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September 19, 2019

The âHow-Toâ For One Page Business Plans

You have an idea for a new product that you can’t wait to introduce to the market. Or maybe you’re ready to take your freelancing career to a new level by launching your own business. Maybe your situation is a little different, and you’re ready to trade in your 9-to-5 to become your own boss.

Whether you have the next big invention or you’re an aspiring entrepreneur, starting your own business always requires one important detail: a business plan. A business plan works as a blueprint or roadmap for the success of your business.

Does hearing the words “business plan” conjure images of a huge stack of papers filled with graphs, charts, and every single detail of your business? Don’t break out into a sweat just yet. There’s good news: your business plan can be just one page. Yes, you read that correctly.

While there are certainly more complex business plans that you may need to explore at a later time (or perhaps not at all, depending on your business structure), many businesses can get started with a single-page business plan. In this post, we’re going to take a look at why you might pursue a one-page business plan. We’ll break down what you should include in your plan, discuss situations where you may need a more detailed plan, and even share a template that can help you get started.

If creating a business plan seems intimidating, keep reading and we’ll show you how easy it is to get started.

What Is A One-Page Business Plan?

It should come as no surprise that a one-page business plan is exactly what it sounds like: an overview of your business that fits on a single page. This document is used to convey your business idea succinctly, as well as give a brief outline of your goals and how you will reach those goals.

The terms “one-page business plan” and “lean business plan” are often used interchangeably. These two types of business plans aren’t exactly the same. A lean business plan is a more condensed version of a fully detailed business plan and typically uses bullet points and short summaries. A lean business plan may be longer than just one page. On the other hand, a one-page business plan must fit on one page and be written in a legible font size. No 4 point font allowed!

An executive summary is a similar document, but it’s not exactly the same. Many detailed business plans include an executive summary, or it can stand alone. An executive summary provides key details about your business and is usually written out in sentences instead of bullet points. A well-written executive summary may also take up two to three pages.

For this post, though, we are focusing solely on the one-page business plan, when it’s appropriate to use (and when it’s not), and what should always be included. Let’s start off with the basic structure.

The Basic Structure

Business Overview
Objectives
Experience
Target Market
Your Competition
Financial Summary
Marketing Strategy

Remember, keep everything clear and concise to fit all relevant information on a single page. A good rule of thumb is to keep each section to one or two sentences or bullet points.

Should You Use A One-Page Business Plan?

Every business — no matter how big or small — should have a business plan, and a one-page plan is a great place to start. This plan should help provide a basic overview of your business in its early stages. A one-page business plan is one of the best ways to map out the goals for your business and how you plan to reach these goals.

A condensed business plan can also be used to pitch your business idea to potential investors, partners, or customers. While you may need a full business plan later (more on that in a minute), your one-page plan serves as an excellent introduction to your business.

Writing a one-page business plan may also help you when crafting a lengthier plan further down the road. Because a one-page plan must be concise, writing yours should assist you to clearly convey your thoughts and cut down on unnecessary and lengthy wording.

However, there are times when a one-page business plan just won’t do the job. If you have a very complicated business idea or multiple partners, for example, a condensed plan won’t work for you.

If you’re seeking capital for your business, a formal business plan is a more appropriate choice. Banks typically require a formal business plan when applying for a loan. You may also be required to submit a formal business plan for other types of business funding, including Small Business Administration loans, grants, and startup loans.

What You Need To Create A One-Page Business Plan

Ready to get started on your business plan? Before you start tapping away at your laptop, map out everything you need first to make the process quicker and easier. Remember the basic structure we discussed earlier? Let’s break down each section so you know exactly what to include.

Business Overview

In this section, you should first state the problem that you have identified. Then, you will give a brief description of how your business will solve that problem. In other words, what product or service do you offer that will fulfill a need in the market?

Remember, you’re limited on space, so it’s important to get directly to the point without being too generic. You want to make a statement that shows how your business stands out from the rest.

Objectives

For this section, you really need to sit down and think about your objectives for your new business endeavor. These objectives should be a list of the goals you have in starting your business or selling your product or service. Every business has different objectives, so think about what’s most important for you. Do you want to be your own boss? Do you want to provide outstanding service in an industry where service is lacking? Have you set a revenue goal?

Think about short-term and long-term goals for your business and jot your ideas down. Your objectives should be clear, concise, and arranged in a bulleted list.

Experience

This section is used to outline the specific things that qualify you to be a successful business owner. This could include your educational background, industry experience, work history, or even your own experiences as a customer that led to your business idea.

Having a resume on hand can make this section easier. It’s also a good idea to have a resume ready for when you seek funding in the future, as some lenders require this as part of their documentation requirements.

Target Market

In this section, you will provide information about your target market. Who will be your customers? What are the needs of these customers?

More specifically, focus on the following:

Will you sell your product/service to consumers or businesses?
What is your key demographic? Consider factors including age, income, and lifestyle.
Why do these customers need your product/service?
Why should customers buy from you?

To answer these questions, you have to do your research. There are a number of ways to do this, but the internet will be your greatest resource. You can use the internet to create surveys, check out industry studies, and do your due diligence on comparable businesses.

The only drawback is that serious market research costs money that most startups don’t have. For now, keep it simple. As your business grows and you develop a formal business plan, you can explore investing money in your research. For now, focus on free and low-cost methods for learning about your target market.

Your Competition

This section focuses on your competitors — who is your competition? Consider comparable products, services, and/or businesses that offer something similar to what you offer. Do they have any competitive advantages? Perhaps most importantly, what advantages do you provide? What do you offer customers that would make them choose your business, product, or service?

For this section, you can use the market research from the previous section. Again, you want to keep it simple here, but as your business expands and you create a more comprehensive business plan, you may need to invest money in additional market research.

Financial Summary

Now, let’s talk numbers. In your financial summary, there are several important numbers that need to be listed. The first is your startup costs. If you haven’t launched your business yet, you may not have exact figures — after all, you always have to expect the unexpected — but make sure to do your research to get solid estimates.

You will also need to figure out ongoing costs to operate your business. This could include a lease or mortgage, marketing expenses, hiring and training employees, payroll, insurance, and other expenses.

Finally, the last number you need for this section is your revenue. How is your business going to be profitable? What are you going to charge for your product or service? How many customers would you need to meet your revenue goals? You may already have an idea in mind, but you can research comparable products or services to make sure your pricing remains low enough to be competitive but high enough to bring in a profit. If your business is currently in operations, you can review your bank statements and other financial documentation.

Marketing Strategy

By this point, you should know how much revenue you need to be profitable. Now, it’s time to think about how to get that revenue by writing down your marketing strategy.

Remember, this is a one-page plan, so you don’t have to list out every single detail. If you plan to grow your business, this is something you will need to explore further in the future. For now, though, there are a few things to keep in mind.

The first thing to figure out is your budget. There are lots of free and paid marketing tools available. As a new business, start with free and low-cost marketing methods until you figure out what works. Once you’ve had a chance to test out different strategies, you can always invest more in the future. Don’t forget to add this estimate into your business costs.

Next, consider what your competitors or similar businesses within the industry are doing. In your eyes, which methods have been successful … and which have been total flops? You also want to think outside of the box here. While it’s certainly okay to do things your competitors are doing (such as advertising on social media), you also want to come up with unique ideas that make you stand out from the competition.

One-Page Business Plan Template [Download]

With everything involved with launching your own business, even something as simple as creating a one-page business plan can be completely overwhelming. If you don’t know where to begin, don’t worry — we have you covered. Check out our one-page business page template.

Get Our One-Page Business Plan

This easy-to-use template can help you get started on the right track. With our template and the tips in this post, you’ll be able to create a professional one-page business plan in no time!

You’ve Created Your Business Plan. Now What?

Congratulations! You’ve created your one-page business plan. Now, it’s time to put that business plan to use.

If you haven’t yet launched your business, you can use your business plan as a road map to get started. You have your goals in place, you’ve started to calculate your expenses, and you know how much money your business needs to make to be profitable and successful. It’s time to take the first step toward reaching these goals and getting your business off the ground.

You can also use your business plan to pitch your business idea to investors or partners. However, be aware that a formal business plan is often needed when seeking capital (i.e. getting a bank loan). Remember, this one-page plan is a great starting point that can give you practice in clearly and succinctly communicating your ideas.

Ready to get started? Check out the following resources for more help in launching your business:

Small Business Startup Loans: Your 8 Best Options
SBA Loans For Startups: Types, Terms & How To Apply
How Much Money Do You Need To Start A Business?
Everything You Need To Know About Small Business Payroll
How Health Insurance Works For Businesses With One Employee

The post The âHow-Toâ For One Page Business Plans appeared first on Merchant Maverick.

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September 17, 2019

Everything You Need To Know About eCommerce Payments

It’s hard to beat the convenience of selling products over the internet.Â Not only do you not have to worry about paying the overhead costs of a brick and mortar store (unless you want to), but you can sell to customers that live far from your local market.

If your experience taking electronic payments has been limited to swapping cash with friends via Venmo, you’ve probably got a lot of questions about how to get started. In truth, it’s probably both more and less complicated than you think.

So let’s dive in and try to teach you everything you need to know about eCommerce payments.

1. There’s No One-Size-Fits-All Solution

First, some disappointing news. There isn’t one single “correct” way to handle eCommerce. The right payment processing solution will depend upon a number of factors. Take a business website, for example. Do you currently have one that you’d like to start selling products through? Or are you content to use a premade shopping cart template? If you’re a relatively technical person, you can integrate solutions into your site with software APIs or plugins. If you’re not, you’ll probably want to consider a service that provides that functionality upfront. While you can potentially save money doing it yourself, you’ll need to make sure that you’re keeping your customer’s information secure and reducing your own liability.

You’ll also want to consider the nature of the payments you’ll be accepting. Are your customers just buying a product one-off, or are they subscribing to a service that will require recurring monthly payments?

And of course, you’ll need to take stock of your budget and figure out how much you’re willing and able to spend on payment processing and any additional software services.

2. You Need A Payment Processor And A Gateway

A common point of confusion for people new to eCommerce is that there are actually two components to taking payments online. You need both a payment processor and a gateway. These services may be offered together as a package (PayPal, Square, and Stripe, for example) or separately. If you do end up going with a payment processor that doesn’t include gateway access, you’ll need to get it from a separate service like Authorize.net.

A payment processor provides an account that allows your business to accept credit cards and receive credit card payments. It’s also used to deduct fees and processing charges associated with the transaction. After the payment gateway successfully processes a transaction, your payment processor receives the information.
AÂ payment gatewayÂ stands in for what would be your point of sale (POS) interface in a brick-and-mortar transaction. It allows you to securely process payments online by relaying the transaction information from your site to the processor, which then requests the payment from the customer’s bank before releasing funds to you. A payment gateway is also responsible for most of the security features associated with online payments as well as offering services like recurring payments and a credit card vault.

Types Of Payment Processors

Because nothing is ever simple in the world of payment processing, you won’t just need to think about getting a payment processor, but what type of payment processor you need.

The safest option is to go with the tried-and-true merchant account. Think of your merchant account as a holding area where all the busy work of receiving a credit card payment happens. Unlike, say, a business checking account, you don’t have direct access to your merchant account or the ability to directly make deposits and withdrawals to it. Instead, it automatically transfers payments to your business bank account, typically a day or two after receiving the transaction.

Merchant accounts are generally stable and you’re unlike to encounter holds, freezes, or terminations unless you have a sudden spike in chargebacks. Because of the underwriting process, merchant accounts are somewhat slow to establish–you’re probably looking at three days or so to get it up and running, though if you are negotiating or your business is particularly complex, it could take longer. The biggest drawback is that they often have minimum credit card transaction thresholds you have to meet; $5,000/month is typical but some expect you to handle at least $10,000/month in credit card sales. Pricing models with merchant accounts vary, and not all of them are great. We recommend interchange-plus pricing because it’s the most transparent and easiest to compare.

