favorite style pieces to people around the country, although Style Lend only selects certain brands for approval. Start by creating a listing with a description and photos. Within 24 hours your listing will be approved and you're ready to start lending out your closest.

For a $5 insurance fee on every rental, Style Lend provides an insurance policy on all items rented to cover up to $50 in repairs. If an item is beyond repair and needs to be replaced (or over $50 in damages), Style Lend will replace the item or compensate you for the current market value of the dress and bill the renter. They suggest listing your style pieces for at least 5-10% above market value. This will depend on wear and tear of each item.

Once you have a renter, you print off the shipping label and send the item off. Upon receiving the item back make sure you wash it and inspect it for damage. You want to make sure it's ready to go for the next renter. Style Lend lets you keep 80% of the profits from renting your favorite clothing items.

They suggest listing items that are worth $300 or more. These items tend to be more attractive to potential renters. Their most sought after rentals are dresses, shoes, and handbags.

Rent Everything Else

If you've got stuff hanging around the house, you can probably find a renter for it. Try renting out your stuff with one of these sites:

Fat Llama

Lend everything from your favorite camera to your favorite sports equipment using Fat Llama. This site allows you to list your items for free and connect with people in your community who are in need of your offerings. Simply create a listing with a photo and description and then approve the rental requests.

You can arrange a convenient rendez-vous to drop off your item to the designated renter. In order to protect your item from getting damaged or other rental issues, Fat Llama provides an insurance policy of up to $30,000. In addition to insurance protection, Fat Llama requires every user to submit identification documentation and complete a Smart Verification process.

Fat Llama also provides 24/7 customer support for lenders and renters. They want to make sure every customer is 100% satisfied and can find what they need. Fat Llama has a Resolution team standing by to help you resolve any problems with your rentals.

Fat Llama was not only created as a way to make money but also connect people and reduce environmental impact. By meeting and sharing possessions, you have the opportunity to build bonds with others in your community and reduce consumption by opting to share instead of purchasing unnecessary products.

Fat Lama: Make Money Renting Out Your Stuff Fat Lama is the platform that lets you rent out your belongings to others nearby. $25 free credit on sign up. Sign Up and Get $25

Craigslist

You may think of Craigslist as the OG online sales platform, but it's also a potential place to post things for rent, especially if you have something unique to rent out. However, unlike many other rental sites, Craigslist doesn't provide a lot of consumer protection. They leave it up to the buyers and sellers to work it out among themselves. They offer tips and tricks to safely exchange items, but there is no safety guarantee or insurance provided.

Since Craigslist doesn't screen their users, it may be beneficial to take down as much information as possible about your potential renter. Especially, since you need the item to be returned, you need to know where to find your renter if something were to happen.

RentNotBuy

This platform was established when the creators realized how difficult it could be for outdoor enthusiasts to find the gear they needed when visiting remote locations or smaller townships. Rental shops are not always available in smaller cities–so RentNotBuy was created to give locals the ability to rent out their gear in exchange for a little cash.

Unlike most of the other sites on this list, RentNotBuy has outside backing which allows them to provide their services for free. You can create a listing for any item you desire. You control the price and availability. The site provides tools and resources you need to have the most successful rental experience.

However, RentNotBuy doesn't verify renters' identification. You will have to request copies of government IDs and personal information to make sure your items are properly returned. RentNotBuy also doesn't process payments for users, so you might want to choose a payment service such as PayPal for protection against fraud.

Also, RentNotBuy doesn't provide insurance. So, if you're concerned about your items not getting lost or stolen, you may want to insure your valuables.

All that said, since RentNotBuy does not charge any fees whatsoever, you get to keep every penny of whatever you make from your rentals.

Start Your Own Rental Business

As lucrative as it is to rent out the stuff you already own, you could be making even more by cutting out the middleman and starting your own rental business. There are a number of rentable items you can invest in for a relatively low upfront cost. These include:

Party or wedding equipment

Bounce houses

Bubble machines

Furniture

Clothing or costumes

Artificial flowers

Chocolate fountains

If you're serious about starting your own rental business, here are a few steps to follow:

Do some research: Will your product be profitable throughout the year? (For example, depending on location, an inflatable rental business may not be profitable in the winter.) What insurance will you need? Do you need a license to offer rentals? There are countless details that go into starting any business, so make sure you fully understand what you need in order to launch your rental business.

Get your documentation in order: Once you know the documentation required, start applying for your business license and insurance requirements. Make sure to keep copies of all documentation.

Purchase inventory: To keep your upfront costs low, start with just a few products and purchase more as your business grows. You don't want to purchase 10 inflatables to find they are sitting unused for most of the season. Be reasonable with your inventory and purchase what you need to launch.

Market your items: How will people find you? You can always start by listing your items on the sites we covered above until you have grown enough to create your own website to promote your business. Use social media and other networking sites to market your business.

Connect to other business owners: Meeting service providers in related fields can be an invaluable source of referrals. For instance, connecting with party planners can help you with referrals for everything from party rentals to bubble machines to costumes, and befriending local real estate agents can help you with your furniture or artificial flower business when a seller needs to stage their home. Joining a local business professionals group can really help with this step. Check out your city's Chamber of Commerce to get involved in your city.

Watch your business grow: Continue to promote and market your business. Run incentives and coupons to increase your sales. There are plenty of ways to grow your business.

Check out: 5 Critical Things to Do Before Starting Your Own Business for more advice on getting your rental business off the ground.

The Bottom Line

You spend your hard-earned money to buy all the things you own. Your stuff can return the favor by earning you some extra income through rentals.

Have you ever rented out your things with one of the above services? Do you earn money with your own rental business? Tell us how it's worked for you in the comments!

The post How to Make Extra Cash Renting Out Your Stuff appeared first on Part-Time Money.

0 notes

bemidjidevelopmentnews · 4 years

Text

Investment Strategies To Learn Before Trading

The Benefits Of Investing In Real Estate

The longer I make investments the less emotional I get, as a result of the system actually works. Since I know I have a solid investing strategy, I focus much more of my time on earning money as a substitute of tinkering with my investments.

And it noticed an unimaginable actual property bust in the course of the Great Recession. Las Vegas’ get well hasn’t made the identical headlines as the 50% or larger declines in home values did a decade in the past. For savvy investors, the Las Vegas actual property market is both steady and predictable. Throughout 2019, the Las Vegas housing market was the most well liked in the United States.

This constant development has been driven by a buoyant economic system creating jobs. Tourism is also high, driving sturdy returns in the holiday rental market.

What is a real estate strategy?

For successful investors, a real estate business strategy is clearly defined with short and long term goals. In essence, they’ve designed a roadmap to their destination that reveals not just the easiest route, but highlights potential pitfalls along the way. Make sure to check out this free download of the best house flipping software in 2020.

The Greater Phoenix area was additionally predicted to be among the prime housing markets within the yr 2020. Phoenix housing market 2020 started so sturdy that only one thing as drastic as the continuing pandemic could have impeded the actual property sector.

