question for business owners...

rh71

No Lifer
Aug 28, 2001
52,853
1,048
126
What are things to consider when trying to open a business ... more specifically a recreational facility

- demographics (who would want your service in the locale)
- capital (building)
- maintenance cost
- lease
- insurance
- salary for employees
- stock/suppliers

--added-- (thx)
- marketing
- legal


any others ?
 

austin316

Diamond Member
Dec 1, 2001
3,572
0
0
Originally posted by: rh71
What are things to consider when trying to open a business ... more specifically a recreational facility

- demographics (who would want your service in the locale)
- capital (building)
- maintenance cost
- lease
- insurance
- salary for employees
- stock/suppliers

--added-- (thx)
- marketing
- legal


any others ?

if your real serious, start working on a business plan. you can get templates and ideas here. bplans.com
 

austin316

Diamond Member
Dec 1, 2001
3,572
0
0
and your missing the most important part. the financial statements. How much do you expect to make?
 

trilks

Golden Member
Aug 16, 2002
1,117
0
0
You'll need some working capital from the bank (loan or line of credit), and austin hit the two major things banks will want to see before they give you money. If you don't have financials yet (just starting out and all), be sure to have a top-notch business plan. Also, check out federal small business loans, that might give you a good start.
 

austin316

Diamond Member
Dec 1, 2001
3,572
0
0
Yep, a business plan is made simply to allow for you to get a loan from the bank. In the business plan, the bank simply cares about your financial statements, showing how much and when you will make money, and what you have to back up the fact that you will make money.

You base this off the industry and your competition.

These are two major things you left off your list when opening a business. and don't be fooled by the majority fallacy.