How do I go about starting my own business.?

Question

Something like footlocker, just something small. Something I can open up to where no one knows about.

Answer 1

You want to start a shoe store?

First thing: Go find a huge pile of money. You are going to need it. You are talking about a very, VERY tough business to be in. You are going to require tons of up front cash for store buildout, fixtures and inventory.

Honestly, you need to find something else. This is not a good business for someone just starting out with no experience. If nothing else, get a job at Footlocker and work there for a year. Try to learn the business from the inside out.

Answer 2

I think it is unrealistic to say you want "no one to know about your business"... if that is the case, why go into business? You will not make any money.

Even the smallest of businesses require some type of advertising, be it local, regional, or national. Without a marketing strategy, you simply will not succeed.

Retail business (or product based businesses) are damned near impossible to start up without a huge influx of cash --- whether that's from angel investors or venture capitalists or if you have real good credit, business loans --- that you can use to set up shop and outline a marketing and business plan to execute.

The first thing you want to do when you think about starting a new business is learn everything you can about the industry that you plan on going into. This includes researching competitors to find out what they are doing right, and what they are doing wrong. You also want to research the type of customers you will want to attract, such as demographics. Another important aspect of a retail business is of course location. You must become intimately aware of these things and more...