The yr 2020 started with an excessive scarcity of houses for sale, and an growing variety of sales over asking price of property house owners. Denver also makes in the listing of the best places to spend money on actual estate in 2020 & 2021. Rentals in this city have been gradually growing over the years.

As we already mentioned, you can either keep your property uninhabited or rent it out for some extra money.

It takes time for sizeable natural appreciation to happen.

Meanwhile, you will take pleasure in your passive revenue from actual estate or work on growing your investment portfolio with one of the best real property investment methods.

While property managers will charge you a proportion of the monthly rental income or a flat fee, they’ll have the ability to optimize the management of your property and increase your profitability.

You want to take advantage of profitable investments and that can’t be carried out if you are dropping cash, or spending more than you can afford. Keeping in thoughts your financial status in addition to rising mortgage rates will allow you to to refine the type of property you wish to invest in. If you’re renting out your funding property on a long run basis, begin excited about switching to a short time period rental strategy. Short time period rentalstypically make a higher profit per month than long term rentals. This is especially true when you flip your property into an Airbnb rental.

Jobs are a major cause why individuals move to Denver within the first place. Denver’s unemployment price has been properly below the national average for years.

Is Turnkey Property The Best Real Estate Investment Strategy?

The giant inhabitants of renters signifies that rental revenue from a Chicago investment property is far better than you’d see when you invested elsewhere within the nation. The common hire for a one-bed room condo is roughly a thousand dollars. Two-bedroom residences in Chicago value a mean of 1300 dollars a month.

Rental rates for Chicago rental properties are appreciating extra slowly than average, increasing at zero.9 % a year. This is one third lower than the 1.5 percent rental fee improve in 2019 for the country as an entire. The average home in Chicago sits on the market for 50 to fifty five days. How can we miss Las Vegas in our record of finest locations to invest in real estate?

Top Small Cap Stocks For September 2020

Of course, you could need to invest in some furniture and electronics for your rental property to make it more appealing. But this small funding into your individual property won’t break the bank. With the best administration, your Airbnb rental property could possibly be one of the most profitable investments you ever make in your life.

This post titled Investment Strategies To Learn Before Trading was originally posted on from this website Bemidji Development News

#business #real estate #investing

0 notes

unixcommerce · 4 years

Text

Top Pizza Franchises for 2020

Pizza is always in demand with consumers, which means it provides plenty of thriving franchises. Today’s best pizza franchises range from traditional delivery outlets to trendy build-your-own pie restaurants.

Get your slice of the thriving pizza market with our best pizza franchise list topped with the finest advice in the business.

Pizza Hut and Domino’s may be the largest restaurant franchises, but you are not limited to them. Here are 30 of the best pizza franchises.

1. Pizza Hut

Pizza Hut operates the most pizza franchises in terms of locations. The company enjoys a 58 year history of success, from its founding by brothers Dan and Frank Carney. Aside from the brand recognition, Pizza Hut pioneered innovations including having a variety of formats from family-style dine-in to carry-out franchises. The company offers a few different types of franchise opportunities. However, the initial investment usually ranges from $297,000 to $563,000. The initial fee for a franchise is $25,000.

2. Domino’s

Domino’s puts a unique twist on its franchise for pizza with a focus on customer convenience. The company has been around for more than 50 years and has more than 17,000 franchises. This makes it the largest pizza company in the world. It has other offerings including chicken wings. Domino’s Pizza utilizes a simple tech platform to facilitate online ordering with a streamlined customer experience from all its locations. Most franchisees start by learning the ropes at a current Domino’s before purchasing their own store. The franchise fee is $10,000 and the initial investment ranges from $100,000 to about $600,000.

3. Papa John’s

Papa John’s remains one of the more popular nationwide brands and among the largest pizza franchise opportunities available. The name refers to founder John Schnatter. The company offers both traditional and non-traditional franchise opportunities, so even those with access to unique venues or locations can consider it as an option. Initial costs for an average-sized location range from about $250,000 to $300,000. The franchise fee for a U.S. store is $25,000.

4. Little Caesars

Little Caesars has been in business a long time. Entrepreneur Mike Ilitch founded the pizza chain with just one pizzeria in Metro Detroit in 1959. That modest shop grew into an internationally recognized brand in 24 countries, making it one of the largest franchises in this niche. The company prides itself on unique offerings, like its $5 Hot-N-Ready food and online ordering portals on the company website . The initial investment can range from $250,000 to $335,500. And the franchise fee is $20,000.

5. Marco’s Pizza

Marco’s Pizza currently has hundreds of franchises throughout the United States, with even more opportunities for growth in select markets. Both single and multi-unit franchises for a pizza restaurant are available. You’ll need to spend between $223,535 and $586,410 to get started with a traditional franchise location. The initial franchise fee is $25,000.

6. Sam & Louie’s

Sam & Louie’s specializes in New York-style franchise of pizza. Originally launched in Oklahoma, this franchise quickly spread across nearby states and is now expanding throughout the U.S. and Canada. The company offers flexible design options to adapt its franchises to various communities. The total initial investment ranges from $331,500 to $474,700. And the franchising fee is 25,000.

7. MOD Pizza

MOD Pizza offers fast, simple, and customizable pies. The company owns and operates most of its own stores. But it does collaborate with select franchise partners who are interested in developing multiple units. The franchise fee is $30,000. The initial investment ranges from $714,000 to $985,000.

8. RedBrick Pizza

Red Brick Pizza specializes in brick oven pizzas made with quality ingredients. The fast-casual restaurant chain provides several different franchises to suit your community and customer base. You can also choose between single and multi-unit franchises. The initial fee is $30,000 for a traditional cafe. Initial costs range from $316,400 to $548,200.

9. Hungry Howie’s

Hungry Howie’s currently has more than 550 franchises across the U.S. The company provides opportunities for both single and multi-unit franchises. The company offers training, a nationwide distribution network, mobile and online platforms, and marketing assistance. Costs to launch a Hungry Howie’s franchise falls between $200,000 and $375,000. The franchise fee for Hungry Howie’s is $25,000.

10. The Pizza Press

The Pizza Press is a restaurant chain that uses the concept “publish your own pizza.” Guests get to create their own custom pies and can finish their meal with ice cream treats. So franchises create a real experience for the customers in their area. The company is currently seeking out developers seeking multi-unit franchises and those who are willing to expand internationally. The fee for one franchise is $35,000 and $28,000 for any subsequent units. Total costs to get going range from $300,000 to $645,000.

11. Pizza Ranch

Pizza Ranch has a dine-in / carryout restaurant model for its franchises with a focus on creating a welcoming environment for guests. In addition to their pizza offerings, they also serve fried chicken among other items. These franchises are equipped with FunZone arcades. The company provides training, marketing assistance and ongoing support to franchisees. The total initial investment ranges from $1.3 to $3.4 million, with a $30,000 franchising fee. Single and multi-unit franchises are available.