So what do you do if your new business isn’t doing that kind of sales volume?

You can turn to a third-party processor (aka payment services provider). Instead of having your own, unique merchant account, a third-party processor puts you in a pooled account with other merchants, from which fees are deducted in a similar manner to the merchant account. Signing up for a third-party processor is typically faster and easier than for a merchant account (you can start accepting payments the same day), but puts you at greater risk of account holds and terminations. Still, they provide an entry point for new businesses, or established ones that want more predictable pricing. Most third-party processors use a flat-rate pricing model where you’ll pay the same fee regardless of the card type; for eCommerce, that rate is commonly 2.9% + $0.30.

3. You Can Accept More Than Just Credit Card Payments

While credit and debit cards will probably make up the bulk of your eCommerce transactions, they aren’t the only way to make payments online.

It seems like every few years a new tech company rolls out their own digitalÂ wallet. We’re talking about services like Apple Pay, Google Wallet, PayPal, Venmo, and Cash App that allow you to link one or more payment sources to a single app account. In person, mobile wallets (a type of digital wallet that lives on your phone) allow you to make near field communication (NFC) purchases at terminals that allow tap-to-pay. In most cases, mobile wallets directly debit a linked credit or debit card while other digital wallets tend to store a balance, which can be used to make payments or be deposited into a bank account.

Many of these services can be used to make payments online as well. If your payment gateway doesn’t support mobile payments out of the box, it probably won’t be that big a deal since the customer can still just pay with the card attached to their mobile wallet. But if you want to go ahead and support mobile payments, you may have to add some code to your store.

The other type of payment you may want to think about isn’t cutting edge. In fact, it’s been around since the 70s: the automated clearing house (ACH). ACH transactions cut out the credit card company middleman and instead establish direct transfers between bank accounts. ACH payments can be one-time transactions, but if you’re using them in a retail context, you’re probably more interested in using them for recurring payments.

ACH is a bit more laborious to use at the point of sale than credit/debit cards, but it is a much less expensive way to process transactions and less prone to fraud and chargebacks. Most payment processors don’t offer ACH support by default, but a number do offer it as an add-on. Failing that, you may need a supplemental service.

Do You Want To Sell Globally? Prepare To Pay More

The internet is a miracle of the modern age, connecting people together and granting you easy access to markets abroad! Right?

While it’s true that you canÂ theoretically sell anywhere in the world, it introduces some additional complexities. For starters, there’s the matter of different currencies. Someone’s got to turn those euros into dollars! Some service providers, like Stripe, will handle currency conversions for you. Keep in mind that this service will usually come at a premium; in the case of Stripe, you’re looking at an additional 2% charge on your transaction.

And of course, you might want to convey the price of your goods to customers in their local currency. This feature usually goes hand-in-hand with automatic currency conversion, but you might need to enable this feature if you want to attract global buyers.

You’ll also need to take local taxes, customs, and duties into account, which means familiarizing yourself with foreign concepts like the value-added tax (VAT), which is used in Europe, Canada, South America, and Africa, as well as China and India. Here again, there are services that can take care of most of this complexity for you, but be prepared to pay for the privilege.

4. You Need To Be PCI Compliant

If you’re doing eCommerce, you’re going to be handling people’s money, and that means security concerns. And yes, yet another acronym.

The Payment Card Industry (PCI) has established a set of guidelines called the PCI Data Security Standard (PCI DSS) designed to minimize the risk of data being compromised by bad actors. So far so good, but PCI compliance is complicated by the fact that it’s actually a set of four different standards. The standard that applies to you is based on the number of debit and credit card transactions you process annually. Risk level four is considered the lowest risk, while risk level one is considered the highest. The fewer transactions you process, the lower risk you are unless there’s a data breach, at which point you’ll probably be considered risk level one regardless of your volume.

It gets a bit complicated, but what this means in practical terms for you is that you want to make sure your payment processor is PCI compliant and that you’re following the guidelines laid out by your PCI-compliant payment processor.

Payment Security Is Important

It can be a headache, but payment security will ultimately help protect your business and save you from costly chargebacks and account freezes. EMV chips have helped to reduce in-person credit card fraud, but unfortunately, that means online transactions are the new low-hanging fruit for fraud.

In addition to maintaining PCI compliance, security features like AVS (Address Verification Service) and CVV (Card Verification Value, that short number you’re asked for sometimes) provide extra layers of verification would-be fraudsters have to work through. Programs like Visa’s 3D Secure are also constantly evolving to make the changing payment security landscape.

How To Find An eCommerce Payment Provider

Got all that? eCommerce payment processing has a lot of moving parts that can confound even the tech-savvy. Having a sense of the functionality you need in advance will make it much easier to select a payment processor and gateway that can handle the transactions your business depends on. But you should also keep in mind how much of a budget you have for the monthly services required to keep your eCommerce setup running, what you can expect to pay for payment processing, and whether you’re going to need some technical assistance in building out your system.

If you’re ready to get started, we recommend checking out our list of the best online credit card processors. This will give you the rundown on some of the best options in the industry. If you want to learn a bit more about online payments before you get started, our article How To Choose An eCommerce Merchant Account is another great resource.

The post Everything You Need To Know About eCommerce Payments appeared first on Merchant Maverick.

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September 16, 2019

What Is Shopify Pay And Why Does It Matter For Merchants?

If you use (or are considering using) Shopify as your eCommerce platform, you probably have a vested interest in the customer experience during checkout. How can you guide potential customers through the payment process faster and keep the sale? How can you encourage a repeat sale? That’s where the Shopify Pay button comes in.

Shopify Pay is another payment button to add to your checkout process, but what’s behind it? Shopify Pay is powered by Stripe â the behind-the-scenes processor that powers huge brands including Lyft, Under Armor, and Target. It’s not a small potato by any means. Shopify began as a tool to help merchants get their wares online, but with Stripe powering its payment processing, the ecosystem is growing. Shopify now offers multi-channel sales support, invoicing, and even a full POS system for your storefront, among other things.

But before you opt for Shopify’s solution and add a new shiny button to your checkout flow, you probably have some questions. In this post, we’re going to cover the basics so you can make an educated choice about Shopify Pay for yourself.

What Is Shopify Pay?

Shopify Pay is an option you can provide your customers at checkout that lets them save their credit card, shipping, and billing information. In this way, Shopify Pay is an accelerated checkout flow that rivals other third-party checkout buttons like Amazon Pay, Apple Pay, Google Pay, and PayPal One Touch.

Once your customer opts to check out through Shopify Pay, their payments information is saved for future use at your shop and any other Shopify store they visit. In the example below, shoppers can pay via Shopify Pay, Apple Pay, and PayPal.

Screen Capture of Shopify Pay Checkout Example

Any of these accelerated checkout options must be enabled in your payment settings for customers to see these as choices during checkout. Keep reading, and we’ll explore how to get Shopify Pay in your checkout flow as well as more of the nuts and bolts behind what makes this a unique option that you may want to consider.

How Does Shopify Pay Work?

Let’s look at how Shopify Pay works from the perspective of a shopper.

For your customer, Shopify Pay is very straightforward. By clicking on the Shopify Pay branded button at checkout for the first time (see the blue button in the image above), the shopper enters in all of their shipping, billing, and credit card information as usual. The key difference is that your customer has the option to save their information for a speedier checkout next time they visit you.

Shopify Screen Capture of Opt-In Flow for Shopify Payments

After entering their mobile number and linking their account this first time, your customer is all set with Shopify Pay. That means that the next time they visit you (or any other Shopify store) using their device, Shopify Pay whisks them directly to the order review page, where they click “Authorize Purchase”. Here, shoppers bypass entering in all of their information, and they only need to enter the unique 6-digit code that Shopify sends via SMS text message to their phone. After entering the digits on this one form, their order is complete.

If you decide you want to add this button to your checkout, the good news is that it’s fast, and you don’t need any technical expertise to do so.

Enabling Shopify Pay On Your Site

You can enable Shopify Pay just like you would any other third-party options like Apple Pay, Amazon Pay, etc. Head back into Settings at your dashboard, then select Payment Providers. Once there, go to the Shopify Payments section and select Manage.Â

Next, you’ll select Shopify Pay in the Accelerated Checkouts section. Make sure you save your changes, and then you’re all set.

Once you enable this or any other new payment button, your customers will be able to choose the payment method that they fancy most!

In case I lost anyone over the Shopify Payments and ShopifyÂ terms, let’s clear up any confusion, and then take a moment to decide if Shopify Pay is a good option for your business or not.

Shopify Pay VS Shopify Payments

It’s important to understand that when we talk about Shopify Payments and Shopify Pay, we are talking about two different options, especially from your customer’s point of view. As we’ve already explored in the sections above, Shopify Pay accelerates future checkouts by allowing your customers to save their information, including their billing address and payment information. In contrast, you can think of Shopify Payments as the default checkout option that allows you to take payment from your customers. Shopify Payments takes shoppers through the full payment flow with no option to save payment information for future use.

Shopify Payments appears as the unbranded Checkout option in the screen capture below. Shopify Pay is the branded button with the shopping bag logo.

Screen Capture of Shopify Pay Checkout Example

Note that if your checkout doesn’t require a shipping address, then your customers won’t be asked to opt into Shopify Pay. The other thing I want to stress here is that even if you enable Shopify Pay, your customer isn’t forced into saving their information for an accelerated checkout. They can always opt to go through the full checkout flow and complete the order. Shopify Pay is just another option to give them.

Why Shopify Pay Can Be Great For Merchants

If you’re not sure whether or not you want to add Shopify Pay, consider a new angle we haven’t explored in this post quite yet: payment security. Because Shopify Payments utilizes SMS text verification with a mobile number, you get a security boost. While payment information breaches make the news fairly regularly these days, the added layer of security offered by Shopify Pay can benefit the merchant and the shopper through the linked phone verification step. Shoppers get to bypass entering in all of the standard payment information while creating a more secure transaction. As a bonus for you as the merchant, this authentication method can also make it more difficult for a shopper to claim they never ordered your product.

Another great thing is that Shopify takes care of payment security, and you don’t have to jump through hoops to get it â no technical expertise is required.Â From this perspective, Shopify Pay seems like a well-rounded choice that’s easy to enable (and disable) if you see fit. That being said, there is no one-size-fits-all solution, and IÂ also whole-heartedly recommend reading our full Shopify Payments Review to find out if the Shopify Pay is the right payment platform for your type of business overall. And if you haven’t yet landed on an eCommerce platform yet, there is still a lot to consider, isn’t there? Check out our full Shopify Review to find out more about all of the features, pricing, and other important things to consider.

If you are considering adding Shopify Pay to your existing Shopify storefront, rest assured that there isn’t really a downside to adding this checkout button. In fact, you may just find that your repeat customers visit you a little more frequently because it’s easier to buy, and that’s definitely worth a second look. In the very least, testing checkout options is a smart move to make. Do you have experience with Shopify Pay? We’d love to hear how it’s working for you.

The post What Is Shopify Pay And Why Does It Matter For Merchants? appeared first on Merchant Maverick.

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August 30, 2019

Current Rates For Small Business Lines Of Credit

You’ve compared different types of financial products. You like the convenience and versatility of a small business line of credit. You’re almost ready to apply, but you need one piece of crucial information: how much is this going to cost you?

While you won’t know for sure until you finally get an offer from a lender, it is possible to get a general sense of the rates you’ll encounter. Remember that there will always be outliers; lenders offering rates better or worse than the average.

Below, we’ll look at some of the small business line of credit rates offered by popular online lenders. We’ll also take a look at how lenders arrive at their rates and what you can do to increase your chances of getting a good one.

Current Rates For Popular Business Lines Of Credit

Here are the current business line of credit rates for some popular lenders:

Lender	Rate
OnDeck	11% – 57.9% APR
Kabbage	24% – 99% APR
BlueVine	15% â 78% APR
Lendio	8% â 24% APR*
Wells Fargo	6.7% and up APR
SBACapline	7.25% â 12% APR

*Note, as an aggregator Lendioâs rates may vary based on the lender you are matched with.

