Category Archives: Self-employed

Entrepreneur’s Startups Magazine Names National Property Inspections, Inc., a Top Franchise for Less Than $50K

NPI made Startups Top 100 Franchises For Less Than $50,000 in its Spring 2017 issue

National Property Inspections, Inc., parent company of National Property Inspections in the United States and Global Property Inspections in Canada, is honored to be included in Entrepreneur’s Startups Top 100 For Less Than $50.000 list. NPI has been ranked 30 out of 100 fellow franchisors in the price group.

The rankings are based on the scores received in the annual Franchise 500 ranking. NPI has been recognized for its exceptional performance in areas including financial strength and stability, growth rate and brand power.

The key factors that go into Entrepreneur’s evaluation include costs and fees, size and growth, support, brand strength, and financial strength and stability. All franchises are given a cumulative score based on more than 150 data points.

“What an excitement and honor to be a part of Startups top 100 list,” said Roland Bates, president of National Property Inspections, Inc. “We are featured on many top franchise lists every year, and Entrepreneur’s is one of the most prestigious. We have always worked hard to make NPI and GPI a top, and affordable, franchise opportunity in the United States and Canada and we will continue to provide a great avenue for entrepreneurs to grow and become successful.”

To learn more about an NPI or GPI franchise opportunity in your area, click one of the links below:

NPI/GPI Prepares to Celebrate 30 Years by Remembering First Franchisee

By Roland Bates, President, NPI/GPI

Roland Bates, president and founder of National Property Inspections, Inc.

Roland Bates, president and founder of National Property Inspections, Inc.

It will soon be 30 years since I sold the first NPI franchise. I am pleased to say that franchisee, Clyde Yost, is still with us. The first franchise is certainly the hardest one to sell. You are selling your idea, and at that point, no one other than you has any reason to believe that your idea and business plan can be duplicated.

If you walk into the National Property Inspections, Inc., corporate office today, it is well-decorated, has nice furnishings, provides a professional training room, and has all the amenities we need to operate our business. We are successful, and our office shows that. Let’s turn back the clock 30 years:

Back in 1987, I had rented a small office and purchased a few furnishings. To describe the office as “Spartan frugality” would have been generous, indeed. When Clyde Yost first visited, I think I was sitting at a folding card table. For sure, I was sitting with a small electric typewriter and typing book because I was teaching myself how to type. That paid off because now I can type most three- and four-letter words without looking at the keyboard.

After Clyde and I visited about how I’d been doing inspections myself and thought the property inspection business was poised to take off, I told him I wanted to franchise it. I explained how the franchise would work, how I hoped to help him and others build an NPI business.

Clyde naturally asked, “How many franchisees do you currently have?” To which I replied, “You and two others will make three.” Clyde has a good sense of humor and thought that was sort of funny.

Clyde Yost, NPI's first franchisee, remains a franchise owner in Kansas City, Missouri.

Clyde Yost, NPI’s first franchisee, remains a franchise owner in Kansas City, Missouri.

Clyde believed in the NPI concept and became our first franchisee. Without sounding maudlin, Clyde had worked hard for his money, and I felt more than obligated to make this company successful for him, if not for myself. To this day, I try to keep all of our franchisees in mind, and I feel indebted to all of them. But I’ll admit that many of the business decisions I have made over the years I have made with Clyde and our very first meeting in mind.

Maybe there would have been an NPI without Clyde, but it certainly wouldn’t be the same. Clyde, my friend, thank you for believing in me and for everything you have done for NPI.

We have franchises available in your area. To learn more about an NPI or GPI franchise opportunity, click one of the links below:

5 Small-business Marketing Tips From a ‘Shark’

HerjavecIf you watch ABC’s “Shark Tank,” then you are likely familiar with Robert Herjavec. Born in eastern Europe, Herjavec and his family immigrated to Canada when he was a boy to escape communism in the former Yugoslavia (now Croatia). The son of a factory worker, Herjavec emerged from humble beginnings to build and sell several companies in the IT industry. Today, his company, Herjavec Group, is recognized as a global leader in information security services.

Like many small-business owners, Herjavec started with very little — and he didn’t have a business degree. But his is a success story that proves that determination, hard work and commitment pay off in the end. Now, besides running Herjavec Group, he helps small-business entrepreneurs and start-ups take their businesses to the next level on “Shark Tank.”

It’s no wonder, then, that entrepreneurs and small-business owners are interested in what they can learn from Herjavec. Recently, Entrepreneur sat down with him and asked for his top five small-business marketing tips:

  1. Target your customers on social media.
  2. Make selling online a key part of your business model.
  3. Make your website and marketing materials visually appealing.
  4. Market to your customers in ways they are receptive to.
  5. As your business grows, hire marketing assistance.

Click here to read the full article on Entrepreneur.com.