12. CiCi’s

CiCi’s is a buffet chain with 430 franchises across more than 30 states. The company provides marketing support, training and distribution. Incentives are available to veterans to make the initial investment easier. The upfront investment ranges from $686,445 to $1,033,180. The franchising fee is $30,000 with incentives available to bring that cost down.

13. East of Chicago Pizza Company

East of Chicago Pizza Company is a Midwester pizza chain in business for more than 20 years. The company has a proven business model and a dedication to creating pizzas and other food items with quality ingredients. The initial fee is $20,000. Upfront costs range from $162,000 to $463,000.

14. Uno Pizzeria & Grill

Uno’s is one of the best pizza franchises in the Chicago style. It offers full service franchises. Each restaurant has a casual theme, but offers numerous profit opportunities including salads, other menu items, and bar options. The franchise fee is $40,000. Initial costs for these franchises range from $850,000 to $2.5 million.

15. Happy’s Pizza

Happy’s Pizza chain provides delivery, carry-out, dine-in and catering options for customers. The company provides its franchises with help in training, real estate acquisition, marketing and more. Happy’s currently has franchises in Michigan, Ohio, Nevada, and California, and is looking for even more expansion opportunities. The initial fee is $25,000, with discounts available for those opening multiple franchises. Total upfront costs range from $336,500 to $608,000. Additionally, the company charges a flat monthly fee instead of collecting royalties.

16. My Pie

My Pie is part of the growing custom market. But the company specializes in New York style. Franchise opportunities are currently available nationwide. You’ll need between $190,000 and $545,000 in build-out costs depending on the number and type of franchises. The initial franchising fee is $35,000.

17. Pieology

Pieology offers personalized pie’s right from its online platform. The company currently has 130 franchises in 22 states. And they offer exclusive territories for new franchises. The initial fee required is $25,000. Upfront costs range from $458,500 to $874,500.

18. LaRosa’s Family Pizzeria

LaRosa’s is known for its family recipe and inviting atmosphere. With more than 60 years in business, the company currently has franchises in Ohio, Indiana, and Kentucky. They offer delivery, dine-in, and even catering services, which provides diverse profit potential. The initial fee is $35,000. Startup costs range from $400,000 to $950,000, again depending on the number and type of franchises you plan to operate.

19. Papa Murphy’s

Papa Murphy’s has over 1,300 franchises in the United States, Canada, and the United Arab Emirates that serve take ‘n’ bake pizza. The company provides training and support to franchisees. And there are current and future markets open to expansion around the country. The initial fee is $25,000. And startup costs range from $286,919 to $524,205.

20. Russo’s New York Pizzeria

Russo’s New York Pizzeria brands itself as an “upscale casual” pizzeria. The restaurant uses fresh ingredients and family recipes brought to the forefront by Chef Anthony Russo. Franchises offer sit down, takeout, delivery, and catering service. There’s a $39,500 initial fee. Total costs to start in one of these franchises range from $450,000 to $750,000.

21. Ledo Pizza

Ledo Pizza is a Maryland based company that is currently offering franchises in select markets around the U.S. The pizzeria offers a varied menu and online ordering options to increase customer loyalty. The initial fee is $30,000. Costs to start range from $126,000 to $442,000.

22. Pizza Factory

Pizza Factory is known for its fresh ingredients and community involvement. The company boasts a strong family oriented culture, and offers discounts for veterans interested in operating franchises. The initial fee is $30,000. Costs to start range from $372,000 to $562,000.

23. Rosati’s Pizza

Rosati’s is another of the franchises specializing in authentic Chicago style offerings. The family owned company provides training and assistance with site selection and various other aspects of running your franchise. The initial fee is $35,000. And startup costs range from $136,200 to $1,241,000.

24. Mountain Mike’s

Mountain Mike’s has been in operation for more than four decades. Originally opened in Northern California, the company looks to sell franchises throughout Southern California, Utah, Nevada, and Oregon. The franchise is known for its quality ingredients and ties to the communities it serves. The franchise fee is $30,000. The upfront costs range from $208,020 to $593,520.

25. Vocelli Pizza

Vocelli Pizza specializes in artisan pizzas and other classic Italian dishes. The company has been around for more than 25 years and falls into the growing fast casual segment of franchises. Your initial costs can range from $156,000 to $330,900. The franchising fee is $30,000.

26. Kono Pizza

Kono offers a unique take. The Kono Cone changes the entire shape of traditional pies in an effort to make it easier to eat. The company offers food truck franchises with low overhead and mobile business opportunities. The initial investment ranges from $25,000 to $150,000 depending on which model you choose. There’s also a $25,000 fee for a single unit.

27. Fox’s Pizza Den

Fox’s Pizza Den is a family owned business that prides itself on being accessible to potential franchisees. The company’s $10,000 franchise fee and flat $300 per month royalty rate make it a fairly affordable option compared to other pizza franchises. Total upfront costs range from $93,550 to $115,550.

28. Jet’s

Jet’s is a Detroit style pizza restaurant that provides carryout and delivery. The company provides training, opening assistance and ongoing support to franchisees. Jet’s charges a $25,000 franchise fee. And total upfront costs range from $437,500 to $631,000. The company is also open to those who want to convert existing restaurants into franchises.

29. Round Table Pizza

Round Table Pizza offers both dine-in and carryout and delivery franchise models. The company is known for its authentic ingredients and flexible business models. The franchise fee for both options is $25,000. For dine-in locations, total upfront costs range from $471,500 to $1,061,250. For carryout/delivery locations, those costs range from $327,300 to $510,250.

30. Blaze Pizza

Blaze Pizza offers fast service and wood-fired pizzas with quality ingredients at all its locations. Restaurants also offer convenient features like online and mobile ordering and contactless pickup. The total initial costs range from $319,800 to $858,000. The franchise fee is $30,000 per restaurant, or $20,000 for certified training stores.

Some pizza chains were left off our list like Toppers Pizza which includes many company owned stores and Donatos Pizza founded by Jim Grote.

FAQs About Pizza Franchises

These frequently asked questions summarize key points about pizza franchise opportunities.

Is pizza a good business?

Pizza is a very good business. Consider these 3 advantages to owning a pizza business:

Consumer demand. 13% of Americans over age 2 eat pizza on any given day.2 It’s popular all over. It is most popular in the Northeast and Midwest, according to PMQ Magazine. 3 We eat 3 billion pies per year. 4

Profitability. Ingredient costs are relatively low compared to the price charged, ensuring profitability.

Growing industry. The pizza industry is $47 billion a year, and franchises constitute $36.4 billion of that, according to research firm IBISWorld. 1 It is forecast to continue growing over the next five years.

Pizza has become a food staple — whether deep dish, thin crust, unusual toppings or more. Among food franchises it is one of the most popular categories. You get the benefits of the franchise system and branding, together with sound business fundamentals and help choosing locations.

