Specialty Truck Financing W/ less than 24hr Approval

Good credit! Tough credit! Ugly credit! No problem! We want your deals dead or alive! ..............Is your present leasing company approving all of your customers? Are you losing too many deals? iNBEE Financial Services has more programs, so you can close more sales today. Call us with all your deals (dead or alive). Those turn downs from your "in-house" financing company, can be approved! Call 636-233-2782 to find out how we turn tuff credit into approvals!

Our simple one page credit application, good for deals up to $250,000 or more, does it all. We don't need financials, tax returns or the other mumbo jumbo. Just send us the credit app. with your dealer quote, and 24 hours later, we can send you the approval.

Check out our supply of used equiptment at:
http://www.currentinventory.net/

Checklist of Basic Franchise Agreement Terms

Franchise agreements vary from franchise to franchise. It would be impossible to identify every term and issue that should be considered in every situation. However, this checklist should be a valuable tool if you’re interested in buying a franchise.
The checklist should be used in conjunction with the franchise agreement—the document that will set out all the terms and conditions that will govern your ownership of the franchise—which will be drafted by the franchisor. You can use this checklist either before you see the franchise agreement, in order to get an idea of what should be in it, or after you have a copy of the agreement, in order to review its terms.
In any event, while you can use the checklist to understand and review a franchise agreement, you shouldn’t sign it until you’ve discussed your options with your attorney.

Issues Pertaining to the Franchise Cost Terms

o What does the initial franchise fee purchase?
o Does it include an ``opening'' inventory of products and supplies?
o What are the payment terms: amount, time of payment, lump sum or installment, financing arrangements, etc.?
o Does the franchisor offer any financing, or offer help in finding financing?
o Are there any deferred balances? If so, who finances and at what interest?
o Is any part or all of the initial fee refundable?
o Does the contract clearly distinguish between ``total cost'' and ``initial fee,'' ``initial cash required,'' or ``initial costs,'' etc.?
o Are there periodic royalties? If so, how much are they and how are they determined?
o How and when are sales and royalties reported, and how are royalties paid?
o If royalty payments are in whole or part payment for services by the franchisor, what services will be provided?
o Are accounting/bookkeeping services included or available?
o How are advertising and promotion costs divided?
o Is a specified amount of working capital required of the franchisee to cover operating costs until profits can be made?
o Must premises be purchased or rented, and are there further conditions on either of these (from franchisor, selected site, etc.)?
o How and by whom will the building be financed, if purchased?
o Does the franchisee have to make a down payment for construction and/or equipment?

Issues Pertaining to the Franchise Location Terms

o Does the franchise apply to a specific geographical area? If so, are the boundaries clearly defined?
o Who has the right to select the site?
o Will other franchisees be permitted to compete in the same area, now or later?
o Is the territory an exclusive one, and is it permanent or subject to reduction or modification under certain conditions?
o Does the franchisee have a first refusal option as to any additional franchises in the original territory if it is not exclusive?
o Does the franchisee have a contractual right to the franchisor's latest products or innovations? If so, at what cost?
o Will the franchisee have the right to use his own property and/or buildings? If not, will the franchisor sell or lease his property to the franchisee?
o Who is responsible for obtaining zoning variances, if required?

Issues Pertaining to the Buildings, Equipment and Supplies Terms

o Are plans and specifications of the building determined by the franchisor? If so, does this control extend to selection of contractor and supervision of construction?
o Are there any restrictions on remodeling or redecorating?
o Must equipment or supplies be purchased from the franchisor or approved supplier, or is the franchisee free to make his own purchases?
o When the franchisee must buy from the franchisor, are sales considered on consignment? Or will they be financed and, if so, under what terms?
o Does the agreement provide for continuing supply and payment of inventory (by whom, under what terms, etc.)?
o Does the franchise agreement bind the franchisee to a minimum purchase quota?
o What controls are spelled out concerning facility appearance, equipment, fixture and furnishings, and maintenance or replacement of the same? Is there any limitation on expenditures involved in any of these?
o Does the franchisor have a group insurance plan? If not, what coverage will be required, at what limits and costs? Does the franchisor require that it be named as an insured party in the franchisee liability coverage?
Issues Pertaining to the Operating Practices Terms

o Must the franchisee participate personally in conducting the business? If so, to what extent and under what specific conditions?
o What degree of control does the franchisor have over franchise operations, particularly in maintaining franchise identity and product quality?
o What continuing management aid, training and assistance will be provided by the franchisor, and are these covered by the service or royalty fee?
o Will advertising be local or national and what will be the cost-sharing arrangement, if any, in either case?
o If local advertising is left to the franchisee, does the franchisor exercise any control over such campaigns or share any costs?
o Does the franchisor provide various promotional materials point-of-purchase, mail programs, etc. and at what cost?
o What are bookkeeping, accounting and reporting requirements, and who pays for what?
o Are sales or service quotas established? If so, what are the penalties for not meeting them?
o Are operating hours and days set forth in the franchise contract?
o Are there any limits as to what is or can be sold?
o Does the franchisor arrange for mass purchasing and is it mandatory for the franchisee to be a participant buyer?
o Who establishes hiring procedures initially and through the franchise term?
Issues Pertaining to Termination and Renewal Terms

