What does it take to start a small business?

Question

im only 19.. and still only a legal resident. what will it take to start a small business? (e.g. small restaurant, shake stand, or shirt designs). is it gonna be a pain in the A-- when it comes to all the papers ill need and money...

Answer 1

Dear R.R.,

Well, I don't know much about the business operating strategy, but I do know that behind every business is something that doesn't fall under the category of manufacturing process... and that is:

Passion and a drive

You need to love what your doing with your business and you need determination to keep it going. Do what you like. Like what you do.

A spark of passion can lead to a booming fire... in my opinion passion and ambition are the two things that make the blood pump through every working business.

Plans are only good intentions unless they immediately degenerate into hard work. ~ Peter F. Drucker...

My advise to you, if you really want learn how to run an organized business, is to read the works of Peter F. Drucker.

Peter F. Drucker is probably one of the most famous professors for  business managing schools on the planet. He is like the Issac Newton of Business.

Just to give a sample of how smart he is go to this site: http://www.brainyquote.com/quotes/author...

Trust me.. you won't go wrong if you listen to Peter Drucker. Ask any Entrepreneur, professor, manager, or sophisticated leader, "who is Peter Drucker?".... and I bet you'll get an answer that will relate to managing business.

Hope this helps you. Good luck with your entrepreneurship! Have a peachy day!

Love and Blessings,

Emily

Answer 2

A good idea, some capital and a lot of hard work.

Answer 3

I started a small business about a year ago.  There's a lot less paperwork that you would think.

You need to establish your business as an LLC, get a Federal Tax ID, both of those can be done for you for about $100 online or you can do it yourself for free.  You also need to get insurance for your business.

That's about it.  after that it's all just work, promoting yoiurself and keeping track of your money.

Answer 4

My mother wanted to go on ebay and was bidding on a hot dog stand,we live at the beach and it's lots of traffic,we would (me and my HS friends) drag a cooler out with the stand or grill and sell them in our bikinis.Fisrt of all you need a permit,or liscence to vend,then you need to get a heath certificate and be inspected my the health department,as well as liscencing fees not only for the town,but state,then pay taxes on the money you earn and pay your workers,big pain in the ***.My mom is a chef,it's easier to work for some place thats already established.Anyways,even if you get friends to go on it with you because it is costly with overhead for electric,gas,food,rubbish disposal,etc,make sure you have EVERYTHING in writing.Good luck!

Answer 5

Well I don't know much, but I do know that for a food place, you would probably need to have about I think a monthly review from a health inspector or something,  and you would need your licence /permit to sell