Let’s Tax Those Darn Private Jet Owners

Recently Congress passed a bill on the debt ceiling increase, and while many are cheering, there is more to the story.

As an average American, you may look at those fortunate enough to own a private jet as greedy or having an easy life. You may be frustrated with the amount you are spending in taxes and feel as if those darn private jet owners get away with not paying as much. This is not exactly true.

Many of these individuals run or own companies that employee hundreds of people. They are providing health plans and financial benefits to their employees. Many of these individuals create charities to give back to the community (and yes as a tax break)! However, even if they benefit from their charitable contributions, the community benefits more. By creating charities, the community is served and more jobs are created. When we focus on taxing the rich, we force things like job cuts, benefit decreases and poorer working conditions.

There is definitely a spending problem in America, but heavily taxing the rich may not be the solution.

Turn the key for a powerful business

What author Michael Gerber (The E Myth) calls “The Turn-Key Revolution” began in the 1950’s with the McDonald brothers. Ray Kroc took notice of how efficiently and rapidly the brothers prepared their burgers and how fast people lined up to be served. Fast forward about 60 years and there are more than 30,000 Mickey D’s around the world.

What makes this concept so successful...It works!

Every company has a way of doing things. We typically hear this called policies and procedures. In a turn-key business, or franchise, these policies and procedures are extremely detailed. How to run the business is laid out step by step and allows the owner to focus on things like customer satisfaction and retention. Customers of turn-key businesses love the consistency they receive. No matter what McDonald’s you go to, a Big Mac is a Big Mac.

While some of the most successful turn-key companies are in food service, they are not limited to this market. There are several service industries that are turn-key as well. Many can be operated from home, or in a small office space, with minimal employees. Studies show that almost 8 out of 10 franchise businesses will survive 5 years verses start-ups which typically fail in the first 2 years (4 out of 5).

So if you are considering business ownership, consider a turn-key business or franchise. But take note, the success is in you!