Where do I begin???

[Todd Dempster]

I live in a major metro area with NO retail stores and I want to open my own store but I have never started a business before so I have no idea where to even start. I contacted the local SBA office and was told to start with a business plan. Okay . . . now how do I write THAT up?? Does anyone have any idea where I should begin this venture? There is just WAY too much money to be made to let this opportunity pass me by.

 

[martsumoto]

Well, I'm an M.B.A (Master in Business Administration) my advice would be, try to get some credits in business before attempting something like this if you can't well I'm going to provide you with a very good advice.

For every business/project you have to sit at the table with experts in their own field, if you don't know how to write a business plan which actually is not only about writing but knowing about marketing, Finance, Statistics, Projections etc. Find someone able to do it and share the pie.

In other words, find a business partner

 

[zoiDman]

Something you might do to start is to make a List of EVER Expense you can think of that it would take to start your Business.

Like;
Lease - insurance - Utilities - License Fees - Bank Accounts
Furnishings - Displays - Racks - Walls - Cash Register
Inventory
etc

Once you get a Grand Total, ask yourself "If I have a 75% Markup, How much total Sales do I need to do to Break Even?" Don't forget to Slice off a % of for Taxes.

You might be surprised just how Many Cartos and Milliliters of e-liquids you need to sell just to Break Even

 

[Figgy]

I'd check out my local colleges for some basic business courses.

I know where I live, they have plenty of programs that non-matriculating students can take without much hassle.

 

[Berylanna]

There are also "For Dummies" books on things like this, and business plan software. And if you're talking a retail store, walk down a street that has mom-and-pop retail stores and talk to the owners.

The 2 vaping shops I've been to in the Greater Bay Area are microscopic in size, and have such limited inventory that I've only gone to each one once and don't plan to go back. However, I admit that if one was actually in my normal shopping radius I might go.....once a year.

Don't forget, inventory taxes can mean you cannot AFFORD to have any items that don't move fast. That means...whatever people want, you may well not have it, and vice-versa.

And, like everybody else said, look for classes.