Category: Finances

If you’ve ever toyed with the idea of owning an event venue, you can see why the concept sounds like a good idea. After all, who doesn’t want to be in the business of helping people celebrate their events? From weddings to conventions to author events, hosting excited people on their big day sounds like a blast.

However, there’s a lot more that goes into an event rental business than drinks and party favors! If you’re thinking about buying a space of your own, here are four tips you should know in advance.

1. Your Event Venue Location Matters

Before you plan out the details of your event rental business, it’s important to consider one thing: location, location, location.

Do your homework to find a place that’s both convenient to access and comfortable for guests; these details are what help you stand out from the crowd. In addition, make sure you’ve researched your target audience well enough to determine what they’re looking for and where they want it to be.

2. Plan Your Space With Care

After you’ve found the right location, take time to plan an event space that will provide everything you need while adding value for customers. This means providing sufficient room for large parties as well as storage.

In many cases, it may help to work with designers who can advise you on creating flexible spaces that can adapt to different needs. This might include strategies like including moveable partitions or modular furniture you can refigure whenever you want.

Don’t forget to consider your local building codes, fire marshal requirements, and more!

3. Consider Your Expenses Ahead of Time

With any small business, the number one factor that puts you at risk of premature closure is financial strain.

To avoid this, it’s critical to understand your expenses ahead of time.

Research the details to estimate your rent, utility payments, taxes, and insurance. Find out what you’ll need to pay to get a food or liquor license, to build up an event inventory, to maintain the property, to advertise your services, and to pay your staff. These details can help you understand what you’ll need to make in order to break even.

4. Get Your Pricing Right

Once you’ve finished the step above, you should have a better idea of what you’ll need to charge for your services in order to stay afloat.

However, you’ll also need to make sure you’ve priced your offerings in line with the market—or potentially even lower. Having competitive prices, especially when you’re just getting started, can be a great help. Finding ways to get people through the door early on through promotional prices can encourage the kind of word-of-mouth marketing you’ll need to make your business a success.

Owning an Event Venue Is Worth the Effort

At the end of the day, owning an event venue can be tough at first—but you’ll find that the end result is well worth the effort and investment. As long as you’ve done your research and planned well in advance, running an event rental business doesn’t have to be hard. Better still, you’ll be able to spend your days helping your customers celebrate, connect, and have fun!

Looking for more tips to help you make the most of your big goals? Check out our other posts for additional insights.

What’s preventing you from starting a business?

If you’re anything like most aspiring entrepreneurs in the United States, it’s not a lack of ideas that’s holding you back. It’s a lack of adequate capital to start and run a business. In a recent survey, 42 percent of respondents said they lacked enough money to fund their business ideas.

This begs the question, how much does starting a business really cost?

If you’re thinking of setting up a business but don’t know how much money you need, this article is for you. Read on to learn about the average cost of starting a small business in the U.S.

The Average Cost of Starting a Business

While every business has unique capital needs, the Small Business Administration notes that the average cost of starting a microbusiness is $3,000. A home-based franchise will set you back anywhere from $2,000 to $5,000.

That being said, there are several factors that will influence your startup costs. They include:

The Nature of the Business You’re Starting

Generally, there are three kinds of businesses you can start:

• A brick-and-mortar business
• An online business
• A home-based business.

A brick-and-mortar is the costliest business to start of the three. Among other things, you need to rent or buy a commercial space, which can cost thousands of dollars.

With an online business, you eliminate the expenses that come with renting and operating a physical space. Building a decent ecommerce or business website isn’t as costly as renting a commercial space.

A home-based business falls between a brick-and-mortar business and an online business in terms of startup costs. Since you’re starting the business from your home, the need to rent a space doesn’t exist.

Does the Business Need Permits and Licenses?

Every business needs a general business license issued by the state in order to operate. However, there are businesses that need more specialized licenses.

For example, if you’re starting a food service business, you need a general business license, as well as a food service license.

The cost of getting a business license isn’t typically prohibitive, but it can add up to your startup costs.

So, if you’re starting a business in an industry that’s heavily regulated, expect to need more money.

The Need for Expert Services During Startup

It’s possible to start a small business entirely on your own. However, depending on the nature of the business you want to start, you might need to get some professional help.

For example, you might want to hire a business attorney to help you with business registration or incorporation paperwork. You may want to hire a small business consultant to help you write a business plan. Or, you may want to work with a branding specialist like Alexandra Watkins.

Expert services cost money, so if you need the help of a professional at any stage during startup, expect your costs to be higher.

