? asked in Business & FinanceSmall Business · 1 decade ago

I`m curious if I could start a small store and what would be involved?

--I am a people person

--I have a varied education with a Master`s degree

--I am 51

--I have no job and need a career change

--I have excellent credit

--I have 100k+ in real estate right now

--I am open to various suggestions

2 Answers

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  • 1 decade ago
    Favorite Answer

    1. Make a business plan. A plan will help you get organized. A business lists everything in your business that you would want to include like employees, marketing, accounting, etc. You can find examples of business plans online or from books. You can find business plan templates in your computer (Microsoft Office). Just type in the information and then print it out. http://office.microsoft.com/en-us/templates/TC0101...

    2. Accounting and Profits. Who is handling the finances? You or an employer? What prices are you offering? Consider the competition's prices as well. Think about discounts or low costs.

    3. Marketing. Contact an advertisement agency and decide how the ad is going to look. Usually, they'll help you. But there are other ways for you to advertise: networking, word of mouth, customer referrals, yellow pages directories, television, radio, outdoor (roadside billboards), print, email marketing, and internet.

    4. Learn some principals in Economics. Learning about Economics can help you understand demand and supply. Economics and business go hand in hand.

    5. Competition. Who are your competitors? What makes your business stand out from the rest? What makes people want your services?

    6. Start up costs. The start up cost is the amount of money that you will need to start your own business. For example, buying the equipment. It's very expensive to own a business.

    7. Get your location and your business permit. Find empty storefronts. This link that I provided will help you on obtaining a business license: http://www.cityapplications.com/business-licenses....

    Source(s): Those are just the basic concepts that you'll need for starting a business. You should read books on entrepreneurship to gain a more understanding of the business world.
  • 1 decade ago

    first u have to be associated with another person so it can help u with the store. Involve all sored of things in the store, things that are usually used with frequency, necessary things.

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