I have been wanting to open my own buisness for about ten years now. I have come up with several ideas to go with such as a roller skating ring, a hot wing restraunt, a teen hop, an arcade place and a teen clothing shop. After much research, the skating ring is too costly, the hot wing thing is too boring, a teen hop or an arcade place is ok but I am really leaning towards the teen clothing shop. The teen clothing shop seems easier to manage and I have two older sons who can help me with today's fashions. Also, I live in a small town that has a Wal-mart, two clothing stores, one grocery store and three dollar stores. With today's gas prices, many parents can't afford to go out of town which is 60 miles to the nearest mall and buy up to date fashionable teen clothes. I really think this idea could work but I am scared of failure. I have researched some of the distribution companies but I don't know which one to trust. I want my store to carry both boys and girls clothes in today's fashion for all. I am going to have today's music playing in the store with eye catching posters and coupons will be available in the local newspaper for discounts. Still, I am scared of failure.... Oh.. I even have some names, Juvy's, Thumber, Wssup and many more. Of course, these were ideas from my 16 year old.

Patricia Bryan

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.

Sylvia
http://businessplanmentor.com
Business plan and start up resources

Sylvia is right although for every risk there may be a way of offsetting it.

WRITE THE PLAN

Even if no one reads this, its critical for getting your thought together and to make you realise what you in for.

Get as much help as you can. There are numerous places to get coaching and advise so make the most of them. You can use planhq to get your plan online and to collaborate with others if your think that would suit you. Otherwise you can simply download a template from pleantly of other websites.

Here's a critical question to answer honestly...

"Why do you want to start a business?"

If its independance you seek. Consider being self employed instead. It could be a quicker route to happiness for some people. Less complicated. Less risk. Less staffing problems, headaches.....

All that a side, Starting your own business can be hugely rewarding so good luck if you go ahead.

Get you free business systems healthcheck at...

www.davebirchall.com

Don't be scared be smart.

make sure you have a Business and Marketing Plan. Going through this process with wake you up to whether the business is just a dream or a reality.

If you want some ideas how to start just contact me.

Joanna Swank
Marketable Concepts
www.jswank.com
info@jswank.com