Starting a Business Needn’t Be Out of Your Financial Reach

The cost of starting a business varies depending on a number of factors, including the nature and size of the business. On average, though, expect to spend about $3,000. Drawing a business plan before starting a business is an ideal way to get an estimate of your startup costs.

Explore our blog for more small business tips and advice.

Maintaining a healthy smile doesn’t require breaking the bank.

When it comes to dental procedures, people often settle for the dentists they regularly visit. However, many dentists charge outrageous prices that can make it difficult to get things done. Because of this, people end up getting loans or buying into payment plans with high-interest rates.

Understanding how to save money when you need a dental procedure will ensure you can afford more things. To save you time, we’ll go over several money-saving ideas so you can avoid high dental costs.

Read on to learn about 7 ways to save money on your dental costs!

1. Open a Health Savings Account

One of the best ways to save money on dental costs is to open a health savings account (HSA). These accounts are designed for people to grow tax-free dollars until they need them for medical expenses. They also come with favorable interest rates, so you can expect to earn money even when you’re not contributing.

If you’d like to take a more traditional approach, you can open a regular savings account and make contributions to that. However, you won’t qualify for some of the financial benefits that a health savings account can offer.

2. Use Employee Benefits

Most employers offer a plethora of employee benefits that you can take advantage of to save money. When it comes to dental care, you should see if your employer offers a healthcare plan. If they do, you can get a variety of services done without having to pay much money.

Some employers may also partner with specific dentists. If you visit them, you may not have to pay anything. This will vary depending on the type of dental procedure you do, but necessary procedures should be free. You may also get discounts when visiting the best cosmetic dentist your employer works with. 

3. Visit a Dental School

A dental school is one of the best places to go when you need a dental procedure but don’t have much money. Most schools offer dental services for free because the students need to practice on someone. While this may seem daunting, the student dentists you’ll work with have already practiced numerous times.

Not only will it give the students more experience, but you can receive high-quality work from someone that’s being supervised. The only downside to visiting a dental school is that the procedure may take longer.

4. Compare Different Dentists

Before you settle on a dentist, you should compare the rates and services of several. This is something that many people overlook, but it’ll help you find someone that offers reasonable rates. Keep in mind that dental offices are privately-owned, so they can charge any amount they’d like.

One of the main services you should look for is a payment plan. When dentists offer these, it’s much easier to get a procedure done because you won’t need to pay everything upfront. You may end up paying more in the long run, but you can get things done when needed instead of waiting.

5. Go to a Retail Clinic

A retail dental clinic offers a variety of low-cost services to those in need. What makes them stand out from other clinics is that their services are high-quality and affordable. They don’t offer many types of procedures, but you can expect to get things like cleanings, fillings, implants, and more.

Retail clinics can be found in high-traffic areas. Places like malls and drug stores are some of the most common, though you can also find them in various neighborhoods. When visiting one, you can get a dental procedure done without having to schedule an appointment.

6. Find Discounts Online

Out of all the cost-saving ideas, people often get interested in looking for coupons and discounts. This is an effective way to save money because many local dentists offer them when they want to attract patients. The best part about looking for them is that it takes minutes when searching online.

All you must do is search for something like, “dental discounts near me.” You’ll then see sites like Groupon appear, which offer a variety of coupons and discounts to new patients. These discounts often apply to basic dental procedures, but some dentists offer them for more expensive ones.

7. Practice Preventative care

Preventative care will ensure that you spend as little money as possible on dental care. Dentist pricing can be extremely expensive depending on the procedure, but they’re often ones that resolve hygiene-related problems. If you practice preventative care, you won’t have to visit a dentist often.

Things like brushing and flossing frequently will prevent your teeth from needing serious procedures. You should also schedule regular checkups to detect problems as soon as they arise. These checkups are much more affordable than getting something like an implant, which may be necessary if you have a deteriorating tooth due to poor hygiene.

Start Reducing Dental Costs Today

When you start looking into dental procedures, you shouldn’t have a problem getting them done without breaking the bank. Providing you use this advice, you’ll find a dentist that offers exactly what you need at affordable rates. However, ensure that you go through each of these steps before choosing one.

We encourage you to start by looking online for several dentists in your area. From there, you can look into coupons, dental schools, and retail clinics. If you get discounted dental costs from your employer, you may not have to do more searching.

Check out our other articles to read more about different topics!

Did you know: four out of ten businesses in the USA are owned by women? Women in the workplace have seen incredible growth in influence and financial power in the last three decades.

This is due to numerous factors, one being the availability of grants for women starting a business. So what are the best grants currently available for women? 

Keep reading for our guide to the top grants to apply for if you’re a woman starting a business in the USA.

