What is Gym Equipment Leasing? Leasing gym equipment is an extended form of renting it. Instead of purchasing machines like treadmills, weight benches, ellipticals, etc., you pay a monthly fee to offer them in your gym, but the leasing company retains ownership. Several types of gym equipment leases and financing options are available, varying in cost, term length, and end-of-lease options. Depending on the lease structure, you typically can purchase the equipment at the end of the lease period, return it to the lessor, or upgrade to new equipment. Operating Lease: A gym equipment operating l ..read more

What is Shop Pay? Shop Pay is an accelerated checkout option offered by Shopify for online shoppers. It allows customers to securely save their shipping and payment information, making the checkout process faster and more convenient. With Shop Pay, customers can complete their purchases with just a click, eliminating the need to re-enter their payment card details for every transaction. This streamlined checkout experience saves time and helps reduce cart abandonment rates, ultimately leading to higher conversion rates for merchants. Additionally, Shop Pay offers features like order tracking ..read more

What are No Money Down Business Loans? a no-money-down business loan is a commercial financing product that doesn’t require a down payment. These loans help businesses that need funding but lack the capital to make an initial investment. Getting a business loan without a down payment helps companies better manage cash flow and use the funds to support or grow the business. However, business owners should be aware that these loans represent a more significant risk for lenders. As such, they often have higher interest rates and shorter repayment periods than if they made a down payment. Explori ..read more

What does Top Line Revenue mean in business? Top-line revenue refers to a business’s total sales before any deductions or expenses. It is a crucial metric that showcases a company’s ability to generate income and expand its operations. Top-line revenue is usually the first item on an income statement, also called the profit and loss or P&L statement. It sets the stage for calculating a company’s profitability. By focusing on this figure, business owners can effectively gauge their company’s financial performance. Monitoring top-line revenue growth is essential for business owners as it pr ..read more

What does Fundability mean in Small Business Financing? Fundability refers to the likelihood of a small business securing financing from lenders or investors. It encompasses various factors, such as the business’s credit history, revenue, profitability, industry trends, market potential, and the owner’s personal credit score. Lenders view a highly fundable business as a low-risk investment. As such, it is more likely to receive favorable loan terms and interest rates. Businesses with high fundability are also better positioned to grow and succeed in the long term. This can make it more challe ..read more

How does the Francis Scott Key Bridge collapse affect Small Business? The Francis Scott Key Bridge in Baltimore collapsed on March 26, 2024, when the Dali cargo ship crashed into the bridge following a power failure. Despite issuing an SOS, it was unable to avoid collision. The impact caused a section to give way and fall into the water below. Small businesses relying on the Key Bridge for transportation may face disruptions impacting daily operations. Access to supplies and serving clients becomes challenging, potentially leading to financial losses. The collapse directly affects businesses ..read more

How do I accept PayPal Payments in my store? Merchants can offer PayPal as a method for in-store purchases in several ways. Enabling these options in your point-of-sale (POS) system allows your customers to use their preferred payment method, which can help you drive more sales. Using PayPal via Mobile Wallet Customers can easily add PayPal to their mobile wallet for in-store purchases by linking their PayPal account to a mobile payment app like Apple Pay, Google Pay, or Samsung Pay. Once the PayPal account is linked, customers can tap their phone at the store’s contactless payment terminal t ..read more

What does it mean to Bid on a Construction Job? Bidding on a construction job involves submitting a proposal to compete for project opportunities. It is crucial to consider terms, procedures, and risks in the industry. Contractors aim to secure projects through competitive pricing and quality proposals. Differentiating between bid and negotiated tendering is essential. In bidding, general contractors submit their best price based on project requirements, fostering competition. On the other hand, the negotiated tendering process involves discussions to agree on terms before finalizing contract ..read more

What Percentage of Business Fail? According the recent data from the Bureau of Labor Statistics states that business failure rates are as follows: First-year failure rate: 20.8% Three-year failure rate: 40% Five-year failure rate: 49.9% 10-year failure rate: 65.8% 15-year failure rate: 73.3% 20-year failure rate: 80% Yearly small business failure rates provide crucial insights into the percentage of businesses that do not survive. These rates fluctuate, with statistics showing varying year failure rates. If you’re starting your own business, you’ve likely heard people say, “Most new busines ..read more

What is a Fictitious Business Name? A fictitious business name (FBN), also known as an assumed business name (ABN) or doing business as (DBA) name, is a name that a company uses instead of its official legal name. Think of it as a business’s alter ego. In most cases, business owners must file a fictitious business name statement to notify the public and legal authorities. This step helps prevent confusion and ensures transparency regarding the true business entity behind the name. Business owners, corporations, and sole proprietorships must register their fictitious names to comply with legal ..read more