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What the best tips to start a busniess (Small)?
I am thinking about starting a busniess store here in Southern ohio, which that hearing impaired and Vision impaired really need for their things. I have never open a busniess before but I thought it would be nice. I would love to start one around for my area.
Thanks
4 Answers
- mstrobertLv 51 decade agoFavorite Answer
Wow there are so many things, but here are a few simple ones.
1) Money. you need lost more than you are even thinking.
2) location. location location. what is your facility and untility cost?
3) employees how are you going to find them.
4) employees what are you going to pay them
5) employees workers comp insurance
6) employees. medical???
Ok, now you can think about what you are going to sell and how much you are going to make off it.
- 1 decade ago
First thing to do is draw up a plan and a budget and see if you are able to make it work financially. A good idea needs a lot of capital and passion to see you through the hard times.
I have just closed a business which had $100,000 invested into it but did not have the passion or further capital to keep it going.
It it is really a very big decision and requires some serious thought and counsel from an Accountant and financial advisor and probably the bank as well, don't just rely on friends advice or your own desire to start a business.