Note that although this is an example of the rates you might receive, business line of credit rates can vary enormously; even two different LOCs offered by the same lender may fall within a huge range. Still, it can be helpful to have an idea about how much you might be charged.

Making matters even more complicated, many lenders (the ones who do disclose their rates at all) don’t always use the same measurements. Interest rates may be listed annually or monthly. You may be quoted a factor rate instead of an interest rate. To simplify things a bit, we’ve listed the sample rates below in terms of APR. Note that an APR is not the same thing as an interest rate. It’s a way of comparing the total costs of borrowing between lenders.

How Lenders Determine Your Interest Rate

Before your application ever enters the picture, your lender factors the costs and profit margins to determine the lowest possible rates at which they can lend. For banks, this number is called the prime rate, which is based on the federal funds rate. In practice, you’re unlikely to be lent money at prime; bank rates usually start a percentage point or so above prime. Alternative lenders typically have private investors looking to make a profit by targeting higher-risk customers than banks, so their rates will almost always be higher than those of banks.

When you apply, your credit rating will usually play a very big role in determining what side of the interest rate range your offer falls on. The better your credit, the better your rate (usually). For business lines of credit, they might be checking your business credit score as opposed to your personal score, though you’ll want to clarify that with them.

There are other factors your lender may use to determine your rate, what we affectionately call “the 5 Cs of credit.” They’re trying to assess:

Your Character: An abstract sense of your reputation and trustworthiness. This may include your credit report, but potentially things like how long you’ve been in business and personal references.
Your Capacity: Your ability to repay the loan. This may include looking at other debts you’re servicing and your business revenue.
Your Capital:Â How much of your own money are you putting toward the investment for which you’re seeking funding? This may take the form of a down payment.
Your Collateral: Assets the lender can seize in the event that you default. In the case of secured lines of credit, this may be a physical asset, your inventory, property, or a cash deposit. For unsecured loans, it may be a personal guarantee or a blanket lien.
Conditions: These are the prevailing winds affecting lending broadly; the state of the economy, the prime rate, economic forecasts for your type of business, and the competition faced by your business.

The good news is that most of these factors are things you can do something about. Take character, for example. You could always work on improving your credit rating, but that’s not the only way. Building a good working relationship with a bank you eventually want to lend to you makes you more of a known quantity. Similarly, you can work on your capacity by improving your debt-to-income ratio.

Where To Get Business Lines Of Credit

Business lines of credit are a little less common than business term loans, but they aren’t exactly rare either. Many lenders that offer business loans also offer business lines of credit.

Banks And Credit Unions:Â Almost all banks will offer some form of line of credit, and most will have at least one business line of credit product. Credit unions are less likely to dabble in business lending, but if you belong to one, it’s worth asking. Expect a longer application process and more stringent requirements. The payoff is in the rates. If you have excellent credit, your interest rates may come in just a few points over prime.
Online Lenders: Businesses with less-than-stellar credit, or that need to be approved within a very short period of time, may want to consider an online lender. You’ll be looking at higher rates–8% if you’re really lucky, but double digits should be expected–but also a much more painless application process in most cases. Keep in mind, there’s a huge difference between a reputable online lender and a predatory one, so do your due diligence before you sign your life away.
Small Business Administration (SBA): The SBA doesn’t usually directly lend to businesses; instead, it guarantees loans offered through lenders with which it has partnered. This guarantee helps businesses qualify for rates and amounts that they otherwise wouldn’t. The SBA offers four types of lines of credit through its CAPLines program: working capital, seasonal, contract, and builder’s. Each has specific limitations on what they can be used for and offer credit limits up to $5 million. With rates between 7.5 and 10%, they’re a pretty good deal too. Just don’t expect speed when you’re dealing with the SBA; the time to funding can usually be measured in months.

Final Thoughts

Hopefully, you now have a better idea of the cost of a line of credit. If you want to learn more about the terms and processes involved with business lines of credit, we can walk you through how they work. Ready to apply? Check out our suggested lenders.

Go to our guide on best business line of credit options.

The post Current Rates For Small Business Lines Of Credit appeared first on Merchant Maverick.

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August 30, 2019

7 Ways To Buy A Franchise When You’re Short On Funds

Are you ready to ditch the traditional 9-to-5 and become your own boss using a tried-and-true business model? Is it your turn to become one of over 700,000 franchise owners? You’ve done your research, and you’re ready to put in the work as a business owner. So, what’s stopping you from buying your own franchise? If you’re like many other aspiring entrepreneurs, one big challenge is holding you back. It’s the dreaded F-word: funding.

While buying a franchise is typically less expensive than starting a new business from scratch, there are still one-time and ongoing costs that rack up before you even open your doors to customers. Franchise fees, insurance premiums, inventory, equipment, business licenses, and royalty payments are just a handful of the costs associated with franchising. With initial franchise fees alone costing tens of thousands of dollars, the average person isn’t in the position to simply write out a check or withdraw funds from their own bank account.

The good news, though, is that there are financing options out there that help with the financial burden of business ownership. And even better, many of these options have low interest rates and favorable repayment terms, so purchasing a franchise is more affordable. You may even be able to tap into funds that you already have access to.

In this article, we’re going to explore seven ways to purchase a franchise when you don’t — or think you don’t — have the funds to do so. From government-backed loans to penalty-free withdrawals from your retirement account, we’re going to take an in-depth look at the funding options that can get you on track to buying your own franchise.

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BlueVine is an online lending service suited for small businesses. It offers invoice factoring and line of credit. BlueVine is one of the most accessible invoice factors available and a good choice for B2B businesses.

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OnDeck is a hugely prolific online small business lender and offers two types of business loans: short term loans and revolving lines of credit. Despite potential drawbacks, if you need a fast loan or donât qualify elsewhere, its hard to beat OnDeck.

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LoanBuilder is a small business loan service offered by PayPal. LoanBuilder stands out with flexible terms, low borrower requirements & relatively inexpensive loans. Ideal if your business needs a short-term infusion of capital.

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Franchisor Financing

One of the most appealing benefits of buying a franchise is that sometimes you don’t have to look very far to get financing. In fact, many franchisors across various industries offer financing options for new and existing franchisees. Franchisor financing is a win-win for everyone: the franchisee gets needed capital while the franchise continues to grow with the addition of new locations.

The amount of money and type of financing offered vary by franchise. For example, Weed Man provides up to $40,000 to franchisees that may not qualify for a bank loan. The UPS Store also offers a low-interest financing program to qualified borrowers. Marco’s Pizza offers personal guarantees and assists franchisees in finding funding through sources including traditional and SBA loans.

Like other types of financing, you must be qualified to receive financial assistance through your chosen franchisor. Borrower requirements vary by franchise, but you should expect to have some funds to put into the business and meet any credit requirements.

SBA Loans

If you want long repayment terms and low interest rates, a conventional loan fits the bill. Unfortunately, qualifying for this type of loan is difficult for any business owner — especially one that’s new to the game. The good news, though, is that the Small Business Administration (SBA) makes it easier for people like you to get business loans with competitive rates and terms.

The SBA itself does not distribute loans. Instead, this government organization provides a guarantee on loans provided by banks, credit union, and other lenders, known as intermediaries. Because a large percentage of each loan is backed by the SBA, it’s easier for franchisees and other small business owners to be approved.

There are several types of SBA loans for franchisees, but one of the best is the SBA 7(a) loan. With this loan, you may receive up to $5 million with repayment terms starting at 7 years and going up to 25 years. Funds can be used for a variety of purposes including commercial real estate, equipment, franchise fees, and other startup costs. Interest rates are extremely competitive and are based on the prime rate plus up to 4.75%. Rates are based on the amount and duration of the loan. Learn more about SBA 7(a) loans.

Another SBA loan option is the CDC/504 loan. With this option, a nonprofit Certified Development Company (CDC) provides up to 40% of the amount needed by the franchisee. A traditional lender, such as your bank or credit union, provides up to 50% of the amount. With this option, you could contribute as little as 10% to receive the funding you need.

There are more limitations on how CDC/504 funds can be used. While you can’t use funds to pay franchising fees, you can use this loan to purchase, expand, or update commercial real estate for your franchise. You can also use funds to purchase equipment for your business. CDCs can loan a maximum of $5.5 million with terms up to 25 years. Like SBA 7(a) loans, CDC/504 loans have very competitive interest rates based on the prime rate plus a markup. Learn more about CDC/504 loans.

Although qualifying for an SBA loan is easier than getting a conventional loan, the process can be time-consuming, taking anywhere from weeks to months for approval and funding of the loan. You must also meet all of the requirements for 7(a) loans and CDC/504 loans, including but not limited to having a solid personal credit score, putting up collateral, and meeting the guidelines of a small business as defined by the SBA. You should also be prepared to pay any fees required by the lender, including appraisal fees, service fees, and closing fees.

Home Equity Loans & HELOCs

If you own your own home, you could use your equity as collateral for a startup loan for your franchise. Equity is the difference between what is owed on the property and the value of the property. For example, if your home is appraised at $500,000 and you owe $300,000 on your mortgage, you have $200,000 worth of equity in the property that you could potentially leverage for your business venture. Equity is built up if your home value increases as well as when you pay down your mortgage.

With a home equity loan, you won’t be able to borrow the full amount of equity, though. Most lenders will only give you 80% of the value of your home, less what is still owed. Funds can be used for any purpose, including covering startup costs and franchising fees for your new business.

You may also consider a home equity line of credit, or HELOC. Instead of a lump sum, you have access to a flexible line of credit that is backed by the equity in your home. You’ll be able to withdraw funds as needed up to your set credit limit for a certain period of time. This is known as the draw period and usually lasts one year. After the draw period ends, you enter the repayment period. Since HELOCs are a form of revolving credit, you can reenter the draw period once you’ve repaid borrowed funds.

Competitive interest rates, long repayment terms, and flexible use of funds make home equity loans and HELOCs a good choice for covering the costs associated with buying and operating a franchise. On the flip side, though, your personal property is at risk if you default on your loan.

In addition to having equity in your home, you must also meet the other requirements of your lender. This includes having a high personal credit score, a low debt-to-income ratio, and a solid repayment history.

Rollovers As Business Startups (ROBS)

Another way to get the money you need to buy a franchise is by using funds you already have in your retirement account. Normally, drawing from your account early results in penalties. However, you can avoid these penalties and access your funds in just weeks with a Rollovers for Business Startups plan, also known as ROBS.

Instead of borrowing from a lender, a ROBS plan allows you to use your own retirement funds to start your own business. A new C-corp is established, and a new retirement fund is created. Funds from the existing retirement account are rolled over into the new retirement account. These funds are used to purchase stock in the C-corp, giving you access to the cash you need to build your business.

Qualifying for a ROBS plan is easy — you simply need a qualifying retirement account, such as a 401(k), 403(b), or IRA. You don’t have to worry about having a high credit score, a certain amount of income, or any other requirements needed for other types of funding. Because this isn’t a loan, you also don’t have to worry about paying interest to a lender. The downside, though, is that if your business fails, you risk losing your retirement funds.

While you won’t have to pay interest to a lender or penalties for the early withdrawal of funds, you will need to work with a ROBS provider. For a one-time setup fee, a ROBS provider can help you set up your C-corp and retirement account. You may also need to pay a monthly fee to cover maintenance and reporting on your account.

Ready to leverage your retirement funds to buy a franchise? Learn more about how ROBS can help you launch your new business.

Online Loans

The internet has made it easier than ever to shop for loans to purchase a franchise. Unfortunately, as a startup, you might find it difficult to find a competitive business loan. Lenders evaluate risk by looking at factors such as your personal and business credit profiles, annual revenues, and time in business. If you haven’t yet launched your business or you’re in the very early stages, finding funds with favorable rates and terms can be a challenge.

