|Small Business Guide - Small Business Resources
(Add to Favorites | View All Articles | Resource Directory)
Tips on Setting Up Your Small Business Bank Account
One of the first things you will need to set up is a bank account. We recommend a large bank because:
They have locations everywhere
They have longer hours
They will probably buy out your local community bank anyway
If you are an owner/operator of a small business, you will appreciate having a Debit or ATM card for your business. They also have easy to read statements for merchant accounts, little or low fee checking accounts, locations in the grocery store, weekend banking, business credit cards (VISA or MC), small business loans, auto loans and leases, etc. If you run a lot of locations and are expanding your business you might even ask the local manager to fax you weekly confirmation of daily deposits made during the week.
When opening an account always ask about checking account fees, primarily deposits per check charges. Try to have these reduced or eliminated. If you wish to shop banks and fees, don't forget to shop service. We recommend these ten tips when selecting a bank.
Make an honest list of the services you want and those services you really need and then interview banks to see which services they provide on your 'shopping list'. Be careful at big banks. Ask for the branch manager and not the new accounts sales girl. Chances are she's just out of college and doesn't even understand real world banking relations or hand-shaking deals at the Rotary Club or golf course. She'll be too 'By-The-Book' to answer any real questions.
Start seeking referrals from long standing community and business leaders. Perhaps a local CPA, home based business consultant or small business owner. Make sure you get advice from people you respect.
Geography is important, but it should not in all cases be the deciding factor. You should start with nearby banks.
Visit the bank. Are there long teller lines? Is the staff courteous? Do they smile, etc.?
Sit down with a bank officer and don't be afraid to ask the tough questions: Do you really want our small company's business? Are you interested in long-term relationships? Will I be able to work with a certain specific person on a continuing basis? Will you treat me like a number? What is your turn around time on loan applications? How many layers of management are there until I get to the president? What's his or her name? Have you ever met them? May I?
Make clear exactly what you want and need from a banking relationship. Will you be looking for a loan soon? Like any other relationship, communication is the key to a good banking relationship.
Don't fall for flashy ads that promise you stuff and they forget your name next week. You might even come back the next day and ask "Do you remember my name? If they don't, smile and walk out.
Try not to be misled by free toasters or mouse pads if you open an account. These free items won't help your car wash business thrive, but a good banking relationship can.
Remember, that a bank's service is gauged by the service it provides, not it's brochures, gimmicks, signage or billboard ads.
Evaluate the relationship when you have been with a new bank for six months. Honestly evaluate how things are going and share your conclusions with your banker. The best banking relationship is one where both parties are open and forthright and where issues can be discussed that will lead to a long-term mutually beneficial partnership for the expansion and betterment of your car wash franchise.
Check Ordering For Business Account
Why does ordering checks and replacement checks cost so much?
Because banks make a profit on the checks you order. For a little less than one-half the cost you can order your own checks and eliminate the middleman - that's the bank. Call:
Current Check 1-800-426-0822;
Checks In The Mail 1-800-733-4443;
Deluxe Checks 1-800-4DELUXE
All three firms guarantee that their checks meet industry standards. We've ordered from all three. Deluxe is faster if you're out of checks, but still have money left. They do cost an average of $4.00 more per box.
Interest Bearing Accounts
If you choose an interest bearing checking account, be sure to take a close look at the other associated fees. It may say it's a free account with no fees and that it's interest bearing, but if you fall below a pre-determined balance you may pay exorbitant fees or if you have high activity such as lots of checks written or deposited, you may be charged a fee anyway. If it's a per check fee it will undoubtedly be higher than a normal basic account.
You should not pay fees on a business savings account if fees are charged for your checking account you may seriously want to consider switching banks.
Choosing a good bank for your small business is very important, please take this initial step in your business seriously, you'll be glad you did.
"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
Small Biz 101: What is Health Insurance? - Clarifying Health (blog)
Five Experts, Five Tips For Business Success in 2015
Rugby independents gear up for Small Business Saturday
Small biz optimism dips in December: CFIB - Winnipeg Sun
SBA Reveals Top Small Business Lenders
Small Biz in A Digital Age: Cross-Promoting - GoLocalProv
2014 In Review: In December – A Beacon of Small Business Excellence In Oswego
New year may bring more small business help from Washington
SmallBiz-Small Talk - Times Record News
SurePayroll Small Business Scorecard(R): Optimism, Profitability Soar
The Greatest Challenges the Internet Consultant Faces!
