open business

[shabojd]

i am a early retiree and want very much to open my own business.  i am a high school and college grad in computerized accounting .  now while i consider myself to be quite efficent and informed in most accounting issuses... i have no idea whatsoever on which steps to take first on how to go about opening myown business.

i am thinking of a really classy sterile and sanitary  nail salon giving customers top notch service as far as free coffee and pastries, ordouvers to pickin up dry cleanin so to speak if need be.  i have such vision. now i do have a small grant on hold if i can show more detailed ... will  someone tell me my next step

thank you  very much

[Ouisch]

Will your grant be enough to get you started, or will you need to borrow money from a bank?  If you're going to need financing, your first step should probably be to write a business plan.

http://h41157.www4.hp.com/hpgc/uk/en/2-3-8-19%5E3175.htm l

[Oneeyedvic]

regardless of whether you want to borrow or not, a business plan is one of the most imnportant things you can do. You need this to make sure that you have a viable business.

 

A lot of this may be guess work, but you need to spend time / money getting this as accurate as possible. There is very little point in investing into a business if it is not feasible.

 

Start with who your competitionis / similar businesses. Waht cost will you charge your custoemrs - what will it cost you. How much will premises cost. What about advertising. Where will your customers come from etc etc etc.

 

Would strongly advise you to start in the library and get some books out on starting and running a business.

This may also help:

http://www.natwest.com/smallbusiness/services/index.asp?navid=SBS/ACCOUNTS_SERVICES&pid=5

 

Good luck and post back if you have any other queries