This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

3 Things You Should Know About Small Business: March 27

NEW YORK ( MainStreet) -- What's happening in small business today?

1. Here's how to decide if working from home is best for you. Launching a business isn't easy, but franchising tends to take the unpredictability out of the equation by supplying a proven method of success (if followed correctly). Now an increasing number of franchises can be launched and operated from the comforts of your home. Finding the "holy grail" of business ownership is discovering a "legitimate, low-cost, home-based business opportunity," according to MSN's Business on Main.

So what should franchisees know before investing in a home-based business? First, while the cost is certainly lower, start-up expenses are, on average, between $25,000 and $60,000, and even more if there is a lot of equipment involved. It's still hard to get financing for start-ups so be prepared to cover initial investments yourself.

Make sure that a home-based franchise suits your personality and strengths. Leave the administrative work for the home, but take care to meet with clients and do other business outside the home. "If you think you'll spend most of your time at home in your pajamas, think again," says franchise consultant Joel Libava.

2. New York steakhouses struggle with whether to raise prices. Raising prices on entrees is never a good thing in the restaurant world, but with the steep increase in food costs, particularly beef, several New York steakhouses have either raised prices or cut portion sizes, according to The Wall Street Journal .

Restaurants across Manhattan are struggling to adjust to commodities price increases "that aren't going anywhere but up at a time when the industry is still recovering from the effects of the economic downturn," WSJ says.

High beef prices are the result of lower supplies of cattle due to higher feed costs as well as higher fuel prices and an increasing amount of supply being exported, the article says. As a result, restaurants are raising prices, cutting portions or, in some cases, taking more expensive cuts of meat off the menu altogether. Other restaurants are getting more creative with their menus or looking to work directly with farms to manage the cost of beef.

3. Find out six tips for joining a family business. What should you do when you suddenly find yourself immersed in the family business but never thought you'd be there? contributor Elizabeth Browning shares her lessons learned when she came on board to expand her family's 200-year-old stationery business, Crane & Co., into the digital age. Browning's biggest lesson, which was just as important as learning the product or service, was developing relationships. She also worked longer hours and drove herself harder to be "accepted and respected" in her new position.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $123.25 0.00%
FB $83.30 0.00%
GOOG $548.34 0.00%
TSLA $185.00 0.00%
YHOO $45.10 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs