Create Your Ideal Lifestyle

Lifestyle reflects our beliefs, attitudes, customs, behaviors, and values. A lifestyle can fill us with joy, keep us healthy, and allow us to become more successful. It can also contribute to illness or hold us back from the things we are capable of accomplishing.Fortunately, we can choose actions and habits that keep us happy, healthy, and successful. We have that choice daily.Maltbie Babcock summarized this very elegantly when she wrote, “A day dawns, quite like other days; in it, a single hour comes, quite like other hours; but in that day and in that hour the chance of a lifetime faces us.”That chance, however, presents a challenge. A familiar lifestyle is not easy to leave behind, even when negative habits or tolerations make it uncomfortable. Doug Firebaugh wisely said, “Something must die in order to grow – your old habits, your old self image, your old thinking, your old life… must be weeded out for the seeds of success to grow.”People want to be free from the consequences of their vices, but not necessarily from their vices. Many attempt changes that are too large to be realistic. Others try to change too many things at once. Old behaviors creep back very quickly.For example, if it would burden you to carry out a new action on a regular basis, it is probably not a realistic change. Smaller changes carried out regularly more often lead to lasting change. Begin with one new action that can become a regular lifestyle behavior. Then look for tangible results from that change.If you are not already living your ideal lifestyle, take time to think deeply about the following questions. Then write your answers in a journal. This exercise will help you create a clear picture of your ideal lifestyle. It will also help you to design a plan to begin creating the lifestyle that you want.What is my current lifestyle?How have my beliefs created that lifestyle?What is my current lifestyle costing me?If my lifestyle were to become ideal, what differences would I notice immediately in the major areas of my life?For example, what would you be doing differently on a daily basis? What habits would you adopt, and what habits would you discard? Consider the changes you would notice in these areas:

Relationships (Family and Career)
Home environment
Wellness and self-care
Energy level
Serenity and inner stillness
Finances
Rest and relaxation
Temperament
Happiness and contentment
How would I look and feel most of the time if I lived my ideal lifestyle?What tolerations, habits of thought, and actions are limiting me from living my ideal lifestyle?What would it require of me to remove those limitations?What is the first thing in my current lifestyle that I would truly like to change or improve?Am I willing to commit to the necessary changes in thought and action to live my ideal lifestyle, and if so, when will I begin to make the first change?How will I feel when I have adopted new habits of thought and action?What is one positive change I could comfortably make today?This exercise will open your mind to the possibilities and options available to you for positive change. When you have a clear picture of your goal and the changes needed, you can begin moving forward toward a lifestyle that will bring you more success in all the important areas of your life.These questions might lead to additional questions you will need to answer. You will need to evaluate your progress on a regular basis, make changes in your initial plan, and adjust your actions accordingly. A professional life strategies coach can also help you to expand these questions to a deeper level, find necessary answers, and design a plan to achieve the lifestyle you want.Envision your ideal lifestyle. Determine necessary changes, and design a realistic plan to achieve your vision. Then make at least one small change in your thoughts and actions immediately. These suggestions will help you begin moving toward your ideal lifestyle today.

How to Finance a Franchise

Whether you write a personal check, use the equity in your home, use your 401K money or get a commercial loan, one way or the other, you’re financing your franchise. Financing it the right way is critical to your long term success. It might not be as critical as finding the right locations, but it’s close.Generally speaking, in financing your franchise business, you have three basic options:

Option I: Finance it out of your own pocket, either by writing a check from savings, cashing out retirement assets, or some other means,

Option II: Take out a loan secured by your personal assets, such as an equity loan or an SBA loan, or