How much do pizza shop owners make?

The amount you make with franchise pizza depends on the type of pizza business you operate. For example, the average Dominoes owner might expect to make between $107,000 to $116,000 per year, according to Glassdoor.5

However, a Papa John’s franchise owner might make about $142,000 before taxes, says Franchise.com.6

First, of course, you need to subtract out costs related to food, labor, marketing, supplies, royalty fees and real estate associated with these franchises.

Is a pizza franchise profitable?

Yes, a pizza franchise can be profitable. For example, the top 75 percent of Marco’s Pizza restaurants made between $543,093 and $1,736,679 in net royalty sales in 2019. The average store spent about 31 percent on food and supplies and 25 percent on labor. The exact amount each store makes depends on the size, market, and expenses.

How much does it cost to open a pizza franchise?

Opening a pizza franchise can cost anywhere from $25,000 to over $1 million, depending on locations of your franchise business and other factors. Most fall somewhere between $200,000 and $600,000. Those that just offer a mobile component or pickup and delivery service tend to be cheaper. Large, dine-in restaurant locations with extensive menus fall on the more expensive end of the spectrum.

Sources:

1 IBIS World Research

2 USDA Consumption Report

3 PMQ Magazine

4 The Pizza Joint

5 Glassdoor

6 Franchise.com

This article, “Top Pizza Franchises for 2020” was first published on Small Business Trends

https://smallbiztrends.com/

The post Top Pizza Franchises for 2020 appeared first on Unix Commerce.

from WordPress https://ift.tt/3igcb8h via IFTTT

#IFTTT #WordPress

0 notes

blogwiseguy123world · 4 years

Text

Global Public Transport Market- Industry Analysis, Size, Share, Growth, Trends and Forecast - 2023

Summary – A new market study, titled " Global Public Transport Market- Industry Analysis, Size, Share, Growth, Trends and Forecast - 2023 " has been featured on WiseGuyReports.

Also read – http://www.digitaljournal.com/pr/3961378

Scope of the Report:

The global Public Transport market is valued at xx million USD in 2017 and is expected to reach xx million USD by the end of 2023, growing at a CAGR of 18.0% between 2017 and 2023.

The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.

North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Public Transport.

Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.

Market Segment by Companies, this report covers

Metropolitan Transportation Authority

Transport For London

MTR Corporation

Guangzhou Metro

Madrid Metro

Washington Metropolitan Transit Authority

Seoul Subway

The Massachusetts Bay Transit Authority

Chicago Transit Authority

Bay Area Rapid Transit

Market Segment by Regions, regional analysis covers

North America (United States, Canada and Mexico)

Europe (Germany, France, UK, Russia and Italy)

Asia-Pacific (China, Japan, Korea, India and Southeast Asia)

South America (Brazil, Argentina, Colombia)

Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Market Segment by Type, covers

Bus

Tram

Underground (Metro)

Regional taxi

Light rail

Train

High-speed line South

Market Segment by Applications, can be divided into

City

Rural

For more details - https://www.wiseguyreports.com/reports/3431255-global-public-transport-market-2018-by-manufacturers-countries

About Us:

NORAH TRENT

[email protected]

Ph: +162-825-80070 (US)

Ph: +44 2035002763 (UK)

0 notes

listedsimply · 3 months

Text

#home sellers #real estate #mls listing #flat fee real estate agent chicago il #real estate agent #flat fee mls #flat fee mls listing #flat fee

0 notes

businessreviewguidenow · 4 years

Text

Top Pizza Franchises for 2020

Get your slice of the thriving pizza market with our best pizza franchise list topped with the finest advice in the business.

Pizza Hut and Domino’s may be the largest restaurant franchises, but you are not limited to them. Here are 30 of the best pizza franchises.

1. Pizza Hut

2. Domino’s

3. Papa John’s

4. Little Caesars

5. Marco’s Pizza

6. Sam & Louie’s

7. MOD Pizza

8. RedBrick Pizza

9. Hungry Howie’s

10. The Pizza Press

11. Pizza Ranch

12. CiCi’s

13. East of Chicago Pizza Company

14. Uno Pizzeria & Grill

15. Happy’s Pizza

16. My Pie

17. Pieology

18. LaRosa’s Family Pizzeria

19. Papa Murphy’s

20. Russo’s New York Pizzeria

21. Ledo Pizza

22. Pizza Factory

23. Rosati’s Pizza

24. Mountain Mike’s

25. Vocelli Pizza

26. Kono Pizza

27. Fox’s Pizza Den

28. Jet’s

29. Round Table Pizza

30. Blaze Pizza

Some pizza chains were left off our list like Toppers Pizza which includes many company owned stores and Donatos Pizza founded by Jim Grote.

FAQs About Pizza Franchises

These frequently asked questions summarize key points about pizza franchise opportunities.

Is pizza a good business?

Pizza is a very good business. Consider these 3 advantages to owning a pizza business:

Profitability. Ingredient costs are relatively low compared to the price charged, ensuring profitability.

How much do pizza shop owners make?

However, a Papa John’s franchise owner might make about $142,000 before taxes, says Franchise.com.6

First, of course, you need to subtract out costs related to food, labor, marketing, supplies, royalty fees and real estate associated with these franchises.

Is a pizza franchise profitable?

How much does it cost to open a pizza franchise?

Sources:

1 IBIS World Research

2 USDA Consumption Report

3 PMQ Magazine

4 The Pizza Joint

5 Glassdoor

6 Franchise.com

This article, “Top Pizza Franchises for 2020” was first published on Small Business Trends

source https://smallbiztrends.com/2020/08/pizza-franchise.html

from WordPress https://businessreviewguidenow.wordpress.com/2020/08/06/top-pizza-franchises-for-2020/ via IFTTT

#shoplocal #businessreview

0 notes

neptunecreek · 5 years

Text

The Foilies 2020

Recognizing the year’s worst in government transparency

“The Ringer,” the first track on Eminem’s 2018 album, Kamikaze, includes a line that piqued Buzzfeed reporter Jason Leopold’s curiosity: the rapper claimed the Secret Service visited him due to some controversial lyrics about Ivanka Trump. To find out if it was true, Leopold filed a request under the Freedom of Information Act (FOIA), the federal law that allows anyone to demand access to government records.

After a year of delays, the Secret Service provided Leopold 40 pages about the interview with the real Slim Shady, including a note that he was “exhibiting inappropriate behavior.”

This wasn’t the first time government transparency has intersected with hip-hop. Type “Freedom of Information” into Genius.com (the site formerly known as Rap Genius) and you’ll turn up tracks by Sage Francis and Scroobius Pip using FOIA as lyrical inspiration. The hip-hop duo Emanon sampled Joanna Newsom for “Shine Your Light,” in which they declare that due to redactions of FOIA documents, we’re “never gonna see the true history of this nation.” Even George Clinton, whom many rappers cite as inspiration, chanted about “getting funky” with the freedom of information on the track “Maximumisness.”

