Entrepreneurship Notes: Success in the Restaurant Business

Two friends at a restaurant

Two friends at a restaurantA food and restaurant business is a very lucrative venture, but it still requires effort to ensure its success. There are other factors — apart from serving good food — an aspiring restaurateur like you can do to help your business take off.
Create the right ambience

People tend to go back to places where they felt good, so be sure your restaurant will evoke only good feelings by creating the right ambience. In Australia, for example, there are many tastefully designed restaurants that give off a unique and chic atmosphere. From the lighting, flooring, and décor to the plates, condiment holders, and juice dispensers in AU, every item must create a comfortable ambience. Also, always consider your target market when creating the right mood for the place.

Marketing matters

Whether you are opening a restaurant for the first time or a veteran owner, promotion matters for your business. You can do this by making flyers and posters that contains all the basic information: location, menu and specials. If possible, also have your signage installed early on, so passers-by can already see the name of your business. A website and social networking accounts offers information for clients who stumble upon it online.

Choose the best location

The right ambience and a good marketing strategy will be for naught if your restaurant is not located in the most convenient place. More than foot traffic, your target market should be the top consideration when selecting your business location. Who are you serving? If your products cater to students more, it is best to find a location near a school. This ensures a steady stream of clients.

No food business is guaranteed to succeed immediately. With good food, the right ambience, a sound marketing plan, and a strategic location, however, you can help your restaurant succeed in the long run.

Analysis Shows Mixed Growth of Ventura Capital for Australian Startups

A business meetingVenture capital investors poured more money into Australian startups in 2017, when investments rose 1.4 percent year over year to more than $555 million, according to a KPMG analysis.

However, the Venture Pulse showed that the number of venture capital transactions had dropped 27 percent in the same comparable period. For companies that want to expand, seeking a business broker for franchise opportunities could be an alternative plan.

Quarterly and Yearly Increase

KPMG said that startup enterprises in the country sealed 17 investment deals worth $121.55 million in the fourth quarter of 2017. These included IR Exchange’s $30 million contract, a more than $25 million investment in Airtasker and Spaceship’s almost $20 million transaction.

For the entire year, the number of venture capital deals slid from 185 in 2016 to 135, according to the analysis. Still, the increase in ventural capital funding indicates that investment in new companies has matured in recent years, according to Amanda Price, Head of KPMG High Growth Ventures.

She expects that the fewer number of deals represent a “temporary shift” instead of a “major structural change,” as venture capital still plays an important role in the startup segment.

Attractive Sectors

Price said that the healthtech, biotech and autotech comprise some of the most popular investment destinations for venture capital firms in 2018. As long as innovative technologies such as artificial intelligence are applicable, the startups in these sectors will continue to attract investors, she added.

Aside from angel investors, startups may pursue crowdfunding initiatives to raise equity due to the decline in seed funding, according to FinTech Australia CEO Danielle Szetho. The Australian Securities and Investments Commission recently granted a licence to first seven crowdfunding companies in the country.


Startups now have more options to secure funding compared to previous years. How do you intend to fund your company’s expansion plan?

Management Practices that Improve Flow and Customer Experience

Asset Management staff working

Asset Management staff workingReturns affect not only the retailers but also goods manufacturers. It’s important to implement a method that focuses on the seamless management of returns, decreases costs, supports customer experience, and improves brand perception.

 Since the dawn of e-commerce, retailers and manufacturers have tried to prepare for the increased flow of returned goods. However, one can view it as a source of revenue and innovation rather than just a cost of business. Experts at reverselogix.com share the best practices for returns management process and how you can achieve your store’s objectives.

Streamlined RTV Agreements

Returned products can have a significant operational and financial impact, so creating a streamlined process for managing both retail and manufacturer returns is crucial. In every retailer-vendor relationship, Return-to-Vendor (RTV) agreements play a key role in how both parties will handle returned inventory and settle disputes.