o Does the franchisor have absolute privilege of terminating the franchise agreement if certain conditions have not been met, either during the term or at the end?
o Does the franchise agreement spell out the terms under which the franchisor may repurchase the business?
o Does the franchisor have an option or duty to buy any or all of the franchisee's equipment, furnishings, inventory, or other assets in the event the franchise is terminated for good cause, by either party?
o If the preceding situation occurs, how are purchase terms determined?
o Is there provision for independent appraisal? Is any weight given to good will or franchisee equity in the business?
o Does the original agreement include a clause that the repurchase price paid by the franchisor should not exceed the original franchise fee? If so, this eliminates any compensation for good will or equity.
o Under what conditions (illness, etc.) can the franchisee terminate the franchise? In such cases, do termination obligations differ?
o Is the franchisee restricted from engaging in a similar business after termination? If so, for how many years?
o If there is a lease, does it coincide with the franchise term?
o Does the contract provide sufficient time for amortization of capital payments?
o Has the franchisor, as required, provided for return of trademarks, trade names, and other identification symbols and for the removal of all signs bearing the franchisor's name and trademarks?
Other Points To Consider

o Can the franchisee sell the franchised business and assign the franchise agreement to the buyer?
o Is the franchise assignable to heirs, or may it be sold by the franchisee's estate on death or disability?
o Does the lease permit assignment to any permitted assignee of the franchisee?
o How long has the franchisor conducted business in its industry, and how long has it granted franchises?
o How many franchises and company-owned outlets are claimed, and can they be verified?
o If there is a trade name of a well-known person involved in the franchise, is he active, does he have any financial interest, does he receive compensation for work or solely for use of his name, etc.?
o Are all trademarks, trade names, or other marks fully identifiable and distinct, and are they clear of any possible interference or cancellation owing to any pending litigation?
o What is the duration of any patent or copyright material to the franchise? If time is limited, does the franchisor intend to renew, and is this spelled out in the franchise agreement?
o Has the franchisor provided the franchisee with an offering document package meeting FTC rule requirements or the UFOC format?
o Has the franchisor met all state law requirements (registration, escrow or bonding requirements, etc.), if applicable?
o Are there state laws governing franchisor/franchisee relationships, including contract provisions, financing arrangements and terminations? If so, does the contract meet all requirements?

Lease vs. Bank Loan

***Important Note From Our Leasing Director***

Recently I came across an article that I felt needed to be shared with everyone who is business for themselves. Up until I read this article, I wasn't too clear on bank loans myself as I offer equipment leasing. However, I found this to be quite interesting and educational thus the staff here at INBEE Financial agreed we should share it with our clients and potential clients.
The article went something like this -

As a fellow business owner, we are often assaulted with calls from leasing companies and banks in an effort to get our business. I was recently approached by a representative from a fairly large, nationally known bank offering me an enticing proposal. Since they were my very own bank, I decided to lend them my ear and see what they had to say. It went something like this.
"Dear Mr. business owner, I have been authorized by our bank manager to offer you & your Company a preferred rate loan. Your first year carries with it a fixed 7.5% interest rate with no fees.

At the beginning of the following year the rate will only be prime plus 1%, and there will be a fee of only 1% of the entire credit line.

Furthermore, as a result of your commendable credit score and reputation, we are ready to provide you with a loan up to fifty thousand dollars without requiring any sort of financial statement, In addition, we will even provide a business checking account to you and your company free of charge. As needs arise, all you need to do is draft a check for your loan proceeds as you want them. All we require in exchange is that a minimum balance of ten thousand dollars is kept in the account. "With all this in mind it seems that the bank representative has just granted you fifty thousand dollars to work with.

However, upon closer inspection should you require forty thousand dollars for your business you must in turn borrow fifty thousand dollars - forty thousand dollars for your business and ten thousand dollars for the supposedly free checking account in which a minimum balance of ten thousand dollars must be maintained. Or you must provide $10,000 to be applied towards the free checking account associated with this great offer.

Please Note: Even if you normally do keep $10,000 or more in your business account on an average, normally having it in the account and needing to keep it in the account are two entirely different viewpoints and should be noted in this case. Now then, with this forty thousand dollar figure in mind your business must pay interest on fifty thousand dollars, at 7.5% per year the payments on a fifty thousand dollar loan for a three year term are $1,555.31 per month.
Already having received a forty thousand dollar loan and paying the interest for a fifty thousand dollar loan you can expect to pay 23.33%. Furthermore, in year two the interest goes up to prime plus one, not to mention a 1% fee. Even if there were no increases in the prime rate, payments will be $1,652.12 based on a fifty thousand dollar loan, and you are only given use of $39,500. This works out to be an interest rate of 27.59%.

