Start a small business: Square One
by thejuice16 - 12/1/09 11:27 AM
Just want to start out by saying thanks in advance to any help anyone offers.
So for a little background, my name is Scott and I am a college student at Texas Tech in Lubbock, Texas. I am originally from New Jersey, and I have hopes of starting many small businesses in upstate New York. I have many business ideas for the area I am looking at, and just to say now, I am not looking for new ideas as of now, I am looking for advice on how to begin. The town I hope to start in, preferably stay in, is a historical town that has been run down over the years. I hope to start out by purchasing one building on the main street, convert it back to its original form and start most likely a book store. Over time I will purchase more and more, with the goal of revamping this town to its original, historical looking self. (This town is in and around big summer tourist spots, so the summer is the main time of year for business) Other ventures would be starting a bar, ice cream shop, barber shop, and other small town fixtures that its lacking. In the end I would be a real estate developer for small time projects. (No big city stuff!)
What I have done so far is contact the Chamber of Commerce in this town, in which I have their full support, as they desire what I desire which is a big plus on my end. I have also researched commercial buildings for sale, and I have found the perfect building for my first venture. The building is listed at $199,000, as it was just reduced. I would anticipate that price, but hope to drop it more as I see they are willing to negotiate do to retirement. I have begun writing a business plan, but to me it does not seem that great. I never took business courses here in college which i probably should have, but if anyone has any good templates and advice on what to put in the business plan I would be greatly appreciative. Also my major concern deals with money... Big surprise there ehh? I am a college student who has piled on many debts that come with being in college and I was wondering if anyone had advice on how to begin. I know the economy is **** poor, but my hopes were to try and take advantage of a down economy. ie cheaper real estate, cheaper product, etc. It just seems as though its impossible to do anything without having your own finances to back it. Does anyone have any advice on how to get the finances needed to back it? My only idea is being I am in college now, start an online bookstore, and bank all the money I get from that. The only problem is, I am not really sure where to start with that. I have sold stuff on Ebay in the past, but that seems so different as that was just odds and ends. I would need my own site, with a consistent product (books), and I would need to figure out how to buy them at a cheaper rate than what I sell them for.... Any help on any thing I mentioned or didn't mention I would appreciate so much. If anyone can point out things I am missing please do and I won't be offended! I need all the help I can get, and I won't turn down any advice!