One option you do have, though, is to take out a personal loan for business. When you apply, you use your personal information — personal credit score and history and annual income, for example — to qualify for funding. That loan can then be used to purchase your franchise or fund other startup costs.

Partnerships

If you don’t have the funds to purchase a franchise, consider bringing on someone who does and forming a partnership. A friend, family member, colleague, or anyone with money to invest can become a partner. Be aware, however, that forming a partnership means that you will be handing over partial ownership of your business. This means that you won’t be the only one making the decisions … or taking the profits.

When you find a business partner, make sure that you work with an attorney to draft all documents and agreements. Having the right documentation doesn’t just protect each partner; it also ensures you remain compliant with Securities and Exchange Commission regulations.

Low-Cost Franchises

If you have some money in savings or another source of funding, shop around for lower-cost franchising opportunities. The big players — think, McDonald’s, Chic-Fil-A, and other established franchises — are typically the most expensive to purchase and operate. Instead, focus your sights on more affordable opportunities that will allow you to break into business ownership.

In addition to finding low-cost startups, you can also look for franchises that offer discounts to new owners. For instance, some franchisors offer discounts on franchising fees to women, minorities, or military service members and veterans. You can kick off your research by checking out our picks for low-cost franchises.

Final Thoughts

Even though buying a franchise is one of the easiest ways to dive into business ownership, finding the right source of funding to get your business off the ground can be a challenge. However, as you can see from the methods above, affordable funding is out there. The important thing is to research all of your options, get creative with your funding if you have to, and choose the option that’s best for your business over the long term.

Interested in learning more about owning a franchise? Check out The Step-By-Step Guide To Buying A Franchise for more information to help you get started.

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July 30, 2019

8 Great Food And Restaurant Franchises To Open In 2019

A lot of aspiring business owners ask themselves the question, “Should I buy a franchise?” at some point. A restaurant franchise is a turnkey business, and while the initial investment can be quite high, your parent company provides you with a proven method for success—as long as you have the time and money to get the wheels turning.

However, you have to be discerning when you choose which food franchise to buy into. Certain franchises are more popular and profitable than others, and you don’t want to choose a brand that’s behind-the-times or not performing as well as its peers. If you have the capital to purchase one of the top restaurant franchises on this list, you will have an excellent chance of success right off the bat. In this list, I’ve compiled some top-performing and up-and-coming food franchises that are excellent investment opportunities in 2019.

Â < $500K Investment

1. Kona Ice

Restaurant Type: Shaved-ice trucks
Initial Investment: Approx. $125K
Number of Franchises: 1,000+
Regions Served: All of United States, and some international
Unique Benefits: Quick startup, low overhead, patented “Flavorwave” self-serve system

Kona Ice is a fast-growing food truck franchise that you have probably been seeing pop up lately at community events, concerts, sports games — you name it. With your first bite, it’s obvious that this Hawaiian-style shaved ice is not your typical “snow cone.” It’s more of a gourmet product that’s both delicious and health-conscious—flavors are vitamin-fortified and sweetened with all-natural stevia and pure cane sugar—making it a hit among kids and parents alike. Moreover, this franchise has very a low barrier to entry, only requiring a $20K cash deposit (Kona can offer in-house financing for the remaining portion of the initial investment).

Kona Ice, which currently ranks #67 on Entrepreneur Magazine’s Franchise 500 list, is currently looking for new franchisees across the United States and worldwide.Â Shaved ice carts, kiosks, and trailers are available. If you think you might be interested in starting a food truck business like Kona Ice, learn about the best financing options for food trucks.

2. Ben & Jerry’s

Restaurant Type: Ice cream shop
Initial Investment: $107,685â$429,300
Number of Franchises: <1,000
Regions Served: All of U.S. & Canada, Europe, Australia
Unique Benefits: Globally recognized brand, relaxed liquidity & net worth requirements, fair & ethical corporate culture

Ben & Jerry’s is a classic ice cream brand synonymous with both quality and fun. Originally founded in 1978, the brand is still going strong today. Customers have always been willing to pay a little more for Ben & Jerry’s premium frozen treats, with their inventive flavors, playful names, and quality ingredients. As is the case with many of today’s most popular franchise brands, Ben & Jerry’s exemplifies socially responsible, sustainable business practices. As such, the brand has a dedicated following and its franchisees stand to make a pretty profit, with a successful Scoop Shop owner easily taking home six figures a year.

Furthermore, Ben & Jerry’s locations aren’t too expensive to open—particularly if you operate a kiosk rather than a full-size ice cream shop—and the company is currently seeking new franchisees in almost every region of the U.S., as well as Australia. Ben & Jerry’s is especially interested in franchisees who are socially conscious and active in their community.

Ben & Jerry’s does not directly offer financing to franchisees, but as long as you have $100K in liquidity and a $350K net worth, the company has no problem with you obtaining a franchise loan from other sources. Depending on whether you are opening a new location or purchasing an existing Ben & Jerry’s, you might also be eligible for a business acquisition loan.

3. Maui Wowi

Restaurant Type: Coffee/smoothie cart
Initial Investment: Approx. $100K
Number of Franchises: 450+
Regions Served: Across U.S., some international
Unique Benefits: Low-cost, mobile business, veteran-friendly

Founded in 1982 and franchising since 1997, Maui Wowi Hawaiian Coffees & Smoothies offers mobile operating units, perfect for selling at events and venues such as arenas, sporting events, and concerts, or at a permanent site that has high foot traffic. This franchise capitalizes on both the coffee industry and the smoothie industry, appealing to consumers looking for a healthy frozen treat or a caffeine fix at a large event, college campus, or busy downtown street corner. Maui Wowi has a place on both the Inc. 500 list of fastest-growing private companies in the United States and Franchise Times’ Top 200 Franchise Systems.

Maui Wowi, currently looking for new franchises located anywhere in the U.S. or internationally, is also unique in that it offers veterans a 20% discount on the franchise fee. Ideal candidates have $40K-$50K in liquid assets, but the company offers optional in-house equipment financing and partners with third-party financing sources to help you come up with the rest of the money for the franchise fee, inventory, and other startup costs. The $30K franchise fee allows you to operate up to three mobile or fixed operating units. If this franchise opportunity appeals to you because you are a veteran, you can also look into small business loans for veterans.

$500K â $2 Million Investment

4. Sonic Drive-Thru

Restaurant Type: Drive-in/drive-thru fast food
Initial Investment: Approx. $2 million
Number of Franchises: 3,600+
Regions Served: All of U.S.
Unique benefits: One-of-a-kind “drive-in” experience, boasts the largest fast-food drink selection

Both iconic and trendy, Sonic has been a beloved drive-in/drive-thru fast-food brand since the 1950s, known for its yummy burgers, scrumptious shakes, and to-die-for cherry limeade. In recent decades, however, Sonic has reached new heights of success, embracing both nostalgia and forward-thinking technology. Customers order from and eat in their parked car, while friendly servers deliver orders on rollerskates. You could almost believe you’re in the 1950s—except you’re ordering and paying from a lit-up digital touchscreen POS.

QSR names Sonic as one of the top 50 quick-service and fast-casual restaurant brands, and Entrepreneur Magazine ranks Sonic #8 on its own (top 500) list. Sonic boasted an average net sales per-store of $1,257,000 in 2018, up from $1,072,000 in 2012, noting that the biggest portion of sales come from its endlessly customizable fountain drink selections. Sonic is currently looking for new franchisees throughout the United States, though you should be aware that they require the franchisee have a minimum net worth of $1 million, as well as liquid assets of at least $1 million.

5. Dairy Queen

Restaurant Type: Soft serve/fast food
Initial Investment: Approx. $1.5 million
Number of Franchises: 6,800+
Regions Served: U.S., Canada, and International
Unique Benefits: Leverage a classic American brand dating back to 1940s with 95% consumer brand recognition (according to DQ)

Dairy Queen is a high-performing, time-tested brand that represents tradition and good times. Soft-serve never goes out of style, especially when you have proprietary treats you can’t get anywhere else, like the DQ Blizzard. Also, while most ice cream/soft serve chains stick exclusively to frozen dessert products, Dairy Queen has the distinction of offering hot food at their “Chill & Grill” locations. Fun fact: famously discerning investor Warren Buffet loves DQ, so much that he bought the company in 1998.

DQ ranks #6 on Entrepreneur’s Franchise 500 list and is considered one of the higher-profit fast-food franchises. For owner-operated franchisee locations, the average annual profit is $194,000, while absentee-managed franchisee locations earn an average profit of $117K.

It will cost you at least a cool million to open your own DQ franchise, but unlike a lot of top franchises, single-unit domestic opportunities are available. New franchisees only need liquid capital of $400K and net worth of $750K, which are more relaxed terms compared with some other top food franchise brands. Also, DQ does not require you to have prior restaurant management experience, as long as you hire someone (or partner with someone) who does.

6. MELT SHOP

Restaurant Type: Elevated fast-casual
Initial Investment: Approx. $500K
Number of Franchises: <10 (with 25 new international locations in the works)
Regions Served: U.S. and international
Unique Benefits: Get in on the ground floor of an emerging franchise

Grilled cheese is back in a big way, in case you haven’t noticed, and MELT SHOP is part of the “upscale grilled cheese” trend currently manifesting in hip neighborhoods everywhere. New York-based MELT SHOP only recently started franchising, but some people are saying this fast-casual chain could be the next Shake Shack or Chipotle (neither of which are currently franchising, unfortunately). MELT SHOP sells melted sandwiches and other comfort food, as well as salads, craft beer, and those trendy little wines in a can. All of these offerings are served in and an elevated fast-casual dine-in experience, with delivery and take-out options. MELT SHOP’s fresh, high-quality ingredients and casual but aesthetically pleasing atmosphere appeals to families and hipsters alike.

MELT SHOP claims that it offers exemplary support and resources to interested franchisees, and though the six-year-old brand is not yet time-tested, it might be worth taking a chance on this up-and-coming opportunity. MELT SHOP estimates an average per-location annual sales range of $1,016,984â$1,640,406, which is not too shabby. The company is looking for franchisees who are experienced in developing multi-unit restaurants, though they may accept single-unit franchisees too.

Multi-Unit Investment

7. Panera Bread

Restaurant Type: Bakery-cafÃ© fast-casual
Initial Investment: Approx. $1 million (per location, with 15 locations minimum)
Number of Franchises: 2,000+
Regions Served: All of U.S. and Canada
Unique benefits: GMO-free, high-profit, meets consumer demand for healthy, socially responsible fast-casual

Panera Bread is a health-conscious bakery-cafe chain that has proliferated across America (and Canada) throughout the first two decades of the 2000s. The brand is known for its health-conscious food and socially responsible practices —think free-range eggs, a GMO-free menu, and community giving campaigns. If you can afford this franchise opportunity, you stand to make high profits—according to Forbes, the average Panera franchise takes home nearly $2.5 million a year.

Panera is a hot opportunity for seasoned restauranteurs who can develop multiple units; the brand is currently only interested in franchisees who will open at least 15 units over a period of 6 years. You will also need to have a net worth of at least $7.5 million and $3 million in liquid cash to become a Panera franchisee. If you are interested in opening a Panera-style business but don’t meet those qualifications, you might think about starting your own coffee house.

8. Darden Restaurants

Restaurant Type: Full-service & fine dining
Initial Investment: The Big Bucks
Number of Franchises: 1,700+
Regions Served: U.S. and international, but currently focused only on international markets
Unique Benefits: Effective corporate leadership, be part of largest American full-service restaurant group

Darden is a large, multi-brand restaurant group that owns a number of popular restaurants, including Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, and Eddie V’s. Some of these restaurants are more on the casual sit-down side, while others can be considered fine dining. What they have in common is that they are almost universally high-performing in recent years, particularly since the company reorganized operations in 2014, adopting a franchise model and ditching Red Lobster from their lineup.