Things that make you go Hmmm?

Business owners must decide whether to lease business equipment or get a loan from a bank to purchase the equipment. According to the Equipment Leasing Association, as many as eight out of ten U.S. businesses choose lease at least some of their business equipment. This is due to the numerous business advantages that leasing plans offer.

Consider the following: Business assets that appreciate in value can be extremely beneficial to own, but assets that depreciate in value should be leased. Leasing the business equipment allows the equipment to pay for itself during the lease term while leaving bank lines and valuable cash untouched (liquid). Leasing business equipment, rather than buying it, offers low upfront costs and leaves your money available for other business and investment opportunities.

Leasing Makes Good Business Sense
Leasing makes good business sense for many reasons including the tax advantages. Depending on how the equipment lease is structured, you may be able to fully deduct lease payments, reducing your taxes. Most businesses can deduct 100% of their lease expenses, while bank loans must be capitalized and depreciate over several years. Simply put, leasing allows you to get the most use of business equipment with the least investment.

Business Advantages of Leasing
Many businesses are now choosing to lease their business equipment, rather than taking out a loan from a bank. It is usually easier as it takes less paperwork and it leaves bank lines available for other business needs. It also leaves your personal credit bureau unencumbered as it is done in the name of the business and establishes business credit rather than personal.
In addition to conserving company capital and maintain existing positive bank credit lines, leasing rather than paying cash also offers numerous tax benefits and savings when put together correctly. If you are working with a "true" lease, your payments can be fully expensed, thus accelerate tax deductions. To learn more about the tax benefits of lease versus purchase, talk with your accountant or CPA to find out what tax benefits are available to you in your state.

View the detailed Tax Benefits of Leasing and IRS Instructions.

When you request an equipment lease from INBEE Financial , you can expect to pay very little or even nothing down. You can even expect to receive fixed payments over the term of the lease or finance agreement. This alone can save you hundreds, if not thousands less than what you could pay should you contract one of these loans mentioned above.
By taking advantage of a "You Design" leasing program from INBEE Financial , you can expect to pay hundreds less than you would with a loan as well as receive additional tax benefits. CONTACT US today to learn more about leasing options for your business.

4 Ways to Attract Success

Sometimes living everyday it’s hard, when going through the motions, to step back and evaluate where you are and where you want to be. There is always something that is important and needs to get finished. As we grow older time seems to fly by and personal time disappears. It’s funny and ironic that: in our personal time we as humans dream, discover, and explore our inner most desires.

So, as the days go on, the time for planning our future is reduced to the carpet that needs replacing and the PRM report need by Friday. Is it possible to find time to dream?

It is in those times of dream, discover, and exploration ideas are created, enterprises are discovered, and communities are changed. If it is true that success attracts success; how do we get the ball rolling with all of the other challenges in our lives? Can a person continue their life, job, and responsibilities and make a difference in the future?

The following and methods used to create success, build wealth, and fulfill dreams

I have discovered 4 ways to get the ball rolling and get on the right track. These methods are for people dedicated to taking the lead in life and are methods used by many of the world’s most successful people.

Read
It seems simple enough, however my suggestions is to read things you are already interested in. By reading you can begin to distort your experience cure. Reading can eliminate many of the problems someone else had in your similar situation. Reading expands your mind and helps you to dream. Reading can be accomplished while standing in line or waiting for an order. I read somewhere that if you read about on topic for thirty min. every day for the next five years, on one topic, by the fifth year you would be an expert on that particular subject.

Write
Keep a note pad and when you have an idea where ever you are jot it down. After six months go back and read through your note pad. If you remember what you were writing about it is probably important to you. Not only is it important to write ideas down on note pads. It’s important to make lists of things needed to be accomplished, and to keep a calendar. It is also important to develop writing skills; it will help with person to person communication.

Investigate
Ask thousand of questions about the things you are interested in. When you do this you first do not come across as a know it all, and second, by asking questions people will begin to realize you are interested in one particular subject and lead you in the direction of answers. People will be on the look out for you. Say you wanted to change the local community center for the better. By asking questions people you know will lead you to where you want to be.

Speak
It is funny that when you share information how much more knowledgeable you become. (A side note: people’s number one fear is public speaking.) Many of the times the things that keep people from accomplishing goals is fear of success. By overcoming your fear of public speaking you are moving psychologically into a transition and therefore able to tear down the mental barrier that keeps you from becoming successful. It is not only important for you to speak but it is also important for you to listen to other speak.

How successful are you?