1. The Girlboss Foundation Grant

Starting a business can be extremely challenging, and the creative industry is amongst the hardest field of all. Luckily, funds such as the Girlboss Foundation exist which help out women working in design, music, and the arts.

This grant is specifically for female-identifying business owners. Funding of $15,000 is available, and a thorough business plan is necessary to secure this competitive award.

2. The Halstead Grant

Next, if you’re wondering how to start a business for women, look no further than The Halstead Grant. This is for women looking to break into the jewelry industry.

Halstead offers up to $7,500 as well as an additional $1,000 to go towards purchasing Halstead jewelry supplies. Applicants must submit a portfolio and answer a series of questions relating to their business plan.

Those who are unsuccessful will receive constructive feedback about their business model, so this grant is well worth applying for.

3. The Cartier Women’s Initiative Awards

While there’s no such thing as free money to start a business, the Cartier Women’s Initiative Awards are the next best thing. Funds of up to $100,000 are available to successful applicants, as well as $30,000 to finalists.

If you’re looking to start a home care for independent living business, this would be a great option. Finalists also receive mentoring, access to workshops, and incredible networking opportunities.

4. Amber Grant Foundation

Another interesting opportunity for women starting a business is the Amber Grant Foundation. While a $15 application fee is required, $10,000 is awarded to a different women-owned business every month.

Then, one of the twelve grant-winners receives an additional $25,000 at the end of the year. This is a great option because you can apply throughout the year, and there’s no expectation that the money will be paid back.

5. Ms. Foundation Grants

Finally, those wondering how to start a minority woman-owned business should take a look at Ms. Foundation Grants. These grants specifically help businesses run by women, doing good for women.

For example, if you’re looking to establish a business addressing reproductive health, violence against women, or affordable childcare, this might be for you.

Those Are Some of the Best Grants for Women Starting a Business

We’ve now seen that there are plenty of options when it comes to applying for business grants. Make sure to do plenty of research into the requirements of each grant, and only apply to the ones you qualify for.

If you found this discussion of grants for women starting a business helpful, why not take a look at our other finance management posts?

Take-out night is a staple in American households to give everyone a delicious treat. All that take-out adds up to over a third of each dollar you spend on food. 

When you pay for a meal at a restaurant, you’re paying for more than the food. The price you pay also covers labor and other overhead costs at the restaurant. 

What happens if you take that money and recreate your restaurant favorites at home? Without the costs of running a restaurant, you save money on food. 

This guide contains tips on the best ways to save money with DIY meals. Start your savings adventure by using one of these recipe ideas for tomorrow’s dinner.

The Best Ways to Save Money and Eat Your Restaurant Favorites

One way to save money on restaurant recipes is to use cheaper meat. Sometimes something as simple as using chicken instead of beef makes a difference.

Fresh fish costs 3-4 times more than other meats. The best way to save money on fish is to catch your own. Grab your inflatable fishing boat and spend the weekend stocking up on fish.

Try Upscale Olive Garden DIY Recipes

Unless you eat nothing but soup and breadsticks, Olive Garden costs a fortune. You can recreate your restaurant favorites at home with a little time and effort.

The best way to save money is to pick food recipes that use items you buy often. Pasta is a staple in every pantry, so pick chicken scampi or alfredo to cook. Don’t forget to add breadsticks and salad for a real restaurant experience at home.

Surprise your family with an Olive Garden favorite for dessert. Tiramisu is a no-bake dessert you can whip up in the afternoon. It might be cheap and easy, but your family will think it cost a fortune. 

Food Recipes to Try for Taco Bell DIY Night

With the recent changes to the Taco Bell menu, some of your favorites might vanish. Stay ahead of their changes, and save money, by making Taco Bell at home.

Everyone can make a regular bean burrito with red sauce and onions. Branch out with your Taco Bell DIY and try harder recipes, like the Crunchwrap. If you’re watching your weight, make a black bean Crunchwrap, instead.

Nachos are always a crowd-pleaser. Make dinnertime interactive and set up a taco bar made with a Taco Bell twist. Look for packages of Taco Bell meat seasoning to ensure everything tastes right.

Make These Restaurant Favorites to Save Money and Eat Like Royalty

Often when you think about saving money on food, it means eating less. In reality, you save money by eating at home more often. At home, you’re not paying the overhead costs that raise restaurant prices.

Go back to eating out as a special occasion a few times a year. That gives you time to save up and treat yourself to a real gourmet feast. 

Are you looking for more ways to save money? Take a look through our articles to find tons of money-saving tips and tricks.