What is the Difference Between a Small Business For Sale and a Franchise?

Franchises exist in all realms of business and are certainly not limited to food chains and carpet cleaning services. Literally thousands of businesses are franchises throughout the country and all over the world. Whatever kind of business you are hoping to purchase, you can certainly find a franchise option. Before deciding this is the best choice for you, it is essential to understand the difference between a small business that is for sale and a franchise chain.The purchase of a small business is fairly simple. The seller and you come to a decision on a reasonable selling price and papers are signed. A final date is set and you move in to take control of all the business assets and operations. Most of the time, your relationship with the seller ends after the purchase of the business, but sometimes, like in the case of network marketing businesses, the previous owner will continue to earn residual income as you successfully run the business. In almost every other case, though, you are on your own after the sale takes place.With the purchase of a branch of a franchise, the relationship between you and seller stays in place after the purchase. You become the franchisee and the seller is the franchiser. They collect a fee from you up front that pays for brand name recognition, a business model to follow, training for yourself and that of future employees as well as continuing support. You also continue to give the franchiser a percentage of your revenue to pay for these ongoing benefits. As the owner of a franchise, you must follow specific guidelines for running the business to keep it consistent with the other branches of the company. You may have noticed that every McDonald’s, JCPenney and Wal-Mart looks and operates the same. This is because every franchisee follows the procedures set up by the franchiser.Some people prefer the comparative simplicity of purchasing an individual small business while others are intrigued with the idea of owning part of a franchise. No matter which one you choose, there are countless niches you can choose from to find the best business for you to own. Remember, buying a small business franchise is much less capital-intensive than building one from the ground up, especially a franchise guru like McDonald’s. You can have the benefits of name brand recognition without the huge expenses of starting a business from scratch by finding the right franchise to purchase.

Automotive Service Facility Secrets That Will Save You Money

I want to talk a little about automotive diagnostic costs and how they get passed on to the average consumer along with the reasons behind this. The inner workings of Automotive service centers are very similar in some aspects and very different in others. Some service centers really try to give the best customer service available while others will charge you for every bit of time that they can scrape up and not even look back.

Not all Automotive diagnostic strategies are equal.
The truth about diagnostics is that technicians will not always treat them the same way. There are always different points of view and unfortunately just because you retrieve a certain fault code, the part it points to may not in fact be the failed part. The technician will use his own experiences to diagnose the problem and not necessarily the “text- book” method depending upon the skill set of the tech.

Technicians need to feed their families.
The technician, like anyone else, needs to feed his family and in the automotive service profession the techs are paid by the book hour. This means that they receive a small amount of time to diagnose the problem and the standard “book” time to replace the part. This is where things tend to go wrong as the technician is forced to “beat the clock” to diagnose and repair your vehicle.

Parts Swapping
When the technician is faced with a fault that is unusual and has to spend a fair amount of time on it, this is where you start to pay. It is not that the technician is untrained or inexperienced, but rather that he or she may have to ask for extra time or start swapping parts which you may end up paying for.

Paying for more than you needed
Nobody usually minds paying a little extra if the technician has run into a problem and needs more time, but it is when the fifth part that was replaced has fixed the problem and you are faced paying for the other 4 possibly unnecessary parts. This happens because the technician must fix the vehicle as promptly as possible to get paid and move on to the next job.

Be smart about your repairs
When you bring your vehicle in for diagnostic work such as a check engine light, air conditioning, abs light, air bag light, etc. always and I repeat “ALWAYS” tell the service center to call you after they have put an hours worth of time in and convey to you where they are at with the vehicle at that time. At that point you can make a determination where the technician is at in diagnosing your vehicle and you can then decide how much more time you are willing to let him spend on it. Don’t be afraid to push the service adviser into telling you whether he is close or not.

Paying for parts you did NOT need
There are many instances where the technician will put 2, 3, or 4 parts on the vehicle and say that they were all contributors of the problem and it seemed to get a little better as each one was replaced. From my experience this is possible only when the vehicle is just so old and neglected or there was consequential damage as something took out a multitude of parts and it usually wasn’t any of the parts but some other underlying problem. Again you should instruct the service adviser to call you as soon as they suspect a part and want to replace it and if it is not the problem will you be charged for that part.

Generally dealerships will treat you better
Automotive service dealerships normally will be more expensive, but are large enough to usually work with you on possibly splitting the time of the diagnosis. If it was an extensive diagnosis they may consider “eating” some of the time and NOT charge you for any parts that did not fix the vehicle. There are many independent service shops that will grant this negotiation to you, but in my experience there were not as many.Everyone needs to get their vehicle serviced at some point or another and being aware of the situation will greatly help you in the long run. If you experience a situation that you are not so sure of and need a little advice, be sure to drop us a line at the company website.

