1. Understanding Franchising A franchise is a business model where an individual (the franchisee) is granted the rights to operate a business using the branding, products, and operational methods of an established company (the franchisor). In exchange, the franchisee typically…
1. Department of Science and Technology (DOST) – TECHNiCOM Program The Technology Innovation for Commercialization (TECHNiCOM) program by DOST supports startups in the pre-commercialization stage. It offers funding assistance to transform innovative ideas into market-ready products, focusing on technology-based enterprises.(Phildev)…
1. Develop a Solid Business Plan Begin by outlining your coffee shop’s concept, target market, and unique selling proposition. Your business plan should detail: A well-structured plan not only guides your business decisions but is also crucial when seeking financing.…
1. Introduction to Market Research Market research is a critical tool for businesses aiming to understand their target audience, evaluate market trends, and make informed decisions. By collecting and analyzing data, companies can identify opportunities, mitigate risks, and tailor their…
1. Financial Constraints and Funding DifficultiesSecuring adequate funding remains a significant hurdle for new entrepreneurs. Traditional lending institutions have tightened their criteria, making it harder for startups to obtain loans. Additionally, investors are increasingly selective, often favoring businesses in trending…
1. Understanding Purchase Orders A purchase order (PO) is a formal document issued by a buyer to a supplier, outlining the details of products or services to be purchased. It serves as a legally binding agreement once accepted by the…
1. Freelance Services Offering services such as writing, graphic design, or web development can be initiated with just a computer and internet connection. Platforms like Upwork and Fiverr provide access to a global client base, allowing you to monetize your…
1. Executive Summary Begin with a concise overview of your business, highlighting the mission statement, the products or services offered, and the primary objectives. This section should capture the essence of your business and entice readers to delve deeper into…
1. Executive Summary Begin with a concise overview of your food truck concept, highlighting your unique selling proposition, target market, and financial goals. This section should capture the essence of your business and entice readers to delve deeper into your…
1. Bootstrapping: Building from the Ground UpBootstrapping remains a foundational approach for many entrepreneurs. Utilizing personal savings, reinvesting profits, and minimizing expenses allow founders to maintain full control over their ventures. This method fosters discipline and a deep understanding of…