Parties can decide whether the returns should be processed through stores or sent directly to the manufacturer. Stores can also use an RTV software to identify unused inventory and send them directly to vendors immediately. Ultimately, an effective agreement reduces touches on returns in both handling and transit so that employees can have more time for customers and stock products.

Optimized Multichannel Retail Experience

Returns can be redirected and turned into customer and margin growth opportunities. One way is to apply a multichannel approach to your e-commerce and secondary markets through the help of the right reverse supply chain partner. Employees will be able to put more effort into sales and support for customers. With this, you can deliver value to your clients as well as increase their online shopping experience.>

Break away from traditional practices that can drag return processes to no end. With new technologies and strategies, you’ll be able to transform the supply chain and seize opportunities for revenue growth.

How Can You Tell if a Material Contains Asbestos?

Asbestos signAsbestos, a naturally occurring mineral commonly found in rocks and soil, is extremely hazardous if its fine fibres are released into the air. Any material that contains asbestos, therefore, must be handled with care to avert severe chronic health issues. But how can you identify if an item contains asbestos?

Asbestos-containing materials

Asbestos is durable and resistant to heat. With these qualities, asbestos may be found in fire retardants and insulation materials. Other manufactured goods that may contain asbestos include building materials such as tiles and shingles, friction products like vehicle clutch and brake parts, and heat-resistant coating and fabrics.

You can’t identify asbestos by sight

Asbestos-containing materials are difficult to identify. Unless a product has an asbestos label, you can’t tell whether it contains the hazardous fibres just by looking at it. Whenever you are unsure, treat the material in question as if it has asbestos. Leave it intact and call an asbestos removal expert in Perth, WA.

An inspection to identify unlabeled asbestos

Consult a trained and experienced asbestos expert if you suspect there may be asbestos-containing materials in your home. You should also have the home inspected if you’re planning to remodel it or it has damaged building materials. If such materials are disturbed or deteriorated, they can release asbestos into the air. Disturbance and damage may happen during product use, or building, demolition, repair or remodelling projects.

How asbestos inspectors work

Asbestos professionals inspect a home and assess its conditions. They then take samples of the suspected materials for testing. If there is asbestos, the inspectors will advise on the best corrective measures. To protect your family from asbestos exposure, have your home inspected by an experienced asbestos removal expert.

How to Have a Stress-Free Business Travel Without Really Trying

a passport and visaBusiness travel is usually a necessity for many executives. Unfortunately, it can be a hassle in many cases. There are factors you cannot control, such as poor weather and flight delays. However, you can do a few other things to make your travel stress-free and enjoyable.

Here are some tips to help you.

Get ready for security checks

If you are traveling out of the country, familiarize yourself with the security restrictions of the host country. Keep the electronic devices where you can remove them with ease when you get at the security checks. Also, ensure that your travel documents are valid and updated for a smooth entry to the host country.

Allow yourself some extra time

Allow for extra time between flights, riding a taxicab to your hotel room and freshen up before going to your meeting. Delays do happen and may cause you to lose that business opportunity. It is good to travel a day before the meeting.

A little luxury and relaxation serves you well

Travel in comfort and luxury. Here is an example; When you visit Washington DC, book a cozy hotel with pretty much all the amenities you would need. Hire a luxurious airport taxi service in Dulles going to your hotel.

Take some time to sample the attractions and cuisines around the city. It is relaxing and gets you in good form for your next meetings.

Carry backups

Do not rely so much on your laptop or phone. Carry both hard copies and soft backups of your information. You can also save a copy in your email. You will have plenty of sources should your devices fail.

Business travel can be a lot easier if you plan on it and get prepared for any eventualities. Get some time to have fun and learn about life in your destination. This way, you will accomplish your goals and enjoy the trip.

New Zealand Launches New Energy Efficiency Rating for Buildings

Skyline of New ZealandNew Zealand made strides in its sustainability efforts with the recent launch of the Green Star Performance program for commercial buildings in the country.

