Most Recent Questions in Starting a Business
Question added to topic Starting a Business • September 18, 2008
How do I determine the estimated population needed to support an apparel business venture in the Austin or San Antonio area?
The best place to start with your research is a retail trade or industry association. You may need to contact several for your lines, but they are a wealth of information you'll need to make better... (more)
Question added to topic Starting a Business • September 12, 2008
Is a letter of credit from our bank enough to start a freight broker business?
It's not clear what form you�re talking about, as this is a business that requires a number of different forms.
There's a lot that goes into starting a freight broker business,... (more)
Question added to topic Starting a Business • September 8, 2008
What area of study would be best to pursue if looking to open my own business in the future?
Study what interests you most. Choose the area that attracts you. That can be as simple as looking at which subjects and classes you'd like to be in. Try to spread it out; sample different areas to... (more)
Question added to topic Starting a Business • September 8, 2008
I am in the beginning stages of a vending business. How do I write a proposal to put my machines in a college that hasn't opened yet?
There's no set formula for something like this. Here's what I'd suggest, but I may be wrong, so ask others as well: a short proposal, including an introductory paragraph that reminds the reader of... (more)
Question added to topic Starting a Business • September 8, 2008
Is there a form or preferred format for creating an equity proposal to a potential investor?
Don't worry about form or format. Worry about valuation. To calculate your valuation, divide the money you're asking for from investors by the percentage you're offering to the investors in return.... (more)
Question added to topic Starting a Business • September 8, 2008
How can I address, in my business plan, the threat that an established large competitor poses for my business?
Yes, you ask an excellent question, but not one for which there is some simple formula to answer. You have to answer it, though, or accept a lot more risk than you'd like.
Don't... (more)
Question added to topic Starting a Business • September 8, 2008
How does one calculate projected sales for a restaurant?
I have an example you can use, with a lot of illustrations, on the following website, free: http://planasyougo.com/example-initial-sales-forecast-for-a-restaurant/
That should give you at least... (more)
Question added to topic Starting a Business • September 5, 2008
What is the best way to accept payment from cutomers for mobile mechanic services?
Checks are a good place to start. You may also look to join a chamber of commerce or some other kind of business cooperative that offers credit card services to its members.
That way, you may... (more)
Question added to topic Starting a Business • September 5, 2008
Is it possible to profit from organizing a career/job fair?
Yes. Job fairs are an excellent way to profit because you can get income from both sides--from companies wanting to appear at the fair (booth space rental) and job seekers (tickets).
That said,... (more)
Question added to topic Starting a Business • July 31, 2008
We want to open a second sushi bar. What should we ask for in negotiating a lease?
As my mother always says, "If you dont ask, you dont get." If the pipes are damaged, the ceiling is leaking and the drain is clogged, ask the landlord to fix them before you move in.... (more)
Question added to topic Starting a Business • July 28, 2008
I am pre-startup and need a mentor for my jewelry e-business.
Lily,
You have made excellent steps toward getting your business started successfully. Finding a mentor who is a good fit is, as you are finding, not always an easy task. There is a terrific... (more)
Question added to topic Starting a Business • July 22, 2008
How do I research the need for a spa in a particular area?
Yes, you do need to do research. Initially, it is basic market research.
Who are your target buyers?
What is their demographic profile (age, sex, income level)?
Where do they live (most r (more)
Question added to topic Starting a Business • July 22, 2008
Should I finish my MBA and wait until I have money to invest, or should I start real small to get a business going sooner rather than later?
Why not start a small, home-based business while you're earning your MBA?
The biggest challenge for business owners day-to-day is simply learning what it takes to run a business profitably on a... (more)
Question added to topic Starting a Business • July 21, 2008
I have a startup clothing company that could be much larger if it were a joint venture with another company with more experience and know-how than I have. How do I make appointments to discuss this with name-brand companies?
First off, congrats on your new venture! Clothing is a very lucrative business to be in, especially if you have a fabulous line that can be marketed to the same demographic segments that major... (more)
Question added to topic Starting a Business • July 16, 2008
Where can I find estimates of the startup costs of a copy/print/mail center?
Industry associations are great for this type of information. Look there first or talk to some business owners in the industry (youd be surprised at how much information people will share with... (more)
Question added to topic Starting a Business • July 16, 2008
I've built a protype for an invention. Should I form an LLC or full corporation and patent it? Or should I seek a large company in the industry to sell the rights to?
Every state and locality has different regulations for corporations and LLCs. You'll definitely need to contact someone in your locality for that information.
As far as selling, you'll need to... (more)
Question added to topic Starting a Business • July 16, 2008
How do I determine my target market for an accounting and tax service business?
Some good places to start would be people, then businesses, then nonprofits, then geography. That list is not exclusive, but helps you segment.
In terms of people, will you work with tax... (more)
Question added to topic Starting a Business • July 16, 2008
What information do I need about a new product idea before contacting a market research firm?
First off, you need to be fairly specific about your product and the type of audience you are targeting before you get into any market research.
Most research is qualitative--meaning youll get... (more)
Question added to topic Starting a Business • July 16, 2008
I'm just getting into network marketing with a truly incredible product. I would like a definition of what network marketing is and how it works.
Network marketing is simply a distribution system for products or services, where you are paid to both sell the product/service and to recruit more direct sellers.
Short-term income is made from... (more)
Question added to topic Starting a Business • July 16, 2008
What's the best way to expand my business to the U.S.?
Go through your friends first, get your customer base up and running, and then invest in an office "on the ground." There is less risk through existing businesses--and you may also be... (more)
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