abroad http://www.bizcovering.com/tags/abroad New posts about abroad Buying Property Abroad http://www.bizcovering.com/Real-Estate/Buying-Property-Abroad.59845
  • Visit the area you are interested in
  • If you are used to independent travelling, book your own flights/accommodation/car and have a good look round the area yourself instead of going on an organised trip
  • Prior to your visit think about the type of property you wish to purchase. Do you want to be part of a complex or somewhere more remote? If it's an apartment which floor would you prefer to be on? How many bedrooms do you require, how many bathrooms? Is the property going to be a holiday home or are you going to rent it out as well?
  • Research the extra taxes to be paid on the property. Each country has different taxes. Remember to build this into the price.
  • If you are hoping to rent out the property do not rely on rental to make your mortgage payments. Rental income should be treated as a bonus not a necessity.
  • It's easy to get carried away when looking round property, stick to your budget, remember you will need extra money for solicitor fees, furniture etc
  • When you have found a development you are interested in, look carefully at the plots available. Remember to consider things like when will the sun be on the terrace? Is there a road nearby? Could building work in the future jeopardise your views?
  • If you hope to get some rental, is it going to appeal to potential renters? Is it nearby to restaurants, etc, is it near to the beach, is there a pool for guests to use?
  • Visit nearby restaurants and shops, speak to the locals, ask them questions regarding the locality.
  • Have a look on the internet for forums for the area you are considering buying in, you might pick up some very helpful information
  • Get an independent English speaking solicitor. Do not go to the solicitor recommended by the developer. Ask around, word of mouth is the best recommendation.
    • ]]>     Mon, 19 Nov 2007 04:21:34 PST     Taking the Franchise International http://www.bizcovering.com/Marketing-and-Advertising/Taking-the-Franchise-International.26938 Whether you're considering purchasing a franchise system or have already made the investment, expanding your franchise internationally is a whole new ballgame. Unlike working in the United States, there are some heavy restrictions and considerations you need to look into before you make the international investment. Below are a few tips to help you make your decision.

    Learn the language

    It is important before you take your franchise internationally to investigate the language. Make sure you are proficient in the language to ensure that you can communicate effectively with staff members, advertising and marketing agencies and customers

    Know the culture

    By learning the culture, you will gain insight into the needs and expectations of your new constituency. A Star bucks franchise, for example, has proven to be ill received in Paris, where corner cafes and bistros have held the city since coffee was bought and sold. In order to properly develop and market your franchise, you will need to understand the culture of your country intimately. It's recommended that you spend a few months in the country doing research before making the investment.

    Know the city

    Many International small business owners develop their business in a part of the city that does not serve the business's needs as well as another part might. It's important to know the city in which you wish to place your franchise before you invest your time and money in construction and marketing. For example, a sandwich shop will do fine in a city suburb, but it will do excellently in a city center during the mid-day lunch rush.

    Research your market

    Researching your market is similar to getting to know the culture. Researching your market, however, involves investigating numbers and holding focus groups. You can either hire a company to conduct focus groups for you or you can hold informal focus groups on your own. Develop a list of questions, such as, “Would you use this business or product? How often? Why?” By researching your market, you will develop a sense of what your new community needs, seeks and expects. You can then shape your business to meet those demands.

    Check with the Franchiser for Rules

    Before you head international, make sure you contact your franchiser for their rules. Many franchisers have stipulations about advertising methods, communications and building structures. Make sure you have your plans and building drafts approved prior to settling internationally. It would be a huge set back to obtain a franchise, but not be able to use a building you've purchased because the franchiser has different requirements.

    Market your Franchise

    Marketing your franchise will largely be up to you. Many franchisers offer marketing packets and tips. You can even purchase sign age for most major franchisers. Yet actually doing the gritty work will be up to you. Send postcards to local residents in the area around your franchise. Consider investing in radio/TV, newspaper and mass transit advertisements. Host an open house or Grand Opening Party to announce your new business.

    Most of all - be creative. The reason your franchise will succeed or fail relies largely on your ability to be more creative with your product and marketing than your competitor. Get out there and good luck!

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