Career and Enterprising Archives | Page 119 of 122

Opening A Franchise in Singapore? Know These 5 Things First

Starting a business in Singapore cannot only be expensive but also difficult. As Albert Kong, CEO and chairman of Asiawide Franchise Consultants that advised 650 franchise clients in Asia, once said: “Starting a business in Singapore is much tougher than other countries in the region especially when it comes to dealing with landlords and managing employees.”

1. SAVE LOADS OF MONEY FOR FUTURE EXPENSES

You must save for the franchise fee, renovation of the space, rent requirements, raw materials, and employee salary. Regardless of whether you are making a huge profit or not, the franchisor will request a share in your revenues.

For example, the franchise fee for a cafe is about S$50, 000 for a 3-year contract. The renovation costs may hit about S$100, 000 for only a 600 sq ft place. The rent of this 600 sq ft place costs about S$7, 000 a month. Additionally, the raw materials and employee salary for the first few months costs an extra S$100, 000. These costs heavily depend on your franchisor and landlord.

2. EMPLOYEE EXPENSES ENTAILS HIGH COSTS

Employees in Singapore are among the highest paid workers in the world. Not to mention, as an employer, you will have to contribute a given amount to the Central Provident Fund (CPF). Employees can leave you whenever they want and because of it, you will have to spend more resources to hire and train again. To avoid this, layout a 1-month waiver for employees that want to resign.

3. FAMOUS BRANDS ARE THE SAFEST

A household name such as 7-Eleven is your safest bet if you are franchising for the first time. First, the landlord will be more lenient to you as they know the “required look” of the establishment. Second, consumers tend to buy brands that they are most familiar with. In Singapore, the famous F&B franchises are Subway and Ya Kun Kaya Toast.

4. FOLLOW YOUR PASSION

Follow your passion so you do not feel the stress of costs too much especially during the first few months. If you are motivated by your happiness then, you are more likely to succeed in what you do. Furthermore, you may consider franchising a unique business with a popular brand to avoid the competition.

5. BUILD GOOD BUSINESS RELATIONSHIPS

It pays to have a good business relationship that is open and honest with the suppliers and the landlord so that if disagreement and troubles arise, you can settle it out in a friendly manner.

Image Credits: 드림포유
via Flickr

Sources: Business Insider Singapore

6 Tips That Every Intern Should Know To Succeed

More and more business establishments are willing to hire interns especially because of their youthful digital-savvy nature. If you are preparing for an internship, you want to be as irreplaceable and knowledgeable as possible. Once you get in, you seek respect from your co-workers and employers. Here are some good tips to help your succeed as an intern…

PREPARATION

1. RESEARCH ABOUT THE INDUSTRY

Applying for an internship for advertising? Read Advertising Week or to Google the Heineken commercials as these companies are innovative and creative. Aside that, you must be knowledgeable about the existing advertising agencies in the country. Here are the Top 10 Advertising Agencies in Singapore, research further on what brought their success.

While if you are a planning to intern in finance then, read the Wall Street Journal. Again, here are the Top 10 Finance Companies in Singapore. Focus on the overall industry and a specific topic too. Be the wittiest person in the room on that certain topic.

2. EMBRACE TECHNOLOGY

Most interns are from the younger generation; hence, some employers expect that technology is second nature to you. If not, there is still time to change. You need to understand how social media works or if it is relevant to your industry, study SEO (Search Engine Optimization) tools. Observe what the public wants through media data and recognize the form of medium that is of value to you.

3. SAY THANKS

Always send a gratitude email to the person who assisted you or your interviewer. If you want to take the extra mile then write “Thank You” notes that you can pass onto these people. And when your internship comes to a close end, thank everyone for their help and include what you had learned from them.

DURING

4. ALWAYS SAY YES

Say “YES” to work tasks given to you (although some may be tedious) as they are part of your learning experience. Have tricks up your sleeve by learning how to make a good cup of coffee or tea by searching for it in YouTube or by mastering simple things. Occasionally, ask your boss if he/she needs any help from you. Do your best and do your work quickly. Someday, it will all be worth it.

5. IF YOU ARE NOT SURE, ASK

Ask honest questions rather than making assumptions. It is better to ask your boss or superior on how issues are managed. Everybody makes mistakes; the good news is that everything is fixable. If you were respectful enough, people would want to help you and see you improve. But, make sure that you never make that mistake again.

6. BLEND IN TO YOUR ENVIRONMENT

Adapt to the company’s ideal work clothing. If you are in a corporate environment then, it is better to wear long skirts or slacks. While, if you work inn a boutique where you stand and look for product stocks then, it is better to wear flats.

Image Credits: Juhan Sonin via Flickr

There is no right or wrong way to dress for an internship except if the company provides the uniforms. Nonetheless, the best thing for you to do is to wear conservative or non-revealing clothes in the first few days then adjust from there – depending on how your co-workers dresses.

5 Questions You Should Ask The Interviewer To Get A Good Company Insight

How will you know if you are really suited for the job and the company you are applying for unless you ask? Satisfaction at work and lesser turnover rate can only be ensured if you have a good insight of the company even during the job interview. According to studies and professional experiences, here are some questions every candidate should ask…

1. WHAT IS THE IDEAL EMPLOYEE FOR THIS POSITION?

Do not waste your time. Before saying “YES” to a job offer, consider whether you are the type of employee they are looking for. Some bosses in Singapore demand more attention and punctuality while others are loose and flexible toward their employees. You can get even more information by asking what the mission of the company is. Research showed that people are happier when there is a goodness of fit between the company’s and the employee’s goals.

