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How do I start a business?

Now, I understand this question has been asked multiple times by multiple different people, but the reason I am asking is because I hope someone has specific answers, or an answer that would lead me down the right path. My partner and I would like to open an business, so there would be two owners to this business. The company would be based out of Michigan (since that is where we live) and it would be a business that is set up through the internet. Preferably we would sell our product to small stores around the area who would sell it at their store and collect the sales tax, etc.

What steps should I take to open a business like this? Do you have an estimate of a price (permits and licenses (if any)).

Thank you, your answers would really help me out.

5 Answers

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  • Anonymous
    1 decade ago
    Favorite Answer

    Starting a business is very expensive. You have to do your research. The best tools to use is google search engine. Just type google into your browser and once you get to google just ask the questions you want answers to. Just input the question you ask here and you will get all type of information on how to start a business. Are you can check out ehow.com. Just type in the question you want information on and it will give you answers. I have a website you might want to check out. If you start as an affiliate it want cost you a lot of money. Here is my site you can check out it has a lot of information about affiliate business and starting your own business on the internet. Go here and check it out:http://www.maverickmoneymakerbills.com./ If you do not use it. Tell your family and friends who is interesting in starting a business on the internet.

  • 1 decade ago

    Depending on the complexity of the product you are selling. Franchising your product may be the best way to go if your product is unique or has the potential to be successful such as when Colonel Sanders franchised his chicken recipe which is now renowned today as Kentucky Fried Chicken(KFC)

    Start by making sure your product/business is in compliance with your state Franchise law, then hire an attorney to help create your Uniform Franchise Offering Circular (UFOC) which is a regulatory document that provides the details of a particular franchise opportunity that all prospective Franchisee's must abide to.

    The last step to receive official clearance to offer your Franchise opportunity is to

    request a financial audit from a licensed accountant as most states will require proof of a financial potential in a given product.

    Once you’ve evaluated these three crucial steps and decided that your product is worth getting the recognition it deserves through Franchising then you can carry on through the rest two steps which is just mainly paperwork after you’ve complied with all conditions and requirements as mentioned in the last three steps.

    Then you can finally test your product’s true potential by marketing your Franchise opportunity on a newspaper, magazine advertisements, and inexpensive ways by promoting on famous Franchise portals such as RedHotFranchises, Franchise.com, Franchise Opportunities and more, just Franchise portals alone has a potential to draw in hundreds of prospective Franchisee’s on a daily basis.

    Otherwise you can also acquire a patent for your product to protect intellectual property theft. This happens all the time. Telling your idea to the wrong person without first acquiring a patent could very well be the next World’s Richest Man, and this is what Bill Gates did when Steve Jobs was just sharing too much information with him.

    About Me

    3 year Franchisee for Captain Tony's Pizza & Pasta Emporium and Franchise Lawyer

  • ?
    Lv 4
    5 years ago

    I propose you learn "Skip College: Go Into Business for Yourself." It's an e-book, and the hyperlink is connected. There are tons of examples given, and approaches to maintain it functional. You are most likely ancient sufficient to begin your possess industry, however you absolutely want a plan. You additionally have to uncover some thing you are passionate approximately - you can be much more likely to revel in it, and much more likely to make a well dwelling. Also, recollect that you can certainly not cross mistaken serving to different humans make THEIR desires come real.

  • Henry
    Lv 7
    1 decade ago

    You need to complete a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis and write a business plan to prove that the business idea is viable. Go to http://sba.gov/smallbusinessplanner/plan/writeabus... or http://www.score.org/template_gallery.html for instructions on how to write a business plan and sample business plans.

    Then, Go to http://www.score.org/ and in the upper left hand corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a volunteer SCORE counselor. They will guide you through the process.

    SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide and is a resource partner with the U.S. Small Business Administration (SBA).

    SCORE has 350 chapters in locations throughout the United States and its territories, with 13,000 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors.

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  • Anonymous
    1 decade ago

    To become successful business in India or anywhere in the world.It is better to follow some tips :

    Determine how you'll make a profit

    Start with as much of your own money as possible

    Allocate time for research.

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