Crypto Currency Vs Fiat Currency

Crypto currency vs. Fiat currency

Are you aware of the fiat currencies and the crypto currencies? They both are currencies in one form or the other and are open for public use across the world. But they are both different and distinct in their own ways. There is always one group that favors the use of cryptos, while the other has a soft corner for the fiat currencies.

In cashless society- crypto money play a huge role

If you have a look at the market of the 1970s and 1980s, you will find that the cash played the dominant role. But, with the change in the technology, electronic transactions have become the usual norm. Today, more and more people are influenced in becoming the cashless society. With the progress towards the cashless society, cryptocurrencies have a big role to play.

Crypto currency and fiat currency are always at loggerheads

Cryptocurrency and fiat currency are popular types of digital currency, especially when it is about an online transaction. They both are currencies currently in use in the market but have some differences in them. There is a hell lot of hypes that you will hear on a daily basis comparing the crypto money and the fiat money. This article will highlight the difference between the two in a more comprehensive and clear manner.

Differentiating in what the currencies stand for

Before going for the difference between the two, you must understand what do they stand for and how are they are defined.

The fiat currency is a legal tender that has the support of the central government, and it operates in the physical form. For instance, US dollars, British Pounds, Euro etc. On the other hand, the crypto currency is a non-legal tender, and doesn’t have any backup from the central government or bank.
Hence, the difference between crypto currency and fiat currency is noted as follows:

• Crypto-currencies are decentralized and global in nature. There are no one entity or government that controls the currency with their laws and regulations. The Fiat currency is centralized, under the control of the laws and regulations of the banks and government.

• Crypto-currencies have their existence only in the digital domain. On the other hand, you will find that the fiat currencies have a tangible and physical existence.

• There is a limited supply of crypto-currencies with a maximum set of them getting supplied in the market. Whereas, the fiat money has an unlimited supply as the government and bank are entitled to produce coins and paper money whenever the situation is required.

• The Bitcoin and other crypto type currencies are created by the computers, while the fiat currencies are issued by the local government and the banks.

• Cryptocurrencies are presented as the public and private code pieces. On the other hand, the fiat currencies are presented in the form of coins and paper money.

• The value of the crypto currencies is not recognized by the supply and demand of the market. Whereas, the fiat currency value is determined by the market regulations of supply and demand.

The different types of crypto and fiat currencies

In the last one decade, the popularity of crypto type currencies has emerged as a huge success. It was in 2009, when Bitcoin was first introduced, and years after several other types of crypto currencies have emerged. Starting from Litecoin. Dogecoin, Ripple to the Dcash and Zcash, there is a plethora of them. On the other hand, the fiat currency has a rich and ancient roots, with the Great British Pound, that dates back to 775 AD. It is considered as the oldest currency in the world that is still in use.

The differences in the anonymity between the two currencies

When you are using the fiat currencies, you need to undergo a user identification or verification process. You are asked to upload a recent picture of yourself and some of the required documents to be issued as per the public authorities. You don’t need to undergo any of the required processes with the crypto currencies. Though your personal information and confidential details don’t get public, but all your transactions are recorded and tracked in both the fiat and the crypto currencies.

Fiat currency vs crypto currency: transparency level

• The transparency level with the crypto type currencies are considered to be more. This is because the revenue streams are displayed in a public chain. Everyone can witness their own and others’ transactions.

• The fiat or govt. currencies are not transparent, as there are not public chains to see the revenue streams of the people.

A comparative historical roots

If you compare the crypto money with that of its counterpart, fiat or government currency, you will find that their existence and creation brings the difference. The Fiat or government currency, dates back its existence as early as 775 AD with the introduction of the Great British Pound. This is why fiat type currency is easily accepted by the people all over.

On the other hand, the crypto coin was perhaps first introduced only a decade ago, with the introduction of Bitcoin in 2009. The challenge that the Bitcoin and other crypto currencies face is catching up with the immense popularity and increasing fan base of the fiat currency. Crypto currency, is no doubt gaining importance and popularity in the economic market, but it has still not been accepted widely in the society as the fiat currency.

A comparative history of the two currencies:

• It was in the 11th century, when the Chinese Song dynasty was perhaps the first one to issue the paper money. It was not allowed to exchange with valuables like gold and silver or silk.

• There were Tally sticks that were introduced as a fiat or government currency. 1100 Tally sticks were introduced as a combat for the shortages in gold.

• 1971, was the year, when the fiat currency received a worldwide recognition. President Nixon introduced it in order to eliminate the dollar pegging system to gold.

• It was in 1998, when the idea of an anonymous electronic cash system emerged by Wei Dai. Bitgold-the very first crypto currency was created by Nick Szabo, but it didn’t receive as much attention as Bitcoin.