The new rating aligns with the government’s efforts to become carbon-neutral by 2050. It will apply to all non-residential buildings such as hospitals, industrial properties, offices and schools. From a scale of zero to six stars, the Green Star Performance will evaluate buildings in nine categories.

Sustainable performance

Buildings with a five-star rating reflect outstanding performance on NZ’s environmental standards, while six stars acknowledge their compliance with world-class sustainability. Those who aim to achieve the highest rating will need to improve systems for central heating in NZ, as indoor environment quality serves as one category for the rating.

Other categories include carbon emissions, energy, materials, transportation, water, management, innovation and land use and ecology. The rating will be important to assess the performance of commercial buildings, as most of them “will be around in 2050 to 2100,” according to Lee Bint, BRANZ sustainable building scientist.

Reducing emissions

While the Green Star rating presents an opportunity to advance sustainable practices, New Zealand needs to think of other ways on how it can meet its 2050 carbon neutrality target. Massey University professor Ralph Sims said that it might involve some difficult reforms in the agriculture industry.

Since livestock farming accounts for a huge share of the sector, it makes sense to start from there regarding reducing emissions. Sims believes that it will be challenging to minimise the livestock farming, but it will be necessary to accomplish long-term goals to curb global warming and climate change.

The new sustainability rating will allow buildings in New Zealand to be more competitive based on environmental standards. The government, however, will need to consider all options for lowering the production of greenhouse gases from emissions-heavy industries such as the agriculture sector.

Opening a Coworking Space: A Quick 101

an open office space with coworkers aroundGone are the days when professionals are stuck working behind a desk and bound all day at the office. With the rise of Millennials in the workforce, the trend is to have built-in flexibility at work and the answer to such demand is coworking spaces. The concept of coworking is to provide professionals with an office setup they need and the freedom to work whenever and wherever they want.

The rise of coworking spaces

Coworking spaces are open-office environments where professionals, startups, and freelancers can work together and share equipment and amenities without being burdened with excessive rental space for a traditional office space.

With the rise of office properties, it’s definitely a good idea for someone looking to invest in a new venture without too much hassle. If you find a bit intimidating to start up your own, taking a coworking franchise might be your best bet.

What to consider in setting up your own coworking business or franchise

Space and amenities are the priorities you need to consider. Today’s new breed of workers and professionals are not only looking for a place they can work, but also a place where they can network. As such, location is everything. You want to entice clients by offering them a location where they can have quick access to things and locations where they have their own clients — urban areas and central business districts are good ideas.

Next should be the amenities and facilities. It’s not just about providing a long table where people can work together. Yes, it should have an open plan, but remember that it’s still a space that should provide people privacy when they need it, especially a space where they can hold meetings. With the communal nature of coworking spaces, it’s also a great idea to have a common area where people can network and even consult with each other.

While this is a simplified view of what to expect if you plan to open a business or franchise like this, don’t forget to take into account other expenses that would come into play. However, if you do manage to find a good balance, opening a coworking business is definitely a good investment that has a good future.

Attract More Customers to Stay in Your Hotel with These 3 Tips

a couple checking in at a hotelCompetition in the hospitality industry nowadays is tough. Accommodations are everywhere, and travelers often find it difficult to choose which one deserves to be booked.

If you’re running a hotel in Utah and want to be noticed, you have to go beyond your current efforts so you can achieve a high rating and attract more customers.

Offering the best customer service 24/7 is vital. Upgrading your facilities and providing complete amenities are also crucial. Apart from these, here are three more tips that you must not neglect:

Cleanliness as a priority

One of the aspects you have to prioritize when running a hotel is cleanliness. Professional cleaning services in Utah can help you achieve your goals when it comes to hygiene and sanitation.

When the floors are spotless, the hallways are bright, and everything smells fresh, you’ll leave a good impression on your customers. Remember, it’s not about being an old or new establishment; it’s about keeping the hotel environment inviting and healthy.