2. CAN YOU DESCRIBE THE WORKPLACE CULTURE?

Not all Singaporean organizations make employees work for long hours. Asking the interviewer about the workplace culture will help you grasp the management styles, dress code, employee dynamics, and more.

3. WHAT IS THE LARGEST ISSUE THAT THE COMPANY IS FACING NOW? WILL I BE ABLE TO HELP?

Demonstrate your interest in the company. This question will not only imply that you are thinking of supporting the team but it will also encourage the interviewer to visualize you in the rightful position.

4. WHILE WORKING HERE, WHAT DO YOU ENJOY THE MOST?

Your interviewer who is superior in the company may have a more biased or positive view than others but, it is still worth finding out about the benefits that the job might bring once decide to stay in the company for long.

5. CAN YOU TELL ME ABOUT THE PREVIOUS PERSON WHO HELD THIS POSITION?

I have had an interviewer who told me that the post was vacant due to pregnancy but once the previous employee comes back, she would fill in a higher post. This is a good sign of the company’s flexibility and growth. If your interviewer speaks bitterly of the past employee, determine if the boss takes things personally or if the place is in turmoil.

Image Credits: Chris Potter via Flickr

After discovering the answers to these questions, ask yourself this: Are you right for the job?

Sources: Forbes and Inc.

4 Community Centres’ Workshops That Can Really Make You Money

Do you want to learn a life skill without breaking the bank? Then, consider going down to your community centre (CC) and find out the courses they offer. Far more than saving money, you can transform these awesome skills you learned into viable freelance businesses or occupations.

1. MASSAGE

Having a spa addiction or aspiring to become a massage therapist can become costly loads to your budget. Solve your problems with the Massage Therapy courses offered by several CCs. Learn the art of traditional Thai massage that relieves one’s stress levels by for only S$20-30 at Tampines North CC. This workshop will teach you how to engage sensorial experience and fuse it with health care. While, acupressure point massage is available at Bishan and Serangoon. Beyond getting paid for massage services, it can also serve as a sweet bonding activity for you and your partner.

2. HAIRCUTTING OR HAIRDRESSING

If you are tired of constantly paying for minor hair trims or are dreaming of becoming the next big thing in the hair scene then try the hair courses offered by CCs. CCs offer various techniques for hairdressing such as basic hair cutting, hair braiding, and hair perming. From April 14 to May 5, Punggol Park CC is offering hair-cutting basics for about S$65. This course is ideally for beginners or those who wish to update their knowledge on hair dressing. It not only offers the fundamental theories but also the practical lessons.

3. KNITTING

Every since the rise of “bohemian or gypsy chic” fashion, knitting is no longer an old woman’s hobby. Knitting can be found in hair accessories, jewelry, clothing, and more.

Image Credits: Guangzhou Hanyige Clothing Co., Ltd.

Toa Payoh CC offers knitting courses for about S$100. In this course, you’ll be taught the basics of knitting and use it to make your own clothing and jewelry. Using your creativity can help you create whatever your heart desires.

4. BALLOON SCULPTING

Have you ever noticed those people who are hired to make twisted balloons in order to entertain the children? They are everywhere from children’s party to company events. Making almost everything from cartoon characters to colorful flowers, this talent of balloon sculpting can now be learned. Woodgrove, Ulu Pandan, Tampines North, and Yew Tee conduct single-session workshops amounting to S$10-25. Learn the basics then, teach yourself more techniques by watching free videos on the Internet. This will not only save you money once you decided to have kids but it can also be a fun part-time job.

Image Credits: Erwin Soo via Flickr

Source: www.pa.gov.sg

4 Ways To Earn And Save Money As A Housewife

Raising children and keeping your home in top shape can be challenging at times. Even though you love to spend more time with your children, money is usually tight when there is only one income in the household. So, knowing ways to earn and save money while you are staying at home sounds like music to your ears. Here are some tips to get you started with…

1. HOBBIES OR BUSINESS STARTERS

Do you love to make cupcakes, jewelry, or essence oils? Turn your hobby into your own business. Be your own boss and master your own schedule by thinking about your skill set and hobbies then, start making an online business out of it. Free platforms for selling or making your own online shop such as: Carousell and Tictail, are available online.

2. STAY-AT-HOME NANNY SWAP

Instead of paying costly bills on daycare or babysitting, have another stay-at-home mom to take turns in taking care of your children. Watch your friend’s children for one weekend then, she will watch yours for the next. This will not only save you money but it will also give one day off for you to relax and run errands.

3. TIDY UP AND SELL STUFF ONLINE

Tidy up the clutter in your closet and find the things that you deem to be unused or underused because you can sell them online. The old clothing articles of your children that are still in good condition can be sold too. How about the costumes that you only used once? Get rid of it and earn money simultaneously.

Try selling your items to the worldwide marketplace platform of eBay and Gumtree. And, consider selling your items to your friends and family by posting an ad on Facebook. Save money by buying bargain items in these sites.

4. BECOME A SALES REP

A sales representatives or brand ambassadors sell household, beauty, or health products in their own ways. Join millions of independent ambassadors of Avon or MaryKay Singapore.

Have the freedom to design a schedule that works for you without thinking of building a business from ground up and still be able to nurture your loving children!

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