There’s nothing quite like an envelope of freshly photocopied documents to make a journalist or open-government advocate break into song. But there’s also nothing that brings the melody to a record-scratching halt than the government withholding information without due cause.

The Electronic Frontier Foundation is an international nonprofit based in San Francisco that fights to uphold civil liberties in the digital age —work that includes filing hundreds of public records requests each year with a variety of government agencies. In collaboration with the Association of Alternative Newsmedia, we also compile “The Foilies,” a list of anti-awards that name-and-shame government officials and corporations that stymie the public’s right to know.

Now in its sixth year, The Foilies are part of the annual Sunshine Week festivities, when news and advocacy organizations celebrate and bring attention to state and federal open-records laws that allow us to hold the powerful to account.

And the winners are….

The Twitter-Assist Award: President Donald Trump

The Space Opera Award: New Mexico Spaceport Authority

The Catalog Is Out of the Bag Award: Special Services Group

The Smokescreen Award: Texas Elementary Schools

The Uncontrolled Burn Award: Federal Aviation Administration

The Queen of all FOIA Denials: Egyptian Museum of Berlin

The Busiest Government Office Award: U.S. Department of Justice

The Pointless Redaction Award: Mueller Report

The Repeat Winner Award: Atlanta Mayor’s Office

The Unnecessary Fee Award: Horry County, South Carolina

The Surveillance for You, Privacy for Us Award: Ring Inc.

The About Face on Face Recognition Award: Immigration and Customs Enforcement

The Hardest Department to FOIA Award: Chicago Police Department

The Choose-Your-Own Exemption Award: Immigration and Customs Enforcement

The Anything Can Be Confidential Award: U.S. Supreme Court

The Resigned to Secrecy Award: Oregon Gov. Kate Brown

The Enemy of the Press Award: California Attorney General Xavier Becerra

The Stupid, Dumb, F**king Idiot Award for Political Interference: U.S. Department of the Interior

The Twitter-Assist Award: President Donald Trump

It’s not often that prying documents out of the CIA comes with a little bit of help from the commander in chief. But Buzzfeed reporter Jason Leopold (yeah, he turns up a lot in The Foilies) stumbled into just that kind of luck when Trump tweeted an acknowledgement that he had ended “massive, dangerous, and wasteful payments to Syrian rebels fighting Assad.”

Leopold requested information on the payments from the CIA. Despite the president’s confirmation that these payments existed, the CIA still refused to confirm or deny the records existed, a move known in the legal world as a “Glomar response.” Leopold went to court and a judge found that because Trump had acknowledged the payments publicly, the CIA had to stop playing secrecy games and hand over the documents.

The Space Opera Award: New Mexico Spaceport Authority

In space, no one can hear you scream about thwarted public records requests, but down on Earth, you can take the government to court and make them listen.

That’s what Heath Haussamen, editor and publisher of NMPolitics.net, did after the New Mexico Spaceport Authority in 2017 refused to hand over basic public records related to the private companies that lease real estate at Spaceport America, the much-publicized commercial launchpad just outside Truth or Consequences, N.M.

With a New Mexico Attorney General’s Office opinion in hand that determined the Spaceport Authority had violated the state’s open records law, Haussamen filed a lawsuit. After following the wormhole of the justice system, Haussamen finally received the records in 2019, along with a $60,000 settlement for his trouble—but not before the New Mexico Legislature stepped in and passed a new law granting the Spaceport even more secrecy over its operations.

The Catalog Is Out of the Bag Award: Special Services Group

In response to a California Public Records Act request for information about surveillance technology, the Irvine Police Department in California provided researchers at MuckRock and Open the Government with a catalog called the “Black Book” from a secretive company called Special Services Group. The catalog advertised a range of spy devices that would make Q drool, including cameras that can be concealed in gravestones, vacuum cleaners and baby car seats.

But, as Vice’s Motherboard prepared to publish a story on the documents, Special Services Group stepped out of the shadows to issue sweeping legal threats, arguing that by publishing the documents, researchers were violating everything from federal copyright law to arms control regulations. Vice, MuckRock and Open the Government rightfully resisted the censorship threat, since that’s not how it works. Special Services should have taken its beef to the city's law firm, which reviewed and then released the documents.

The Smokescreen Award: Texas Elementary Schools

Across the country, parents, educators and lawmakers are fuming about nicotine “vaping” among underage students. Considering that this is branded as a public health crisis, one would assume schools would be forthcoming with data about vaping incidents on campuses to help inform policymakers.

That’s not what Sarah Rafique, a reporter with ABC 13 Investigates in Houston, found when she filed records requests with more than 1,000 schools across Texas. About 10% of agencies missed the 10-day deadline to respond. One school demanded an (illegal) flat fee of $150 for all requests, while another agency demanded to know the reason for the request before they’d hand over the documents. “It was weird, too, that some districts said they didn't have any data/information but when I explained I was reaching out to 1,000 districts (and they wouldn't be singled out, per se) all of a sudden they had numbers to share,” Rafique said in a Twitter thread outlining the most troubling responses to her requests.

The Uncontrolled Burn Award: Federal Aviation Administration

Courtesy of Mike Katz-Lacabe

Someone at the Federal Aviation Administration has an unhealthy relationship with their CD burner.

Last year, Mike Katz-Lacabe of the Center for Human Rights and Privacy filed a FOIA request with the FAA to get records about helicopters and airplanes operated by 19 different police agencies in California. The FAA turned up 120 MB of files. They could have put them on a single CD-ROM, which can hold about 700 MB of information. Instead, the FOIA officer burned the records to 19 separate discs and sent them to Katz-Lacabe in the mail.

The Queen of all FOIA Denials: Egyptian Museum of Berlin

For three years, Cosmo Wenman battled with the German-government-funded Egyptian Museum and Papyrus Collection (aka, the Egyption Museum of Berlin) over a freedom of information campaign to release the 3D scan of a bust of Queen Nefertiti. The museum denied the request for the high-quality scan of the over 3,000-year-old statue, arguing that it would threaten its commercial interests—namely by creating competition in the sale of images or reproductions.

“The organization was treating its scan of Nefertiti like a state secret,” Wenman wrote in Reason.

After a prolonged battle, and temporary access to a very slow computer containing the scan, Wenman was finally given a USB drive with the full 3D image. No word on whether museum visits have declined precipitously.

The Busiest Government Office Award: U.S. Department of Justice

In response to yet another FOIA request from Buzzfeed reporter Jason Leopold, this time for documents relating to the Mueller investigation, the Justice Department claimed it has as many as 19-billion responsive documents. This would mean the investigation had generated or collected more than 28-million documents each day, weekends included.

Although Mueller’s investigation lasted 22 months, the DOJ told Leopold it would take 2,300 years for it to review and produce the requested records for public disclosure. Leopold tweeted that he is exploring cryogenics as a way to review the records in the 4320s.

