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how to start up a business?
capital?
planning?
what kind of business?
location?
drawing skecth of your business office or restaurant or bar?

2006-08-09 04:04:40 · 3 answers · asked by reynard s 1 in Science & Mathematics Engineering

3 answers

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.

Research, research, research – this cannot be stressed enough. Read as much as you can. Here are some book titles that are relevant:

* How to Really Start Your Own Business, Fourth Edition by David E. Gumpert
* How to Really Create a Successful Business Plan: Step-by-Step Guide by David E. Gumpert
* What No One Ever Tells You about Starting Your Own Business: Real-Life Start-Up Advice from 101 Successful Entrepreneurs (What No One Ever Tells You About Starting Your Own Business) by Jan Norman
* Business Start-Up Kit by Steven D. Strauss
* Start Your Own Business (Entrepreneur Magazine's Start Up) by Rieva Lesonsky

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

2006-08-09 05:33:13 · answer #1 · answered by TM Express™ 7 · 0 0

There is no business plan that is suited to all businesses. You should probably read some books on the subject to start figuring out the details, but the basic steps are this:

1. Figure out what you're going to sell
2. Do market surveys to figure out how much you can sell it for
3. Estimate your cost of production (product or service)
4. Take the difference to estimate your profits
5. Cut the profits in half because you screwed up your estimates
6. Is it worth doing? if yes...
7. Can you do it on your own, or do you need partners? If you CAN do it on your own, then don't get partners just for emotional support.
8. Determine the business model; sole proprieter, partnership, limited liability corporation, s corp, c corp, etc.
9. Incorporate in the appropriate state (if incorporating), or set up a DBA with your county registar
10. Get a tax ID from the state comptroller (primarily for DBA, this is usually automatic for incorporation)
11. Get a business bank account (and fund it), and business cards. Keep your business accounting seperate from personal accounting. Not legally necessary for sole proprietership, but it will help you determine profitability even in that case.
12. Determine several possible locations based on where your customers are located. Find out rents. Most leasing businesses will provide you with a "finish out" allowance. This is basically a loan that get's rolled into your monthly rental payment and can be used for physical changes to the facility, walls, flooring, lighting, HVAC, plumbing, etc. - anything part of the permanent structure.
13. Determine actual costs of any equipment and office furniture, supplies, etc you will need
14. If you will have employees, figure out how much they will cost you. The cost to you is higher than their pay, because you have to pay the employer's share of SS, and possibly state taxes as well.
15. Price liability insurance for your business, and renters insurance for everything at your place of business
16. Talk to accountants and get pricing information from them for the books and payroll and inventory.
17. Get refined estimates of other monthly expenses such as electricity, phone, shipping and receiving, etc
18. Rerun your profit numbers using all this information; does it still make sense?
19. Put all this information down on paper; that's basically your business plan.
20. Get financing if needed to get past the startup costs, and to pay the monthly costs for 1 year under the assumption you will have no sales at all for a year.

2006-08-09 11:34:02 · answer #2 · answered by lenny 7 · 0 0

The first thing you would want to do is select the type of business. One way to accomplish it is by looking at opportunities in the area you are familiar/comfrotable with.
Once you have decided the type, you could now find out exactly how much it will cost to open one up! Be sure to take everything into calculation (leasing, buying, financing costs, inventory costs, labor costs, your opportunity cost)

If you have an innovative idea, you could pitch it in fornt of some friends you know, if they are interested. Banks are a good source of capital if you have enough collateral to put forth.

Planning and location depend of the type of business you would like to open. things to take into consideration is accesibility to that location, # of competetors, amount of traffic daily, downtown location? , weather, labor and property costs at that location, and so on...

You seem to have too many unknowns right now. If you could decide on one question above, then all other answers can be solved for!

Good luck!!

2006-08-09 11:19:01 · answer #3 · answered by swapnil 2 · 0 0

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