Why Every Business Owner Needs a Mentor

By Roland Bates, President, NPI/GPI

Mentoring_shutterstock_189356114Several years ago, I read a white paper that said that about 70 percent of the decisions a business owner makes ultimately prove to be wrong. (That 70 percent is the number in the report; that is not a typo.) That’s a lot of zigzagging to get from Point A to Point B.

Imagine how much more successful business owners could be and how much faster they could grow their businesses if they reduced their errors to just 35 percent. Suffice it to say, reducing mistakes or eliminating some of the trial and error can make a huge difference.

For this reason, all new business owners should seek out at least one mentor. A mentor does not have the emotional attachment to the business that a new business owner likely has; thus, he or she can look at your business objectively. A mentor also has experience and can advise you away from making certain mistakes. A mentor who is truly interested in helping you will go out of their way to do so. Sometimes the introductions a mentor can make for you so you can expand your network are more than enough reason to seek them out.

Our role at National Property Inspections, Inc., is that of a mentor to our franchise owners, although we also encourage our franchisees to seek out one or more mentors where they live. As a franchisor, we have a proven business model, and we can help advise franchise owners on what works and what doesn’t so they can avoid so much trial and error as they start their businesses.

With that said, and as an aside, wouldn’t it be great if teenagers would listen to Mom and Dad’s advice and mentoring? Oh, well, we can dream, can’t we?

Roland PhotoRoland Bates’ high energy, willingness to work hard and optimistic outlook are the cornerstones of success for NPI and GPI. His easy manner and family attitude inspire a friendly and close atmosphere at the company. Before he founded NPI/GPI in 1987, Roland owned a general contracting company, where he worked for eight years as a general contractor. Prior to that, he spent five years as a property claims supervisor and regional claims manager.

To learn more about an NPI or GPI franchise opportunity in your area, click one of the links below:

Self-employment Tax Mistakes

RE0025Some business owners attempt to save money by preparing their own taxes. In the end, they actually may pay more in taxes than are necessary, or they may underpay, which could result in losing hundreds or thousands of dollars.

According to an article published by Tyler Martin, CPA, here’s a list of things business owners commonly forget on their taxes:

Deduct Advertising and Promotion Costs. This includes media, Internet and any other advertising that promotes your business. It would also include novelty items or promotional gifts, such as coffee cups, t-shirts and pens with your company name or logo on them.

Deduct Dues and Subscriptions. This includes magazines and periodicals that are necessary for your business, as well as membership fees paid to any business-related organization.

Deduct Licenses and Permits. If your city requires a business license, make sure to deduct the cost of it.

Deduct Business-related Internet Costs. If you use the Internet for your business or have a website, then there is a good chance some or all of your Internet bill is deductible.

Deduct Business-related Cellular and Telephone Expenses. Calls or lines for business purposes are all deductible.

Deduct Office Supplies. Office supplies used for your business are deductible.

Deduct Business-related Meals and Entertainment. Do you take clients out to lunch or dinner to discuss business? If so, 50 percent of these costs is deductible.

Deduct Business-related Travel. Whether it’s airfare and hotel costs to attend a trade show or the cost of gas to drive to training or an industry event, you can deduct these expenses.

Deduct Business-related Auto Expenses. There are couple of ways you can deduct auto expenses, such as tracking your mileage or deducting the cost of a vehicle dedicated solely to your business. It’s best to consult a tax expert to determine how much you should deduct.

Deduct Business-related Electronic Equipment. Computers, printers and smartphones used for business are partially or fully deductible.

Deduct Outside Services. Costs related to your business, such as tax and accounting help, are typically deductible.

Pay Self-employment Tax. If you are a newly self-employed person, you may not be aware that you will be responsible for a new tax: self-employment tax. It can add to your tax bill quickly, so make sure you understand how the tax is computed and plan your cash flow accordingly.

Pay Payroll Taxes: If you operate your business solo as owner and operator, then you may have yet to face the complications of payroll taxes. As your business grows and prospers, you may need to hire employees. Payroll taxes can be complicated due to compliance policies and deadlines. Inaccurately paid payroll taxes can, in fact, cause businesses to go “belly up,” according to Jessie Seaman, a licensed tax professional and senior staff associate at Tax Defense Network.

Some of the stress and pressures of calculating or miscalculating taxes that are due can be relieved by outsourcing to a tax professional. The fees incurred to hire a licensed tax professional are relatively cheap in comparison to the potential expenses paid by the business for improperly prepared tax returns.

In addition to considering hiring a professional, it is crucial to keep good records throughout the year, and you can pay taxes quarterly to stay on task. If you are not keeping up with expenses and receipts and/or avoiding deadlines, it will be very difficult to try to accurately run down all documentation and figures that are required in order to file your taxes.