The Pointless Redaction Award: Mueller Report

Courtesy of the National Security Archive

Among the many blacked-out sections of the Mueller Report, a few redactions particularly stood out. The National Security Archive reported that the Justice Department redacted sections of public news stories that the Mueller Report quotes or cites. For example, the report cites a CNN headline as: “[Redacted] Says He Won’t Agree to Plea Deal”—but the CNN story is freely available online, and a quick Google search shows that the redacted words are “Roger Stone Associate.”

The Repeat Winner Award: Atlanta Mayor’s Office

Back in 2018, then-Atlanta Mayor Kasim Reed earned a Foilie when he responded to a corruption probe by releasing 1.476 million documents, which he displayed in a six-foot wall of boxes at a press conference, even though it turned out that many of the documents were entirely blank or fully redacted.

Mayor Reed is no longer in office, but his legacy lives on in Atlanta, where his former press secretary, Jenna Garland, was convicted this year for violating Georgia’s Open Records Act. The New York Times reported that she sought to frustrate journalists’ requests for records by directing city spokespeople to be “as unhelpful as possible,” “drag this out as long as possible” and “provide information in the most confusing format available.”

This is the first time that a public official has been charged or convicted under Georgia’s open records laws—and if recent history is a guide, it may not be the last.

The Unnecessary Fee Award: Horry County, South Carolina

Horry County, South Carolina, is the home of Myrtle Beach and its many dedicated beach-goers—and home to this year’s most unnecessary FOIA fee. The Myrtle Beach Sun News sent out requests to a number of local towns and public entities inquiring about payments made on behalf of public agencies to settle lawsuits in the last five years. Many of the towns in Horry County emailed the responsive documents back for free; some charged less than $50, but the county itself asked for $75,500.

When asked why the records cost so much, the county was unable to provide an exact accounting. Although its $75,500 demand is not the most outrageous total to grace the Foilies, Horry County’s response is award-worthy in light of how disproportionate it was compared to other agencies.

The Surveillance for You, Privacy for Us Award: Ring Inc.

EFF has written a lot about Amazon Ring surveillance doorbells, mostly aided by a torrent of great investigative reporting done by journalists using public records requests. The doorbells may be capturing the movements and conversations of neighbors and pedestrians in neighborhoods all across the United States, but Ring employees really value their privacy.

One researcher, Shreyas Gandlur, turned up an email from Ring to the Joliet City Police Department, asking them to redact the names and email addresses of any Ring employees that may show up in emails released through FOIA. “Ring employees have strong personal privacy interests,” wrote one Ring employee (whose name was redacted).

The About Face on Face Recognition Award: Immigration and Customs Enforcement

How hard is it to unmask records on face recognition? The Project on Government Oversight (POGO) discovered the many faces of Immigration and Customs Enforcement (ICE) when it filed a request for information on the agency’s acquisition and use of face recognition technology.

ICE initially said it had only three redacted records—while failing to search one of its largest directorates, Enforcement and Removal Operations (ERO). After POGO successfully appealed, ICE responded that a query of ERO had been conducted and was being reviewed. Two months later, ICE said the request had been closed. After POGO reached out to the agency, ICE then contradicted itself, stating that the appeal was assigned and ERO would be queried. A follow-up request seeking updated information was met with silence. Accordingly, POGO has decided to face off with ICE in a different venue—the courtroom—after filing a lawsuit for the records.

The Hardest Department to FOIA Award: Chicago Police Department

In 2019, the Chicago Police Department was in the news multiple times for its inability to respond to even the most straightforward public records requests.

After members of CPD raided the wrong home and traumatized a family, the family sought to get the body camera footage of the raid. The family believed that, in addition to showing the mistaken raid, it would also show police misconduct. Unfortunately, the CPD refused to turn over the footage.

In July, the CPD was forced to turn over documents after 14 months of stalling over a FOIA request for files on officers. After a legal opinion from the Illinois Attorney General, the CPD turned over a spreadsheet with more than 33,000 names dating back to the 1940s.

Does the Chicago Police Department use search warrants? Of course it does, but you wouldn’t know it by its FOIA responses. Also in July, the CPD told Lucy Parsons Labs that it did not have any responsive documents for a request for all executed search warrants. After several months of fighting, the department finally released records about 11,000 search warrants issued over a five-year period.

The Choose-Your-Own Exemption Award: Immigration and Customs Enforcement

What’s an agency to do when it can’t identify a FOIA exemption to justify withholding records? In ICE’s case, it created its own.

As is common practice in immigration court, where there is no discovery process, attorney Jennifer Smith sought the immigration file of a client by filing a FOIA request with U.S. Citizenship and Immigration Services (USCIS). USCIS told Smith that it had identified 18 records, but instead of producing those records, it mysteriously instructed Smith to request them from ICE.

Two years later, ICE finally responded that it was withholding the records to “deny fugitive alien FOIA requesters access to the FOIA process when the records could assist the alien in continuing to evade immigration enforcement efforts.” While admittedly creative, there is no “fugitive disentitlement” exemption under FOIA. Moreover, this fake exemption countered exactly what immigration attorneys are trying to do: ensure that their clients won’t be considered fugitives.

The ACLU of Colorado sued on Smith’s behalf, and in 2019, won the case.

The Anything Can Be Confidential Award: U.S. Supreme Court

With the rise of outsourcing, no-bid contracts and elected officials seeking to reduce government spending, private businesses and government have never been more intertwined. Whether it be facial recognition technology or algorithms used to determine whether people receive public-assistance benefits, private companies and the technology they build are embedded in government’s daily work.

Yet in June, the U.S. Supreme Court made it much harder for the public to access records that involve private companies. In the case Food Marketing Institute v. Argus Leader, the court interpreted a FOIA exemption broadly to allow the government to withhold records that a company considers confidential. Prior to the Supreme Court’s decision, private information could not be withheld from a FOIA requester unless the government or the business could show that making the information public would harm the business. But under the court’s June decision, the government can withhold any information a business deems private.

Confidential business information under FOIA is thus in the eye of the beholder, a result that will frustrate the public’s ability to understand how the government uses private companies’ products and technologies as part of its duties.

The Resigned to Secrecy Award: Oregon Gov. Kate Brown

Oregon Gov. Kate Brown came into office with a stated goal of restoring trust after public records showed that her predecessor had ordered officials to delete thousands of his emails from state servers. One concrete step Brown took to improve transparency: creating a state public records advocate to push for more openness.

The abrupt resignation of Oregon’s newly minted public records advocate, Ginger McCall, in September significantly undercut Brown’s stated commitment to transparency. In her resignation letter to Brown, McCall said that she received “meaningful pressure” from Brown’s office to advocate for the governor’s interest, rather than the public’s interest in having a transparent state government. Brown’s office at first denied McCall’s characterization and later chalked it up to a difference in views on McCall’s position.

