Category: Business

In the United States, more than thirty two million people go to work everyday wearing business uniforms. A business uniform can project a unified image of a company that consistently works with the public.

A business uniform can indicate to customers who the employees are and ask for assistance. Business uniform also allow employers to dictate what type of dress is appropriate for their business. Employees prefer to wear business uniforms, as they do not have to buy a wardrobe for work. There are some employers who will pick up the cost of cleaning the business uniforms. This mostly happens when the company is renting their business uniforms.

Most business uniforms are made of a cotton polyester blend fabric. It stands up to numerous cleanings and is durable and long lasting.

Traditionally, business uniforms have been plain and drab single colored shirt and pants. The color was usually brown or navy blue, or white. There were no other colors that were available.

In recent years, style has come to business uniforms. Employers are choosing oxford shirts and dress pants over “the plain look.” This is called “the executive look.” This look is gaining popularity. It gives the appearance of a prosperous dignified office. Other business uniforms such as lab coats and aprons, vests and smock can be worn over regular clothes. This promotes the image of unity without each person wearing the same business uniform. Most business uniforms can last up to five years. This is with regular wear and washing.

Another option that employers have is to rent business uniforms. This however can be very expensive and eighty percent of all business owners buy their business uniforms out right. When an employer rents their business uniforms, the rental company is responsible for the cleaning of business uniform. The option of renting business uniforms is cost effective to business that have a high employee turnover rate. By renting the business uniform, the company is not paying out funds to buy business uniform for employees who will not last long.

Business uniforms are sold through many different companies. Retail outlets and direct sales companies may be the most expensive, but they also offer fantastic discounts. Business owners should try to find vendors who specialize in only business uniforms. Buying from vendors such as these can save a company a lot of money.

Another advantage to ordering from vendors is that they can offer different terms in their service. They can offer services such as embroidering of logos and employee names. Business uniform rental companies supply each company’s employee with five uniforms per week. Each week the rental company drops off the one set of clean business uniform and picks up the dirty ones. This is done for everyone in the company that has a business uniform.

These services usually require a minimum order of business uniforms and a service contract for two years. This is the standard in the industry of business uniform rentals.

Although it would be more cost effective for a uniform rental company to handle business uniforms if the company is based within the same area as a company that is already being serviced. Some business rental companies will offer a discount for services if a current client refers their service.

The rate for purchasing business uniforms for a five-year period can be as high as two hundred dollars per employee. This rate does not include any cleaning fees.

The rate for renting business uniforms is usually a negotiated rate. It can be between two hundred and three hundred dollars per employee depending on how many business uniforms are supplied to each employee. This rate can be lowered if the service contract is longer than two years.

Experts advise that when a company chooses to rent business uniforms, they should not choose anything to bizarre. By choosing a standard type and color business uniform, replacement business uniforms can be easily obtained. Experts also advise that it is a good idea to institute a business uniform dress code. It will help with the overall image of a company.

In past years, when business uniforms were returned, they could not be reused because of logos that were embroidered on them. They were difficult to take off and often ruined the business uniform.

Today, thanks to a new process that has recently been developed, the logos are attached on a small patch that is heat-sealed on the business uniform. It can be removed with very little effort and there is no damage to the business uniform. This makes reuse of the business uniform possible, there by lowering the cost to companies in need of rental business uniforms.

When a company decides to either rent or buy business uniforms, they have already got a specific design in mind. Whether they have something specially made for the look of their company or they go with the traditional look, they are looking for a good high quality long lasting and durable business uniform. The do not want a business uniform to fall apart before the contract is up.

It can be confusing for a company to try and find the best rate and the best quality business uniforms. It can be a long process comparing company rates and policies.

By doing a google search, it will yield over seventeen million links. Who has time to go to all those links? A suggestion is that by narrowing the search to a specific city and state that the company resides in will reduce the number of results thereby cutting the search time almost in half. This will make the search much faster.

Business uniforms are becoming popular not only in the United States, but all over the world. Countries like Australia are realizing the benefits of having a business uniform dress code. Thousands of businesses in Australia have already instituted a business uniform dress code policy.

Studies have shown that by starting a business uniform dress code policy is first step in making your business run better and be more productive.

Maximising value when selling a business can often mean selling to a customer or competitor and with the current market conditions as they are the return of the trade buyer has made this situation even more likely. Competitors are often the ones who are prepared to pay the best price, but this raises a number of tricky issues and careful management of the sale process is critical to achieving the right result.

Research, research, research
The value of research cannot be underestimated s, with the initial research playing a major role in the sale process and final outcome. The first step when selling a business is to prepare a list of likely buyers. Potential candidates need to be identified by in-depth research of the market the business for sale is currently operating in. This includes speaking to the major players, using the contact networks of the advisors and shareholders and utilising the international networks of corporate finance specialists to determine whether the likely purchaser will come form overseas. The next step is to agree a shortlist of parties to approach.