A happy staff does wonders

Your hotel staff is the reason why your business continues to run, so take time to give monetary rewards, free food or even an extra day off. It will mean a lot to your staff if you show kindness and compassion and see them as more than just colleagues. This form of appreciation will also help them perform well, which ultimately leads to success and profit.

Up the ante in your marketing strategy

Discounts, free stays or contests are surefire ways to attract customers. Take advantage of various social media channels for promotion. Don’t forget to boost your website as well by ensuring that photos are attractive and content is comprehensible.

If you need to reward your most loyal customers, do it. Treating your frequent guests like VIPs will surely bring them back and make them spread the word about your business.

When Hiring Makes More Sense than Buying Heavy Machines

An earthmoving vehicle digging dirtWherever in the world a construction project will take place in, whether in New Zealand or not, one thing remains certain: there will always be a need for earthmoving equipment.

These heavy types of machinery may have different names in countries other than NZ or Australia, but they still have the same purpose: make the completion of labour intensive work possible.

Because of the massive roles these pieces of equipment play in all construction operations, building professionals cannot afford to bypass their use. In fact, it is against the law to undertake projects without the proper equipment.

At the same time, it can be impractical and very costly for construction firms to purchase even just the basic necessary machines.

The cost-effective approach

The good news is, you do not have to necessarily purchase all kinds of equipment that you need to carry out construction work. Much thanks to fleet operators, you will now find equipment hire services, such as truck hires in NZ.

Of course, you still want to have your fleet, but to remain afloat in today’s very competitive construction market, you can’t risk your finances just for the pride of ownership.

Time will come wherein you can finally make this huge step, but at the moment, especially when you have just started your business, hiring is the most cost-effective approach.

Determining which equipment you should hire versus buy

This depends on many different factors, especially the type of work you most frequently undertake and, of course, the funds you have and how much you can afford to shell out.

If you are financially able, consider investing in your own excavators, backhoe loaders and bulldozers, seeing that these are the most commonly used heavy machines in construction work.

As for material handling and transport, you may want to consider hiring them instead, as you grow your business and save up on your own.

Just remember to choose the company you will hire equipment from carefully, to ensure that they have well-maintained and fully functional machines.

5 Must Ask Questions for Your Concrete Repair Contractor

Construction inspector observing current projectYou have some concrete work to do. Whether it’s a new construction or repair job, you know how crucial it is to have it done by a highly experienced contractor. The challenge, however, is finding the right contractor from the large pool of construction companies out there.

It is important to have a series of questions prepared, as these will help you make a good decision. Here are some of them:

Do you have insurance?

Before signing the contract, ask the concrete company if they are fully insured. This will ensure that you are covered against any damages to your property in the course of their work. It will also exempt you from being liable for the medical bills should an accident happens in your premises.

Can I get a list of references?

Ask the company for a list of their previous clients, as well as photos of their previous work. Contact some of the former clients and ask for their reviews and recommendations. Check their level of satisfaction and whether their expectations were met. Inspect the finished work if possible.

It is important to concentrate on reviewing the type of work you are interested in. For example, if you need a concrete driveway repair service for your home in Kansas City, review similar jobs done by the contractor. This information will help you assess the contractor’s reputation and the quality of work to expect.

Where is your physical address?

Any professional concrete contractor should have a physical location. This shows professionalism and is a sign of legitimacy. Be wary of contractors who tell you that they operate only via online platforms. It’s ideal to arrange a visit to their office for an initial consultation.

Do you offer a warranty?

A reputable contractor will offer you a warranty, at least for a year. If a company doesn’t provide any warranty, move on to the next contractor. Be sure to check the clauses in the warranty to determine what is covered and what is not.

Do you subcontract?

Find out if your prospective concrete company subcontracts. Some companies may have limited resources and to make up for this, they hire another firm or expert to handle some tasks. The sad thing about subcontracting is that it can end up hurting your budget and compromising your project. It will also take more time to finish the work. If possible, hire a contractor who can do all the work.

Finding a reputable and a trustworthy contractor can be a challenge. But with the help of the above questions, you will be able to find the one in no time.