The bad news for most readers is that you will have to have very deep pockets to open an Olive Garden or another coveted Darden Restaurant—currently, they are only looking to partner with experienced, “well-capitalized” partners interested in opening 15+ restaurants in international territory. But if this happens by any chance to describe you, becoming a Darden franchisee could be an extremely lucrative opportunity. Darden is also open to “non-traditional, domestic franchise locations (e.g., airports, campuses, military bases)” and acquisition opportunities.

Final Thoughts

Restaurant franchise ownership can be a smart choice for driven individuals who want to purchase a turnkey business. Franchises don’t run themselves, but with your personal dedication and industry tools such as franchise management software, you can run your food franchise like a well-oiled machine.

If you’ve decided that you want to purchase a restaurant franchise, but don’t have the initial investment just yet, that’s okay. Many franchises will let you finance part of the purchase cost, whether through an in-house financing program for franchisees, or through a franchise loan you obtain from a bank or an online lender. There are also SBA loans for franchises, so be sure to check whichever franchise you’re interested in against the SBA franchise list to see if you’re eligible for SBA financing.

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July 27, 2019

8+ Google Sites Examples for Inspiration

So you’re considering Google Sites as your website builder, and you’re looking for Google Sites website examples for inspiration and confirmation that you’re making the right choice.

Google Sites is Google’s free website builder software that it offers as part of the G Suite of Drive, Email, Hangouts, etc. It’s a template-based website builder, which means you have a set of templates that you can customize to a certain extent.

It makes nice designs incredibly accessible for DIY-ers while leaving the heavy-lifting (AKA hosting, functionality, coding) to someone else.

I wrote a full review of Google Sites here. It’s free, even for everyday users. If you are logged into your Google Account, you can start a Google Site here.

But before we dive into examples of what Google Sites look like in the wild, there is one thing to keep in mind when you’re evaluating a website platform: it’s not just about how the websites look. The functionality matters too.

Think of it like buying a car. You have a make / model in mind, and you’re probably looking to see them drive by on the road to see how they actually look. However, you also care about how they operate. Does it accelerate well? Does it have the hauling capabilities you need? How is the gas mileage?

Looking at a website platform should be done in the same way. We collected the following Google Sites examples not just to show you how they look, but how they can function so you can be sure you have a website that fits both the style you want and the functionality you need.

Disclosure – I receive customer referral fees from companies mentioned on this website. All data & opinions are based on my professional judgement as a paying customer or consultant to a paying customer.

General Website Example

Let’s start with a general round up of solid Google Site website examples. We’ve pulled these examples based on functionality, design, and usability.

Again, Google Sites works incredibly well for DIY-ers who want an easy-to-use website that they can throw up on their own without having to worry about the inner-workings, and who aren’t worried to much about adding any frills. However, be aware that with this comes trade-offs (i.e. you give up some control, functionality, customization, design capabilities etc.)

Keyingredient

Keyingredient’s website is a great example of how much content you can include on a Google Sites website, and how you can organize it. For websites that need to categorize content (like this recipe website, blogs, news sites, or portfolios) the card layout is an easy way to organize and showcase your top content without making the page overwhelming.

The website also allows visitors navigate directly to the content clicking on the image, which takes you to a full page on that specific recipe. If you’re needing a straightforward visual design with basic click-through functionality, use this example for inspiration.

Education Website Example

Education websites are a great way to provide course information, have a live syllabus, or even create a community for your class. Here’s a great example of what you can do with a Google Site education website:

Mr. Rees’ Social Studies Classes

This social studies website is a great example of how you can use Google Sites to organize information for students.

Check out the detailed menu on the side that breaks down lessons. Students have access to notes, instructions, and assignments all in one place for each lesson for each class. It’s an organized and efficient way to keep resources all in one place.

Photography Website Example

Photography websites are all about the portfolio of work. When looking for a Google Site example to serve as inspiration for your photography, pay special attention to the layout options for your work. You want to be sure you’re showing off your photos in a creative way without sacrificing the user experience (AKA fast photo load speed, easy to navigate, high quality images, etc).

JSVFOTO

When you have multiple segments in your photography portfolio, organization is key. This Google Sites photography website example is a great example of a clean, organized way to display your portfolio categories while also implementing an overall navigation that encompasses other areas of your work (i.e. reviews, novels, etc.). If you’re looking for a simple design that has a lot of versatility in showcasing your work, this website is a good one to follow.

Church Website Example

Church websites are all about telling people about your congregation, beliefs, and helping visitors feel welcome before they ever step in the door. Here’s a great example of a Church website build with Google Sites.

Morton Park Hall

What stands out about Morton Park Hall’s website is how clear the navigation is. It’s incredible easy to find information about what they believe, how to find them, and even to contact them. This site hits on all of the core functionality a church website should have, and organizes it intuitively, making it easy for newcomers and current congregation members to find exactly what they’re looking for.

Here’s a related post covering *only* church websites.

Business Website Examples

A strong business website showcases your services, gives customers the opportunity to contact you, and builds social proof. Visitors should be able to know exactly who you are and what you do when they land on their site, and should be able to easily navigate to what they’re looking for from your homepage.

PCS

What stands out about PCS’s website is that while it uses a typical grid-style layout that most Google Sites use, the brand colors and icons make this website look and feel completely unique. This site is a great example of how to take a simple website layout and make it look polished and professional without having to create something entirely from scratch.

Flanders Hotel Bruges

Flanders Hotel Bruges’ website is another great example of a business website that uses a simple design to look polished and professional. Notice how they use their awards to build credibility as soon as you arrive on the homepage. This, combined with high quality photography of the hotel and Bruges helps the hotel position itself as trustworthy and the right choice for visitors in the area.

Petits Gâteaux

Petits Gâteaux is a great example of a Google Sites website for a local business. Notice how the header image includes the logo and a scalloped design, giving the overall site a unique and fun feel without having to create and entire custom or complex site. We also loved how this local business included high quality photos of their pastries right on the homepage, giving customers an idea of what to expect right off the bat.

Personal Website Example

Personal websites are exactly what they sound like… personal! Whether it’s a resume / portfolio website you use to get booked or a blog you use to create content, this type of site is all about getting your personal brand online and owning your space on the Internet. Personal website should be easy to edit, manage, and customize.

Andy Wolber

With personal websites, it’s easy to get caught up in showcasing your personality and creativity. And while adding in some flair is fine, you don’t want to sacrifice clarity in the name of creativity. Andy’s website is a great combination of both. Featuring his tweets on the homepage is unique, and the clean layout makes the site easy to navigate. If you’re looking for an easy way to put your work, experience, and thoughts out into the world, this layout does the trick.

Next Steps

At the end of the day, choosing your website platform goes far beyond design. Why? Because all web pages are made of HTML & CSS with a few scripts thrown in. This means that any website template can exist on any good web platform.

What YOU want to focus on is the design elements and functionality that are available on the platform you’re choosing.

If you feel like Google Sites fits the design and functionality needs you have for your website, you can get started with Google Sites here.

Not sure if Google Sites is a right fit? Explore other good website builders here.

The post 8+ Google Sites Examples for Inspiration appeared first on ShivarWeb.

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July 15, 2019

Maryland Small Business Loans

One of the wealthiest states in the nation, Maryland is considered one of the best U.S. states to live and work in. Being one of the 13 original colonies, Maryland is also among the nation’s oldest states; however, that doesn’t mean it rejects the new. Its largest city, Baltimore, was named by Forbes as one of the “Top 10 Rising Cities for Startups” in 2018, and Governor Larry Hogan recently described Maryland as being among “the top states in the country for entrepreneurial business growth,” touting the success of his administration’s “Open For Business” initiative.

Maryland’s proximity to Washington D.C. is an advantage for small businesses that are eligible for federal contracts, and its GDP is well above the national average. Maryland ranks second per capita and fourth overall in Small Business Innovation Research Program (SBIR) awards. Maryland also has a growing and highly educated workforce, meaning there is a great selection of talent available for hire.

While Maryland presents a lot of opportunity for businesses, it is not without its downsides. Maryland can be a costly place to run a business, when you take into account the state’s high rent, high business taxes, and high labor costs. If you’re not one of Maryland’s independently wealthy (though MD does have a disproportionately high number of such residents), it can be a struggle to obtain enough startup capital to open a new business in Maryland, or to keep your existing small business afloat in the face of high operating costs.

For Maryland entrepreneurs who need a business loan, I’ve put together this resource with the best loans for Maryland small business owners. These include the best online loans, bank loans, grants, and other small business resources. I highly encourage you to read on if you are a Maryland entrepreneur in need of business financing.

Online Business Lenders For Maryland Businesses

Online business loans are the quickest and easiest way Maryland business owners can obtain business financing. Though these loans typically have higher borrowing fees and shorter repayment terms compared to a traditional bank loan, their convenience makes them worth it for some business owners—particularly for business owners who need capital ASAP or who can’t qualify for a loan from a bank or credit union. If you have a newer business or less-than-excellent credit, an online loan is likely your best financing option.

Read this section to learn about some of our favorite online lenders that extend loans to businesses in Maryland.

Lendio

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Time in business: 6 months Business revenue: $10,000 per month Personal credit score: 550 Borrower requirements (click to expand) Hide

Best For…

Exploring various online loan options

Lendio is an online loan aggregator, aka a loan marketplace, where businesses in all 50 states can search for and apply to multiple online loans with a single application. Lendio does not originate loans, but rather, they will connect you to their lending partners that meet your needs.Â It’s a good place to start if you’re not sure how much financing you might qualify for or which type of financing (bank term loan, short-term loan, line of credit, merchant cash advance, etc.) would best suit your business needs.

Lendio’s borrower qualifications vary since they work with a wide range of lenders, but Lendio recommends applicants meet the following minimum borrower requirements:

Time in business: 6 months
Credit score: 550
Business revenue: $10K/month

We like Lendio for the excellent lenders they work with and the broad range of business financing products they provide access to, from short-term loans to long-term SBA loans, and many others in between. Lendio can connect qualified borrowers with loans as large as $5 million and, the average time to funding is 2â7 days.

Breakout Capital

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Must be in business at least 12 months with a revenue of $10,000 per month. Must have a personal credit score of 600 or above. Borrower requirements (click to expand) Hide

Best For…

Businesses with fair credit and/or unpaid invoices

Breakout Capital, also available to businesses in all 50 states (and D.C.), is a short-term lender that distinguishes itself by being transparent and reputable in a sea largely made up of unscrupulous, predatory lenders. Their terms and rates are clearly disclosed and they have excellent customer service in case you have any questions.

Breakout’s financing products include short-term business loans up to $250,000, and FactorAdvantage invoice factoring loans up to $500,000. FactorAdvantage loans are a combination of invoice factoring and Breakout Capitalâs business loans. Breakout loans are flexible in that they act similar to a line of credit, making it easy to borrow more capital after you repay your first loan.

To qualify for a short-term business loan with Breakout Capital, you need:

Time in business: 1 year
Credit score: 600
Business revenue: $10,000/month

Regarding FactorAdvantage, because this loan is designed to be used in conjunction with invoice factoring services, Breakout Capital does not require any specific time in business, revenue, or credit score. Funds are typically received within one business day after the final closing contracts for the loan are signed.

AMEX Business Loans

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Time in business: 24 months Business revenue: $50,000 per year Personal credit score: Good to excellent Other: Must accept Amex cards or have an Amex business credit card (depends on the type of financing you are applying for) Borrower requirements (click to expand) Hide

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Best for…Â

Established businesses that use or accept American Express

American Express Business Loans are available to businesses in all 50 states. They are not pricey credit card advance loans, but rather, they are actual term loans, including both short-term and medium-term loans. You do, however, need to either have a business AMEX card or accept AMEX cards at your business in order to qualify.

AMEX loans are convenient, fast, and reasonable in terms of their terms and fees. Depending on which loan you apply for, you can qualify for financing up to $50K (medium-term “Business Loans” product), $750K (short-term “Working Capital” loan), or $2 million (short-term “Merchant Financing” loan, similar to cash advance). The time to funding is typically about 2 days.

