Tag Archive: home based

Start-up A Retail Business

Start-up A Retail Business
Starting a business is always easier when you have some funding, and far too many business advisors will tell you to wait until you have a substantial amount of capital before launching. But what if you just can’t raise the money? Then it’s time to ignore the advice of those advisors and jump into the fray. Start-up A Retail Business

Obviously, if there’s no funding, and you want to bankroll your new retail business out of your own poorly-funded back pocket, you will have to seriously re-evaluate your concept. Notice, we’re saying “re-evaluate,” not “abandon.” In fact, it’s still possible to start a retail business without having to shell out big money for retail space, inventory and advertising.

It’s not an easy thing to get funding for a retail shop, especially one that is brand new. Expansion capital is a little easier to come by, if you already have a shop that is making money, but if you’ve got your eyes on running a brand new boutique, those funding dollars will be scarce. About the only way you’ll be able to convince a finance company or bank to give you money to start a new retail shop is if you are willing to put up the equity in your home as collateral against the loan. Start-up A Retail Business

And yes, if you have equity, you should expect to have to do this. But—what about the rest of us poor folks who don’t have any assets, no savings to speak of, and can’t get a signature loan? Are we doomed to a life of wage slavery? No. We just have to start out small, so small that our new business wouldn’t even show up in the radar of what most people call a small business. What we’re talking about here is a “micro business”—one that can be started with very little or no up-front capital.

Traditional business wisdom calls for a business plan that details your spending for the first year, and where that money will come from. Your original goal may have been to open up a small shop in the mall—but rents in most malls even for a small shop often go for thousands of dollars a month. A “bootstrap” retail business is one that is starting with either no, or very little funding, so that space in the mall is out of the question. Start-up A Retail Business

Obviously, your first concern is inventory, and without funding, you won’t be able to carry very much of it. Consider what you envision selling, and reduce those items to include only those that have the highest margin and the quickest potential turnaround. Starting off specializing in a dozen or so items that sell briskly will prime the pump so you can add more inventory later. Start-up A Retail Business

As for retail space, even though the mall is out, take a look at other areas that may offer cheaper rent, even if the space is a lot smaller than what you had in mind. There may be an existing business that would be complementary to yours, with some space to spare—there’s a possibility there of making a deal. And barring that, start out without any permanent retail space at all. Many successful retail shops started out selling exclusively at local festivals, farmers’ markets, flea markets and specialty shows, where you rent space by the day or week. While you’re selling at these venues, collect a customer mailing list so you can send your best customers a card when you are able to finally move into a permanent retail space. Start-up A Retail Business

Most importantly—don’t assume that you can’t go into business just because you don’t have a lot of money. Start-up A Retail Business


10 Powerful Reasons to Start a Home Based Business

10 Powerful Reasons to Start a Home Based Business10 Powerful Reasons to Start a Home Based Business

10 Powerful Reasons to Start a Home Based Business. Home Based Business’s are spreading across North America and have become widely recognized as one of the most desirable business’s to start for several reasons.

Just think for a minute what it would be like to work from home and never have to worry about waiting in grid lock traffic or to answer to your boss’s demands. 10 Powerful Reasons to Start a Home Based Business

Wouldn’t that be great?

In todays fast paced world a little extra income doesn’t hurt in order for the average guy or gal to get ahead in life so they can enjoy the little extra’s life has to offer that there current job doesn’t allow them to do.

I know from experience because that’s what made me take the necessary action steps required in order for me to enjoy the quality of life I wanted to live and provide for my family.

But, the problem that usually occurs is people need to be motivated by something or inspired in order to take action.

Well, the purpose of this article is to do exactly that, inspire you.

I’m going to cover with you the 10 main reasons why You should consider starting your known ‘Home Based Business’ and the benefits behind each of them.

I guarantee once you read through them you’ll agree that a ‘Home Based Business’ might be worth considering.

With that said, let’s go to reason #1.

Reason #1. Be your own Boss.

Ever dream of being your own Boss?

Well starting a ‘Home Based Business’ is a step in the right direction and the best part is, you’ll never have to answer to anyone else’s orders, just your own.

Reason #2. Work when you want to.

This is probably one of the best reasons in my book for starting a ‘Home Based Business’ simply because you get to set your own schedule for what hours You want to work.

This is especially beneficial for stay at home moms who have children to tend to and need some flexibility in there work schedules.

Reason #3. Freedom to do what you want when you want.

How’s that for a reason to get started. By being your own boss and being able to schedule your own work hours you NOW have the freedom to do what you want when you want to with whom you want at anytime.

It’s a great feeling to be in control of your own life and do what you want when you want.

Reason #4. No more worrying about job security.

By having you own ‘Home Based Business’ you never have to worry about receiving a pink slip from your boss or a “SORRY”, but the company has to cut back on its employee’s and You happen to be one of the one’s who has to go.

Reason #5. It doesn’t interfere with your current “J.O.B.”.

That’s right, you don’t have to quit your current J.O.B. in order to get started. You can start on a part-time basis until your able to replace your current income with the income you generate from your business.

Remember, you get to set your own hours for when you want to work your business.

Reason #6. It will make you a more confident person.

By setting out and starting your own business it’ll make you a more confident person because it takes alot of confidence to start something you have no idea what the outcome might be and the risks involved, whether there financial or personal.10 Powerful Reasons to Start a Home Based Business

Reason #7. It builds a sense of pride.

Wouldn’t it be great to be able to tell your friends and family or just somebody you meet that you’re an entrepreneur and you run and operate your own successful ‘Home Based Business’.

Pride also works as a motivator because the more successful you get the harder you’ll want to work in order to achieve the goals you have set for your business.

Reason #8. It’s all for the MONEY.

MONEY is a pretty obvious reason for starting a ‘Home Based Business’ because Why would you otherwise start a business if you weren’t planning on making any MONEY.

It also builds a sense of security for your way of life and the things you enjoy doing because the facts are… nothing for FREE. Everything has a price. 10 Powerful Reasons to Start a Home Based Business

Reason #9. You get great Tax benefits.

You heard right, you get Tax benefits with running your own ‘Home Based Business’ because now you’re entitled to home business tax deductions.

This is a category in it’s own and getting a good CPA who has experience with home based business tax returns will be essential in order for you to maximize your return for the year.

Reason #10. Wouldn’t it be great to retire early.

If your business turns out to be a SUCCESS and you invest and put your money to work for you, wouldn’t it be great to retire early and do the things you’ve always dreamed of doing, but never had the time or money to do so.

There you have it, “10 POWERFUL Reasons Why You’re Crazy NOT To Start A… Home Based Business In 2005”.

Now, if those 10 reasons don’t get you excited about starting a ‘Home Based Business’ then I have failed to inspire you. 10 Powerful Reasons to Start a Home Based Business

If you need to read through them again, do so now.

These are the very reasons I contemplated before starting my home based business and in my mind are the most common.

Write down for yourself why You would want to start a ‘Home Based Business’, I bet you’ll come up with several of the reasons I’ve listed above.

With that said, there’s one more thing I want to mention and that is if you are seriously thinking about starting a ‘Home Based Business’, whether it be online or offline, make sure you put together a ‘Step-By-Step’ business plan on the actions you must take and make sure you start a business you enjoy doing. 10 Powerful Reasons to Start a Home Based Business