It is important to understand the strategies of the potential buyers, in particular their M&A plans. Some of this information will already be in the public domain but pre-screening buyers is an important step. The pre-screening process will involve speaking to, or meeting with, potential buyers to reach an understanding of their specific plans. This may even extend to asking questions relating to the area of the business that is for sale though not disclosing who the client is at this early stage

Understanding the key selling points of the business for sale and matching these to the strategies of the potential buyers is critical. There are key questions that need to be addressed at this time. Who is the business worth most to and what are the potential synergies available to the buyer – both sales driven and cost driven? Is there a gap in the potential buyer’s strategy, in terms of their product lines, market segment or geographic coverage that could be improved by acquiring the business that is potentially for sale. Which competitors would find the clients business attractive to buy, perhaps because it would rather own it than compete with it?

Lastly, it is important to understand the key individuals who drive the potential buyers business. Are they longstanding players? Perhaps they have a track record of buying and building businesses. Will they be able to gain support within their organisation to get a deal done?

What we often find is that the ultimate buyer is one of the first names on our list of potential buyers because it tends to be a competitor or a customer who ultimately sees most value in acquiring a business.

When Catalyst worked closely with a heating and plumbing equipment supplier the buyer was its major competitor.

The deal was quite a delicate one because we had to let the other side look at the details of the business but we could not reveal everything in the first instance. It had to be handled extremely sensitively.

The business was finally sold to its major competitor the outcome being a successful result for the vendors of the business who achieved an excellent price. The fit of the business with its major competitor made perfect sense but it was important to ensure that an advisor we understood the sensitivities of the deal without losing the buyer.

Tactics
In a transaction such as this you cant rush in and declare your hand too quickly when you are selling to a competitor and the same applies when selling to a customer. The first step is to prepare a tightly worded confidentiality letter which protects the client from potential buyers using information they learn from their discussions with you. This would include preventing them from using such information to target staff and customers, for example.

it is also imperative to hold back sensitive information until the last minute. Customer information is one such area, as it is vital to head off any attempts by the acquior to approach the customers of the business that is for sale until late on in the sale process. It is also at this stage that it will be important to make sure that there is a synergy between the two businesses. It should be clear that the two cultures are going to be a good fit and that all of the key individuals will be happy in their new roles.

What’s so important about how I sign my name?”

I get asked that question all of the time from my business consulting clients.

I tell them that a better question to ask me is this:

“Who cares about how I sign my name?”

The answer is a simple one.

NOBODY.

FINE PRINT: Except… your customers and clients, your creditors, your bank, your mortgage company, your landlord, the I.R.S… oh yes… and anyone else that wants to SUE YOU (and don’t forget ALL their lawyers!).

As in many areas of the law, the exception to the rule swallows up the rule!

What do I mean by this?

Well, let’s start with some basics. For instance, if you’ve already formed a corporation or limited liability company (LLC), you may think that you’re already protected from personal liability in the event of a lawsuit against your business.

In general, the rule is that a corporation or LLC, if formed correctly, and if all of the formalities required under the law of the State where the entity was formed are followed, does protect you from personal liability for business debts and lawsuits.

FINE PRINT: Except… when you choose to do business as an individual, and not as the corporation or LLC that you initially formed.

You see, whenever you sign documents like contracts, purchase orders, contractual agreements, leases, loans, mortgages, promissory notes, and most other legal documents involving your business, you need to make sure that you sign your name only in your business capacity.

You MUST avoid signing your name in your individual capacity.

And how do you do that? It’s pretty simple. You see, the format that you use to sign your name is the controlling factor.

In many cases, you as the business owner, sign your name without knowing how to properly sign your name to business documents. In fact, most business owners of corporations and LLC’s still sign legally binding agreements in their individual capacity…and not as the business.

SIGN AS AN AGENT OF YOUR BUSINESS

If you have formed a corporation or an LLC, you must remember to sign all contracts, agreements, invoices, etc… as an agent of the business.

For example… Many business owners haphazardly, or perhaps inadvertently, sign legal documents like the format shown in

EXAMPLE 1 below:

EXAMPLE 1

(signature)
————————
John Doe

“But what is the consequence of signing my name like in EXAMPLE 1 above to invoices, agreements, or documents?”

EXAMPLE 1 and the above signature format legally establishes that YOU have signed the contract, invoice, loan, or agreement as an individual.

And not as an agent on behalf of your business.

If you sign your name to agreements in the form depicted in EXAMPLE 1 above, YOU could very well be liable personally to meet all of the terms of the agreement.