To qualify for AMEX business financing, you’ll need the following requirements:

Time in business: 2 years
Credit score: N/A
Business revenue: $50K/year

Youâll also need to be an American Express business credit card holder for Working Capital and Business Loans. For Merchant Financing, youâll need to accept American Express cards. Depending on the product, you may also need to do at least $12,000 in card-based sales annually.

OnDeck

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Time in business: 12 months Business revenue: $100,000 per year Business industry: Must not be in aÂ restricted industry Personal credit score: 600 Borrower requirements (click to expand) Hide

Best For…

Semi-established businesses with fair credit

OnDeck is the largest and probably the most well-known online small business lender, offering short-term loans and revolving lines of credit to eligible businesses in all 50 states. OnDeck is a hugely prolific, publicly traded company that has relatively few negative complaints considering their enormous footprint. Like the other online lenders on this list, OnDeck has the advantages of being fast, convenient, and willing to lend to businesses that cannot qualify for a bank loan. OnDeck offers short-term loans up to $500K and lines of credit up to $100K.

Here’s what you need to qualify for an STL or LOC from OnDeck:

Time in business: 1 year
Credit score: 600
Business revenue: $100K/year

Average time-to-funding with OnDeck isÂ 1-2 days.

LoanBuilder

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Time in business: 9 months Business revenue: $42,000 per year Personal credit score: 550 Borrower requirements (click to expand) Hide

Best For…

Newer businesses with bad credit

LoanBuilder is actually part of PayPal’s business loan arm, but unlike PayPal Working Capital loans, you do not need to be a PayPal business in order to qualify for a LoanBuilder loan. In fact, you need very little in terms of qualifications to qualify for a LoanBuilder loan—businesses with less than a year in business and sub-600 credit scores can qualify.

LoanBuilder offers short-term loans up to $500K, with no origination fee.

An interesting benefit of LoanBuilder is that you can tinker with your loan amount and repayment term to “build” your own perfect loan before accepting the loan offer.

Here’s what you need to qualify for a LoanBuilder loan:

Time in business: 9 months
Credit score: 550
Business revenue: $42K/year

Funding can be as fast as the next business day after you turn in all your documents and sign the contract. As with the other lenders on our list, LoanBuilder serves all 50 states.

Prosper

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Time in business: N/A Business revenue: N/A Personal credit score: 600 – 680 Personal income: $20,000 LendingPoint does not operate inÂ Colorado, Connecticut, Iowa, Louisiana, Maine, Maryland, Massachusetts, Nevada, New York, North Dakota, Rhode Island, South Carolina, Vermont, West Virginia, Wisconsin, and Wyoming Borrower requirements (click to expand) Hide

Best For…

Small startup loans

Prosper is a personal loan option available to borrowers in Maryland (and all other US states, except Iowa and West Virginia). Because these are personal loans, you can use them for almost any purpose you like, including to fund a business. You also don’t need any business qualifications in order to qualify for a Prosper loan, making this option suitable for startups, even if your business is only in the idea stage. You will, however, need to have at least fair personal credit.

Prosper sells term loans from $2Kâ$40K with monthly repayments. Though you can’t get a large loan through Prosper, the monthly repayments are a refreshing attribute, as most other online loans require daily or weekly repayments.

To qualify for a Prosper loan you’ll need:

Time in business: N/A
Credit score: 640
Business revenue: N/A

Usually, the time it takes from application to funding is a week or less. However, because Prosper has a peer-to-peer model wherein investors choose which loans they want to fund, it can take up to 14 days for investors to decide if they will fund your loan.

SmartBiz

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Must be in business at least 2 years. Must have a personal credit score of 650 or above. Must have a business credit score of 150 or above. Borrower requirements (click to expand) Hide

Best for…

Long-term, low-interest SBA loans online

SmartBiz, available in all 50 states, combines the best of both worlds when it comes to business loans: the convenience of an online application, and the low-cost and comfortable repayment schedule of a long-term loan. Specifically, SmartBiz offers SBA loans up to $5 million, including general business loans and commercial real estate loans. SmartBiz also partners with banks to sell non-SBA bank term loans up to $200K.

SmartBiz’s main benefit is its efficient, simplified SBA (Small Business Administration) loan application process. If you can qualify for a bank or SBA loan, SmartBiz offers a quicker application as well as a speedier time-to-funding. Also, while SmartBiz isn’t as easy to qualify for as some online loans, you may still qualify even if you have fair personal credit, and there is no specific revenue requirement.

Borrower qualifications vary somewhat depending on which type of loan you apply for:

Time in business: 2â3 years
Personal credit score: 650â675
Business credit score (on certain loans): 150
Business revenue: N/A (but sufficient to support repayments)

Time-to-funding can take from one to several weeks, depending on how fast you submit all the necessary documents. Still, this is faster than applying for a bank/SBA loan through traditional channels.

Banks & Credit Unions In Maryland

Whereas online loans are ideal for Maryland businesses that have subprime credit or not much time in business, bank loans are more appropriate for established businesses with excellent credentials. If you apply for financing through a bank or credit union, you might qualify for a longer-term loan with low interest, especially if your bank is an SBA (Small Business Administration) loan partner. As mentioned, some reputable online lending companies such as Lendio and SmartBiz have the option of connecting you with bank loans, including SBA loans—a type of government-backed business loan offered by certain banks.

The following are some popular Maryland business bank loan options. We don’t have too much information about local Maryland banks, as we don’t typically review local banks in depth. Nevertheless, choosing a local bank versus a large national bank can have its advantages in terms of more responsive and personalized customer service, so it’s definitely worth checking out these options on your own.

Howard Bank

Howard Bank, Baltimore’s largest independent bank, is an SBA-preferred lender and also offers non-SBA business loans. Howard Bank offers business loans for a variety of business purposes, such as working capital and equipment financing, as well as commercial real estate loans.

Howard is a strong option to consider if you want to choose a local Maryland bank for your business financing needs. Howard Bank also participates in Baltimore County’s Small Business Loan Fund, discussed in more detail below.

In addition to Baltimore County, Howard Bank also has numerous other branch locations throughout central Maryland.

T.D. Bank

T.D. Bank, N.A. is the American branch of Canadian bank Toronto-Dominion Bank. This New Jersey-based bank division operates in 15 states, including Maryland, as well as Washington D.C.

Maryland small businesses with good credit may find T.D. Bank to be an excellent smaller alternative to the “Big 4” banks, as they offer low interest rates to qualified borrowers. T.D. bank also participates in Baltimore County’s Business Small Loan Fund, discussed in more detail below.

Chase Bank

In 2018, J.P Morgan & Chase unveiled plans to open more than 70 locations in Maryland, D.C., and Virginia. Chase already has locations in the Capitol but will open its first Baltimore-area branch in 2019 (in Hunt Valley).

For businesses looking for the convenience of a large, national bank, Chase offers excellent business financing solutions to small and large businesses (including startups), with low interest rates. However, you will need good credit to qualify for Chase’s financing products, which include business term loans, SBA loans, and lines of credit. Chase also offers its customers some excellent business credit cards.

See our Chase Business Loans review for more information on Chase’s business loan requirements.

Baltimore County Small Business Loan Fund

Baltimore’s Small Business Loan Fund is a partnership between the County of Baltimore and some of the area’s leading banks, including T.D. Bank, Howard Bank, Wells Fargo, Bank of America, PNC Bank, and others. These are real estate and fixed-asset loans with a maximum amount of $1 million, or 40 percent of the project cost, whichever is lower. To qualify, applicants must obtain a loan commitment for at least half of the project cost from a participating Baltimore bank. You can find a full list of participating banks on Baltimore County’s website.

Nonprofit Lenders In Maryland

Nonprofit lenders may be able to offer low-interest loans to qualified small businesses. While not all Maryland businesses will be eligible, the good news is that Maryland has at least several nonprofit organizations that offer low-interest small business loans to businesses that don’t qualify for bank financing. There are also government-funded loans specifically for nonprofit organizations in the state of Maryland.

Baltimore Community Lending, Inc.

Baltimore Community Lending, Inc. is a certified nonprofit Community Development Financial Institution. This enterprise’s wholly owned subsidiary Baltimore Business Lending, LLC provides capital to startup and emerging small businesses in the city of Baltimore that have good credit but lack the equity or collateral to obtain traditional financing. Loans are made via partnerships with approved microlenders and technical assistance providers.

Nonprofit, Interest-Free, Micro Bridge Loan Account (NIMBL)

NIMBL is a loan from the state of Maryland available to nonprofit organizations only. Specifically, this program is for nonprofits that have been approved for other government grants or contracts but have not received the funds yet (hence the “bridge” loan designation). This program provides interest-free loan up to $25K to qualified nonprofits in the state of Maryland. You can find more information about this program on the Maryland Department of Commerce website.

Rockville Economic Development, Inc.

Rockville Economic Development, Inc. (REDI) was founded in 1997 as a nonprofit entity to support existing small businesses as well as to attract new businesses to the city of Rockville, MD. REDI offers several different loans and grants to Rockville businesses; Rockville businesses should check REDI’s website to see which financing programs they might be eligible for.

In addition to these nonprofit loans for businesses in the city of Rockville, other cities and counties in Maryland, including Frederick, Montgomery, and Baltimore, have similar low-interest or interest-free loan programs for businesses in those areas.

Small Business Grants In Maryland

Generally, grants for for-profit businesses are hard to come by and even harder to get approved for. However, Maryland seems to have an exceptional number of government-funded grant programs designed to promote economic development in the state. I’ve highlighted some of the most relevant programs below, and you can find a full list of all state business grant programs on Maryland’s Department of Commerce website.

Video Lottery Terminal Fund

Maryland’s Video Lottery Terminal Fund (VLT) uses proceeds from the state’s video slot machines to assist small, minority, and women-owned businesses located throughout the state of Maryland (and especially in the areas surrounding Maryland casinos). You can find more information on this grant on Maryland’s Department of Commerce website.

Rockville Small Business Impact Fund

The Rockville Small Business Impact Fund is a new program that will offer financial assistance to qualified, small- and medium-sized businesses in Rockvilleâs performance districts, particularly start-ups and businesses lacking access to the capital they need to sustain growth.

Per the program’s website:

During the Impact Fundâs pilot year, it will support private-sector solutions to community challenges through a grant focused on fostering economic vitality and community engagement in Rockville Town Center.

Montgomery County MOVE Program

MOVE is a one-time grant for businesses that are new to Montgomery County and lease up to 10,000 square feet of office space for a minimum of three years, excluding retail and restaurant industries. (Rockville, MD has a comparable program.) Eligible businesses may receive a grant of $8.00 per square foot for Class A or B space, and up to $4.00 per square foot for Class C space. You can contact the Montgomery County Economic Development Corporation for more information on this grant.

Advantage Maryland

Advantage Maryland (also known as MEDAAF) is a broad, state-funded program that funds grants, loans, and investments to support economic development initiatives in the state of Maryland. Only businesses in eligible industries and priority funding areas will qualify. Contact the Maryland Department of Commerce for more information.

Export MD Program

The Export MD grant is designed to reimburse Maryland businesses for international marketing expenses. Funded in part through a cooperative agreement with the SBA, Export MD awards eligible Maryland businesses with up to $5,000 in reimbursement for expenses associated with an international marketing project—for example, trade show fees, airfare, translation of brochures, and website development. Maryland DOC accepts applications for this grant on a monthly basis.

Loans & Resources For Startups In Maryland

Brand-new companies have special hurdles when it comes to obtaining startup capital and other startup necessities. Fortunately, there are both state-funded and private nonprofit organizations in Maryland to help you find startup capital, register your business, and get your business off the ground!

Maryland Business Express

Hosted on the Maryland Department of Commerce website, Maryland Business Express is an online resource that provides a comprehensive set of resources for individuals who want to start a business in Maryland. You can do everything from register your business, to establish tax accounts for your business, to obtain Maryland business licenses online.

