I need advice on starting a business?

Question

I am starting a delivery service where I supply restaurants with food and other items. I applied for a sole proprietor business. Now I am not sure what to do, I know I need insurance (any advice on what kind). What else do I need, etc......tax id #, stuff for taxes, umbrella insurance???? Any advice will help. I will drive the truck and run the business for the time being so I would not have any employees. Thanks

Answer 1

I can tell you this right now, you are destined to fail. Here is why. You have begun something (a business) without first doing ALL the legwork necessary to ensure success. You applied to be a sole proprieter. Are you sure you know what this entails? Anyway, after doing so YOU should have then researched insurance costs and availability (wht a qualified insurance agent), applied for a tax ID #, and contacted the local health department. Anyone who handles food (even wrapped) needs to be concerned with this, as well as the type of Driver's License you will need to drive a truck (it's different than a regular Driver's Lisence); also, separate insurance on the vehicle (aside from your personal auto insurance), liability insurance, registering your business name, advertising costs, and a long laundry list of other things on the agenda. Also, an accounting program on computer to keep track of inventory as well as how you will bill your clients, etc. You must fill out quarterly tax statements, have access to an attorney (anyone who starts a legitimate business should have one), etc., etc., etc., etc., and probably have taken a few business courses in this particular venue along the way. The list is endless. Before you ever deliver one piece of merchandise to ANYONE, these and other things must be in place. You DO NOT DO THIS or MAKE IT UP as you go. Starting a business requires at minimum one year of old-dashioned grunt work (setting the wheels in motion) before you ever even put the key into the front door or the truck's ignition. You are ill-prepared and I would go back to square one before you make a total mess of everything. Most new business fail within the first year and the number one reason is being ill prepared and not having done your homework. Oh yes, and if this is by chance a homework question and you use this information, beware. The teacher is not as dumb as you think. Many an individual has come onto Yahoo for answers and many a teacher KNOWS when they are being had.

Answer 2

I can see that you are quite confused . Getting into your own business can be very hectic.I would suggest you to contact an attorney who can help you with all that.If attorneys are expensive for you then you might want to contact a business consultant and the cost will be relatively less expensive.
My company provides those services . You can contact me for more information.Best Regards,
Deepak Advani.
Lic. Real Estate Broker & Financial Business Consultant

Tampa Bay Real Estate Services Inc
Tampa Bay Lending Corporation.
150 E Bloomingdale Avenue ,Suite#146
Brandon FL 33511
Tel: [phone]
Fax:[phone]
wwww.tblsinc.com
www.tbresinc.com

Answer 3

If you want a sit down-face to face with a mentor, contact your local SBA office or SCORE organization. Their members are current and retired business people who can help guide you through things, help you with finding the types of paperwork and such you'll need, and can offer insight into building a business. You get more from a give and take talk session than from doing single questions online, so I'd say check through your local phone book and see who's in your area.

Answer 4

A good online resource... "Go It Alone" is all about starting a small business. Find it here