And you likely don’t want to do this!

Why Simply out, because you’re therefore subjecting all of your business assets and personal assets as well to the risk of a lawsuit.

If you sign agreements as depicted in EXAMPLE 1 above, YOU will very likely be named personally, as well as your business, in any lawsuit filed against the business.

Remember then:

Signing your name like in EXAMPLE 1 above DOES NOT establish that you have signed the agreement as an agent on behalf of your business.

“Okay. So how should I sign my name to my invoices, contracts, leases, loans, or any other business agreements?

What simple step can I take to protect my business, and my personal assets as well?

SIGN DOCUMENTS ONLY AS AN AGENT OF YOUR BUSINESS

Make sure that you only sign legal documents, letters, memos, invoices, loans, leases, etc… as an agent of your business.

How must I sign my name to any legal document or agreement to show that I am signing only as an agent of my business?

Follow EXAMPLE 2 below:

EXAMPLE 2

ABC CORPORATION, INC.

(signature)
———————————–
BY: John Doe
President (Company Title)

If you sign your name on the dotted line following the exact format depicted in Example 2 above, you legally establish that you are only signing as an agent on behalf of the business…and not in your individual capacity.

But you MUST follow the Example 2 precisely.

CAVEAT: Another very important point on this topic.

AVOID SIGNING documents that state “PERSONAL GUARANTY” on them.

A Personal Guaranty is usually a separate legal document attached to the main agreement. You generally see a Personal Guaranty in a loan, mortgage, or lease. However, sometimes a Personal Guaranty can be established just by the way you sign the legal document, invoice, lease, or agreement.

How?

Simple. If the agreement merely has a signature line that has your individual name on it without any reference to your business name, you are signing the document as a Personal Guaranty. You are therefore personally liable for that agreement if you sign the agreement with such a signature line.

But, what do I do if I am being required to sign a Personal Guaranty, like for a business loan or commercial lease for example?

If a Personal Guaranty is required, you or your lawyer should negotiate a limited period of time (the shortest possible) that the Personal Guaranty will bind you as an individual.

Remember, if you formed a corporation or LLC in the first place, you did it to avoid personal liability and to protect your personal assets. Anyone who does business with your company should, and usually does, know this. So, be careful. Other possibilities can be negotiated too. Just do your best not to sign in your personal capacity by signing a Personal Guaranty.

It’s important to remember to only sign legal documents, invoices, and even letters as an agent of your business. (Follow the format found in EXAMPLE 2 above).

How else can I make sure that I am signing my name properly to all of my business documents?

Call your attorney to review all of your agreements, invoices, leases, and legal documents BEFORE you sign them. Your attorney will offer sound advice that protects YOU, your loved ones, and your business.

Now, let’s review.

What’s in a name?

Well… besides your business…

…it could be all of YOUR personal and family assets!

The best advicve especially in the midst of tough economic times or a Recession, is to have any document you sign first reviewed by your lawyer or business consultant.

Copyright (c) 2008. Miguel Mendez, Jr. All rights reserved.

Finding out which small business management software solution is right for your business can be a long road. The majority of companies that offer this will tell you that their product is the best on the market in order for you to sign up to their service. Whilst it can be very useful to take a look at marketing material for small business management software owners of businesses should know what features to look out for. Here are a few questions which will help owners and managers of small businesses to ascertain if a small business management software solution they are interested in is right for them:

How many employees can be added to the application? If you are looking at software that will only allow for 10 or 20 employees there is little room for expansion. Instead look towards software that can handle up to 50 employees.

Is the application web based? Small business management software that is web based has so many advantages over other types of software. It means that owners, managers and even employees can log on from anywhere with an internet connection and check information relating to the business or even carry out their role from another location.

Do the features on the small business management software solution do everything your business needs them to? For example if you need a quoting and invoicing tool it has to have these as standard, similarly a business needs software with integrated calendars, document storage, project planning tools and reporting features to name but a few. Without these features a small business might need to pay for other applications, which is a waste of funds.

Is the small business management software solution easy to use? If a new software package is difficult to use and navigate around it can spell big problems for a business. Not only will it take a disproportionate amount of time to train employees on how to use it, it may also be too clumsy to use effectively. It is surprising just how many businesses sign up for software that is incredibly hard to use and requires several hours worth of training per employee. To get the most from small business management software it should take around an hour for employees to get to grips with and from there they can build upon their knowledge.

Can the software grow with your business? Whilst most businesses start off small there are a large number that do not stay small. With this in mind you need software that can handle a growing customer contacts database and will allow you to add employees as you hire them.

Does the software offer you a free, no obligation trial? This is essential before you spend money signing up to any software application.