In other areas of the same website (Maryland DOC), you can also find loan and financing resources for Maryland business startups.

Maryland Capital Enterprises, Inc.

Maryland Capital Enterprises, Inc. (MCE) is a nonprofit lender providing small business loans to startups in Maryland. These loans of up to $50K are for for-profit startup businesses that have tried to obtain capital from a bank but were unable to. Visit the program’s website for more info.

Frederick County Small Business Loan Guarantee

The Frederick County Small Business Loan Guarantee program provides funds for the purchase of real estate, machinery, equipment, inventory, working capital, and renovation of real estate to startup businesses located in a Frederick County priority funding area (priority funding areas cover most municipalities and major transportation corridors in the county). The loan guarantee is for up to 80% of the loan with a maximum of $50,000.

Baltimore County Boost Fund

The Baltimore County Boost Fund provides loans of up to $250K to small businesses (classified by SBA standards) in Baltimore County and can be used for startup funds, as well as other business expenses. Baltimore-area small businesses are eligible, as are minority-owned businesses, woman-owned businesses, and veteran-owned businesses in Baltimore. Baltimore County also has a few other loan programs startups in the area may qualify for.

What To Consider When Choosing A Lender

There’s a lot to consider when choosing a small business lender. Among the most important factors are :

How much you’ll pay for the loan (in interest and other fees)
Time-to-funding
Repayment schedule
Lender reputation
Ease of application
Do you qualify?

Generally, you want to choose the lowest-interest loan you qualify for, but you’ll also want to consider the lender’s overall reputation and whether you can comfortably afford the loan repayments. If you are time-pressed (and who isn’t?) you should also take into account how fast the loan will come through, and how convenient the application process is.

Different types of loans have different pros and cons you’ll need to weigh—for instance, an online loan you qualify for today might be easy to apply for and will hit your account within a couple of days, but carry a high interest rate or factor rate, with a short repayment term. You may have to wait a couple of years before you can qualify for a bank or SBA loan, but it will have a lower interest rate and more comfortable repayment schedule.

In order to choose the best loan you qualify for, you’ll need to consider multiple offers from different lenders. As mentioned, using a loan aggregator service like Lendio one good way to compare different business loans at the same time.

Of course, you’ll also want to make sure you even qualify for a loan before you start seriously considering them, or you’ll just be wasting your time. Be sure to check your credit score and also check that you meet a lender’s borrower requirements—which are almost always clearly stated on their website—before applying.

Final Thoughts

It’s safe to say that Maryland is indeed “open for business,” as its business-forward mayor states. While Maryland does have a relatively high cost of doing business compared to many other states, there are numerous loans and even grants available to Maryland businesses.

The D.C.-adjacent state has a lot going for it when it comes to attracting small businesses, including a wealthy populace, potential for government contracts, access to a major seaport, and many government programs to promote economic development, particularly for businesses owners who struggle to qualify for traditional means of capital. Whether you choose to go the bank loan route, apply with an online lender, or try to qualify for government-backed financing, you have many financing options at your disposal as a business owner (or aspiring business owner) in the Old Line State.

The post Maryland Small Business Loans appeared first on Merchant Maverick.

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July 15, 2019

Subdomains Explained

A subdomain is a domain that is attached to a root (or main domain) that can direct browser requests to specific files on a specific server.

You are currently looking at files on shivarweb.com – but more specifically, you are looking at files on the www.shivarweb.com subdomain, since I also use subdomains like app.shivarweb.com and other for experiments.

As an analogy, if a domain is like a physical address, but on the Internet, then a subdomain is like a Suite or Apartment number. Like a Suite number, they only make sense as part of the larger address, but they allow visitors to access a more more specific (and usually different) location.

That’s the short version, but there’s more to subdomains than just the definition and an analogy. I’ll cover questions like –

What Is a Subdomain?
What Is a Subdomain Used For?
Subdomain vs Domain
Subdomain vs Subdirectory
Subdomain Examples
How To Create a Subdomain

Disclosure – I receive customer referral fees from companies mentioned on this website. All data & opinions are based on my professional experience as a paying customer or consultant to a paying customer.

What Is a Subdomain

Like I wrote in Domain Names Explained, the Internet is nothing but a bunch of connected devices with IP Addresses (usually a series of numbers like 192.168.0.1). IP Addresses are not only hard to remember, but they change frequently.

A domain name is a great way to provide a memorable way to locate your information on the Internet. It’s easier to say that your website is at shivarweb.com than at 70.39.148.106

But what if you have several different Internet applications that you want to all live on your domain name? That’s where subdomains come in.

Subdomains always come before the root domain and before the top level domain (TLD). For this website, www.shivarweb.com –

www is the subdomain
shivarweb is the root domain
com is the top level domain

A subdomain is a part of the root domain, but remains different. You can “point” different subdomains via the Domain Name System (DNS) to completely different server locations.

cPanel documentation says that it is “a subsection of your website that can exist as a new website without a new domain name.”

You can have an infinite number of subdomains and even sub-subdomains. A website can also have no subdomain. If you just see https://website.com (note that lack of anything between https:// and website) – then you are on a site with no subdomain.

That’s how companies can have their website at www.shivarweb.com and their customer portal at login.shivarweb.com and their blog at blog.shivarweb.com – these resources are all at shivarweb.com…but all in different server locations.

What Is a Subdomain Used For

A subdomain is used for providing different resources all within a single domain name, but usually the resources will need to be on a different server.

Since a domain can have an infinite number of subdomains, subdomains are often used to limit confusion, maintain a primary online brand, and cut costs (since a new domain name costs money).

For example, a small company might have an employee dashboard that they run with a 3rd party software app but they also might have a main site that they run with WordPress on their own server. They also might have a merchandise store that they run with Shopify.

All three resources need to live under the company’s domain name, but they all live in different places. They would have to setup – employee.natecompany.com and www.natecompany.com and store.natecompany.com.

Subdomain vs Domain

So what is the difference between a subdomain and a domain name? The short version is that a subdomain needs a domain name to work, but a domain name does not need a subdomain to exist.

A domain name is a core part of you and your brand on the Internet. A subdomain is more of a technical workaround. In fact, you don’t even really need the default “www” subdomain (even though it does make some technical items easier, which is why it sticks around).

As far as using a subdomain vs a domain, it’s often simply a preference. Some companies prefer to have their separate projects on separate domain names entirely. Some companies like to have a nice system of subdomains.

Subdomains can create some technical issues (ie, cross-subdomain tracking, security certificates, etc), but they also solve and simplify other issues.

It’s usually preference.

Subdomain vs Subdirectory

A subdomain is a different domain under the root domain. It appears before the root domain in the URL (ie, subdomain.domain.com.) A subdirectory is a place on a server where certain files live. It appears after the top level domain in the URL (domain.com/subdirectory/).

In an analogy, imagine your website as filing cabinets (remember those?). A subdomain would be different cabinets while a subdirectory would be a folder inside of a cabinet.

Now, there is an ongoing & complex debate on whether it’s better to use a subdirectory or a subdomain for distinct sections / campaigns / microsites.

For example, if you have a Spanish and an English language website, is it better to use es.yoursite.com & en.yoursite.com or yoursite.com/es/ & yoursite.com/en/?

Or, if you have a blog that uses WordPress (and the rest of your site uses Drupal), is it better to use blog.yoursite.com or yoursite.com/blog/?

The short, unhelpful version is that it depends on what software you are using, what your plans are, what your marketing strategy is, and what your technical skills are.

Now, based on my experience as a marketer with a focus on organic traffic & analytics, I say that unless you have a specific, firm reason to use a subdomain, then you should always default to using a subdirectory.

Why? Because Occam’s Razor – a problem-solving principle that states, “Entities should not be multiplied without necessity” or, the simplest solution is most likely the right one.

Subdomains are seem easier to implement upfront without planning. But, they introduce a lot of complexity both upfront and forever into the future. For languages, ecommerce, SEO, analytics, development, security, etc – maintaining a single website location is almost always better.

The only caveat where subdomains usually wins is online software that you want to associate with your domain…but not with your website. Customer portals, some forums, and any internal uses work better with subdomains, since subdomains inherently separate those functions from the rest of your website.

Subdomain Examples

You probably navigate among subdomains constantly and do not realize it. But here’s a few diverse examples of websites who execute subdomains well.

Wikipedia – Languages

Wikipedia is a heavy user of subdomains. They have subdomains for every language, and sub-subdomains for mobile versions.

Curbed – Brand Identity

Curbed is VoxMedia’s real estate & interior design website. Due to the nature of real estate news, they have each focus city on a subdomain with its own independent publishing software. While it is debatable from a purley SEO standpoint, it is a perfect setup to capture local interest & traffic while building a national publishing brand.

NPR – Ecommerce

NPR is a radio network, first and foremost. Their main domain NPR.org has to be 100% focused on their member stations, news & content. But, they also have merchandise that they would like to sell on their domain to serious fans. A custom Drupal setup runs their content site, but they use Shopify for their shop. This setup is a perfect example for subdomain use.

Kopywriting Kourse – Customer Portal

Kopywriting Kourse covers, well, copywriting. They have an extensive free section on their blog that uses WordPress, but they also have a members’ area that runs off customized 3rd party forum software. They want members to stay on the “Kopywriting Kourse” branded site, though the members’ area lives on a subdomain.

*Disclosure – Kopywriting Kourse is a client of mine. I actually helped them setup cross-domain analytics for their subdomains. Again, it was a bit complex, but worthwhile for their specific needs. We certainly considered hosting a forum or social network on a subdirectory, but ruled it out due to their business goals, technical needs, and the spam / security risks of not using 3rd party forum software.

How To Create a Subdomain

So let’s say that a subdomain is right for you. How do you actually make that happen?

To create a subdomain, you need to go wherever your DNS records live (not your domain registration). If you have a hosting company that is separate from your domain registrar, then you’ll likely go to your hosting company.

If it’s at your hosting company, then you’ll navigate to your cPanel and/or account dashboard. There will likely be a shortcut called “subdomains” where you can select your domain and add your subdomain. You’ll need to name it, and then tell it where the software lives on your server. Here’s a screenshot from InMotion Hosting’s subdomain area.

Now, that path is simple if both websites will live on the same server. If your websites live elsewhere, then you’ll likely need to edit the DNS records directly. To do this, find where you can edit the “Zone Records”. Once again, here’s a screenshot from my account at InMotion Hosting.

You’ll notice that there will be several records that already exist. You’ll need to add a “Record” based on the software instructions from your software provider. Usually, this will involve setting an A record and a CNAME record. It usually depends on your software’s exact setup.

Next Steps

Subdomains are a useful, but often misunderstood part of the Web. They can be a cost-effective and versatile way to make the most of your domain name, but they can also be a clunky and complex solution to common website setup issues.

Either way, be sure to understand the tradeoffs and what tradeoffs your subdomain setup involves.

The post Subdomains Explained appeared first on ShivarWeb.

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July 9, 2019

Cloudways Hosting Review: Pros, Cons, and Alternatives

So you’re looking into using Cloudways as your hosting provider, and you’re wondering how they stack up against the competition.

But hold on one second.

I tested out Cloudways for a client project because they have gotten really good press for creating a truly unique product in a pretty staid industry.

As with any unique product, they’ll need a bit of background on the web hosting spectrum.

Let’s talk about the difference between cloud hosting and traditional shared hosting.

Usually your website files live on a part of a server that you rent from a hosting company (hence “shared” hosting). A cloud is an entire network of data centers that host website files in a distributed & decentralized fashion. Your files are deployed “everywhere” in a way of speaking. You just rent the resources on the network needed to host & deliver your files.

