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Hi everyone! I have been thinking about open my own business but I am not sure about what, a restaurant? a beauty salon? I am confuse I don’t want to fail of course i have been saving for several years to open a business but don’t know how to start, can you help me out?

3 Thoughts on i want to own a small business any suggetions?
  1. Reply
    Dylan C
    November 16, 2012 at 2:24 pm

    Film production company 🙂

  2. Reply
    November 16, 2012 at 3:01 pm

    Ask yourself what you truly enjoy doing — then investigate if there is a need in your area for that type of service.

    For example: I love working with plants — love love love it. I don’t know everything there is to know about each and every one, but I also love research. Several years ago, we decided to research how to open a business that would incorporate what I love with what was needed in our area. There are PLENTY of garden shops in our area, and plenty of landscapers and lawn care companies — but there aren’t any wholesale places for the landscapers and lawn care companies to get plants for their jobs. So, we did our homework and after two years of planning opened our own wholesale tree, plant, shrub and ornamental grass business.

    Think about what you love, what you could do every day and not get bored with or tired of, build a business plan based on your passion, research your market and jump in — the water is a little choppy right now due to the economy, but if you are committed you can make it through.

    Best wishes.

  3. Reply
    Pamela Johnson
    November 16, 2012 at 3:19 pm

    You are smart to be saving your money–the less debt you start out with, the better shot you will have.

    I agree with the advice to focus on something you can enjoy–because you will be doing a lot of it.

    The other important thing to look for is a need to fill or a problem to solve. “Solve someone’s pain,” is another way to say it.

    Take a class in small business management–understanding financial statements and marketing are your two top priorities here.

    There are lots of community resources that help people looking to start a business: check out the SBA (free!), community colleges, micro lending organzations.

    Pamela Johnson
    (and community college small business instructor)

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