I'm planning to start my own business?

Question

I'm thinking of opening my own club I am starting from dirt scratch, I want to buy the land build a building and open my own club. Here's my question. Can someone write for me a detailed description of how I would go about this step by step? Starting with researching the demographics and planning all the way to the end. How much would it cost? How long would it take. THis is asking for alot but hopefully someone out there has started their own business and can help me out. HOw long would it take? Thank you

Answer 1

First it is best to have a corporation established, this protects your investments personal and private. If you are sued your personal assets will be protected. Write your articles of incorporation (type in articles of incorporation on line). Obtain a business plan from the small business association, this is a step by step plan for how you plan to manage your business, and will be needed if you are going to attempt to get a loan. Get a copy of your credit report, this will let you see what the bank sees for the loan. A location is important, seek the county courthouse for traffi counts of the area you have chosen, you will want an area that is easy toaccess and notice. building from the ground up will take longer, seek a building already established, also you must have a business license, this can be obtained from the court house, I am not sure of the cost but it is small. You will also need a liquer license and permits for cooking food (also court house) if you plan to offer this. When you have chosen a location you must look into zoning for the area, if the club is within a zone for this type of business. You will need to establish a business bank account, and in doing so get a EIN number (type in EIN application) this is like a social security number for the business you must have it. Of course hiring of staff is very important, I strongly suggest background checks, also hiring friends or family is a bad idea. You will also have to hire security, off duty police officers are always looking for extra money. You will have to pass all safety codes, and also aquire good insurance. The power, water, etc must be an account established in the business name, also phone, and fax. You must also look into advertisement for the club, such a television, billboards, flyers, and the most free one of all word of mouth. The name must be catchy and represent the atmosphere. You must also establish accounts with vendors for the beverages served. Do not forget surveilance cameras, better safe than sorry. Of course hiring a great band is always a perfect touch. Be sure to write up contractual agreements on what nights they are to play, how much they will be paid, etc. If you just plan a D.J, same thing concerning contract. Oh, if you go sole proprietorship, remember if you get sued the business and your personal assets can be liquidated to dissolve the suit. In a coporation you must have three people ( president meaning you of course, vice president, and secretary). You must obtain tax forms from the state, as you will be paying them different taxes (type in Department of Revenue) for your state. Get quick books, this will make it easy to print out checks, deducting taxes, etc for payroll etc. Look into maybe offering insurance for your emploees as a group call blue cross blue shield. If you feel this is overwhelming, then you can look up different management agencies to do the work for you, but remember you must follow up on how they manage the place and where your money is going. Since you are looking into building from the ground up contact a contractor, they will get the appropriate licenses, etc after the loan is approved,they can begin building. How long it will take them to build the club varies, sometimes 6 months possibly. Also look in community meetings to see if a club will be accepted in the area, better to ask now, than to have a mob of angry people, not wanting your business there. Always have a lawyer on hand, he will help you alot, but watch him too. Always check Identification, you do not need any fines or other problems concerning under aged drinking. i hope this was helpful.
Lisa marie

Answer 2

What type of business are you looking into? Honestly, it is better to start your own from scratch, or branch off from another one. Buying a business can be great, but normally not so. The clientel therein have certain expectations (either good or bad) that could hinder the business' growth under you.

Answer 3

Well that's just kinda dumb...seriously...go to a SCORE office and tell them that idea and they will say "why...there's only dirt cheap buildings everywhere...why would you build you own club any more than you'd build your own car"

Answer 4

how about not, with the way youre looking at it ull just screw it up, and you can thank me for that big debt youll be saving, once youre in its for real, debts etc its not like you can just run out and 'make' a club just imagine if someone sued you u gotta start thinking abuot stuff

Answer 5

Its called a business plan,
Son if you cant figure these things out on your own you have no business being in business.

Answer 6

For demographics see your local chamber of commerce.
They may have additional useful info.

Answer 7

YOU'LL NEED 100,000 DOLLARS TO GREASE THE HANDS OF THE POLITICIANS TO GET ALL THE PERMITS BEFORE YOU DIG THE FIRST SHOVEL FULL OF DIRT.

Answer 8

try this site, they won't do the work for you but they point you in a direction..................

http://www.score.org/