Imagine real-world housing for a second. Traditional hosting is like buying a house, townhouse or condominium. You buy it and you can do whatever you want. It’s cheap and predictable. But if your entire extended family shows up one day – you might have some issues hosting everyone. Cloud hosting is like having access to any house anywhere in the world whenever and wherever – you just have to pay per night for whatever house you use. It’s more expensive day to day, but when your entire extended family shows up one day – it’s a pretty simple, quick fix. You just get the 12 bedroom house for the night and no one is the wiser.

The actual cloud is built by the biggest tech companies in the world. There are not that many. Amazon is the biggest. They are closely followed by Google, Microsoft, Oracle, and IBM along with a few smaller ones like Digital Ocean.

With cloud hosting, you have more access to guaranteed resources than on shared hosting.

On shared hosting, you have a set amount of resources on a specific server that also has a set amount of resources. For example, you might have 1GB of Memory dedicated to you on a server that has 10GB of memory in total.

But suppose there are 10 customers on that shared server, each with 1GB of memory. 9 of those customers start using a full 1GB of their allocation – sometimes a little bit over. Well, now, you can’t actually use your 1GB of memory without bringing the server done. In that case, you might get throttled or one customer’s site might get taken down. Now, a good shared hosting will have network engineers who have built out ways of balancing, but it’s the core tradeoff with the setup.

On cloud hosting, you pay per use of resources on a distributed network of servers that has basically infinite resources. Your data doesn’t live on a single server. Instead, it’s copied on a whole network all around the world. If a single server gets overloaded, another server starts returning the the data.

This is the reason why NetFlix runs on Amazon’s cloud and why Twitter runs on Google’s Cloud. Those are extreme but illustrative examples. They see huge spikes at random times during the day that only a cloud can handle.

This makes cloud hosting a great option for websites that have spiky traffic (like viral news sites or a site that goes through regular launches) and doesn’t want to commit to a set amount of resources that may or may not be guaranteed.

But cloud hosting is traditionally expensive and very technical to set up, which can make it not make sense for a lot of DIYers and small businesses. The time & money to get it configured *just* right is out of reach for most businesses.

And that’s where Cloudways comes in.

What is Cloudways?

Cloudways is what’s known as a “managed cloud hosting company” headquartered in Malta. They offer hosting via the big cloud companies, but they manage the process by providing custom setup software, support, and some price smoothing to make cloud hosting more accessible to small businesses and DIYers.

See Cloudways Current Plans & Pricing.

Cloudways competes directly with other hosting companies with managed cloud-based products, like HostGator Cloud, WP Engine, and SiteGround Cloud.

However, they also compete indirectly with the cloud companies themselves like Google, Amazon, Microsoft, Digital Ocean, and Linode since anyone can buy directly from them.

But Cloudways also compete with traditional shared hosting companies like Bluehost, SiteGround, Hostwinds, Hostinger, Dreamhost, InMotion, etc. because of their pricing model & price point.

Confused yet? Yeah – me too, and I’m the one trying to write this review and explain it to my clients.

In some ways, this point is a pro for Cloudways. They are trying to do something truly unique in the hosting industry. Anything truly novel is hard to figure out. That doesn’t come along often, and it’s worth pointing that out.

Essentially Cloudways provides the guaranteed resources of cloud hosting with the guaranteed pricing of shared hosting. For a lot of businesses, this deal does not make sense — but if you know you’ll have really high highs and really low lows in your website traffic and don’t want to commit to (or deal with the technicalities of) direct cloud hosting with Google, Amazon, etc., it’s a fairly interesting set-up.

So with that said, let’s look at the Pros and Cons of Cloudways hosting.

Pros of Cloudways

There are a lot of Cloudways reviews online – usually with user-generated reviews based on anecdotes and personal experience. That’s fine but I take a different approach. As I’ve said in other hosting reviews, there is no such thing as a “best” web host. The “best” is the right fit for your project based on your goals, budget, experience & expertise. Here are the pros (advantages) for considering Cloudways.

Simplified Pricing

One of the biggest advantages of using Cloudways as your cloud hosting provider is their simplified pricing packages. Traditionally, cloud hosting pricing is pretty complex. Because you pay for what you use, it can be difficult to figure out exactly what you’re going to end up owing. Just look at Google Cloud’s pricing calculator:

Cloudways has simple, monthly pay-as-you-go plans. There’s no calculating, no guessing — just straightforward monthly rates that you can choose based on your needs.

They also have a chat bot that will recommend a specific plan for you based on the number of websites you have, your traffic volume, and the purpose of your site (i.e. blog, digital agency, etc.).

All in all, the pricing structure is straightforward and pretty hassle-free, which is a huge competitive advantage when comparing Cloudways to other cloud hosting providers.

Cloud Host Variety

Another interesting advantage of Cloudways is the ability to choose your Cloud Host. Cloudways offers hosting with several big cloud hosts, from DigitalOcean to Amazon to Google.

Again, this makes Cloudways the middle man of sorts. You’re not actually hosting on their platform — they serve as the intermediary between you and the cloud hosting platforms.

Having the choice of cloud hosts in a more simplified pricing structure is definitely a pro… but again, it really only makes sense if you know you’ll have highs and lows in your website traffic and don’t want to commit to (or deal with the technicalities of) direct cloud hosting with Google, Amazon, etc.

Performance

In addition to hosting your website files, a good hosting server will also deliver those files as quickly as possible every time a visitor goes to your domain name address.

There are a lot of variables that go into how fast your website is. You can have the fastest server in the world and still have an incredibly slow website due to issues on your end. But either way, you want to have a hosting server that is fast so that you can work on your side of the equation.

One of the best measurements for approximating performance is TTFB or Time to First Byte. Again, I know that network engineers throw a lot of asterisks here and if you know *exactly* what type of website you are running – you can absolutely ask for detailed allocated specs. My goal with my hosting reviews is to provide a narrative of tradeoffs so that you can make the call for your website.

But here’s how DigitalOcean performed via Cloudways with my website when I first set it up on a clean WordPress install –

.0127s for TTFB is pretty speedy, especially when you compare it to the performance of budget shared hosts like Web Hosting Hub, Hostinger, iPage, or even GoDaddy. Actually, it’s really fast no matter who you compare it to.

Again, there are tradeoffs here. The more your use on Cloudways, the more you’re going to pay. But if you’re looking for a hosting platform that can handle spikes of traffic without throttling your performance, Cloudways gives you some great options.

Cons of Cloudways

Like any web host, Cloudways has disadvantages. There are plenty of Cloudways complaints to be found online. Plenty are valid, and some are simply anecdotal. Here are the cons that I found while using Cloudways for hosting.

Complex Set Up

Perhaps the biggest con of Cloudways is how complex it can be to get up and running.

As much as Cloudways positions themselves as the ones who take care of the complexities of cloud hosting, making it easy for business owners to get set up and focus on their actual business… the set up of hosting with Cloudways is far more complex than traditional hosting.

For starters, aside from a video on how to migrate your WordPress website and some articles, there isn’t much in the way of onboarding (AKA guiding you through getting set up on their platform). We did get a few emails from customer support, but if you wanted to dive in and get started yourself, it’s a bit like navigating a maze.

We also had some trouble getting our account up and running. The sign up process isn’t as simple as entering your information and diving in. Cloudways has to confirm your details, and it took a few different conversations with support to get access to our account.

Lastly, after the three day trial (more on that in a minute), we had to remigrate our account. Now – this could have been user error, but it was so complicated – even for someone who has written a ton of reviews of hosting companies. I couldn’t even tell if it had worked the first time.

Limited Trial Period

Despite their simplified pricing structure, Cloudways does have one main con in the pricing area… and that’s their limited trial period.

Usually hosting platforms will come with some sort of guarantee or trial period, so you can test them out before you commit. Cloudways offers three days — and if you’re having difficulty figuring out the migration and set up, those three days go pretty fast.

Again, if you’re committed to cloud hosting, this probably doesn’t matter to you. But if you’re testing it out, it’s a short period.

Custom Backend

At most hosting companies, you have an account area where you access to billing, account information, bonuses (ie, Google Ads credits), etc – it will also have links to your actual server backend/dashboard.

Most hosting companies use cPanel as the server backend/dashboard. cPanel is where you go to do anything with your hosting server – install any applications (ie, WordPress), set up email addresses, get your FTP information to upload files, etc. It’s simple, straightforward, and since most hosting companies use it, it’s sort of an industry standard that you can get help with anywhere online.

Cloudways does not use that setup. They use a proprietary backend for both your account administration and your server administration. It’s seamless for what they do…but it’s not really something you can Google or DIY troubleshoot.

On one hand, it is simplified and allows Cloudways to provide a truly customized experience. On the other hand, the set up is confusing and feels limiting. It’s difficult to sort through where things are, and everything feels overly technical (which really doesn’t help me “focus” on what I do best, AKA run my business).

It adds to the complexity of the platform, rather than making it more streamlined and simple.

Conclusion & Next Steps

Overall, I found Cloudways to be a unique solution for those who need the benefits of cloud hosting without the complete complexity of it. While Cloudways still isn’t as straightforward as traditional hosting companies, it does streamline the process of getting set up with a cloud host.

See Cloudways Current Plans & Pricing.

If you’re looking for the benefits of cloud hosting, but don’t want to deal with the overly technical set up, fluctuating payments, etc., go ahead and sign up for Cloudways here.

However, if you just need a solid hosting company that’s straight forward, easy to use, and can handle steady website traffic, you’re better of with a traditional hosting platform like InMotion Hosting. I’ve used them for years – and they fit most small business sites’ need for a balance between price, performance & support.

If you are more confused than ever – then take my Web Hosting Quiz here or use my website setup guide here!

The post Cloudways Hosting Review: Pros, Cons, and Alternatives appeared first on ShivarWeb.

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What Is A One-Page Business Plan?

The Basic Structure

Should You Use A One-Page Business Plan?

What You Need To Create A One-Page Business Plan

Business Overview

Objectives

Experience

Target Market

Your Competition

Financial Summary

Marketing Strategy

One-Page Business Plan Template [Download]

You’ve Created Your Business Plan. Now What?

1. There’s No One-Size-Fits-All Solution

2. You Need A Payment Processor And A Gateway

Types Of Payment Processors

3. You Can Accept More Than Just Credit Card Payments

Do You Want To Sell Globally? Prepare To Pay More

4. You Need To Be PCI Compliant

Payment Security Is Important

How To Find An eCommerce Payment Provider

What Is Shopify Pay?

How Does Shopify Pay Work?

Shopify Pay VS Shopify Payments

Why Shopify Pay Can Be Great For Merchants

Current Rates For Popular Business Lines Of Credit

How Lenders Determine Your Interest Rate

Where To Get Business Lines Of Credit

Final Thoughts

Franchisor Financing

SBA Loans

Home Equity Loans & HELOCs

Rollovers As Business Startups (ROBS)

Online Loans

Partnerships

Low-Cost Franchises

Final Thoughts

Â < $500K Investment

1. Kona Ice

2. Ben & Jerry’s

3. Maui Wowi

$500K â $2 Million Investment

4. Sonic Drive-Thru

5. Dairy Queen

6. MELT SHOP

Multi-Unit Investment

7. Panera Bread

8. Darden Restaurants

Final Thoughts

General Website Example

Keyingredient

Education Website Example

Mr. Rees’ Social Studies Classes

Photography Website Example

JSVFOTO

Church Website Example

Morton Park Hall

Business Website Examples

PCS

Flanders Hotel Bruges

Petits Gâteaux

Personal Website Example

Andy Wolber

Next Steps

Online Business Lenders For Maryland Businesses

Lendio

Breakout Capital

AMEX Business Loans

OnDeck

LoanBuilder

Prosper

SmartBiz

Banks & Credit Unions In Maryland

Howard Bank

T.D. Bank

Chase Bank

Baltimore County Small Business Loan Fund

Nonprofit Lenders In Maryland

Baltimore Community Lending, Inc.

Nonprofit, Interest-Free, Micro Bridge Loan Account (NIMBL)

$500K â $2 Million Investment