Starting Your Own Business
Minimum investment, opportunity to develop your own "goodwill"
Unproven idea, no management guidelines, full responsibility, takes time to develop, difficult to finance
To be successful you must:
- Choose and research the type of business you want
- Prepare a business and marketing plan
- Find and lease a location
- Purchaser basic equipment and inventory (usually with all cash, no credit)
- Plan a heavy promotional campaign
- Open the doors!
- Be prepared to feed your new business with your own cash for a while
- Generally require two years to break even and approximately twice as much money and time than most people plan
Reasons for buying a business | Starting your own business
Buying an established business | Buying a franchise
| Buyer Groups