What does it take to open a business up?

[Nocturnal]

ok, i have my plan, not a so great one, but i do have one in mind.

i work as a cell phone salesman.

basically, i went into this competitors store and it basically has video games for sale, trading cards for sale, anime toys for sale, etc etc. and cell phones.

now im wondering how much capital would i need to start a business like this? i know this is a money making business.

can anyone tell me? thanks in advance!

 

[Angrymarshmello]

Calculate how much money it costs to lease the space for your business. Then calculate the money it costs for furnishings, then the stock you have to purchase, then advertising, then utilities and such, then setup costs, then finding a lender who doesn't mind lending you the money for it. If you've never taken an accounting course I'd highly suggest taking one.

 

[Nocturnal]

Originally posted by: RagingBITCH
Calculate how much money it costs to lease the space for your business. Then calculate the money it costs for furnishings, then the stock you have to purchase, then advertising, then utilities and such, then setup costs, then finding a lender who doesn't mind lending you the money for it. If you've never taken an accounting course I'd highly suggest taking one.

my gf would be the accountant. she is majoring in that right now. she graduates in december.

thanks raging, i appreciate it.

 

[BigPotato]

lots of customers.

 

[Tsaico]

All the above mentioned costs. Then also factor in all your worker's wages (including your own) and figure out how much it will cost to do that for a year, assuming there is no income the entire year. That number is the ball park figure that you need to have to start your buisness. And of course you will have factor in things like permits and liscences. Those vary from state to state and city to city and are often based on the type of buisness you have. If you make a sound buisness plan and have a good credit hisorty, then you can turn in both to your local bank/credit union and they may give you a shot. Be sure you do your research though... I would start here. After you have read all that, you shouild have a good idea what your first years costs are. Good luck
Ed