Option III: Take out a commercial business loan for franchise financing.
Each option has its pros and cons. The best option for you will be based on several different factors, including the goals you have for your new business. One option might be best if your goal is to open a single location, another if your goal is to open several in a given time frame. What follows is a discussion of the various options and how one might or might not be the best one for you. It is our goal to help you make the best decision possible, based on your current situation and on your goals. Options for Franchise Financing Option I: Finance it out of your own pocket If your objective is to open only one location and you have the liquid cash to open it and get it to profitability, this is not a bad choice. You will lose the interest earned on your money, but avoid the interest cost of borrowing. If you plan to open more than one location and have the resources to get them all to profitability, again, this may not be a bad choice.However, if you have the resources to open the first location, and plan to rely on using cash flow from the first one to open the second, third, etc, be careful. Remember, if you have cash in the bank or equity in your personal assets, you can always use that for working capital or expansions later. If you plan to rely on commercial financing at any time, financing the first one is what gives you the greatest flexibility.That’s the downside of this option. Having your personal money tied up in a business limits your flexibility in the future. You may or may not be able to take advantage of a future opportunity when it comes along. Many books are available that discuss the value of using OPM (Other People’s Money) in opening and growing a successful business.Option II: Take out a loan secured by your personal assets This Option provides greater flexibility than Option I. Your liquid assets remain liquid giving you the ability to respond as needed to changing business requirements. The net, after tax difference between interest earned and interest paid can be low making this a viable alternative to Option I.The downside of this Option comes in two forms: (1) tying up the personal assets you pledge as security, and (2) the true, all-in cost of the financing.Tying up your personal assets limits your choice and flexibility in the future. As an example, we recently funded a 2nd location for a certain franchisee. He had taken out an SBA loan for his first location using his home a security. He knew the lender was also filing a lien against his first location but no one thought this would be a problem since we planned to secure our loan with only his new location.What we discovered during the title search was that when the original lender filed their lien against the franchisee’s business, they listed the location they were financing and included the phrase “all future locations” in the lien filing. Those three little words meant that any and all locations this franchisee would open at any time in the future were going to be considered security against his original loan! We were eventually able to resolve this but needed to negotiate a subordination agreement with the original lender.The lesson here is to be very careful about what the lender actually uses as security on the loan because it may limit your options in the future.In terms of the true, all-in cost of the financing, this can be a complex subject. Unfortunately, some lenders like it that way. They will quote a low interest rate but not the points and loan fees involved. They won’t take the time to educate a borrower on the differences between variable rate financing and fixed rate financing. They won’t fully disclose all the charges that are incurred during the life of the loan.The lesson here is to get everything in writing and review it with a trusted advisor. Most reputable lenders will issue a proposal or term sheet that includes detailed information about payments, fees, terms, security, etc.Option III: Take out a commercial business loan for franchise financing. This option tends to offer the greatest flexibility to most franchisees. Franchise loans are typically secured only with the assets of the franchise, leaving all personal assets unencumbered. Pay close attention to what franchise assets are being used as security (See the story under option II).In terms of the true, all-in cost of this type of financing, as we mentioned under Option II, this can be a complex subject. All of the items mentioned in connection with Option II apply here with option III. Get proposals in writing, review those proposals with a trusted advisor, and make a fully informed decision.About InSource Capital Services, Inc. We specialize in franchise financing. As proud members of our local Better Business Bureau and the NAELB, we promote and subscribe to a Business Code of Ethics. We are committed to “raising the bar” when it comes to fair and honest business dealings with all of our clients and business partners.Features of our Franchise Financing programs include:
Fixed rate loans to 84 months
No outside collateral, other than the assets of the franchise and your good credit
Pre-Funding, we can pay your Vendors directly
Credit approvals in as little as 5 working days.
Our commitments to all members of the franchise community include:
Fast Turnaround Times
Clear Answers to your Questions
Competitive Rates
Honesty & Integrity
Finding a Way to get the job done!

A Guide to Help You Pick the Best Air Purifier for Your Loved Ones

Holidays are around the corner. This is the time of year when people start purchasing gifts for their loved ones. If you are going to purchase an air purifier for someone you love, we have some helpful tips for you. If you want to purchase the best unit, you may be able to use this guide to your advantage. Read on to find out more.

1: Set Your Budget

Just like anything you purchase, make sure you have set your budget first. The price of the unit will vary based on a lot of factors, such as the capacity, filter type, features, and brand of the unit. If you don’t have a flexible budget, we suggest that you go for a product that is available to purchase for less than $300.

2: Consider the Needs of the Recipient

Your next move is to consider the needs of your recipient. If you are going to purchase this unit for everyday use, we suggest that you go for a unit that comes with a HEPA filter. On the other hand, if your loved one has a specific need, we suggest that you consider a specialized unit.

For example, if they are more prone to respiratory issues, such as allergies and infections, we suggest that you get a UV purifier for them. The devices are designed to neutralize viruses and bacteria.

3: Think About the Available Space

Another primary factor is to consider the available space in the office or house of the recipient. For example, if they need a general-purpose unit for a small apartment, you may want to consider a filterless unit.

On the other hand, if they have plenty of free space, you may consider a bigger unit that features a higher airflow rating. These units are powerful enough to cover a large face.

4: Consider Extra Features

Lastly, we suggest that you consider additional features that they will just love. For example, some units come with an indicator that turns on when the filter needs to be replaced. This will allow the user to change the filter so that the device continues to work properly.

So, you may want to consider these features before you place your order. These features may not be important to you, but your friend may just be over the moon.

Long story short, we suggest that you consider these four tips if you are going to purchase a gift for your loved one on these holidays. Since the air is full of pollution during winter days, nothing can make a better gift than an air purifier. Therefore, you should consider these tips before looking for an online or physical store to make your purchase decision.