McCall released notes of her meetings with Brown’s staffers that reflected an effort to make McCall’s position report directly to the governor’s staff, rather than being an independent advocate for the public. If there is any doubt, we believe McCall. She has long been a conscientious and honest advocate for the public’s right to know.

The Enemy of the Press Award: California Attorney General Xavier Becerra

Obtaining data about police misconduct under California’s public records law can be a crime, according to California Attorney General Xavier Becerra. That was the upshot of legal threats Becerra’s office made to two investigative reporters in March after they received data on police officer arrests and convictions in the past 10 years in response to a public records request filed with the Commission on Peace Officers Standards and Training.

According to a letter from Becerra’s office, the spreadsheet, which detailed officers’ criminal histories, was off-limits to the public and its mere possession by the reporters was a misdemeanor. The reporters didn’t back down and instead “formed an unprecedented collaboration to investigate the list, involving three dozen news outlets across the state.”

Becerra’s legal threats backfired spectacularly, leading to statewide comprehensive reporting about criminal investigations into police officers, including a searchable database. But Becerra should never have threatened the journalists in the first place, an authoritarian move that conflicts with his efforts these past years to position himself as the counterweight to President Donald Trump.

The Stupid, Dumb, F**king Idiot Award for Political Interference: U.S. Department of the Interior

In 2019, reporters at Roll Call broke the news that the Interior Department had been allowing political officials to intervene in the processing of FOIA requests, either by stalling or potentially blocking the agency from fulfilling the request.

The reporting on this so-called “awareness review process” was based on FOIA documents obtained by Aaron Weiss of the Center for Western Priorities, an environmental organization based in Colorado. Among the scores of examples Weiss obtained was a stalled FOIA request from Buzzfeed’s Jason Leopold for all emails in which Interior press secretary Heather Swift used the terms “fucking," "idiot," "stupid" and "dumb.” (Swift had already been caught calling CNN’s René Marsh a “fucking idiot” in an email.)

“If political appointees get to decide what the public gets to see, it completely undermines the letter and spirit of FOIA,” Weiss says.

Want to read more FOIA horror stories? Check out The Foilies archives.

from Deeplinks https://ift.tt/2WlYOfn

#Deeplinks

0 notes

maxwellyjordan · 5 years

Text

Strategic Planning for Law-Firm Success and Growth

“Practice Management: Plan to Grow,” by Ed Finkel, was originally published in the March 2015 edition of the Illinois Bar Journal.

“The world is complicated. It doesn’t stay the same forever.”

While nothing is guaranteed in life or law, attorneys and firm management consultants say law firm strategic planning—that is, taking a step back and looking at the big picture—is essential to know where you’ve been, where you’re going, and how you will keep growing whether you’re a solo practitioner or at a large firm. Your law firm strategic planning process is the best way to achieve success in the long run, even if it seems like you’ve been doing just fine dealing with the day-to-day.

Managing Change

“The world is complicated. It doesn’t stay the same forever,” says Craig Caldwell, department chair in marketing and management at Butler University and a speaker on law firm strategic planning at the Solo & Small Firm Institute program in Peoria. “Firms can get blindsided by getting too down into the weeds of their business. It’s necessary at times, for the livelihood and success of the firm, to pop your head up, see what’s going on in the marketplace, and see whether your firm needs to make some changes.”

Lack of strategic planning might not negatively impact a law firm as quickly as another type of business—say, a technology firm—because of the highly regulated legal environment, which provides a buffer of sorts from economic and other changes, Caldwell says. “But if there are aspirations for growth or skill sets within the law firm that simply aren’t as in demand as they used to be, you’re going to find yourself in a scenario where strategic planning is going to be critical,” he says.

Related “Offer Unbundled Legal Services to Compete in Today’s Legal Market”

One current scenario that’s affecting consumer-oriented firms, in particular, is the trend toward websites that help people handle some of their own legal matters, Caldwell says. “They have a choice to make—do we find other ways to get those dollars that we’ve lost to law.com, or do we join that site?” he says. “If we decide the Internet’s the thing, let’s chase that business.”

The most common law firm strategic planning issue facing firms in recent years has been how to respond to the economic shift in the legal market since the Great Recession, with fewer clients and a tighter bottom line, says John Olmstead, principal at St. Louis-based consultancy Olmstead & Associates.

“The process doesn’t change. The need for law firm strategic planning doesn’t change,” John says. “Sometimes what changes is the fundamentals and what’s going on, and what firms need to develop strategies to deal with. In recent years, most of the challenges firms are having are the same, everything from pressure on the economics, to resistance from clients to fee increases.”

Don’t React. Have a Plan.

It’s easy for firms to lose sight of the big picture as they’re working through day-to-day matters, says Terrence Truax, managing partner at Jenner & Block in Chicago.

“Every day is filled with new opportunities and new curveballs.”

“You have your nose to the stone, you’re working flat out as hard as you can, and it’s difficult to step back and ask those important questions: What is my priority? Where do I want to be in 24, 36 months?” he says.

“That doesn’t mean you don’t react to the moment,” Truax adds. “Every day is filled with new opportunities and new curveballs.”

For smaller firms and solos, there’s always a temptation to do nothing but react to the moment, says Bill Wilson, principal at The Law Offices of Wilson & Wilson and The Center for Estate Planning and Elder Law, based in west suburban LaGrange.

“But then you’re just going to work each day and letting your environment dictate to you how you’re going to manage and work your law firm,” Wilson says. A strategic plan provides “a guidebook where you’re intentionally doing things to get you to a certain point, instead of having clients or other external forces dictate to you where you’re going,” he says.

Firm Size Matters for Law Firm Strategic Planning

Olmstead figures that probably three-quarters of large firms have strategic plans, while mid-sized firms in the 50-attorney range are closer to 50-50, with the likelihood shrinking to 15 percent or less of firms with 10 attorneys and fewer. “Different approaches to strategic planning [for different-sized firms] would be appropriate,” he says. “The challenges and issues are different.”

Big Firms Hire Big Help

In larger firms, top partners typically sit down, figure out where their practice has been growing and where it’s become stagnant, and decide whether and how to recast lines of business that fall into the latter category, Caldwell says. His talks aren’t tailored to large firms because “they have a lot of their own educational systems—they hire some hotshots and bring them in and pay them a lot of money to walk them through the strategy,” he says.

Jenner has its practice broadly divided between litigation and business transactions groups, with several disciplines in each, and at the beginning of each year, each group develops its own strategic plan. Those are then “vetted and cross-examined, and people are being encouraged and challenged in a positive way,” Truax says.

“We ask all the basic questions any business enterprise would be asking. What do we look like today? What are our strengths, weaknesses, opportunities, and threats? Where do we want to be in 12 months, and in five years?”

The plans are revisited throughout the year iteratively, Truax says, which “requires focus and discipline, making sure everybody stays on message. They’re refined throughout the year; we ask people to pull together their plans and test them.”