While there are few career paths that some would call perfect, being a consultant comes pretty close to having it all. Yet while it is one of the best ways to earn a living, there are challenges and pitfalls that are sometimes overwhelming and unexpected.
Why The Carwash Industry is Stagnant; What You Can Do to Change Your Field
Many years ago, I had warned the carwash industry of problems brewing in customer dissatisfaction as we continued to grow our car wash company into a National Franchise Chain. I warned of environmental controls, speed of wash, water usage, quality of labor, price points, car wash fundraisers, car damage, up selling and hot wax.
Debt Collection Techniques
Here are some sound debt collection techniques that can be followed by businesses to mitigate the bad debt crisis:Sending a pre-collection letter. Hiring a collection agency.
You Are Invited
Business card size works well for invitations to special events.What do you visualize when you think about invitations? More than likely you are thinking about a wedding or a party.
Entrepreneurs and Franchisors Watch Out
New Franchisors and Entrepreneurs need to watch out as they enter into the world of franchising. What advice can I give to a new franchisor, I was asked today by another entrepreneur with a wonderful new concept; what are the tiger traps that lay ahead?So you are a new franchisor? Who can you trust? Can you trust FranData? The Industry's information source was thought to be a friend, is it? Well they can get you on a list so that SBA Loans for your new franchisees go smoothly.
Combating Over Regulation of Small Business
Many small businesses do quite well due to the blood, sweat and tears of their proprietors. Unfortunately in doing to well often you find that the competition uses the government to attack you.
Creative Marketing Tips: Simple Things You Can Use In Your Business To Attract More Clients
The single most important activity you can do in your small business is create a unique marketing strategy and plan. When was the last time you saw a company marketing themselves in an outrageous way? In this day and age it looks like everyone has read the same book on marketing - and sorry to say - that book doesn't work!What does work - is a little creativity, a little personality and a lot of effort to make yourself so different from your competition - that there is no real competition.
Start a Resume Writing Service for Profit
The resume writing service serves an important role in the economy. Many qualified candidates have a difficult time marketing themselves to employers and turn to a professional writing service for assistance.
Passion Is Key To A Successful Business
Passion. Passion alone can make your business successful.
Image is everything - Not just a cliché
What image do you and your people portray to your prospects and clients? Here's a situation that happened to me recently and hopefully you'll glean useful small business ideas that will make you money instead of costing you money.January is always a good time to grab bargains so when I noticed that two well-known blind companies were advertising 35% off their blinds, I decided to give them a call? and it was an interesting experience.
Starting a New Business in a Small Town
Q. I am a former pastor who left the ministry after sixteen years to spend more time with my family.
Boat Detailers; Add-on Products and Services
As a Boat Detailing Specialist, you may want to offer services such as making sure your clients' boat's batteries are charged and offering to charge them or test the boat before they arrive for their departure. This is an easy service to provide and will keep you on the top of the boat owners list of reputable and reliable service companies.
Getting more control over your work and your life
Running a small business requires many skills. However, to do this successfully you need to organize yourself first.
Fleet Washing Operations Manual Sample Outline
In the Truck Washing Business every single type of vehicle is washed differently. If you are going to run a mobile onsite fleet washing business with multiple trucks in multiple cities you will in fact need a comprehensive manual to keep your crews and equipment running at an optimum.
Temporary Staffing Agency: How to Start
The temporary staffing industry continues to expand, with yearly double-digit growth being commonplace. Companies find it convenient and cost-effective to work with a temporary staffing agency to fulfill unforeseen demand, fill short-term vacancies, and assist with changing workloads due to restructuring or mergers.
Are you sure you are really making a profit?
What's your job profitability? Do you know?Many business owners are unsure of their profitability at a company or job level. They "think" they are making money because they have a few dollars in their checking account.
Don't become a statistic - Get business advice on a regular basis
It's a commonly quoted statistic: 80% of all small businesses will fail within the first five years of running. In fact, in Internet marketing, this figure can be as high as 95%.
Share Ad Expenses to Boost Profits
The challenges of the small business owner are well documented. They must battle for market share against larger competitors, run all aspects of their business, and even pay higher rates for advertising and other marketing related expenses.
Seven Common Mistakes Made By Small Business Owners
Most new small businesses won't be in business this time next year. That's the cold hard facts.
But This Is Just My Opinion
|Home | Site Map | Privacy Statement | More Articles|