I want to start a bulk food store. I am 22 and my current job doesn't pay enough to get a store up and running so I will have to take out a loan. I have no debts now. What do you recommend as far as a small business loan? Also, any start-up tips for those whole have owned a similar business?
2006-12-08 10:47:59 · 4 answers · asked by Just Sarah 2 in Business & Finance ➔ Small Business
Starting a business is something I've toyed with for a long time, and it's on the horizon for me as soon as I get off my butt and do something about it.
Take a look at the information which is contained in the following site. It's where you'll likely find some of the most useful information related to your question.
2006-12-08 10:50:13 · answer #1 · answered by somewherein72 4 · 0⤊ 0⤋
For the best answers, search on this site https://shorturl.im/axlM5
I don't own a store but somethings to think about: 1) You should assume you're not going to see much business for a few months if not longer. If you don't have the cash to cover that long a period (we're talking a good year or so), then you'll need more funds first. 2) You should definitely look into forming a company (LLC is usually good for small businesses just starting out). You should check with whoever would be regulating that in your state. Doing this will offer some measure of protection in case someone sues you for something business-related. 3) You should check with local ordinances on the sale of produce. You might need to get a license or some sort of approval of the local health department (it'll vary from city/county/state to city/county/state). 4) I'm assuming you're going to want to hire people to help you run this place, so you'll likely need to look into the requirements for employers in your area. 5) You should also look around for any associations (nationally or regionally) that could help you out (try searching for "natural foods association" to see just how many are out there for natural foods alone). Often time, these associations have resources that could help you with some of the aspects of running this sort of business. Also, check out the SBA's site (see source list) and find your local SBA office. You can look into getting loans and other advice on what you need to run your business in your area.
2016-04-11 00:17:04 · answer #2 · answered by ? 4 · 0⤊ 0⤋
DO NOT QUIT YOUR JOB
Start small - bulk food brokering - information services
It is not wise to get a loan until you have exactly the same amount of money saved up as colateral. See if there are some entreprership centers to guide locally
In So Cali - www.iewbc.org
2006-12-08 11:03:38 · answer #3 · answered by Genevieve 1 · 0⤊ 0⤋
Get a bank line of credit.
2006-12-08 10:50:17 · answer #4 · answered by Anonymous · 0⤊ 0⤋