3 Small Business Financial Statements You Need to Know

When it comes to financial statements for business management, small business owners tend to fall into one of three categories: Small business owners who have their financial statements completely in order and use them to drive a thriving company. Small business owners who understand how financial statements work but are too busy to fully apply…

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How to Read the FDD’s Financial Performance Representations

Let’s be frank for a moment. The Financial Performance Representations, item #19 in the FDD, carry serious weight in determining if you purchase a franchise. It addresses the burning question driving every prospective buyer, “How much will I make running this franchise?” Yet, the complex financial performance representations displayed in the FDD are anything but…

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Should I Use Form 1040, Form 1040A, or Form 1040EZ?

When you file a personal income tax return with the IRS by April 15, you have a choice of 3 basic tax forms to select from that are essentially designed to report similar tax and financial information. These personal income tax returns include: Form 1040 Form 1040A Form 1040EZ While they have similar intentions, each…

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A Guide to Balance Sheets and Income Statements

When you own a small business, organization and good recordkeeping are two of the most powerful tools you have at your disposal. Keeping track of things like sales, outstanding invoices and monthly expenses is essential to understanding how healthy your business is at any given moment. Proper records are also a must if you plan…

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Starting a Business? 3 Documents You Never Thought You Needed

While starting a business is an exciting endeavor, it does consist of some unexciting elements, like properly filing the required legal documents. Although it’s a mundane process, preparing all the appropriate documents is critical to protecting the future of your business. Bypass this step, and you are sure to get caught with your pants down…

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Franchise Turnover Rates

A franchise’s turnover rate is the percentage of franchise locations that close in any given year. We found that about half the franchises in the data we checked had turnover rates of 10% or less.
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