Breaking Out of Crisis Mode at Small Firms

“It’s hard to think long term when you can’t think through the current day.”

In smaller firms, there are fewer people involved and fewer decisions to make but also less time, Caldwell says. “People don’t engage with the same discipline because they’re doing work,” he says. “They’re fighting fires, meeting deadlines, getting things filed in court.” Plus, he adds, “They don’t have the resources to hire an expert to do it for them.”

Small firm attorneys need to pick out a time and day, on a regular interval, to pop their heads out and look around, Caldwell says. “It requires the discipline to say, Friday afternoon, from noon to 5, we’re going to sit down, and not be billable, and work through some stuff about what we’re going to be when we grow up,” he says. “Three to five years from now, what are we going to be doing?”

Wilson finds it very important to “disconnect” when he creates his strategic plans, “meaning I get off premises,” he says. “I need to do that where the phone isn’t ringing, or I’m tempted to look at my e-mails.

“I go off-site and hibernate. Then I come back and talk to the people I need to talk to, my bookkeeper, marketing person, other attorneys, to figure out how are we going to get there, and what do we need to do? I start soliciting some advice. I have my own ideas, but they’re more down in the trenches and know a lot of things I don’t know, or forgot, or need to keep in mind.”

Firms should not confuse strategic planning with crisis management, Olmstead says. The latter is more urgent. “In some of the smaller firms, especially, I’ve run across somewhere I’ve advised them, ‘You guys have so many tactical issues going on in the swamp; you’re trying to survive day to day. Until you do some things as far as operations in the short term, maybe you shouldn’t think about strategic planning,'” he says. “It’s hard to think long term when you can’t think through the current day.”

For example, Olmstead has worked with firms who have legal accounting software but need to hire a consultant to pull reports for them. “If they’re not using technology right, and they can’t even pull any basic reports to know how they’re performing financially, they can’t pull together reports as far as what they’re paying their people, if they don’t have a website or some of those basic things – and you’d be surprised how many don’t. If they’ve got 14 or 15 attorneys and don’t have an office manager in place,” they should take care of that first, he says.

The Challenge Intensifies For Solos

Related “Going Solo: Debunking the Top Ten Fears”

Sole practitioners face particular challenges, Olmstead says, because figuring out what they are trying to do and where they want to take their practice – and what steps they need to take to get there – ideally should not be a solo activity. “It’s hard to do a long-range strategic plan by yourself,” he says. “It’s not something you do in one sitting, and you need somebody looking over your shoulder, whether that somebody might be your spouse or your staff person.”

Olmstead worked with a solo practitioner in Iowa who did not realize he was only paying his associate of 10 years a $60,000 salary – or that he himself had only cleared $20,000 the previous year. “He sent me his numbers, and I’m looking at the financials, and they’re terrible,” he says. “When I say I ought to be seeing $300,000 in fee revenue per year, that’s an achievable number, and I’ve got some who are barely doing $100,000. I told one guy, ‘I hate to say this, but your effective rate is $45 per hour.’ It involves internal analysis and benchmarking.”

Implementing and Measuring Strategic Planning Results

Because attorneys tend to enjoy discussion and debate, the process of putting together a law firm strategic plan can seem natural and appealing, Olmstead says. “The bigger challenge is getting them to implement anything. [The plans] go into books, they go on shelves, and very little happens as a result,” he says.

A plan that isn’t implemented is only a list of suggestions. Here’s how to increase the odds that strategic planning will lead to real progress.

Don’t Bite Off too Much

It’s important to keep things manageable, Caldwell says. He cautions smaller firms not to take on more than one or two significant strategic initiatives at one time. “To take on more is simply not tenable because there are not enough horses,” he says.

That goes for the law firm strategic planning document, too, Olmstead adds. “Most of the [plans] I’ve done for 15 and 25 attorney firms and under, particularly even smaller ones, will typically be 10 pages or less,” he says. “To me, if you can keep them briefer and to the point, as opposed to carrying on and making these things too elaborate, they’ve got a much better chance of implementation.”

Define Goals Clearly

Related “The Importance of Long-Term Goals for Your Practice”

“If you’re going to get into family law going forward, you have to have some ideas about what success is going to look like before you launch it,” Caldwell says. “If you’re wanting to grow your corporate law practice, maybe it’s the snagging of three to five major accounts, something that will let you know you’re getting a little bit closer to what the plan had set out for you.”

Make Results Accountable

Be sure to assign responsibility for specific planks of the law firm strategic plan, Caldwell says. “To the extent you can reduce implementation down to metrics that let you know how much progress you’re making, that’s critical,” he says. “And then also, it’s important to get back to people in the organization with feedback about how things are going.”

Olmstead agrees. “I want to know: When are we going to do it, and whose name am I putting in the box, and when is this task going to start,” he says. “It needs to get down to the nitty-gritty, hold people accountable for some of the action items you’re going to get done. Otherwise, it’s just one of those non-billable activities.”

Move Quickly

While a larger firm might take six months from the kickoff meeting to the presentation at the end, smaller businesses can get the law firm strategic plan finished in a month—and that’s probably wise given that they don’t have the professional administrators and other support staff in place to help out, Olmstead says.

“They may only have one shot at doing it,” he says. “They’re not going to have the patience for a time commitment over a period of months. It might have to happen in a retreat setting. You do the pre-work, financial review and analysis, beforehand. And then we lock ourselves up for a day or two in a retreat-type setting and basically work through the whole process.”

Measure Results

To measure law firm strategic planning success financially and otherwise, Jenner uses a range of metrics and compares performance throughout the year against the strategic plan, monthly, biannually, and annually, Truax says. “That will guide us as to whether we’re moving forward with respect to that strategic objective,” he says. “There may be all kinds of reasons why your performance deviates from the plan, but we measure that on an ongoing basis.”

Related “Strategic Planning for Small Law Firms”

What sort of metrics? Wilson’s strategic plans go out five years and attempt to project for each year the gross revenue, net income before taxes, the number of people he will employ, and numbers of matters he expects to handle. He measures his marketing success in terms of numbers of articles published, newsletters contributed to, seminars delivered, and new contacts and referral sources. “From that, we would also try to back in the number of new clients we would get each year,” he says. “These obviously are all projected goals.”

Wilson considers his plans living documents that he revisits continuously to see how well the law firm’s strategic planning efforts are matching the vision laid out. “If my plan is to increase estate administration and asset planning, and I see we’re putting too much time into real estate, I’m not adhering to my plan,” he says. “The reason it’s important is that it’s a guide for a firm to keep on topic and on goals, so we can always look back and bring it up at a monthly meeting.”

The post Strategic Planning for Law-Firm Success and Growth appeared first on Lawyerist.com.

from Law https://lawyerist.com/strategically-planning-law-firm-success-growth/ via http://www.rssmix.com/

#law #justice

0 notes