• In 2009, Bitcoin was introduced in the market, that became the first crypto currency that was accepted across the globe. In 2011 and after, a series of several other crypto currencies were introduced. Some of the popular ones include, Litecoin, Dogecoin, Ethereum, Ripple, Zcash, Dash and so on.

The traits of both the currencies

The potential of the crypto type currencies and fiat currencies, accessing their traits is important. You will find that in some of the criteria, Bitcoin and other crypto currency is superior than the fiat or government currency, and in some cases, the latter surpasses. It is absolutely your call to choose the type of currency (crypto type currency or fiat type currency) based on your personal needs and requirements.

Let us compare their traits with respect to certain factors.

• Both the crypto coins and fiat type currencies are interchangeable in nature.

• As per the portability is concerned both the currencies secure more or less the same position.

• With respect to the non consumable criteria, crypto currency and fiat type currency have the equal status.

• Crypto type currencies have high durability as compared to the fiat-currencies that have moderate level of durability.

• Both the crypto or virtual currencies and the fiat or government currencies ensure secure and safeguarded transactions and exchange.

• Crypto or digital currencies are highly divisible in nature. On the other hand, the fiat type currencies are moderately divisible.

• In terms of the transaction process, the crypto currencies are easy and hassle free. Whereas, on the other hand, the traction process associated with the fiat currencies are easy, but not like the cryptos.

• The crypto based currencies are decentralized and global in nature, unlike the fiat currencies that are centralized and functions under the laws and regulations of the government.

• The crypto based currencies have high scarcity, where as, the fiat currencies are unlimited as the government can issue coins and paper money whenever there is a need.

• The crypto based currencies are based on mathematical algorithms, and are programmable. The fiat currencies are not at all programmable.

• The fiat currencies are sovereign in nature, while the crypto currencies are not.

The process of the functioning of the currencies

You can find the significant differences between the crypto or digital currencies and the fiat currencies with the way they both operate and the transaction process that take place. They are contrasting in nature. The transfer of money using the Bitcoin is very quick, and you absolutely don’t need any third party association.

On the other hand, if you are involved with the money exchange using Fiat type currency, a mobile wallet is in use. You can exchange an amount of e-money that gets transferred into the equal e-value amount. Both the fiat and the crypto currencies enable you to purchase everything that you desire. But the processes involved are absolutely distinct from each other.

Depending on the things you purchase, you will find that one currency form is better than the other. This is absolutely your choice.

Is Bitcoin, a crypto currency better than the fiat-currency?

The long term benefits and the capability of the Bitcoins is still not established. But it has been predicted by the crypto currency gurus and experts, that they will go a long way, especially revolutionizing the way the online transactions are done. In the current market, the Bitcoin is mainly included in the online casinos and the gambling, but it is not limited to it.

Furthermore, when you compare the fiat currencies, the Bitcoin allows you to seize the power and authority from the banks and the government since it is not controlled. The cryptography based currency has the capability to create or come up with the free market capitals. Fiat currencies are affected by the inflation and the changes in the market, unlike the crypto based currencies. Such aspects make individuals believe that cryptograph based currencies will soon take over the mainstream currencies and bring a transformation in the way the money is used.

Why is Bitcoins considered to be a better aspect than the fiat type currencies?

• Bitcoin gives you the opportunity to re-create a free market capitalism.

• The power of controlling the money is absolutely with the individuals, and not with the banks like the fiat type currencies.

• When there is an inflation, the Bitcoin is not affected. But the Fiat type currency will be easier to lose and get affected by it.

• The Bitcoin currency is easy easier to exchange and transfer as compared to the fiat or government currencies.

• The transaction fees involved with the Bitcoin are way cheaper and easily affordable.

Crypto currencies seem to be a favorable option among the people

The fiat type currencies are the centralized and legal way of exchanging money. But, the crypto currencies have acquired immense popularity in the past few years. There will never be anyone who would act as a middle man, like the case with the banks. Moreover, the cryptos are way cheaper and less expensive that the conventional fiat currencies.

Send money anywhere directly without waiting for the bank’s approval

You can send money to anyone in the world directly, and it is super fast. The money gets cleared within a few minutes time. You don’t have to wait for the traditional clearing and verification processes of the banking systems, which might take up to several days to get a clearance. Since it is decentralized and doesn’t come under the law and regulations of the government, nobody has any power to do anything with your account.

The blockchain technology has a very big role to play

Thanks to the crypto currencies, that gives us the power and the authority to become our very own bank, and take control over our finances. It is because of the blockchain technology that offers a higher level of sophistication while dealing with the finances. In fact, there are some mainstream financial industries that have started incorporating the idea of the technology.