2616, RE: Scared!! Posted by bizdev, Wed Jun-18-08 08:49 AM
I answered your question on another thread...let me copy here:
Well, at least you're realistic enough to be scared. You have good reason to be scared. A brand new business, especially a retail shop, can be very costly and very difficult to keep afloat. You would likely not make a profit for the first couple of years (or longer). Just meeting monthly expenses can be difficult for a new start up.
Have you started to write up a business plan yet? That should be your first project to find out if the idea is viable.
Do you have a good $50,000 - $100,000 for start up costs? Surprisingly, even a small clothing shop will run you that much just to open. It will then take a while to develop a strong enough customer base to cover your monthly expenses. You will need to have set aside enough cash to get you through the first year or so.
I offer so much great information in my start up kit (below) that could really help you decide which way to go. Take a peek.
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